Noront’s Flagship project is the 100-per-cent owned Eagle’s Nest project, a high-grade nickel-copper-platinum group element (PGE) deposit located in the mineral-rich Ring of Fire region of Northwestern Ontario. The Eagle’s Nest Project will include an underground mine, mineral concentrator and an accommodation complex. The mine life is expected to be 11 years with the potential for 9 additional years of production. Eagle’s Nest will produce 3,000 tonnes of ore per day, which will be mined using underground methods and processed to deliver 150,000 to 250,000 tonnes of nickel, copper and PGE-bearing concentrate per year. EAGLE’S NEST RESERVES AND RESOURCES The mine currently has over 20 million tonnes of proven and probable reserves and inferred resources containing high-grade nickel mineralization with significant copper, palladium and platinum content. Category Tonnes (000) Nickel (%) Copper (%) Platinum (gpt) Palladium (gpt) Proven and Probable Reserves 11,131 1.68 0.87 0.89 3.09 Inferred Resources 8,966 1.10 1.14 1.16 3.49 gpt = grams per tonne Please see the report titled “NI 43-101 Technical Report Feasibility Study McFaulds Lake Property Eagle’s Nest Project James Bay Lowlands Ontario, Canada,” dated October 19th, 2012 (with an effective date of September 4, 2012). A copy of the Technical Report may be accessed under Noront’s company profile on SEDAR at www.sedar.com. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other relevant issues. EAGLE’S NEST PROJECT STATUS The Eagle’s Nest Project is in the permitting phase until clarity on road construction to the Ring of Fire can be reached. Once this is clarified, Noront has outlined a five-year process to update the 2012 feasibility study, modify the current project description, complete the environmental assessment and build this $610 million- project. In June 2015, the provincial government issued an Amended Terms of Reference (ToR) for the EA. We value responsible planning for Eagle’s Nest and have spent the last several years engaging with, listening to and learning from local Ring of Fire communities. Those discussions have helped to shape the project’s development, including a redesign to address concerns about water, tailings and local economic needs. norontresources.com EAGLE’S NEST PAGE 1
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Noront’s Flagship project is the 100-per-cent owned Eagle’s Nest project, a high-grade nickel-copper-platinum group element (PGE) deposit located in the mineral-rich Ring of Fire region of Northwestern Ontario.
The Eagle’s Nest Project will include an underground mine, mineral concentrator and an accommodation complex. The mine life is expected to be 11 years with the potential for 9 additional years of production. Eagle’s Nest will produce 3,000 tonnes of ore per day, which will be mined using underground methods and processed to deliver 150,000 to 250,000 tonnes of nickel, copper and PGE-bearing concentrate per year.
EAGLE’S NEST RESERVES AND RESOURCES
The mine currently has over 20 million tonnes of proven and probable reserves and inferred resources containing high-grade nickel mineralization with significant copper, palladium and platinum content.
Category Tonnes (000) Nickel (%) Copper (%) Platinum
(gpt)Palladium
(gpt)
Proven and Probable Reserves 11,131 1.68 0.87 0.89 3.09
Inferred Resources 8,966 1.10 1.14 1.16 3.49
gpt = grams per tonne Please see the report titled “NI 43-101 Technical Report Feasibility Study McFaulds Lake Property Eagle’s Nest Project James Bay Lowlands Ontario, Canada,” dated October 19th, 2012 (with an effective date of September 4, 2012). A copy of the Technical Report may be accessed under Noront’s company profile on SEDAR at www.sedar.com. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other relevant issues.
EAGLE’S NEST PROJECT STATUS
The Eagle’s Nest Project is in the permitting phase until clarity on road construction to the Ring of Fire can be reached. Once this is clarified, Noront has outlined a five-year process to update the 2012 feasibility study, modify the current project description, complete the environmental assessment and build this $610 million-project.
In June 2015, the provincial government issued an Amended Terms of Reference (ToR) for the EA.
We value responsible planning for Eagle’s Nest and have spent the last several years engaging with, listening to and learning from local Ring of Fire communities. Those discussions have helped to shape the project’s development, including a redesign to address concerns about water, tailings and local economic needs.
norontresources.com
EAGLE’S NEST
PAGE 1
INFRASTRUCTURE DEVELOPMENT
Accessing the Ring of Fire by all-season road is a priority and the Ontario government has committed $1 billion toward infrastructure in the Ring of Fire. Eagle’s Nest will benefit from regional infrastructure that will serve both industry and local First Nation communities.
Currently, two road proposals led by local First Nations are being advanced through permitting; a North-South road from Nakina and an East-West road from Pickle Lake. The proponents of both of these roads are local First Nation communities with access to funding through the Provincial government. Noront is supporting both road proposals by providing environmental assessment and engineering design information. Construction is planned to be completed with minimal impact on the local environment and habitat.
EAGLE’S NEST MINE
3 Underground mine minimizes surface footprint
3 Tailings will be returned underground; no surface tailings pond
3 Minimal discharge of process water due to recycling and paste back-fill
3 High grade, relatively small volume of concentrate
3 Ontario has two nickel smelters in Sudbury which can process concentrate
3 Will be one of the lowest operating cost nickel mines in the world
We look forward to advancing Eagle’s Nest to its next stage of development. We are excited about the economic and social benefits Eagle’s Nest will bring to various stakeholders including local communities, governments, shareholders and partners.
For more information about Eagle’s Nest, please visit norontresources.com.
norontresources.com 212 King Street West, Suite 501, Toronto, Ontario, Canada M5H 1K5 \ t: 416.367.1444 \ f: 416.367.5444
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Ver. 2018-02-28
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