Agoracom: Small Cap Investment - Noront Resources - JV with Passport

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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irish1111

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JV with Passport - Noront (PR on Stockwatch)

posted on Sep 03, 2008 03:35AM

Passport gets TSX-V approval for option with Noront

2008-09-03 05:53 ET - News Release

See News Release (C-PPI) Passport Metals Inc

Mr. Richard Hunter of Passport reports

PASSPORT METALS INC. - JV APPROVED

On Aug. 28, 2008, the TSX Venture Exchange accepted for filing Passport Metals Inc.'s joint venture option agreement dated July 8, 2008, with Noront Resources Ltd. The company will earn a 50-per-cent interest in mining claims located in the Hudson Bay lowlands, Northeastern Ontario, in the McFaulds Lake area on the "Ring of Fire."

The terms of the agreement include payments totalling $270,000 and a $1,575,000 in exploration expenditures over the next two years, with an initial work commitment of $450,000. The company has issued to Noront 225,000 common shares with a hold period to Dec. 29, 2008, to satisfy the initial cash payment of $90,000.

Bolt Ventures has received a finder's fee of $25,000 and has been issued 100,000 common shares with a hold period to Dec. 29, 2008.