TORONTO, July 24, 2018 (GLOBE NEWSWIRE) — Noront Resources Ltd. (the “Corporation” or “Noront”) announces today that, as a result of a review by staff of the Ontario Securities Commission (“OSC”), the Corporation is issuing the following news release to clarify certain disclosure made with respect to its chromite properties in the James Bay Lowlands of Ontario.
Specifically, the Corporation wishes to clarify that in its Q1-2018 corporate presentation (the “Corporate Presentation”), made available on the Corporation’s website, certain disclosure was made with respect to the development of the nearby Blackbird Chromite deposit and to certain cost estimates and initial capital development amounts. The Corporate Presentation has been revised to amend certain of these references and delete other sections. The revised Corporate Presentation is now available on Noront’s website.
In the Corporation’s Annual Information Form dated April 17, 2018, its MD&A for the year ended December 31, 2017, its MD&A for the quarter ended March 31, 2018 as well as in its Annual Report reference was made to Noront’s internal estimate that the internal rate of return is sufficient to develop the Blackbird Chromite project. This statement is not supported by a technical report and so the Corporation retracts this statement from its continuous disclosure documents.
About Noront Resources
Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. For more information please visit www.norontresources.com.
The technical information presented in this press release has been approved by Ryan Weston, VP, Exploration, a Qualified Person as defined by NI 43-101.
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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 Noront 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 Noront 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; that all conditions precedent to the transactions will be met; 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 Noront; stock market volatility; competition; risk factors disclosed in Noront’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 Noront 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.
No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.