TORONTO, ONTARIO--(June 10, 2008) - Noront Resources Ltd.
("Noront") (TSX VENTURE:NOT) is pleased to
report that the board of directors has made several appointments to
Noront's management team.
Kevin Feeney, C.A., has been appointed Chief Financial Officer of the
company. Mr. Feeney brings significant financial and strategic experience
to the Noront team. Most recently, in his capacity as Vice President, North
American Investments, Finance and Operations for Sun Life Financial
Corporation, he was responsible for designing and implementing processes to
support Sun Life's North American investment business. Mr.. Feeney was also
a corporate design specialist in his role as Chief Financial Officer and
Senior Vice President of Labatt Breweries of Canada (Interbrew S.A.) and
was a key member of the Interbrew global acquisition team that completed the
USD$11B transaction with Ambev, that resulted in a significant
consolidation of the global beer industry. Mr. Feeney also held various
positions with the Trimark group of companies, including that of Chief
Financial Officer and Executive Vice-President for Trimark Investment
Management Inc.
Dr. James E. Mungall Ph.D., P.Geo., joined the Noront team as a consultant
in October of 2007. He has been appointed Chief Geologist. Dr Mungall's
professional experience has included consulting and research work on
magmatic Ni-Cu-Co-PGE deposits, chromitite, magmatic Fe-Ti-V and IOCG and
rare-element granites.
Dr Mungall received M.Sc. and Ph.D degrees from McGill University and has
worked extensively in the exploration business as a consultant since 1996. In 1999 he was appointed Assistant Professor
of Economic Geology at the University of Toronto. He was promoted to
Associate Professor in 2005 and was named Norman Keevil Chair of Ore
Genesis in 2007. He has published extensively on the magmatic sulfide
deposits of the Sudbury and Raglan camps and has edited four books or
special journal issues on Ni-Cu-Co-PGE deposits.
Carmen Diges, LL.M, CFA, has been Corporate Secretary of Noront since 2003.
A partner at McMillan LLP, she has also been lead counsel to the company
during that time. She now assumes the responsibilities of Vice President,
Legal and Business Affairs for Noront. Ms. Diges brings more than fifteen
years of legal experience in the mining sector, encompassing strong
international, capital markets, project development, corporate finance and
mergers and acquisitions skills. She has worked on transactions throughout
six continents and her clients have included governments, Canadian and
international issuers, investors and underwriters.
"The ability of Noront to attract individuals of this caliber to join
our team reflects the evolution of Noront as a company. We look forward to
the contributions of everyone on the management team at Noront to help take
the company to the next level in shareholder value." said Richard
Nemis, President and Chief Executive Officer of Noront.
With the appointment of Mr. Feeney, the board of directors has accepted the
resignation of Mr.. Robert Suttie from the position of Chief Financial
Officer. The board of directors wishes to thank Mr. Suttie for his
contributions to the company and looks forward to his continued involvement
with Noront in a non-executive capacity.
In connection with the restructuring of the roles of existing management,
previously announced by Noront in its press release dated June 6, 2008 and
with the above appointments, Noront has granted an aggregate of 2,005,000
options to purchase common shares of Noront to its directors and officers
for a period of five years at an exercise price of $3.90 per share.
Noront is a tier 2 junior resource company on the TSX Venture Exchange,
trading symbol NOT, with 129,493,883 shares issued to date.
Investors are invited to visit Noront's IR Hub at http://www..agoracom.com/IR/Noront
where they can post questions and receive answers or review questions and
answers already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to NOT@agoracom.com where
they can also request to be added to the investor e-mail list to receive
all future press releases and updates in real time.
ON BEHALF OF THE BOARD OF DIRECTORS:
R. Nemis, President and Chief Executive Officer
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.
Richard Nemis
President and Chief Executive Officer
(416)864-1456
Fax: (416) 367-5444
Email: info@norontresources.com
Website: www..norontresources.com
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