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Noront Resources Ltd.
("Noront" or the "Company") (CDNX:NOT.V) advises that it has received a notice on
January 25, 2010 from the Marten Falls First
Nation ("Marten Falls") seeking the immediate termination of all
exploration activity by all companies currently operating in the Ring of
Fire, James Bay Lowlands, Ontario.
The requested work stoppage apparently
results from a dispute between Marten Falls and KWG/Fancamp on the
consultation process required prior to the construction of their new
exploration camp located on Koper Lake. Noront has no relationship with
KWG/Fancamp or the new camp.
To date there have been no protests
interfering with Noront's exploration activities. Noront has 50 people
currently working in our Esker Camp, 20 of whom are
self identified members of First Nation communities from Northern Ontario. We
intend to continue with our activities and providing employment for our staff
and contractors.
The Ontario government has been informed
of our decision to continue work on site. In addition, Noront has offered to
participate in negotiations with any combination of Government, Marten Falls
and Industry in discussions that would help resolve this dispute.
About Noront: Noront Resources Ltd. is focused
on its significant and multiple, high-grade nickel-copper-platinum-palladium,
chromite, gold and vanadium discoveries in an area known as the "Ring of
Fire", an emerging multi-metals district located in the James Bay Lowlands of Ontario, Canada. Noront is the largest land holder at the
Ring of Fire and continues to delineate and prove up its discoveries with NI
43-101 technical and economic reports and an aggressive and well financed
drill plan for 2011. All material information on Noront can be found on the
Company's website at www.norontresources.com
or at SEDAR at www.sedar.com.
Wesley
(Wes) Hanson
President & Chief Executive Officer
FORWARD LOOKING STATEMENTS
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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