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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Message: Dundee Capital: Noront Signs Exploration Agreement with Webequie First Nations
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BUY, Speculative Risk*

12-month target price: C$2.90

Overview

  • Noront announced today the signing of an exploration agreement between the Company and the Webequie First Nation (the "WFN").
  • The exploration agreement deals with the Company's exploration activities from December 1, 2009 to the present day, which were conducted on the traditional lands of the WFN.
  • The agreement includes a Memorandum of Understanding ("MOU"), setting out the protocols for conducting exploration activities on traditional lands of the WFN and reinforces Noront's intention to enter into a comprehensive Impact Benefit Agreement in the future.
  • Noront will also look to sign a similar MOU with the Marten Falls First Nations ("MFFN"). The Company previously signed a similar MOY with the MFFN in April 2009.

We welcome news that management continues to engage positively with the First Nations communities in the James Bay Lowlands. Establishing a positive working relationship is crucial to Noront's success in the "Ring of Fire”.

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