Noront Resources Ltd.

Noront Resources Ltd.

July 15, 2013 15:08 ET

Noront Announces Grant of Stock Options and Issuance of Interest Shares

TORONTO, ONTARIO--(Marketwired - July 15, 2013) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE:NOT) reports that the Board of Directors has granted options to acquire an aggregate of 4,850,000 common shares of Noront ("Common Shares") to directors, officers and employees, at an exercise price of $0.25 cents for a period of five years. The options were granted pursuant to Noront's stock option plan and are subject to regulatory approval.

The Company also announces that pursuant to the loan agreement entered into between Noront and Resource Capital Funds V L.P. ("RCF") on February 26, 2013, it has satisfied the payment of interest for the second quarter of calendar 2013 by delivery of 1,438,205 Common Shares (the "Interest Shares") to RCF, at an effective price of $0.2743 per Interest Share. The Interest Shares are subject to a four month hold period which will expire on November 18, 2013.

After giving effect to the issuance of the Interest Shares, the Company will have 233,188,760 Common Shares issued and outstanding.

In addition, the Company will be issuing, subject to approval of the TSX Venture Exchange, 70,000 Common Shares at a deemed price of $0.45 per share to a third party consultant.

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.

For further information please visit Noront's website at: or search the Company's publically filed documents on SEDAR at:


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.

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