Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Noront Resources

almost 16 years ago

October 14, 2008

Imperial Reports on Commodity Hedges with Lehman Brothers

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2008) - Imperial Metals Corporation (TSX:III) reports that a portion of its commodity hedges are with Lehman Brothers Commodity Services Inc. ("LBCS"), a subsidiary of Lehman Brothers Holdings Inc. ("Lehman"). Both Lehman and LBCS have filed for bankruptcy protection.

The contracts with LBCS represent approximately 20% of the pounds of copper that Imperial has hedged at October 14, 2008. The put contracts with LBCS, all for settlement in 2009, cover a total of 14,550,000 pounds of copper at a weighted average strike price of US$3.05 per pound of copper.

Excluding contracts with LBCS, the Company has the following option contracts as of October 14, 2008:

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