Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Noront Resources

about 14 years ago

3

Is there a more robust 43-101 than the highlights on the news release? The numbers are not adding up and I want to see assumptions.

($7B*90% - Capital costs ($1B) - operating costs ($1.5B) ) * (1-.35) = 2.5B

Even using a NPV framework (where all after-tax cashflows are discounted at 6%) i'd expect somthing closer to 1.5B ... comments welcome.

Maybe I'm missing some costs that aren't disclosed? Only did a quick read... I will be working this out a bit more later tonight.

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goFWR

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12/21/2009

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Noront Resources

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NOT

Exchange

TSX-V

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326,029,076 As of Jan 17, 2017

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Metals & Minerals

Website

norontresources.com