TORONTO, ON–(Marketwired – June 19, 2015) – Noront Resources Ltd. (
Steve is a senior mining executive with more than 30 years of experience in exploration, feasibility planning, project development, construction and operations. He has worked domestically and abroad in a variety of roles and across multiple commodities.
“We are extremely pleased to have Steve join our team,” said Alan Coutts, President and CEO Noront Resources. “His depth of knowledge and breadth of experience in project development will be a tremendous asset as we move forward with our Eagle’s Nest Mine and other projects in the Ring of Fire.”
Most recently, Steve was Senior Vice President, Projects & Exploration at Glencore/Xstrata Nickel with responsibility for worldwide project development and the company’s project pipeline. During this time, he was President of Falcondo, a laterite mining and ferronickel smelting facility in the Dominican Republic.
Steve has held various senior positions at Glencore/Xstrata and its predecessor companies including Vice President, Projects and Engineering; Manager of Mines; and Director of Technical Services. Steve holds an Honours degree in Mining Engineering from Queen’s University and has Professional Engineering status in the province of Ontario.
The Company’s Board of Directors has granted Steve options to acquire an aggregate of 1,500,000 common shares of Noront with an exercise price of $0.435 per common share, the closing market price on the date of grant June 18, 2015 exercisable for a period of five years. The options were granted pursuant to Noront’s stock option plan and are subject to all applicable regulatory and exchange approvals. Performance share units will also be granted in tranches of 500,000 each if, as and when the Company achieves certain development milestones, to a maximum of 1,000,000 performance share units.
About Noront Resources
Noront Resources Ltd. is focused on development of the high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the high-grade chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com
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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.
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