URBAN TOWNSHIP, QUEBEC, CANADA – In a continuing effort to keep Noront Resources Ltd. shareholders updated on the Company’s projects, the Company advises with respect to its Windfall Lake gold project located in Urban Township, Quebec, as follows:
The Company has completed the application to the Quebec authorities for the issuance of a permit to complete a proposed exploration decline in order to complete underground bulk sampling proposed on the Windfall project (see press release dated December 29, 2006). The company has encountered significant gold intersections in previous drilling on the property (see www.norontresources.com ) and the goal of the bulk sampling program is to establish continuity of the gold mineralization and to hopefully define a resource for further development.
The Company has put out tenders to a number of contractors and is reviewing various bids to complete the surface work necessary to begin the proposed exploration decline and bulk sampling program. Surface work includes collaring the exploration decline with all necessary ground support infrastructure as well as the construction of a settling pond and various waste, ore and storage pads as required by law.
Tenders for the completion of the proposed underground sampling program will be issued very shortly and upon receipt of the bids, a decision will be made based on these costs and any other factors that may effect the project at that time to proceed with both the surface and underground work proposed.
The exploration decline and bulk samples being proposed are in two phases. The first phase includes 1351 meters of decline at a 12% grade to access the first areas of bulk sampling in an attempt to establish the continuity of the gold mineralization encountered in surface diamond drilling to date. Should the company proceed to phase two, a further 1546 meters of decline will give access to a number of other target locations and provide for the extraction of further bulk samples.
The Company continues to employ two diamond drills on the property, partly to assist in planning the proposed exploration decline and partly to follow-up on a number of mineralized zones indicated in previous drilling. This work is being carried out on Noront’s 100% owned claims and on the claims the Company optioned from Murgor Resources Inc and Freewest Resources Canada Inc. (See press release dated February 5, 2007).
The Company proposes to expand the existing exploration camp to accommodate up to 50 men. The camp and all its appurtenances will be assembled as soon as the underground exploration program has received all final approvals.
Finally, the Company has expanded its service contract with Genivar SEC of Val d’Or (Quebec) to include management, supervision and detailed engineering required on the project.
Stock Option Grant
The Company is pleased to report that it has secured the services of Mr. Ray Penny B.Sc to supervise the ongoing diamond drill program at Windfall Lake and the Directors have approved and granted to Mr. Penny a stock option for 50,000 shares at an exercise price of $0.60 expiring on the 17th day of July, 2012.