Noront Resources and Aroland First Nation Sign Memorandum of Understanding
June 06 2019 - 10:00AM
Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture:
NOT) and Aroland First Nation are pleased to announce the signing
of a Memorandum of Understanding (MOU) between the two parties to
advance the planning process for the development of the Eagle’s
Nest nickel-copper-platinum-palladium deposit in the Ring of Fire.
The signing of the MOU will formalize the
relationship between the parties including the establishment of an
ongoing working and communication protocol and the initiation of
dialogue regarding mutually beneficial economic development
opportunities. The MOU will also result in Aroland becoming a
shareholder of Noront with the issuance of 150,000 shares in the
Company to the First Nation, subject to TSX Venture Exchange
approval.
Noront recognizes the traditional lands of
Aroland First Nation located at the south end of the proposed
North-South all-season road to the region where the road
infrastructure will connect with established railroads.
“Noront is actively reaching out to the
traditional land holders in the area and engaging them in early
dialogue on how the projects and associated infrastructure will be
developed,” said Alan Coutts, President and CEO of Noront. “We are
excited to begin this journey with our friends in Aroland.”
“Aroland First Nation is advancing responsible
mineral development in collaboration with other area First Nations
in what we call the ‘Mining Hub’ that is growing quickly between
the Geraldton-Beardmore Greenstone belt and the Ring of Fire,” said
Chief Dorothy Towedo of Aroland First Nation. “Our First Nation is
encouraged by Noront’s inclusive approach to advancing mutually
beneficial opportunities with First Nations. Early dialogue is
key.”
Noront previously signed an Exploration and
Project Advancement Agreement with Marten Falls First Nation who is
also a shareholder of the Company.
About Aroland First NationAroland First Nation
is an Anishnawbe First Nation located 60 km north of Geraldton and
20 km west of Nakina on Hwy 643 in Northern Ontario, Canada.
Aroland First Nation is dedicated to delivering and creating
education, health, cultural, and economic opportunities for its
members and conserving its traditional territory.
www.arolandfirstnation.ca
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.
www.norontresources.com
For more information on Aroland First
Nation, please contact:Chief Dorothy
Towedochiefdorothytowedo@gmail.com807-329-5970
For more information on Noront, please
contact:Janice
Mandeljanice.mandel@stringcom.com647-300-3853
Noront Resources (TSXV:NOT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Noront Resources (TSXV:NOT)
Historical Stock Chart
From Apr 2023 to Apr 2024