Shares Outstanding: 175,633,642
Fully Diluted: 187,122,370
TORONTO, June 16 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to announce the signing of a Historical Exploration Agreement (the "Exploration Agreement") between the Company and the Webequie First Nation (the "WFN"), a first nations community in the James Bay Lowlands. The Exploration Agreement deals with the Company's exploration activities from December 1, 2009 to the present day, which were conducted on the traditional lands of the WFN.
The Exploration Agreement includes a Memorandum of Understanding ("MOU") which sets out protocols for conducting exploration activities on traditional lands of the WFN and reinforces the Company's intention to enter into a comprehensive Impact Benefit Agreement in the future. Noront will also be working to sign a similar MOU with the Marten Falls First Nation (the "MFFN"). The Company previously signed a similar Historical Exploration Agreement with the MFFN in April 2009 (see news release dated April 16, 2009).
Wes Hanson, President and CEO stated; "We are extremely pleased to have signed this agreement with the Webequie First Nation. Noront is committed to corporate social responsibility. We want to ensure the environment in which we work and the people with whom we work are treated with dignity and respect so that they can contribute to our combined future successes. We look forward to playing an important role in the development of the Ring of Fire through continued cooperation among Noront, local First Nations, various levels of government and industry."
Chief Cornelius Wabasse, Webequie First Nation stated; "This is a welcome agreement for the Webequie First Nation. The membership of Webequie First Nation looks forward to a positive and meaningful working relationship with Noront. We are committed to this mutually beneficial partnership with Noront, who is attempting to be as inclusive as possible as they continue their exploration activities. Our agreement recognizes that activities associated with mineral properties will be best achieved when Aboriginal and Treaty rights are recognized, and the social, environmental, and cultural well being of the First Nations are in balance with a company's objective to conduct further work on their mineral properties."
About Noront: Noront Resources Ltd. is focused on its significant and multiple, high-grade nickel-copper-platinum-palladium, chromite, gold and vanadium discoveries in an area known as the "Ring of Fire", an emerging multi-metals district located in the James Bay Lowlands of Ontario, Canada. Noront is the dominant land holder at the Ring of Fire and continues to delineate and prove up its discoveries with NI 43-101 technical and economic reports and an aggressive and well financed drill plan for 2010. All material information on Noront can be found on the Company's website at www.norontresources.com or at SEDAR at www.sedar.com
Wesley (Wes) Hanson
President & Chief Executive Officer
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company's publicly filed documents. Although Noront has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE NORONT RESOURCES LTD.
For further information: For further information: Joanne Jobin, Vice President Corporate Communications at (416) 367-1444, or visit Noront's website at: http://www.norontresources.com