NORONT GRANTS OPTIONS
May 05 2011 - 11:12AM
PR Newswire (Canada)
TORONTO, May 5 /CNW/ -- TORONTO, May 5 /CNW/ - Noront Resources
Ltd. ("Noront" or the "Company") (TSX Venture: NOT) reports that
the Board of Directors has granted an aggregate of 3,450,000
incentive stock options to officers, directors, employees and
consultants of the Company, exercisable at a price of $0.88 for a
period of five years. The stock options were granted pursuant to
Noront's stock option plan and are subject to regulatory approval.
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. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/May2011/05/c9808.html p
Noront at (416) 367-1444, or visit Noront's website at: a
href="http://www.norontresources.com/"http://www.norontresources.com/a.
/p
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