Noront Clarifies Certain Disclosure
25 July 2018 - 7:05AM
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 ResourcesNoront 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.
For more information:Janice
Mandel janice.mandel@stringcom.com (647) 300-3853
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.
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