TORONTO, ONTARIO - (Nov. 10, 2008) -
Noront Resources Ltd. ("Noront")(TSX VENTURE:NOT) wishes to report the following results from its exploration activities in the Ring of Fire portion of the McFaulds Lake area of northern Ontario in the James Bay Lowlands.
Noront in its Eagle One Extension Program has been diamond-drill testing the peridotite north-south striking dike or conduit between the Eagle One deposit and the AT1 anomaly, some 800 meters to the south, since earlier this summer. The most recently completed hole in this program, NOT-08-44, entered the peridotite conduit at 294.2 meters and returned 28.5 meters of copper-nickel sulphide mineralization to 322.7 meters where the hole left the peridotite conduit and continued in granodiorite until its end at 375.0 meters.
Following is a more detailed summary of hole NOT-08-44. Assays from the hole are pending and true widths cannot be determined at this time.
The mineralization intersections reported are from visual observations and the pending assay reports must be awaited to give a more precise estimation of significant mineralization present. Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.
Hole NOT-08-44 is approximately 70 meters vertically below hole NOT-08-28 & 32 previously reported (see press release dated May 8, 2008), which both returned significant core widths of copper-nickel and PGM mineralization from the Eagle One Deposit.
The previously completed eight drill holes (NOT-08-36 to 43) in this Eagle One Extension program were south of the previously known Eagle One Deposit and although they tested the same peridotite host conduit no significant mineralization was encountered.
Drilling is continuing at greater depths beneath the Eagle One Deposit to outline additional copper-nickel-precious metal resources to enhance the economic viability of this deposit. The results of a preliminary assessment of the Eagle One Deposit were released by Noront (see press release dated October 21, 2008) and a full report is expected before December 4, 2008.
Other Noront drills active in the Ring of Fire area include one continuing to delineate the Blackbird chromium deposits and two drills testing airborne geophysical targets elsewhere along the Ring of Fire. When assays pending from the chromium drilling program are received, they will be released as well as assays still pending from the AT-12 anomaly copper-nickel sulphide prospect where initial test drilling was recently completed.
QUALITY CONTROL AND ANALYTICAL PROTOCOLA thorough quality control program is in effect for Noront's analytical work, which includes grouping samples into batches of 35 into each of which are added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. Coarse reject and pulp duplicates also form part of each batch. It can be said with confidence that all assays underway will have passed the strict quality control guidelines as set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong, P.Geo., of P & E Mining Consultants Inc.
Drilling results in this press release have been approved for dissemination by Noront's senior management including John Harvey, P.Eng., Chief Operating Officer of Noront and Dr. Jim Mungall, P.Geo., Chief Geologist, both being Qualified Persons under Canadian Securities guidelines. The visual mineralization reported herein has been verified in the field by J. Atkinson, P. Geo., Exploration Manager for Noront Resources. Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,894,783 shares issued to date.
Investors can also utilize Noront's IR Hub at
http://www.agoracom.com/IR/Noront ON BEHALF OF THE BOARD OF DIRECTORS:
Paul A. Parisotto and Joe Hamilton, Co-Chief Executive Officers
This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.CONTACT INFORMATION:Noront Resources Ltd.
Investor Relations Department
(416) 238-7226
Email: info@norontresources.com
Website:
http://www:norontresources.com
