Noront Resources Reiterates Its Support Of BHP's Offer

Noront Resources Ltd. (NOT.V) reiterated its support of BHP Western Mining Resources' offer to acquire the shares of Noront and the recommendation of the Board of Directors of Noront that shareholders tender their shares and accept the Offer.

Noront Resources is responding to the statement issued by Wyloo Metals Pty Ltd, in order to clarify several of Wyloo's misleading statements relating to the proposed acquisition of Noront by BHP Western Mining Resources International Pty Ltd.

Noront sought to provide shareholders with a superior alternative to the $0.315 per share price proposed by Wyloo, which led to the all-cash Offer by BHP at a significantly higher price per Noront share. The Offer price of C$0.55 per Noront share, which represents a premium of 129% to Noront's unaffected closing price of C$0.24 on May 21, 2021, the last trading day prior to the date that Wyloo first publicly announced its intention to make an offer for Noront, is 75% higher than the C$0.315 per share proposed by Wyloo in its announcement on May 25, 2021.

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