Ontario Approves Terms of Reference for Noront Resources' Eagle's Nest Mine
Allows Provincial Permitting Process to Advance for First Mine in the Ring of Fire
TORONTO, ON--(Marketwired - June 22, 2015) - Noront Resources Ltd. ("Noront") (TSX VENTURE: NOT) has received a Notice of Approval from the Ontario Ministry of Environment and Climate Change on the Terms of Reference for its Eagle's Nest nickel-copper-platinum-palladium project. The Terms of Reference, approved with a number of amendments, allows the company to move forward on the environmental assessment process (EA) for what is expected to be the first mine in the Ring of Fire.
"This is an important step because it allows us to advance the provincial EA process for Eagle's Nest and provides direction on how the province would like us to work with local communities," stated Noront President and CEO, Alan Coutts. "We recognize the significant role First Nations will play in our mine development and we remain eager to sit down with the communities to discuss how we can work together in this important undertaking."
Noront has been collecting baseline environmental data on its Eagle's Nest mine, evaluating impacts and developing mitigation strategies for three years. A draft Environmental Impact Study/Environmental Assessment Report was completed and circulated for comment in December 2013. Going forward, the additional work defined by the Terms of Reference amendments will be integrated into our existing documentation to satisfy both the federal and provincial environmental assessment requirements.
Upon completion of the environmental assessments, Noront will proceed with the acquisition of all regulatory permits and approvals to begin access road and mine site construction activities.
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
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.
Contact
For more information:
Janice Mandel for Noront Resources
janice.mandel@stringcom.com
(647) 300-3853