Yay: another traveling montage. This one is less marshes and more mountains.
The fellowship stops to take a rest. Boromir is teaching Merry and Pippin how to sword fight.
A large flock (or should we say murder) of crows starts flying their way and everyone quickly dips out of sight.
They are spies of Saruman, and Gandalf knows the passage south is being watched.
They must instead take a treacherous pass through the Misty Mountains (because Gandalf would not dare go through them, using the Mines of Moria, despite Gimli's suggestion).
Frodo trips in the snow and loses the Ring, which Boromir picks up. He hands it back to Frodo who snatches it, but not before he stares at it, mesmerized that something so small could cause so much trouble.
In Isengard, Saruman is aware of their passage and is using his magic to make the mountains more difficult.
The fellowship is almost crushed by snow and the weather is worsening.
Saruman knows Gandalf fears the mines but Frodo gets to decide and, unaware of the danger, chooses to go through Moria.