Noront Acquires Cliffs Chromite Ontario Exploration Camp and Receives Mining Lease Approval
May 23 2014 - 9:00AM
Marketwired
Noront Acquires Cliffs Chromite Ontario Exploration Camp and
Receives Mining Lease Approval
TORONTO, ONTARIO--(Marketwired - May 23, 2014) - Noront
Resources Ltd. ("Noront") (TSX-VENTURE:NOT) has entered into an
agreement with Cliffs Chromite Ontario Inc. ("Cliffs") to acquire
its exploration camp at McFaulds Lake. The transaction, which is
subject to certain conditions, is expected to close during the
third quarter of 2014. Cliffs' exploration camp is located adjacent
to Noront's existing Esker Camp, and will be used as a construction
base for the development of its Eagle's Nest mine.
Noront also received
approval of a Mining Lease application the Company made for its
Eagle's Nest and Blackbird chromite deposits. The lease covers
4,100 hectares in the Ring of Fire and gives Noront the right to
extract mineral products for a period of 21 years subject to
certain requirements of the Mining Act.
Noront Resources
Ltd. is focused on development of the high-grade Eagle's Nest
nickel, copper, platinum and palladium deposit and the high-grade
Blackbird chromite deposit, both of which are located in the James
Bay Lowlands of Ontario in an emerging metals camp known as the
Ring of Fire. www.norontresources.com
CAUTIONARY NOTE
REGARDING FORWARD-LOOKING INFORMATION
This press
release includes certain "forward-looking information" within the
meaning of applicable Canadian securities legislation.
Forward-looking
information is based on reasonable assumptions that have been made
by the Company as at the date of such information and is subject to
known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to: the impact of general business and economic
conditions; risks related to government and environmental
regulation, actual results of current exploration activities,
conclusions of economic evaluations (including those contained in
the Feasibility Study) and changes in project parameters as plans
continue to be refined; problems inherent to the marketability of
base and precious metals; industry conditions, including
fluctuations in the price of base and precious metals, fluctuations
in interest rates; government entities interpreting existing tax
legislation or enacting new tax legislation in a way which
adversely affects the Company; stock market volatility;
competition; risk factors disclosed in the Company's most recent
Management's Discussion and Analysis and Annual Information Form,
available electronically on SEDAR; and such other factors described
or referred to elsewhere herein, including unanticipated and/or
unusual events. Many such factors are beyond Noront's ability to
control or predict.
Although the
Company has attempted to identify important factors that could
cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking
information will prove to be accurate as actual results and future
events could differ materially from those reliant on
forward-looking information.
All of the
forward-looking information given in this press release is
qualified by these cautionary statements and readers are cautioned
not to put undue reliance on forward-looking information due to its
inherent uncertainty. Noront disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise, except as
required by law. This forward-looking information should not be
relied upon as representing the Company's views as of any
date subsequent to the date of this press release.
Noront Resources Ltd.Janice Mandel(647)
300-3853janice.mandel@stringcom.comwww.norontresources.com
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