http://markets.businessinsider.com/news/stocks/Update-on-Ferrochrome-Production-Site-and-Exploration-Activity-1014967290

Ferrorchrome Production FacilityNoront has engaged Hatch, a Mississauga, Ontario-based engineering and consulting company to assist in adjudicating the bids. Next steps include calculating indicative capital and operating costs and reviewing these alongside community and First Nations support, site appropriateness, environmental factors, access to a skilled workforce and other elements.Near the conclusion of this detailed analysis, Noront will engage directly with the owners of the favoured site(s) to come to a mutually agreeable commercial arrangement for the use of the property.The Company estimates the adjudication process will conclude in three to four months depending on the competitiveness and complexity of the bids and the ensuing commercial negotiations. A decision will be publicly announced at that time along with the criteria and rationale for site selection. Exploration UpdateCyr Drilling in partnership with Webequie First Nation began a 3-hole drill program targeting high-grade copper-zinc mineralization at our McFaulds Lake VMS property. This is taking place at a recently discovered, high-priority electromagnetic (EM) anomaly located midway between the McFaulds No.3 and No.1 deposits (See Figure 1). In addition, up-dip drilling will take place on the newly discovered McFaulds No.8 copper-zinc VMS occurrence. (See press releases dated September 26, 2017 and November 27, 2017 for further detail.)In conjunction with drilling activities, Crone Geophysics will perform ground EM surveys over three high-priority VMS targets on the property (Figure 1) as well as borehole-EM surveying of the planned drill holes. “We are very excited about the continued discovery potential at the McFaulds VMS camp and look forward to providing shareholders with additional exploration updates in the weeks to come,” said Noront Vice President Exploration, Ryan Weston.RCF Interest PaymentPursuant to its convertible debt facility with Resource Capital Fund V (RCF), Noront satisfied payment of interest in the amount of $377,130 for the fourth quarter of 2017 by delivery of 1,214,981 common shares of the Company (the “Interest Shares”) at an effective price of $0.3104 per Interest Share. The Interest Shares were delivered on January 25, 2017 subject to a four month and one-day hold period, expiring on May 26, 2018.The calculation of the number of Interest Shares issued was based on the volume weighted average trading price of the common shares of the Company during the 20 trading days prior to December 31, 2017.  After giving effect to the issuance of the Interest Shares, there are 346,676,642 common shares of the Company issued and outstanding.About Noront ResourcesNoront Resources Ltd. is focused on development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and 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.comRyan Weston, M.Sc., MBA, P.Geo, Vice-President, Exploration, Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”), has reviewed and approved for the technical information contained in this press release.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure 1: Location of planned drilling and EM targets, McFaulds VMS property