Noront Resources

McFaulds Lake Project

• Project Summary
• Resources & Reserves
• Technical Reports
• Eagle's Nest
• Blackbird
• Eagle Two
• AT-12 Anomaly
• Thunderbird
• Triple J Gold Zone
• Blackbird One
• Blackbird Two

McFaulds Lake Project

Jeremy Niemi, Vice President, Geology for Noront Resources is the qualified person who prepared or supervised the preparation of the scientific and technical information disclosed herein.

Eagle's Nest

Summary

The Eagle One (Eagle's Nest) deposit is a magmatic massive sulphide deposit discovered in August 2007, triggering a staking rush in the district. In July 2008, P&E Mining Consultants estimated:

In October 2008, P&E Mining Consultants completed a preliminary economic analysis for Eagle One (Eagle's Nest) that suggested that Eagle One (Eagle's Nest) could be profitably mined. Both P&E reports interpreted the Eagle One deposit to be truncated at a depth of 200 metres from surface.

In June 2009, hole NOT-09-049, a vertical hole drilled at Eagle One, intersected two intervals of mixed massive to disseminated sulphides. The first lens was intersected between 270 and 510 metres and the second lens was intersected from 750 to 950 metres depth. The initial interpretation was that two additional lenses of mineralization, similar to the Eagle One deposit, had been intersected. This prompted the name change from Eagle One to Eagle's Nest.

Follow up drilling determined that rather than three distinct lenses, the Eagle's Nest deposit was a sub-vertical, continuous magmatic massive sulphide body ranging between 100-200 metres on strike and 25-75 metres in thickness. The deposit has been traced by drilling to depth 1,200 metres and mineralization remains open at depth.

In March 2010 Golder Associates updated the Eagle's Nest resource estimate. At a 0% nickel cutoff, the deposit hosts: