Webequie First Nation Frustrated with Noront Resources Ltd. in the Ring of Fire

THUNDER BAY, ON, June 4, 2012 /CNW/ - Today, Webequie First Nation is expressing disappointment with junior mining company Noront Resources Ltd. The First Nation continues to patiently wait to develop a new agreement with Noront Resources Ltd. in order to move forward in its relationship with the company. Currently there is no existing agreement between the two parties for Noront's proposed mine development in the Ring of Fire. More importantly, Noront has stopped supporting Webequie First Nation in both its community engagement and environmental assessment processes. This type of support is necessary to help the community deal with Noront's mine development.

Webequie First Nation Chief Cornelius Wabasse says; "We are disappointed with the slow progress between Noront and our community. We need a process to guide negotiations for an eventual Impacts and Benefits Agreement that will need to be ratified by our community members. This process is normally outlined in a Memorandum of Understanding. Noront has stopped providing the needed resources to continue negotiations."

The exploration agreement that was in place for Noront's Eagle's Nest project has since expired. In order to move forward, Webequie First Nation members need to feel that their traditional lifestyle is being looked after and that community interests are protected through an agreement.

Webequie First Nation will once again try to conclude an MOU with Noront. In the meantime, Webequie First Nation's membership will be reviewing and reconsidering Noront's Eagle's Nest project.

Webequie First Nation is a growing Ojibway community located 540 km north of the city of Thunder Bay. Webequie First Nation is the closest community to the discovery areas in the Ring of Fire and it has over 700 community members, many of which are actively enjoying their traditional cultural practices and harvesting activities.

TORONTO, Feb. 6, 2012 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to announce the remaining results from the Company's 2011 exploration program and to provide an update on the Eagle's Nest Project at the Company's McFaulds Lake Project, in the Ring of Fire, James Bay Lowlands, Ontario.

HIGHLIGHTS:

Nickel sulphide

NOT-11-1G243 intersected 37.3 metres averaging 0.26% Ni, 0.10% Cu, 0.19 g/t Pt and 0.62 g/t Pd
NOT-11-1G244 intersected 2.9 metres averaging 1.01% Ni, 0.02% Cu, 0.03 g/t Pt and 0.05 g/t Pd.

Chromite

NOT-11-1G231 intersected 8.2 metres averaging 39.63% Cr₂O₃ at a 1.94:1 Cr to Fe ratio;
NOT-11-1G236 intersected 6.1 metres averaging 42.19% Cr₂O₃ at a 2.21:1 Cr to Fe ratio and
NOT-11-1G239 intersected 11.5 metres averaging 35.88% Cr₂O₃ at a 2.01:1 Cr to Fe ratio

Wes Hanson, CEO of Noront states: "While drilling to increase the chromite resource at Blackbird continued to return excellent results, the discovery of two new zones of nickel sulphide mineralization, within 500 metres of Eagle's Nest, highlights the tremendous exploration potential of this area. Both zones of nickel sulphide mineralization were identified by a new, ground based geophysical survey that was completed in November. In light of the results, Management decided to expand the survey area to include the Eagle Two and AT12 areas and raised additional flow through funds to drill test the resulting targets during the first quarter of 2012." Mr. Hanson also added: "The Eagle's Nest Feasibility Study is progressing on time and on budget as is the resource update and Preliminary Assessment of the Blackbird chromite deposit. We continue to work closely with all levels of government to identify an environmentally and socially responsible plan for infrastructure development in northwestern Ontario that will allow Noront to meet its objective of commercial nickel production by 2016."

REGIONAL EXPLORATION:

The Company initiated a ground based geophysical survey near the Eagle's Nest deposit in October 2011. The survey established the geophysical signature of the Eagle's Nest deposit, which was then used to evaluate the area around the Eagle's Nest deposit for potential nickel sulphide targets. Multiple targets were identified. All of the targets identified were buried targets, within two to three hundred metres from surface. Three of the buried targets were selected for drill testing based on the strength of the geophysical response and the fit of the target within the litho-structural model of the Eagle's Nest area.

Drilling was completed in early December and visual observation of the core indicated that two of the three holes had intersected nickel sulphide mineralization, suggesting the new geophysics successfully identified previously unrecognized nickel sulphide mineralization. The Company's geologists and geophysical advisors believe the new geophysical survey accurately identifies buried nickel sulphide mineralization that airborne surveys of the camp could not detect.

Company Also Provides Preliminary Capital Estimates for Chromite Project Based on Ongoing Prefeasibility Study

CLEVELAND, Jan. 19, 2012 /CNW/ - Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced projected full-year 2012 capital expenditures expectations. Cliffs plans to invest approximately $1 billion, comprised of approximately $300 million of sustaining capital and $700 million of growth and productivity-improvement capital. Cliffs' 2012 capital budget represents an expected 12% increase over the Company's 2011 capital expenditures of approximately $880 million. Cliffs indicated this amount was less than its previous estimate of $900 million and an original 2011 budget of $1 billion.

(Logo: http://photos.prnewswire.com/prnh/20101104/CLIFFSLOGO )

While plans will continue to be reviewed and adjusted in response to changes in market conditions and other factors, Cliffs' 2012 capital budget is primarily intended to fund the organic growth pipeline the Company has acquired through the completion of a number of strategic transactions in recent years. These transactions have meaningfully diversified Cliffs' business and provided the Company significant exposure to customers outside of its historical North American steelmaking customer base.

In addition to the anticipated $300 million of 2012 sustaining capital, listed below are the significant growth and productivity projects earmarked within each of Cliffs' business segments.

U.S. Iron Ore

In its U.S. Iron Ore business segment, Cliffs anticipates spending $60 million in 2012 related to its previously disclosed project to extend the life of Empire Mine to 2015. This project is expected to allow Empire to continue producing at a rate of approximately 3 million tons of iron ore annually through its remaining mine life.

Eastern Canadian Iron Ore

In its Eastern Canadian Iron Ore business segment, Cliffs anticipates spending the following amounts related to growth of its operations:

• 
  $470 million related to Bloom Lake's Phase II expansion to 16 million tons


• 
  $45 million related to port and rail upgrades in Eastern Canada
  

Asia Pacific Iron Ore

In its Asia Pacific Iron Ore business segment, Cliffs anticipates capital spending of approximately $40 million related to the ongoing capacity expansion of the Koolyanobbing Complex in Western Australia to 11 million tons.

North American Coal

In its North American Coal business segment, Cliffs anticipates capital spending of approximately $50 million related to growing high-volatile metallurgical coal production capacity from its continuous mining operations in West Virginia.

Preliminary Capital Estimates for Cliffs Chromite Project in Northern Ontario

As previously disclosed, Cliffs controls three large chromite deposits in Northern Ontario, Canada. With a timeline to begin production in 2015 from its wholly owned Black Thor deposit, Cliffs is currently in the prefeasibility study phase of the project. As part of prefeasibility, the Company continues to evaluate many factors, scenarios and strategic alternatives that may ultimately impact future investment and timing of the project.

At the time of Cliffs' initial investment in chromite assets in 2009, the Company predicated preliminary comments for capital requirements on a baseline expectation of a project annually producing approximately 600,000 tons of ferrochrome. Subsequently, and after significant additional prefeasibility work, Cliffs now anticipates an expanded project annually producing 1 million tons of export chromite ore concentrate in addition to the original 600,000 tons of ferrochrome.

Preliminary capital estimates for the project, based on prefeasibility work completed to date, include the following major engineering components:

• Mine development – Approximately $150 million


• Near-mine Concentrating Plant – Approximately $800 million


• Ferrochrome Processing Facility – Approximately $1.8 billion

Cliffs also estimates that an integrated transportation system, including an all-weather road servicing the project, would require further investment totaling approximately $600 million, which was not included in Cliffs' initial investment estimate. However, because this transportation system is provincial infrastructure required for the general use of remote northern communities and other Ring of Fire mining projects, Cliffs anticipates its commitment to invest in the all-weather road would be partial, with the balance to be contributed by other industry participants and government entities.

Cliffs indicated that, although it believes the chromite deposits it controls are world-class, a number of additional studies, including feasibility, and other project milestones need to be achieved before the Company begins allocating a significant portion of capital to the project's construction. Based on the completion of these, Cliffs anticipates a majority of the project's anticipated capital requirements would be made in 2014 and 2015, with an early works program initiated prior to 2014 to maintain project execution timeline. More information about the project will be provided upon completion of the prefeasibility study in the first half of 2012.

About Cliffs Natural Resources Inc.

Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs' strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world's largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.

The Company is organized through a global commercial group responsible for sales and delivery of Cliffs products and a global operations group responsible for the production of the minerals the Company markets. Cliffs operates iron ore and coal mines in North America and two iron ore mining complexes in Western Australia. The Company also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project, in the pre-feasibility stage of development, located in Ontario, Canada.

News releases and other information on the Company are available on the Internet at: http://www.cliffsnaturalresources.com

'Safe Harbor' Statement under the Private Securities Litigation Reform Act of 1995