Marten Falls First Nation signs compensation agreement with mining company
Press release ...
Noront Resources Signs Historical Compensation Agreement with Marten Falls First Nation
Toronto, Ontario, April 16, 2009 - Noront Resources Ltd. is pleased to announce the formal signing and ratification by Marten Falls First Nation Band Council of a Historical Compensation Agreement with Marten Falls First Nation (“MFFN”). This agreement pertains to Noront’s exploration activities from August 25, 2007 to the end of December 2008 conducted on MFFN Traditional Lands as represented to Noront by MFFN with reference to MFFN member’s trap-lines in the James Bay Lowlands of Ontario, in the mining exploration area commonly referred to as the “Ring of Fire”.
The Agreement recognizes the right of the MFFN to pursue their traditional way of life and serves to address any impact that Noront’s exploration activities have had on their Traditional Lands and traditional pursuits. In addition, Noront and MFFN are currently working together to complete a formal exploration agreement which will cover Noront’s current and future exploration activities in the Ring of Fire.
Paul Parisotto, Interim Co-Chief Executive Officer states that “Noront is pleased to have reached an agreement with the Marten Falls First Nation which respects their Traditional Lands and recognizes their rights to pursue their traditional way of life. We view this agreement as part of the foundation necessary for our future in the Ring of Fire. In the meantime, we are looking forward to the next step which includes finalizing an Exploration Agreement and to continuing our relationship with Marten Falls community, as well as other First Nation Communities in other areas that Noront is exploring in the Ring of Fire.”
Harry Baxter, Chief of Marten Falls First Nations stated “On behalf of the Marten Falls Community membership and our Councilors, we are pleased that we have reached this agreement with Noront which addresses our concerns regarding the respect of our lands and way of life. We value moving forward with our new neighbors and look forward to a long and mutually beneficial relationship with Noront.”
This press release has been reviewed and approved for dissemination by Noront’s senior management including Neil Novak, P.Geo, Vice President Corporate and Aboriginal Affairs.
Noront is a tier two junior resource company on the TSX Venture Exchange, trading symbol NOT, with 153,722,283 shares issued to date.
For further information please contact the Investor Relations Department at (416) 238 7226, or visit Noront’s website at: http://www.norontresources.com