selkirk are you familiar with Noront Resouces

[selkirk]

a few more points in this market the jr. have been ignored.
about AB post is does not matter what he thinks of managment, it is what they do, and when....the company needs more and better drilling results to expand the resource. to build a mine will cost hundreds of millions, so a large resource will have to be found or it will lead to nothing.

thanks
selkirk

 

[LOR]

The Northern Miner, Monday, July 14, 2008
Posted by: coswil on July 11, 2008 01:13PM

By Gwen Presto



VANCOUVER -- Since the discovery hole at the Double Eagle property in northeast Ontario hit massive sulphide mineralization in September, Noront Resources (NOT-V) investors have been anxiously awaiting a resource estimate for the nickel-copper- platinum group elements project.

The wait is over. On an otherwise quiet July 4, Noront released an initial estimate for Eagle One, the better explored of two main exploration targets at Double Eagle. Almost 30 drill holes delineated a mantle-derived, ultramafic intrusion that hosts an elongated, steeply dipping lens of dominantly disseminated sulphides. The disseminated sulphides, in turn, encapsulate a lens of high-grade massive sulphides.

In the indicated category, Eagle One hosts 233,000 tonnes of massive sulphide mineralization grading 6.52% nickel, 3.45% copper, 0.24 gram gold per tonne, 1.94 grams platinum, 12.21 grams palladium and 9.75 grams silver. The larger envelope of disseminated sulphides comprises 1.6 million tonnes averaging 1.3% nickel, 0.85% copper, 0.14 gram gold, 1 gram platinum, 2.7 grams palladium and 2.94 grams silver.

The estimate pegged the combined massive and disseminated inferred resources at 1.1 million tonnes grading 2.39% nickel, 1.27% copper, 0.13 gram gold, 1.37 grams platinum, 4.5 grams palladium and 4.21 grams silver.

Drilling results indicated dip lengths of up to 225 metres, projected onto 200 metres of strike length. The deposit remains open along strike and downdip for further expansion.

And while Noront is actively working to expand the deposit, the company's thoughts are already turning to production.

In a statement, Noront CEO Richard Nemis discussed the possibility of initially shipping unprocessed ore from the high-grade massive sulphide zone to a southern-based concentrator-smelter complex.

Cash flow derived from such an operation would then allow the company to build an on-site concentrator for the disseminated mineralization.

And a forward-focus on production was also clear from the fact that Noront calculated net smelter return (NSR) value estimates for its resource amounts in its press release. But the company later had to retract the NSR estimates because the project has not yet seen a scoping-type study.

Noront also had to retract its initial news release title, "Another Windfall for Noront With High Grade on Initial Resource Estimates at Eagle One Deposit." The reason the Ontario Securities Commission demanded the retraction is best explained by Noront itself: "Noront retracts the usage of the word Windfall in its news release title, in that it inadvertently draws potentially undue attention to a lottery-style win, rather than the intended reference to Noront's Windfall Lake property in Northern Quebec."

The company was halted at $2.70 after releasing its Eagle One resource estimate, and traded at $2.47 at presstime. Noront has a 52-week trading range of 29?-$7.42 and has 129.4 million shares issued.

Noront's discovery at Eagle One kicked off a staking rush around the McFauld's Lake area. The company is actively involved in several of the area-play exploration projects as a joint-venture partner.

Noront proved its property name, Double Eagle, was justified in late February, with the announcement of another massive sulphide occurrence 2 km southwest of Eagle One -- appropriately dubbed Eagle Two.

The latest results from Eagle Two have returned significant copper-nickel mineralization from depths exceeding 400 metres. In general terms, the number of mineralized zones encountered increases with depth as does the tenure of sulphide mineralization.

Mineralization containing copper- nickel sulphides has been traced to 350 metres depth; chromitite mineralization to date extends to 400 metres depth. Both zones occupy positions conformable with and near the stratigraphic bottom of a wide peridotite sill, which in turn unconformably overlies a granodiorite older basement rock.

The aim of the current drill program is not to define the lateral or horizontal extension of the zone but rather to follow mineralization to depth in search of a postulated pool of concentrated copper-nickel sulphides lying on the basement rocks, as found at Eagle One.

In a more generalized view, Noront's Ring of Fire conceptual model turns on the idea that a mantle-derived, highly magmatic ultramafic peridotite intrusion (the Ring of Fire Intrusion or RFI) has been placed along the margin of a regional-scale granodiorite pluton, which has been intruded into and caused a doming of the host Sachigo greenstone belt. As such, the RFI is situated between a granodiorite footwall and a Sachigo greenstone belt hangingwall.

The RFI is magnetically distinct from both, allowing for easy tracing, and it seems a series of conduits cutting across and through the granodiorite have acted as feeders to the RFI.

Using this model, the Eagle One deposit is interpreted as occurring within a conduit feeder, at some distance from the RFI. The Eagle Two discovery is interpreted as occurring within the throat of the conduit, where it empties into the RFI. Noront's geologists think the drill results obtained to date at Eagle Two -- seemingly coalescing finger-style mineralization -- are consistent with this model, which is why the search is on for a possible feeder conduit that would constitute another Eagle One-type deposit.

 

[LOR]

Hi selkirk, Here's info I received today from a source that was right on with other info he has shared.

Recent s/p activity is based on drilling a new anomaly 6-8 km northeast of Eagle 1. two holes drilled so far both hit massive to semi-massive sulphides.

 

[LOR]

Here is a post from AB

Just spoke to Richard
Posted by: tcp1002 on July 16, 2008 11:14AM

All is well with our company. He has been very busy this week.

Windfall- Still progressing with the ramp. I can't remember what he said about zone 17 as I couldn't write fast enough. He said go into the web site to see some of the museum pieces they have found so far. He said they will continue to test each zone to see if what they have is economical to mine. phase 1 will test zone 1-3 and phase 2 will test zones 5-7. He said it looks good so far.

China- Suppose to be drilling this summer but does not have any further info.

Mexico- They are in court right now trying to get clearance to pass over some onther land so they can get into the land we have for the drilling. He said they will get the clearance but did not know when.

Burn Hill- doesn't know what's happening with it.

Double Eagle- I asked where they are drilling right now and he said they are at AT2, AT6, and AT12. He said to look at the map on the web for exactly where the location is. He also said that AT12 location will be changed on the map as it's not exactly right but they are drilling in that general location.

They have 4 drills right now and number 5 is to arrive soon. 3 are in the AT areas I mentioned above the 4th is loaned to WSR and they are drilling. Didn't ask where number 5 was going to be (sorry).

I asked about the Rhodium and he said he keeps forgetting to ask the person that knows about the results. He did say that it was of economin value and that it is currently trading at $12,000/OZ.

I asked about the other metal we found and he said it is called Chromite. I said what do you think about this? here is a direct quote: " That could be the sleeper of the year". Then he starts explaining that it is used for the baking of stainless steel and can be substituted for other nickel. I believe this is how I heard it. He also said that the price for Chromite has doubled in the last year.

The other thing he said is that we currently have 1 Chromite and 2 nickel deposits.

As usual he could not comment about any news due. I said I was glad the stock has come around and he said it should do better and I said will it, and he replied don't worry it will.

That's it! I just thought i would share with everyone.

Good Luck to all of us. Still holding strong. Tcp

 

[selkirk]

LOR NOT is acting better, well yesterday everything went up, just like they went down...I mean blue chip stocks up 5-15% in one day just from the rally...volatile....

not sure if the shipping of the materials to the south would work, how would it get there, rail...could not do it by truck.

would they truck it so far and then by rail, seems expensive and not sure how much free cash flow they could get...... the better hope is for better drill results and then they can raise more money.

which in this enviroment is very difficult and probably why they are talking about starting small scale production.

thanks
sellkrik

 

[LOR]

NEWS - Noront Announces New Cu-Ni Occurrence at Anomaly AT12
Posted by: AGORACOM on July 17, 2008 04:27PM




PROVIDES UPDATE ON OTHER DOUBLE EAGLE DRILLING PROJECTS





TORONTO, ONTARIO - (July 17, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the following update on its exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands.


EXPLORATION HIGHLIGHTS


1) Two drill holes completed thus far on Anomaly AT12 have returned encouraging widths of visual copper-nickel-iron sulphide mineralization up to 29.2 meters in MMS style Cu-Ni mineralization in peridotite host rock. Assays are pending.


2) Latest drilling at Anomaly AT2 (Eagle Two), continues to probe deeper and delineate copper - nickel mineralization in a shear hosted sulphide setting (Eagle Two SHS Occurrence) now delineated down to a vertical depth of 580 meters along a strike length of 200 meters.


3) Assay results received from five holes (see Table 1) from Eagle Two with the most significant intersection being 6.2 meters from 165.0 meters onwards, averaging 1.14% nickel and 0.52 g/t Total Precious Metals ("TPM" see table below).


4) Noront now controls and holds interests in 1,166 square kilometers of prospective land in the Ring of Fire exploration area.


The anomaly drilling program on the Double Eagle Project continues with two drills testing the Eagle Two (AT2 airborne anomaly) downward extent of a copper-nickel sulphide mineralization in a Shear Hosted Sulphide ("SHS") environment, as well as layered chromite ("LC") mineralization in a peridotite intrusive geological environment, now referred to as "Blackbird One" so as to distinguish this site from the Eagle Two occurrence. Information on the Blackbird One chrome occurrence will be the subject of a separate release.


A third drill is testing other nearby airborne identified geophysical anomalies that have been upgraded to drill targets as a result of ground geophysical surveys and geological review, all within the geophysically interpreted northeast extension of the Ring of Fire Intrusive ("RFI").


The drill assigned to testing anomalies has recently been moved to Grid 2 to test anomaly AT12, located approximately 9.5 kilometers to the northeast of the Eagle One Magmatic Massive Sulphide ("MMS") deposit.


As previously announced (see press release dated July 4, 2008) Eagle One hosts an Indicated resource of 1.83 million tonnes averaging 1.96% nickel, 1.18% copper, 1.12 g/t Pt, 3.91 g/t Pd, as well as an Inferred resource of 1.09 million tonnes averaging 2.39% nickel, 1.27% copper, 1.37 g/t Pt and 4.5 g/t Pd.


AT12 Anomaly


The AT12 airborne anomaly is located approximately 9.5 kilometers northeast of the Eagle One Deposit. Drill testing has commenced on the north end of this long, northeast-southwesterly striking strong coincident magnetic - conductive target. Two drill holes completed to date have encountered encouraging widths of intermittent disseminated and semi-massive copper-nickel-iron sulphide mineralization which have been visually observed over widths up to 29.2 meters. The two drill holes were collared in cumulative-textured peridotite with the sulphide mineralization being encountered near the base of the ultramafic intrusive before the holes entered granodiorite basement rock. The two holes completed to date with a third hole underway are tabulated below with Local Grid and UTM collar coordinates and a visual description of mineralization encountered. Assays for this new sulphide discovery are pending, and these results are based on visual observations only. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.






The widths contained in Table 1 are not true widths as insufficient drilling has been completed on this occurrence to determine true widths.


EAGLE TWO AND BLACKBIRD ONE OCCURRENCES (AT2 Anomaly)


Noront has a new system of naming new mineral occurrences when they reach a certain level of continuity, size and tenure of mineralization. Nickel, copper occurrences are assigned the name "Eagle". Chromite occurrences are assigned the name "Blackbird". The number assigned to each occurrence type is indicative of the order of discovery. As stated above, the company will issue a separate release on the chrome results. To date, 32 holes totaling 11,719 meters have been completed at the AT2 anomaly to assess the Shear Hosted Sulphide and Layered Chrome occurrences discovered by Noront earlier this year (see earlier press release dated May 27, 2008). Two additional holes are currently underway (Holes NOT-08-1G55 and NOT-08-1G56), continuing to test these targets.


EAGLE TWO Ni-Cu OCCURRENCE


Assays from holes at Eagle Two, that have been received since the last press release (May 27, 2008) are described below (see Table 2). The current drilling has continued to extend the mineralization containing visible copper-nickel sulphides to a vertical depth of 660 meters. The Eagle Two occurrence occupies a position conformable with and near the stratigraphic bottom of a wide Peridotite Sill which in turn unconformably overlies a Granodiorite older basement rock. Assays are pending for the more recent holes. With the interpretation of the new holes at Eagle Two, the SHS zone continues to dip flatly at 50 to 60 degrees to the west and strikes north-south within the Peridotite sill or the "RFI".






Due to the limited number of drill hole and assay results, true widths are not yet determined for the Eagle Two occurrence.


Assays are pending for the following drill holes recently completed at the AT2 Anomaly site from both the Eagle Two and Blackbird One occurrences. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.






For all tables:


Cu refers to copper mineralization, typically chalcopyrite (cp)


Ni refers to nickel mineralization, typically pentlandite (pn)


Po refers to pyrrhotite a sulphide mineral


Mt refers to magnetite


Cr refers to chromite mineralization


Semi-massive refers to sulphide mineralization, predominantly po, pn and cp


Drilling continues at Anomaly AT2 with two drills continuing to test the Eagle Two and Blackbird One occurrences.


Other Anomaly Drilling Programs


Ground geophysical surveying is well underway at the Double Eagle project Grid 2 area, as well as other areas. Linecutting followed by ground geophysics has commenced for the numerous options and joint venture properties that are operated by Noront, around the Ring of Fire. Since January 2008, Noront staked many additional claims and continues to acquire additional land by staking and joint venture, all of which are being surveyed by Geotech Ltd's new deep penetrating airborne Time-Domain Electromagnetic ("VTEM") system, over the next few months. This new helicopter mounted system has demonstrable and acceptable conductance discrimination for high conductance targets by using a low frequency (30 Hz), long on-pulse and derived B-Field. Noront has amassed over 48,600 hectares of prospective ground and is in joint venture with several other resource companies on approximately 68,000 hectares. Collectively, Noront holds interest in approximately 116,800 hectares or 1,166 square kilometers of staked land within what management believes is the most favorable exploration area. A third drill has commenced on the Double Eagle Project to test airborne anomalies, all of which have undergone further ground geophysical surveying including AT-5, AT-6, AT-7 (all on Grid One) and AT12 (first anomaly on Grid 2) all east and north of the Eagle One MMS deposit.


AT3 Anomaly


As reported earlier (May 27, 2008) a total of 2,621 meters was drilled in eight holes testing airborne anomaly AT3, located 4 kilometers to the southwest of Eagle One, or two kilometers west of Eagle Two. These holes intersected altered (talc-chlorite alteration) and non-altered strongly magnetic peridotite units that were locally mineralized with disseminated sulphides. The presence of magnetite veinlets and disseminated sulphide mineralization in the peridotite provide some evidence of conductivity and explain the high magnetic signature for this geophysical anomaly. Samples were selected from all visual mineralized sections, and were submitted for multi-element analysis, results from hole NOT-08-1G26 are pending. No significant base metal or precious metal values have been received to date.


AT5 Anomaly


The AT5 anomaly is located approximately 1.1 kilometers east of the Eagle One deposit. This anomaly is described as a 500 meter long, 100 meter wide moderate to strong magnetic anomaly, with weak electromagnetic responses to various airborne and ground geophysical surveys. Two completed holes and one lost hole totaling 675 meters were drilled to test this anomaly as outlined in the following Table.






AT6 Anomaly


The AT6 anomaly is located approximately 2.0 kilometers northeast of the Eagle One deposit. This anomaly is described as a string of electromagnetic anomalies over 450 meters on the southern flank of a prominent magnetic anomaly. Three holes totaling 1,317 meters were completed while testing this anomaly as outlined in the following Table.






All three holes drilled to date on this anomaly have encountered sulphide mineralization that is interpreted to be iron formation style mineralization. Observed mineralization occupies a steeply south-east dipping series of cherty, narrow meta-volcanic beds where pyrite, pyrrhotite and chalcopyrite are present. The mineralized intervals encountered in these holes are being sampled for this respective metal content and assays are pending. No further work is contemplated at present here.


INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL


A thorough quality control program has been in effect for the Double Eagle project which includes grouping samples into batches of 35 into which are added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. Coarse reject and pulp duplicates also form part of the QC program. Approximately 10% of the samples are sent to a secondary lab as a monitor on the principal lab. It can be said with confidence that all assays as reported in this Press Release have passed the strict quality control guidelines as set out by Noront's an independent Qualified Person ("IQP").


All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digest followed by ICP-analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. For more information on assay methodology please visit the Activiation Laboratories Ltd. Website at http://www.actlabsint.com


Drilling results in this press release have been reviewed in the field and approved for dissemination by Noront's senior management including John Harvey, P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's new Chief Geologist, both being Qualified Persons under Canadian Securities guidelines. Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,493,883 shares issued to date.


Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updated in real time.


ON BEHALF OF THE BOARD OF DIRECTORS:


R. Nemis, President and Chief Executive Officer


This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


CONTACT INFORMATION:




Noront Resources Ltd.
Neil Novak P.Geo.
(416) 864-1456
Fax: (416) 367-5444
Email: info@norontresources.com
Website: www.norontresources.com

 

[LOR]

Here's an update from the source FNC.V = FNCJF in the US.



Noront has 1 drill that is dedicated to drilling the chromite deposit. Management and the geo team still find the chromite interesting.

The other drill is back at AT1 (this is not Eagle 1). They drilled there earlier but didn't go deep enough. The down hole geophysics and electromags look very interesting.

AT1 is very close to the Fancamp (FNC.V) property. As well FNC has secured a drill rig of their own and they have a beautiful target of their own to drill. FNC.V could have a drill going in the next 5-10 days.

 

[LOR]

NEW Genuity report...sorry its messy
Posted by: Goldilox on July 23, 2008 09:44AM




Investment thesis

? On July 17, 2008, Noront released visual drill results from a new Ni-Cu discovery "AT12" on its Double Eagle project, northern Ontario, Canada ?


It is significant that NOT has documented signs of a potential new nickel-copper sulphide system 9.5km northeast of its high grade Eagle One deposit.
?


Early days with only two holes at AT12, but it is in a similar geological setting as Eagle One ? The new discovery at AT12 consists of nickel-copper "disseminated to semi-massive sulphide mineralization", so we do not expect the ultrahigh Ni grades of Eagle One massive sulphide mineralization. However, it is only two holes and the host peridotite and footwall granodiorite are similar to Eagle One.

?


Eagle Two now documented to a vertical depth of 660m, but grade is still low with no PGEs ? Additional results from Eagle Two certainly suggest a large Ni-Cu system, but the grades continue to be low for all metals.

?


Catalysts in the near term ? AT12 assay results and follow-up drilling will be the focus in the near term, along with drilling south of Eagle One. We will also watch for NOT to announce VTEM survey results, as we believe VTEM is the superior EM technique for the exploration of Ni-Cu sulphide deposits.

? We continue to view NOT?s Eagle One Ni-Cu-PGE discovery and regional potential to be part of a new potential Nickel district. The recent AT12 discovery attests to the under-explored nature of the Ring of Fire and its high attendant discovery rate, given limited drilling to date. We reiterate our


BUY recommendation and $7.00 target price. NOT is Speculative and suitable for risk tolerant investors only.



Exhibit 1: Synopsis of Double Eagle drill results

Zone/ Target


Purpose and number


Results


Genuity


of drill holes


Comments


AT12


three holes (approximately 550 m) to test a strong coincident magnetic - conductive target


-two holes encountered lengths of "intermittent disseminated and semi-massive copper-nickel-iron sulphide mineralization", with up to 3.73m semi-massive sulphides; peridotite host with a granodiorite footwall


Positive


? good, new Ni-Cu mineralization in a similar geological setting to Eagle One. Will there be platinum +/- palladium associated with this sulphide occurrence?
-assays pending


-the third hole is still being drilled


Eagle 2 / AT2


32 holes completed (11,719 m) and two holes pending to assess the Shear Hosted Sulphide (SHS) to a vertical depth of 660m and to test Layered Chrome occurrences


-best result is 1.4% Ni and 0.16% Cu over 6.2m


Negative


- assay results show low copper-nickel grades and low Pt-Pd values; this is consistent with previous Eagle Two results
-chromium results are pending, to be reported separately


AT3


eight holes (2,621 m) testing an EM anomaly


-visual only results-"locally mineralized with disseminated sulphides"


Negative


- conductor may be explained by magnetite
AT5


two completed holes and one lost hole (675 m) to test a 500 meter long by 100 meters wide moderate to strong magnetic anomaly and weak EM


-core contained only minor sulphides observed over short intervals


Negative


- conductor only associated with minor sulphide mineralization
AT6


three holes (1,317 m) to test a strong of EM anomaly on the southern flank of a prominent magnetic anomaly


-encountered sulphide mineralization that is interpreted to be iron formation style mineralization


Negative


- no further work is being contemplated; we assume this anomaly is no longer be considered a target as it may not be the right setting


Impact ? Mixed

Positive - Although the AT12 discovery is currently in its very early stages and, in the end, may not necessarily be related to a deposit, we believe the discovery further validates the high discovery potential of this new Ring of Fire belt. It also validates the effectiveness of EM techniques as a direct detection exploration approach.

Negative ? Eagle Two continues to be documented as a mineralized system to depth, however, massive sulphides have not been intersected and recent results have low Ni-Cu-Pt-Pd values.

416.603.6000 4 Genuity Capital Markets www.genuitycm.com 416.603.6000 5

Near-term catalysts


1. Assay results from AT12


2. Ongoing drilling at AT2


3. Expansion drilling at Eagle One ?


4. VTEM airborne survey results -


5. Assay results from Blackbird Two chromitite


? The chromite assays from the layered chromite mineralization are expected to be reported soon in a separate news release. We expect VTEM anomalies to be documented on Noront?s Double Eagle property and for high priority targets to emerge.

We expect NOT to start drilling to the south of Eagle One in an attempt to expand the deposit and find new massive sulphide pods.

? True widths of occurrences and further results on ongoing holes.

? If AT12 has significantly elevated Pt-Pd assays, then we expect AT12 to become NOT?s top target outside of Eagle One, as we believe the PGEs are an important value driver.



Valuation and recommendation

We continue to view NOT?s Eagle One Ni-Cu-PGE discovery and regional potential to be part of a new potential Nickel district. The recent AT12 discovery attests to the under-explored nature of the Ring of Fire and its high attendant discovery rate, given limited drilling to date. We reiterate our


BUY recommendation and $7.00 target price. NOT is Speculative and suitable for risk tolerant investors only.
Genuity Capital Markets www.genuitycm.com 416.603.6000 6

Member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund

Participating Organization of the Toronto Stock Exchange and Toronto Venture Exchange

Noront paid for some of the travel costs associated with an April 2008 site visit conducted by the analyst to the Double Eagle project, Ontario.

Analyst?s Certification

I, Michael Gray, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.

THE FIRM THAT PREPARED THIS REPORT MAY NOT BE SUBJECT TO U.S. RULES WITH REGARD TO THE PREPARATION OF RESEARCH REPORTS AND THE INDEPENDENCE OF ANALYSTS.




Re: NEW Genuity report
Posted by: QQ_Girl on July 23, 2008 10:43AM

In response to: NEW Genuity report...sorry ... by Goldilox

here's a little more info from the report you might find interesting - this was as of July 18th.08

Shareholders

5% Mgmt

~9.7% Pinetree Cap

~9% Sprott Asset Mgmt

Debt = 0

Cash ($mm)= $42

FD Cash ($mm)= $65

12 month burn rate ($mm)= $30

QQ

 

[LOR]

Here's a post from AB. Yeesterday they had allot of rumors about another glory hole at AT12 that is as good as hole #5 at Eagle 1. Hopefully the SP will start moving higher.

One more thing
Posted by: glorieux on July 25, 2008 10:05AM

About the my discussion yesterday

Management feels we will have the biggest Chrome mine in the world both in tonnage and in grade. Prof Mungall is currently preparing a report that will be included in the 43-101 full report (which is due no later than August 15th as per SEC regulations). The report will discuss the Chrome deposit, grade, size and this will allow management to discuss this Chrome story more appropriatly. The world is just not getting it right now. But when management is more excited about Chrome than 7% nickel and 52oz per ton gold, you know there is a big story here. Richard is staying behind right now. Neil Novak along with the new CFO have left for a promotional tour of the west coast of the US. This should bring in more big investors who will realize what we have.

Hold on tight to those shares...my sources are saying we will be getting 3 NR next week alone!!!

Glorieux

 

[LOR]

selkirk, I know you didn't think the Chrome story would get the public to buy into NOT. Do you still think that? Here is another post from AB.

RN kept on talking the Chrome story: bigger than everyone think
Posted by: bernardho on July 25, 2008 10:58AM

In response to: Re: fyi Genuity Report - typo? by glorieux




Chrome mine,may be the first big discovery in North america..is situated in Noront area, I do think that SPQ, KWG Fwr , cos around Noront will be benefited by this discovery, since the report will be available before 15 Aug, any cos that have or can drill holes with Chromium will be benifited...SPQ and KWG are very much undervalued.




about the AT12 hole 3 , rumours compare it with hole 5 in eagle 1, I do believe we will not have that straightforward comparison until the assays result comes back in late September /October...

may be now the focus will be on the study of CR done by SPQ ; the Noront news about CR and the 43-101 report by Dr. Mungull on or before 15 August. ( 3 weeks to go )

BH

 

[LOR]

Here's a post from AB. No wonder Nemis said chromium is the sleeper of the year, hopefully it will wake up very soon.

Why Nemis is excited about chromium values at Blackbird 1
Posted by: rodg45 on July 25, 2008 07:54PM

I've been checking chromium ore prices, and it looks like $400/tonne is the going rate for selling raw ore comparable to ours (containing about 40% Cr2O3 {i.e., chromic oxide}). So, just for digging it out of the ground and putting it on a ship somewhere will bring that price for the raw ore. However, chromic oxide is 68.42% chromium. The processed chromium out of a metric tonne of rock at our Blackbird 1 deposit would be about 25% of a metric tonne (multiplying 0.40 times 0.6842). Chromium is selling for around $13,000 per metric tonne. That means that the final product value of pure chromium processed from one tonne of this high grade chromium ore at Blackbird 1 is worth about $3,000. Remember, our best high grade chromite hole was 49 meters (and every every cubic meter of such rock would weigh about 2 to 2 1/2 tonnes).

To see prices to sell chromium ore comparable to ours (i.e., with aprox. 40% Cr2O3) click on the following links:

Re: Why Nemis is excited about chromium values at Blackbird 1
Posted by: glorieux on July 25, 2008 08:07PM

In response to: Why Nemis is excited about ... by rodg45

Hey Rodg...we missed ya!!! Nice comeback post. Yeah, it is easy to understand it when you put it like that. I guess this is why Richard so badly wants that 43-101 out. With the report from Dr. Mungall in the 43-101, discussing Chrome and comparing our chrome to Bushveld will now be allowed. The market will better grasp what we have. I got a PM earlier asking how I could be so certain of myself when I said a NR with the full report 43-101 was guaranteed within 3 weeks. The reason is simple: Regulations demand it! When a company writes a resource estimate 43-101, they then have 45 days to deliver the complete 43-101 report. So Noront will have a major NR within 3 weeks.

The next three weeks should see our SP appreciate as we get closer to this guaranteed major report.

Glorieux

 

[LOR]

This was posted at AB.

Noront in the news
Posted by: seawind on July 26, 2008 12:22PM

Posted By GREGORY REYNOLDS (North Bay Nugget)

The results of a single diamond drill hole announced in August of 2007 set off a massive staking rush into the muskeg swamps of the James Bay Lowlands. Someone, after looking at a satellite picture of the area, came up with a name for it -- the Ring of Fire.

The name quickly became a part of Canadian mining lore and today more than 00 companies have holdings inside the ring.

It will take several hundred million dollars

to determine whether a new Sudbury Basin type base metal mining camp is being born but the promoters' hype is that it is so.

That original hole was pulled by a junior company that, as did so many other small exploration ventures, survived ups and downs over the years. Still, Noront Resources Ltd. persevered and it appears Lady Luck has finally asked it to the dance.

What is interesting about the Noront discovery, known as the McFaulds Lake area Double Eagle Project, is that the Aug. 28, 2007 announcement merely hinted at a big find.

Two holes had been drilled: Hole 1 had visible copper sulphide mineralization, hole 2 hit similar mineralization. The total mineralized sulphide zones in the two holes was 151.9 metres.

What drew other juniors to speculate about the drill program was the company saying that all unnecessary communication from the field camp has been curtailed, the local workers (drillers, pilots and First Nation workers) have been briefed on security measures that are now being implemented with respect to information discussion and release."

Someone knew something about the situation because veteran prospector and claim staker Ed Korba was at his country home outside of Iroquois Falls at 8 a. m. Aug. 28 when he got a call asking if he was available.

When he said he was, a mining official said a helicopter would pick him up at his home in a few hours and by 4.30 p. m. he was swinging an axe staking claims."

Within three days the Webequie Airport resembled Pearson International with the number of aircraft taking off and landing.

Ed has since worked for several mining companies.

Months later, Noront had completed 5,047 metres of diamond drilling in 27 drill holes and was able to announce that current drill results include 117 metres grading

4.1 per cent nickel, 2.2 per cent copper, 2.1 grams per tonne platinum, and 7.1 grams per tonne palladium beginning seven metres below the surface.

It was a wild ride for Noront and its shareholders in 2007 and it to 2008 as favourable results kept coming. In June, Noront was named to the 2008 TSX Venture 50, a ranking of Canada's top

emerging public companies listed on TSX Venture Exchange. Within the TSX Venture 50, Noront Resources was the number one ranked company in the mining category.

The TSX Venture 50 identifies the top 10 companies in five major industry sectors, based on a ranking formula that includes revenue, return on

i nve stmen t , market cap growth and trading volume.

For Korba, being in a muskeg swamp fighting off mosquitoes, black flies, horseflies and other insects he can't even name, was nothing new. In the last 28 years, he has worked in Tibet, Norway,

Colorado, Labrador, Quebec and throughout Ontario. Muskeg comprises large (and often deep) puddles of water surrounding occasional clumps of solid ground.

The vegetation is cranberry-style shrubs and black spruce that stop growing between 15 and 20 feet.

You can walk about but with great difficulty," says Ed.

A few years back he decided the solution to the problem of walking through water and mire was to use solid snowshoes.

A lot of guys laughed at me when I started out on my snowshoes in the middle of summer but soon most of the men were using them in muskeg."

He estimates there is a 25 per cent saving in energy when one walks on snowshoes.

He recently led a party of five to Webequie, and when he came out for supplies, he talked about the rigours of working in the James Bay Lowlands.

By the time a drum of jet fuel is poured into a helicopter it costs around $800.

A large chopper will burn a drum an hour and all a small chopper gets is about two to two and an half hours."

It is expensive to provide food and shelter to a field crew but the companies know a major find is made maybe every 20 to 25 years and it's the devil that gets the hindmost in a staking rush.

For the men, the wages are good but working out-of-doors and having the independence of deciding when and where you will work is equally important.

Everything is done by chopper. Ed books one days in advance as the demand is putting a strain on available machines. His supply flight covered 630 km from Timmins to the First Nation village of Webequie. The ring is about 70 km east of Webequie.

There he rents rooms in an eight-bedroom crew house built by the band for visiting contractors and supply personnel.

For mining people it is a h e ave n -s e n t facility as are the airport and a six-room motel that sleeps 12.

All the rooms are constantly full but since there are several hundred men working on the various exploration sites, the bulk live in prospectors' tents.

These are usually 16 by 14 feet with a plywood floor on spruce logs and four feet high spruce walls topped by a canvas tent. These sleep four people and are heated by an oil furnace.

Every day a copper takes my party 30 to 90 km into the muskeg for a six to eight hour shift," Ed said.

Some men pack a lunch but others prefer to keep moving. You work in a cloud of mosquitoes and black flies. I wear a bug jacket (with a hood over the head) and lots of (insect repellent) on my skin.

Recently, I bent my arm and about a quarter inch of skin was revealed between my glove and my jacket and the mosquitoes got to me. It was painful." He grins when he recalls the

arrival of four summer students with Vale Inco, a subsidiary of Brazilian mining giant Vale.

They laughed at my crew on snowshoes in June but after a few hours in the muskeg being bitten by insects and being soaking wet, they saw the value of gliding over the bog rather than sloshing through it.

It is a cultural shock for university students from the south being dropped into a muskeg swamp but at least the company got them rooms in the village."

Webequie has a population of about 800 and the mining activity has produced many economic benefits.

Many band members get jobs with the mining companies. Ed always hires a cook-cleaner for the crew house and at least one claim staker-line cutter.

The flood of money being spent on exploration laps into many Northern communities.

Fixed-wing planes fly out of Timmins but helicopters come from everywhere.

Float planes fly in the bulk of supplies out of Nakina and Pickle Lake and groceries come from Thunder Bay.

Timmins supplies most of the ground workers, claim stakers, line cutters, diamond drillers, technologists and other mining experts.

While Noront gets the credit for putting the spotlight on the Ring of Fire, the actual credit should go to Monopros (former exploration arm of diamond giant DeBeers) that made the initial find drilling for gems.

It optioned the ground to Spider Resources Inc. and its partner, KWG Resources Inc. These two announced a base metal discovery in the area several years before Noront but no one paid attention to them.

Today, the roll call of companies in the area is impressive; Metalex Ventures Corp., Freewest Resources Canada Inc., Canadian Orebodies Inc. (Don McKinnon of Hemlo gold discovery fame and his son Gordon), East West Resources Corp., Mill City Gold Corp., MacDonald Mines Exploration Ltd., Probe Mines Ltd., Temex Resources Corp. and Diamondex Resources Ltd. to name a few of the 100-plus.

 

[selkirk]

Lor NOT which still follow spiked up about 60 cents cdn. on wed? fell back a bit.

may have been gossip of the drilling however probably main reason was that Kinross bought out Aurelian for 1.2 billion. Aurelian has a great gold property one of the best and biggest gold projects in the world....top 5.

the stock would be around 15-20 instead of trading at 6.30. Kinross paid 60 an ounce in the ground however there is plenty of potential to expand the project. the main reason never bought in low 3.50 high 10 is the project is in Ecuador. the governement is to the left....it is okay for a country or state...to raise royalties, however Ecuador is talking about taxes of 25-50%, or just nationlizing the project. maybe kinross can work it out, maybe it is worth the gamble....believe they paid about 400 million more than they had to.....

the stock has gone down since they broke news on Chromium then around 4.25-4.50 however it is still over 3. the small cap sector is very poor curently just very hard to raise funds.

wonder how liquid is the market... should state have made money on rare earth metals, more than doubled money on a stock called tiomen, about 10 years ago...however for the most part thses stocks just lose money.

not sure how big the market is or how liquid, some have high prices but are not easy to get these prices.
you never know who heard moly in 2000.

will post a couple of stocks that are looking at some other of these metals they are high risk.
as for high returns time will tell.


thanks
selkirk

 

[LOR]

Tuesday morning thoughts from tradingChief.

Tuesday morning thoughts

Good morning. Overseas the major Asian and European indices are a sea of red. Once again financial stocks are leading the blood bath. This time the spark for the financial stock sell off, was caused by Merrill Lynch, after they unveiled a $5.7 billion writedown. Market sentiment for the financial stocks is very concerned, we will see more banking writedowns, in the next two or three months. Strong results from the energy stocks, is the one bright spot in the market, or the global indices sell off, would be much worse. There is not much on the economic calendar, to stem the blood letting, as we only have the Consumer Confidence numbers at 10 am, on the agenda, for today. The early futures numbers are pointing to another down opening for the US indices.

Back in McFaulds Lake, it was another day of no news, from NOT. However, NOT bucked the market trend and closed even for the day, but had one of its lowest volume days in months. The rumour of NOT hitting another monster hole at AT-12, apparently has the market in wait and see mode, as many investors are holding on, with the knowledge that good news, could be announced at any time. With the 13(MA) at $3.02 and the 50(MA) at $3.45, NOT's share price is consolidating in between these important support and resistance areas. At some point, as these (MA)'s converge, a breakout one way or the other will happen. Obviously news from NOT will be the catalyst on which way the stock breaks. If NOT can break out atop its 50(MA) and hold the $3.45 level, the 50(MA), would become support and there is nothing but blue sky, all the way to the resistance of it's 100(MA) around the $4.40 mark.

On deck for NOT we could be getting a news release at any time, on the visuals from AT-12, or an expected news release on a 43-101, from the chrome deposit of Blackbird One. The 43-101 is badly needed, so investors can finally put a valuation on the chrome deposit and it will help to put a floor on NOT's share price. At this point in NOT's discovery stage, its all about tonnage. Tonnage is the deciding factor if there is enough value in the ground to make a mine viable. The AT-12 news, if it as good as the rumours, could/should be the spark that takes NOT's share price to the next level. At current share prices, it is my opinion that investors will do very well shortly. NOT has so many irons in the fire, it is hard to imagine the share price staying this cheap much longer. JMHO

Word out of FNC is drilling is expected to commence on Friday. Peter Smith will give us a news release to announce once drilling has actually started. It is also expected that FNC will split off into 2 separate companies shortly. One will be the old FNC, with its McFaulds Lake property and the new one, will be for the Magpie Mining iron ore deposit. For each share of FNC that you currently own, you will end up with, one new share of Magpie. Once drilling is announced, via a news release from Smith, my bet is we see some speculative fever and FNC's share price will get volatile. With only 27.5 million o/s shares and close to half of them in insiders hands, this play should get exciting on expectations of finding the motherlode on FNC's property. A hit by FNC and investors can put the tonnage issue with NOT, to bed, once and for all. My plan is to take a position in FNC sometime this week.

The three letters, PRB, spells out frustration. There is just a total lack of investor excitement with this stock currently. The volume has been anemic, at best, and the expected speculative fever just hasn't occurred. The McFaulds West property with its current drill program has failed to live up to expectations, so far. We should be getting a visual update from Palmer at any time. I would imagine that drilling is finished or very near to being completed. Palmer has promised us a news release for a visual update, once drilling has been completed on this property. I realize Palmer runs a tight ship, but we have heard no rumours, no leaks, no nothing, ever since they started drilling McFaulds West. The market could use a big surprise from PRB, to shake up the entire McFaulds Lake investment scene. Currently investors are off chasing the Sask coal plays and McFaulds Lake is on the back burner. Hopefully there is room for both of these plays to take off.

FWR is still struggling to get its share price over the $.30 level. Lots of paper that needs to be cleaned up at the $.30 and $.35 levels from past PP's. FWR has some excellent looking properties in McFaulds Lake and once this PP paper is cleaned up, it is hard to imagine the share price staying down at current share price levels. FWR and NOT are two very close knitted stocks, they even share some JV's, with soon to be announced, drilling plans. I still believe FWR is an excellent stock to own, for those with a longer time frame. This is most likely a great opportunity to get some shares on the cheap, while this PP mess is cleaned up. It is possible the share price is being held down because another PP is in the works. Food for thought.

Yesterday we got a news release from TME announcing they plan to start a drill program on August 5th on one of their many properties in McFaulds Lake. The plan is to drill 20 separate high priority geophysical targets with this drill program. None of the properties have any history of being drill tested, so investors may be in for a few surprises shortly. TME is definitely a stock to put on your radar, as we should be getting lots of news over the next month or so from this stock.

UC also announced drilling plans in McFaulds Lake yesterday. Drilling will commence some time in the 3rd quarter, so investors have lots of time to start a position in this stock.

With so many drilling programs under way or about to start shortly, it is only a matter of time before someone makes a significant discovery in McFaulds Lake. These companies aren't spending hundreds of million of dollars on a whim. They all think they have a shot at discovering something of significance or they wouldn't be here. It has occurred to me, we need to start a list, complete with time frames for drilling, so we can better follow some of the many McFaulds Lake stocks. If anyone knows of a stock that I don't cover on a regular basis, that is currently drilling or about to shortly, please give this board an update. Once we have amassed all the info, I will put out a list, to keep the many readers of this board, informed on which stocks, we should be watching.


Best of luck to all McFaulds Lake investors.




Al

 

[LOR]

NEWS - Noront Announces Additional Chromite Results (Blackbird One)

FerroChrome is worth over $10,000.00/ton or$5+a pound or more...eom...

Posted by: johndefur

Posted by: AGORACOM on July 30, 2008 01:52PM

Second Chrome Occurrence Encountered (Blackbird Two)

TORONTO, ONTARIO - (July 30, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the following update on its chromium exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands. One drill at the AT2 site continues to test the Blackbird One and Eagle Two occurrences at approximately 50 meter centers to further define the extent of these targets. Meanwhile, the second drill, previously assigned to AT2 has completed the first hole on a gravity anomaly located approximately 800 meters to the east of Blackbird One and south of the Eagle One magmatic massive sulphide ("MMS") deposit. Noront is pleased to further announce that bands of massive chromite on this new anomaly have been encountered in two drill holes; assays are pending.

EXPLORATION HIGHLIGHTS

1) Assay results received from four holes (see Table 1) from Blackbird One returned wide widths of significant grade chromite mineralization the best of which averaged 47.8 meters from 365.2 meters onward, averaging 51.1% Cr203 containing 34.9% Cr and 17.1% Fe.

2) New drilling 800 meters to the east of Blackbird One has encountered bands of visual, massive chromite mineralization in hole NOT-08-1G57 and NOT-08-1G59.

Noront has a system of naming new mineral occurrences when they reach a certain level of continuity, size and tenure of mineralization. Nickel, copper occurrences are assigned the name "Eagle". Chromite deposits are assigned the name "Blackbird". The number assigned to each occurrence type is indicative of the order of discovery.

Richard Nemis, President and CEO of Noront states:

"Our successful exploration efforts in the Ring of Fire, have brought Noront forward as one of the most successful exploration groups in North America. We are currently evaluating several mineral occurrences in the area including: The Eagle One Nickel-copper-platinum and palladium deposit that has indicated an encouraging resource warranting further assessment.. The Eagle Two Nickel-copper shear hosted sulphide ("SHS") occurrence has been drill traced beyond 700 meters vertical depth and the Blackbird One chrome occurrence which is considered to be a separate deposit to the Eagle Two deposit is being drill delineated as a prelude to resource definition.

Our exploration team advises that massive chrome has been encountered nearly one kilometer away from Blackbird One. Drilling at this new anomaly, which we have designated as "Blackbird Two" is proceeding and will likely become a delineation drilling program. Our results, together with the recently announced base metal discovery by WSR and Metalex to the north, attest to the vast potential of the Ring of Fire. Noront is working with the various First Nation communities in the area, to employ their people and generate initiatives and business opportunities that have arisen from the increased exploration activity in the area. These projects if ultimately developed, could have a significant positive effect on the economy in Northern Ontario."

The drilling program on our Double Eagle Project continues, with two drills continuing to explore the AT2 airborne anomaly and its possible eastern extension. As announced earlier (May 27, 2008) at AT2, a layered chromite ("LC") occurrence in a peridotite intrusive geological environment was encountered. This occurrence is now referred to as "Blackbird One" so as to distinguish this site from the nearby Eagle Two "SHS" occurrence. While the "LC" mineralization parallels the "SHS" occurrence approximately 50 meters lower in depth, stratigraphically, it overlies the "SHS" mineralization believed to have been formed earlier during the progressive accumulation of the peridotite sill host rock that is now lying overturned.

BLACKBIRD ONE OCCURRENCE (AT2 Anomaly)

The "LC" zone at Blackbird One is best described as a complex of varying thicknesses of massive chromite bearing layers within the Peridotite Sill. These chromitite layers dip steeply at approximately 60 degrees to the west paralleling the contact between the Peridotite Sill and the adjacent Granodiorite. The holes containing significant Chromite mineralization reported to date have delineated a chromite body along a strike length of 125 meters, down to a vertical depth of 500 meters over wide core widths with favorable high Cr/Fe ratios. Blackbird One is open along strike to the north.



Due to the limited number of drill hole and assay results, true widths are not yet determined for the chromite zones at Blackbird One.

Assays are pending for the drill holes recently summarized in Table 2 and Table 3 below and recently completed at the AT2 Anomaly site from the Blackbird One occurrence. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.





Blackbird Two (Gravity Anomaly)

This new chromite occurrence resulted from the drill testing of a gravity anomaly extending eastwards from the Blackbird One occurrence at the AT2 airborne anomaly site. Two holes have been completed along local grid line 4000 East. The two holes scissored one another to confirm dip orientation. Three parallel bands of chromite mineralization were found to extend beneath the gravity anomaly, dipping approx 65 degrees to the northwest within a Periodotite Sill (Ring of Fire) striking northeast. Further drilling of this anomaly will be carried out southeasterly towards the Blackbird One occurrence along the gravity anomaly trend.




INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL

A thorough quality control program has been in effect for the Double Eagle project which includes grouping samples into batches of 35 into which are added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. Coarse reject and pulp duplicates also form part of the QC program. Approximately 10% of the samples are sent to a secondary lab as a monitor on the principal lab. It can be said with confidence that all assays as reported in this Press Release have passed the strict quality control guidelines as set out by Noront's independent Qualified Person ("IQP").

All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digest followed by ICP analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. For final chrome analysis, the samples where elemental chrome using the ICPOES multi-element analysis methodology provides greater than 1% Cr, the samples are then submitted for additional analysis using INAA that involves irradiating the samples prior to final analysis. This methodology provides analysis in percent for elemental Cr as well as Cr2O3 and elemental Fe. For more information on assay methodology please visit the Activation Laboratories Ltd. Website at http://www.actlabsint.com.

Drilling results in this press release have been reviewed in the field and approved for dissemination by Noront's senior management including John Harvey, P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's new Chief Geologist, both being Qualified Persons under Canadian Securities guidelines.

Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,824,783 shares issued to date.

Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updated in real time.

ON BEHALF OF THE BOARD OF DIRECTORS:

R. Nemis, President and Chief Executive Officer

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:


Noront Resources Ltd.
Neil Novak P.Geo.
(416) 864-1456
Fax: (416) 367-5444
Email: info@norontresources.com

 

[LOR]

selkirk, Here is a post grom AB saying what Blackbird 1 is worth$43. per share in regards to todays NR. What are your thought and will you be buying back into NOT? I just can't every tell if the price will go up or down with this stock. I remain long on NOSOF.

Chromite Tonnage Calculations
Posted by: rodg45 on July 30, 2008 06:32PM
In response to: Chromite Tonnage Calculations by AlsoFromSudbury
Good info! This rock is 2 times heavier than I thought! Based on your calculations, but rounding down slightly, to be conservative, I'll adjust the total tonnage figure you gave from 3,450,000 tonnes to 3,000,000 tonnes at an average grade of 36.7% Cr2O3. These grades are currently selling at around $350/tonne (conservative average - you can do your own research at www.alibaba.com ). From the article we saw the other day (I believe it was Miskealp who provided that on Tuesday), we saw that the proccessed chromium ore was worth around 10 times the value of the raw ore. So, multiply $350/tonne times 10 (or being again conservative - lets say $300/tonne times 10) and we get a value of $3,000 per tonne value of this ore after being processed. Multiply that $3,000/tonne times the etimated total of tonnes (conservatively 3,000,000 tonnes) and you have a total value for the processed ore of $9 billion dollars. Even if it cost 3 billion for infrastructure, mine development, and processing costs, that still leaves a very huge profit! If you divide $6 billion into the 130,000,000 shares outstanding, that would be a profit of $43.00 per share! Not bad!!! And that is just for the Blackbirds!!!

 

[LOR]

Thursday morning thoughts from TradingChief

Good morning. On the overseas markets we have the Asian indices showing small gains and in Europe the major indices are all showing solid gains. In Europe we have mining stocks leading the uptrend on solid earnings and firmer metal prices. We have a big day on the economic calendar with Chain-Deflator-Adv, Employment Cost Index, GDP-Adv, and Initial Jobless Claims numbers, all at 8:30 am. At 9:45 am we get the Chicago PMI numbers. Some of these numbers are market movers which make the early futures numbers for the US indices meaningless at the time of writing my thoughts. The strength in mining stocks overseas, should bode well for the Canadian indices today.

Back in McFaulds Lake, NOT picked up the volume and traded up over 4%, yesterday. They had a news release with assay results from their Blackbird One chrome deposit. NOT's share price ran up, but failed at the resistance of it's 50(MA). The assay results from Blackbird One were very important, not only for there good chrome values, but now we can expect to get a 43-101 on this deposit. The market is having trouble putting a valuation on Blackbird One, so the sooner we get the 43-101 the better. Once the 43-101 is received we should be able to put a floor on NOT's share price and finally figure out where NOT's market cap valuation should be.

Today, if we can get some follow through, a close above the 50(MA) at $3.39 and the resistance of this important moving average, would turn into support. Holding the 50(MA) as support, should give the share price room to run as the next heavy resistance level would be around $4.33 the 100(MA). It is expected we will get a series of news releases from NOT in the very near future. We can now expect the 43-101 from the Blackbird One deposit at any time and we should be getting a visual update from the AT-12 drilling program. The rumour is, we can expect to get numbers much like the Eagle One deposit had, from this new AT-12 discovery. If true, the possibility of a new 52 week high enters into the equation. Also on the rumour mill is NOT is in talks with a major to take a stake in the company. This would make sense as Nemis stated long ago, the McFaulds Lake discovery was far too big for a company of NOT's size, to handle. It is my belief the risk/reward setup for NOT, is one of the best in the junior mining sector, at current NOT share prices. JMHO

We finally got our share price flush, as expected/predicted from PRB yesterday. The flush only had 91k volume and PRB's share price closed down, a little over 5% for the day. Most of the volume was when the stop losses were run. Those that got stopped out only have themselves to blame, as the McFaulds Lake board, has repeatedly told investors to not use actual stop losses but use mental stop losses, when covering their butts. These MM's on the low volume, TSX-v stocks, are known to pick the pockets, of those who make this mistake. Showing your hand to the MM's on the TSX-v has many risks, perhaps we need to go over this again, at a later date. Of course, if we get bad news from PRB, on this next news release, the ones that got stopped out will be smiling. Now we can only hope the flush was to get rid of the weak hands and not a bad news leak, from the McFaulds West drilling program. The word from Palmer, President of PRB, is we will get a news release today or tomorrow as they were writing up the news release yesterday. The news release will contain the assay results from the Victory property drilling program and a visual update from the McFaulds West drilling program.

MTX/WSR, we got a mini share price spike yesterday, perhaps we are getting close to assay news from this discovery. WSR has a close association with NOT, which helps explain why these assay results are taking so long. PRB has already got assay results back from their Victory drilling program and they were sent into the lab weeks after the WSR core samples. I have no explanation why it takes NOT and associated stocks so long to release assay results. This has always been one gripe I have had with NOT. If anyone knows the reason why NOT's assays take so long, compared to other mining stocks, I would love to hear it.

FNC's share price continued to show strength yesterday. It is expected we get a news release from Peter Smith tomorrow, announcing the drilling program has started on this property. There still are a lot of shorts on this stock, that need to cover, so it could get very interesting shortly. I still haven't taken a position in this stock because I'm expecting a share price flush to afford an opportunity for these shorts to cover. Hopefully I haven't called this one wrong, because if the expected share price flush doesn't happen, I will be paying a lot more than anticipated, for a seat at the table. I have followed this stock for too long, to miss out on the opportunity to see if Peter Smith knew what he was talking about, many months ago. I still remember Smith's prediction in the late fall of 2007 that FNC has 2/3 rds of the Eagle One discovery on their property. If Smith's prediction comes true, FNC will truly become the top junior mining story of 2008 in Canada.

Currently there are numerous drill programs underway in McFaulds Lake. The chances of success for a few of these to come up with a discovery of significance has very good odds. Finding one of these discoveries is like finding a needle in the proverbial haystack. However with all the advances in technology, the odds are much greater than ever before, to pinpoint the exact locations to drill. It is my belief we are on the verge of turning McFaulds Lake into a major mining camp. It will take years for this discovery to play out and there will be many ups and downs. But have no doubt, McFaulds Lake is a discovery of 1st class significance for Canada. JMHO

Best of luck to all McFaulds Lake investors.




Al

 

[LOR]

Post from AB.

Just spoke with Richard
Posted by: tcp1002 on July 31, 2008 03:38PM

He was busy as I tried 4 times yesterday and twice today. Yesterday he was working on the news releas.

Windfall- They are down to zone 11 and 17 and have to go to zone 100. This is for phase 1 of the project. They will reach zone 100 by the end of September early October. In the next two weeks they have to make a decision on phase II. Isked if it looked good to proceed and he said "Oh Yea!". He said they are stock piling all the rock that comes out and it will be tested at some pont befor eit is sent to a mill. He said it looks good so far and told me to look at the website for the museum piece which turns out to be 3,000 oz per ton for that piece.

Mexico- The courts have ruled and he is waiting for final report on what it will cost and it is very close to having the issues resolved. He has been aproached by several companies that want to drill on the properties. Richard said this is what he will do, he will pick some one to drill and spend the money while we retain part ownership. He said there is too much going on right now and it would be beter to have another company doing the drilling.

China- Will be commencing drilling by the end of this summer.

Burnt Hill- Doesn't know what is happening

Double Eagle- I asked about the 43-101 and he it will be completed by August the 15th. Then he said he will be able to talk about the find we have with the Chromite and what it means. He was very pleased with the Chromite and I asked which of the majors are involved with Chromite. He said XSTRATA has the biggest Chromite operation. I asked if they know about our find and he said "Oh Yea!". Can't say more about this but it looks really good for Noront and time will show it.

We talked about the drills and he said that the 3rd drill is in the Blackbird 2 area. He has a fourth drill coming in a week and it will be put in the north end of the belt on our property where WSR, Mettalex and Orbit are. I asked if the movement on WSR and MTX today has anyhting to do with us and he said no. He said WSR is moving up because the guy that runs it also owns a company called Gold Eagle and there was a takeover bid on it today for $1.9 billion by anothe rcompany. He said that guy made $150 million today.

I also asked if there was going to be a promotion and he said they are out on the west coast right now and will also be going to Europe in the next while. The promotion is on.

I asked if there was blue sky ahead and he said it's all blue sky!

That's all I can remember for now. If I think of anything else I will post. Overall he was positive and we just need to be patient guys. Things will happen. I feel very fortunate to be an owner of Noront shares. Still holding strong.

GLTA, and lets havea great summer. Gotta go back to working on my back yard now. Tcp.

 

[selkirk]

NOT is performing better now at 3.30. however will only look at buying if it crosses $4, for a trade.

was up slightly today, most of it probably on news that Goldcorp paid 1.5 billion for Gold Eagle mines, which has property connected to the Red Lake mine, one of the richest in North America. since they will need to replace reserves they decided to pick up the jr... also before someone else bought it.

saw the CEO of Goldcorp on CNBC talking about the purchase, and the host and guest kept on playing on how easy it was to increase reserves for goldcorp. after the planned mines come on stream goldcorp will have trouble maintaing production. look at any gold sr. and most of them will be lucky to replace reserves in ten years.

however the two at cnbc talked about all that had to be done was increase reserves in oil and materials,....that is just so easy. look at the number of mining projects in the US that are burried or delayed by red tape.... and worldwide. there are only a few states and countries in the world you would even want a mining project....
supplies will decline in five years......not increase.


do not believe the high value yet, the project has to be driiled up, not sure why they have so many projects they should concentrate on one or two and that is yet...get the project to feasiblity stage quickly if it can.....

by the way 3 billion for costs might be very optomistic.....some of the roughest territory in Canada.../world.

historical fact... when they built the railway in the late 1800s to connect eastern Canada to BC...the rocky mountains were very difficult however the most difficult was Northern Ontario, it was the last to be completed....

thanks
selkirk

 

[freelancc]

however will only look at buying if it crosses $4, for a trade.

i agree on the waiting a bit longer until there is some concrete findings/earnings.

i have never before seen so much written about any stock in my whole life than this stock on a gambling forum of all places

there are so many hidden expenses and red tape involved with this :0corn