NORONT RESOURCES RENAMED RING OF FIRE METALS AS ACTIVITY RECOMMENCES

PERTH, Australia, Sept. 27, 2022 /CNW/ - Wyloo Metals is pleased to announce Ring of Fire Metals as the new name for its Canada-based business, as activity recommences in Northern Ontario's Ring of Fire region.

Wyloo Metals CEO Luca Giacovazzi said the name and branding was chosen to reflect the unique culture of the organisation, while also paying homage to its Canadian roots and the region's history.

"We highly value the rich history associated with the Ring of Fire region, the importance of the region to Canada's critical minerals future, and all that Noront Resources had achieved before we came on board," he said.

"Although we are Australian owned, we feel strongly about building on the company's Canadian roots and growing Ring of Fire Metals to deliver jobs, business opportunities and economic development for Indigenous communities, Ontario and Canada more broadly.

"Ontario has a once-in-a-generation opportunity to become a world-leading hub for the production of the critical minerals the world needs to de-carbonize and we want to play our part in connecting the minerals in the north with the manufacturing might in the south.

"Ring of Fire Metals reflects the grit, determination, and unwavering commitment to sustainable mining, and to giving back to local communities, that will help us achieve this goal."

The new company name coincides with the resumption of activity at the Eagle's Nest project, as well as broader exploration work across the region.

"Eagle's Nest is one of the highest-grade nickel-copper-platinum-palladium deposits in the world, and we're also very excited about the potential of our other mineral opportunities across the Ring of Fire region," said Stephen Flewelling, Acting CEO, Ring of Fire Metals.

"We are currently drilling to gather detailed structural data at Eagle's Nest so we can finalize infrastructure planning for the mine's development.

"In parallel, we are refreshing the Eagle's Nest mining, metallurgical and infrastructure studies and assessing how our operations can be tied into Ontario's first battery metals plant.

"We are also conducting a diamond drill program on a number of our nickel targets, ground and airborne geophysical surveys over several of our 70 plus regional nickel targets and are collecting soil samples across other major structures.

"Moving forward, we plan to keep the site open year-round and the next milestone on the exploration front is to finalize the scope of our winter exploration campaign."

The Esker site, which is a base for project and exploration teams located adjacent to the Eagle's Nest deposit, recently re-opened after closing in September last year following the Summer 2021 exploration program.

Forty-four new site-based employees and contractors have been hired at Esker, about half of whom are from First Nation communities including Webequie, Marten Falls, Aroland, Neskantaga, Attawapiskat and others.

The site is undergoing significant upgrades including improved office and building facilities, IT infrastructure and internet access to prepare for the increased exploration effort.

"We have installed a WindCube^® lidar system at the site to analyze the possibility of using wind power in the future, which will help to reduce our carbon footprint – a key consideration as we seek to adopt sustainable practices across all of our project, exploration and site activities," said Stephen.

Wyloo Metals completed its acquisition of Noront Resources in April 2022.

Visit www.rofmetals.com for more information.

Disclaimer
Some of the statements in this press release may be forward looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Wyloo Metals and Ring of Fire Metals do not make any representations or warranties, express or implied, as to the accuracy, completeness, or updated status of such statements. Therefore, in no case whatsoever will Wyloo Metals, Ring of Fire Metals and their affiliate companies be liable to anyone for any decision made or action taken in connection with the information and/or statements in this press release or for any related damages.

About Ring of Fire Metals
Ring of Fire Metals holds the most important mineral deposits in the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario. Our Eagle's Nest project is a high-grade nickel, copper, and platinum group element (PGE) deposit. This deposit has the potential to be a catalyst for developing additional downstream processing capability in Ontario and establishing the province as a globally significant producer of battery materials. We are committed to responsibly developing critical minerals, such as nickel, copper, cobalt, chrome, platinum and palladium, that are needed to support the transition to a low-carbon future. See more at: www.rofmetals.com.

About Wyloo Metals          
Wyloo Metals is a privately-owned metals company with a focus on investing in the critical mineral supply chain. Led by a multidisciplinary team of geologists, engineers and financial professionals, Wyloo Metals manages a diverse portfolio of exploration and development projects and cornerstone interests in a number of public companies. Wyloo has a long-term investment mandate and is focused on producing commodities that support the transition to a low-carbon future. See more at: www.wyloometals.com.  

SOURCE Wyloo Metals

Media Contact: LEANNE FRANCO, M [phone], P [phone], E [email protected]