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Marten Falls to own Noront shares under new agreement

Marten Falls First Nation has become a stockholder in Noront Resources under a new agreement that will advance the company's interests in the Ring of Fire region.
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Noront Marten Falls
Marten Falls First Nation Chief Bruce Achneepineskum (left) and Noront president Alan Coutts celebrate an exploration and project advancement agreement for the proposed Eagles Nest mine in the Ring of Fire. (photo supplied)

TORONTO -- Marten Falls First Nation has signed an exploration agreement with Noront Resources that will advance the company's project in the Ring of Fire.

The deal grants Marten Falls 311,111 shares of Noront's stock, currently valued at $0.225 on the Toronto Stock Exchange. It also compensates the First Nation for work that has been completed on its traditional land and outlines a one-year process that could lead to a pre-development agreement for the proposed Eagles Nest nickel-copper-platinum-palladium mine.

Chief Bruce Achneepineskum described the agreement as "a step towards a prosperous and sustainable future for both the youth and community of Marten Falls First Nation."

"We are excited to be taking this next step with our friends in Marten Falls," added Noront President and CEO Alan Coutts. "It marks the beginning of a long-term relationship that will provide opportunity and mutual benefits for both parties."



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