From last press release 

Noront wishes to advise that due to the excessive amount of work relating to the company's recent nickel discovery in addition to the current work programs being conducted on its Windfall Lake gold project and its Burnt Hill tungsten molybdenum project, that the Directors felt that it was appropriate to compensate the directors, officers and employees for the additional efforts being put upon them at this time, by issuing the following stock options directors 125,000, officers 175,000 and employees and consultants 225,000 for an aggregate options to acquire 525,000 shares. All options are exercisable for a period of 5 years at a price of $5.13 per common share.