TORONTO, ONTARIO–(Marketwire – Oct. 19, 2012) – Noront Resources Ltd. (“Noront” or the “Company”) (TSX VENTURE:NOT) is pleased to announce the appointment of Mr. Tom Anselmi to the Board of Directors of Noront subject to approval by the TSX Venture Exchange.
Mr. Anselmi is a professional engineer and is currently President and C.O.O. of Maple Leaf Sports & Entertainment (“MLSE”). A Toronto native, Mr. Anselmi graduated from Ryerson Polytechnic University prior to receiving a degree in civil engineering from the University of Saskatchewan in 1985.
Mr. Anselmi joined MLSE in 1996 as Vice President and Project Director for the overall development of Air Canada Centre. In 2004, he was appointed Executive Vice- President and Chief Operating Officer responsible for the business operations of the Toronto Maple Leafs, Toronto Raptors, Toronto FC and the Toronto Marlies, and in 2012 he was appointed President and C.O.O. Mr. Anselmi has been instrumental in establishing MLSE as one of the most successful sports and entertainment companies in the world.
Mr. Anselmi is a recognized community leader and focused on MLSE’s Team Up Foundation. The MLSE Team Up Foundation strives to improve the lives of kids by funding the refurbishment of local athletic facilities and programs that support kids through sports and recreation.
Wes Hanson, CEO of Noront states: “I am very pleased Tom has agreed to join our Board. Tom understands what it takes to build a world-class business enterprise from the ground up. He realizes the importance of planning and teamwork and the importance of giving back to the communities where you operate. I look forward to working with him as we develop our mineral discoveries in Ontario into a best-in-class mining company.“
The Company advises that the Board of Directors has granted a director an aggregate 300,000 incentive stock option at a price of $0.35 for a period of five years. The options are granted pursuant to Noront’s stock option plan and are subject to regulatory approval.
The Company advises that on October 9th, 2012 an Annual and Special Meeting was held at the Fairmont Royal York where the following directors were elected; Mr. Wes Hanson, Mr. Paul Parisotto, Mr. Joseph Hamilton, Mr. Harry Lin, Mr. Ted Bassett Mr. David Thomas and Mr. Darren Blassutti. The Company also advises that Mr. Paul Parisotto has been reappointed as the Chairman of the Board of Directors for the following year.
About Noront: 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.
Wesley (Wes) Hanson, President & Chief Executive Officer
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.
Manager, Corporate Communications
(416) 367-5444 (FAX)