TORONTO, ONTARIO -- (Marketwire) -- 03/28/13 -- Noront Resources (TSX VENTURE: NOT), as a development stage mining company focused on the development of its Eagle's Nest Mine within the Ring of Fire (James Bay Lowlands of Northern Ontario), is encouraged with the Federal Government's commitment of support for the Ring of Fire and the mining industry.
The Economic Action Plan announced on March 21, 2013 states that the Federal Government has budgeted $4.4 million over three years for the Ring of Fire's Capacity Building Initiative through the Federal Government's Responsible Resource Development Plan. The Initiative, operated under the Federal Economic Development Initiative for Northern Ontario ("FedNor"), provides targeted support to communities directly adjacent to the Ring of Fire. The funding is available for activities such as business skills development, strategic business planning and Aboriginal youth engagement which are designed to ensure that First Nations benefit fully from resource development opportunities associated with Ring of Fire projects.
"It is clear after reading the Economic Action Plan that the Minister responsible for FedNor and the Ring of Fire, Tony Clement, and the Federal Government have listened to our ideas based upon our experiences in the Ring of Fire," said Chairman and Interim CEO of Noront Resources, Paul Parisotto. Mr. Parisotto added: "We would like to thank the Government for addressing the needs of our industry alongside the legitimate concerns of our First Nations neighbours and partners." Mr. Parisotto further added: "The mining industry has proven it is a strong contributor to Canada's long-term growth and prosperity, and continued investment by all stakeholders will allow the true growth potential of the industry, including the Ring of Fire, to be realized."
Noront Resources plans to begin mine development in 2015 from one of Canada's highest-grade nickel, copper, platinum group elements discoveries and be in commercial production by 2017.
Noront also places great importance in its relationship with Canada's First Nations, seeing them as long-term partners. Noront has established and implemented a comprehensive community-engagement programme to benefit the First Nations communities near the Ring of Fire. Recently Noront was awarded the Mining Magazine 2012 Editor's award for corporate social and environmental responsibility. Noront has recently entered into a partnership with the Matawa First Nations and Confederation College to support training initiatives for the local communities. Noront also supports youth educational camps which are held in the communities each year.
"Noront is here for the long-haul and want to be recognized as a good corporate citizen", Parisotto finishes. "We look forward to continuing our good working relationships and partnerships with the public, our First Nations neighbours and our governments."
To learn more about Noront's positive feasibility study and its economic, socially and environmental sustainable investor plan, please visit www.norontresources.com/?investors#info.
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