About Ring of Fire Metals

Noront Resources Ltd. engages in the development, exploration, and acquisition of properties prospective in base and precious metals, including nickel, copper, zinc, platinum group elements (PGEs), chromite, iron, titanium, vanadium, gold, and silver. The company focuses on the development of its 100% owned Eagle’s Nest deposit, a high-grade nickel, copper, platinum and palladium deposit located in the James Bay Lowlands of Ontario (the ‘Eagle’s Nest Project’), within a geological feature commonly referred to as the ‘Ring of Fire’. The company has 100% ownership of the most significant chromite resources in the Ring of Fire, including the Black Thor chromite deposit and the Blackbird chromite deposit, as well as a 100% interest in the Black Label chromite deposit and a 70% interest in the Big Daddy chromite deposit. The company has extensive copper-zinc holdings, including an 86.1% interest in the McFaulds Lake copper-zinc deposits/occurrences and a 75% interest in the Butler properties copper-zinc occurrences. As well the company has a 100% interest in two nickel-copper-platinum group metal discoveries known as ‘Eagle Two’ and ‘Blue Jay’; an iron-vanadium-titanium discovery known as ‘Thunderbird’; a shear-hosted gold occurrence called ‘Triple J’, the prospective Victory nickel property; gold exploration targets; and other diamond exploration properties. The company holds interest, mineral, and exploration rights to approximately 156,450 hectares of ground in Ontario and 3,395 hectares in New Brunswick. In New Brunswick, the company holds a 42% interest in the Burnt Hill tin-tungsten-molybdenum property. Ring of Fire Nickel Project The company’s first planned project is its 100% owned Eagle’s Nest nickel, copper, platinum, and palladium deposit. A three thousand tonne per day underground operation is planned that will produce mineral concentrates to be processed in traditional smelters or that may be suitable to leaching processes to serve the battery chemicals market. Ring of Fire Chromite Projects The company has a controlling interest in 96% of the known Chromite resources in the Ring of Fire that have NI 43-101 measured and indicated resources. The company’s chromite strategy is to initially develop its Blackbird chromite deposit, which is proximal to the Eagle’s Nest deposit. First Nation Relations The company is working with the primary First Nation communities on the Environmental Assessments on the road projects and has entered a project advancement and a memorandum of understanding with Marten Falls First Nation and Aroland First Nation, respectively. Both communities are the company’s shareholders. The company is in discussions with Webequie First Nation regarding the conclusion of a process MOU, which will define the process for negotiating a formal partnership agreement. Nikka VMS Deposit - Mcfaulds Lake Property The No.1, No.3 and No.8 sulfide lenses are volcanogenic massive sulphide (VMS) type copper-zinc deposits, which collectively comprise the newly named Nikka VMS deposit (Ojicree for Canada Goose), which is the centerpiece of a 1,043 claim property held 86.1% by the company and 13.9% by KWG Resources Inc. Other Properties Other Ring of Fire Properties Blue Jay Nickel-Copper-PGE Occurrence Blue Jay is a nickel-copper-PGE occurrence located 9.5 kilometres northeast of Eagle’s Nest and is a potential feeder zone to Black Thor. This occurrence contains low grade nickel-copper-PGEs occurring as finely disseminated pyrrhotite, chalcopyrite and pentlandite constrained within an ultramafic dike measuring on average 1,400 metres in length by 200 metres in width by 600 metres in width and plunging to the south-southwest at 65 degrees. Eagle Two Nickel Occurrence Eagle Two is a sheared nickel-copper-PGE occurrence located 2 kilometres southwest of Eagle’s Nest. Mineralization is hosted in tremolite-talc altered ultramafic rocks along the Triple-J fault within a zone measuring approximately 150m in strike x 600m in dip x 5- 20m in thickness with typical grades of between 1-2% Ni, 0.4% Cu, and minor PGEs. Black Thor Nickel-Copper-PGE Contact Zones The Black Thor Contact Zone nickel-copper-PGE occurrences are located along the western and eastern flanks of the Black Thor Intrusive Complex (BTIC), approximately 7 kilometres northeast of Eagle’s Nest. Mineralization consists of disseminated sulfides to locally thin massive sulfide accumulations along the contact of the BTIC with surrounding country rock. East Dyke Nickel-Copper-PGE Occurrence The East Dyke is an ultramafic body, which hosts anomalous to low-grade nickel-copper-PGEs 150 metres southeast of Eagle’s Nest. Blackbird PGE Reefs Low-grade PGE reefs have been identified in pyroxenite-gabbro assemblages stratigraphically above the BB2-1 chromite lens in the Blackbird intrusion. Butler East Nickel Occurrence The Butler East nickel occurrence is located 29 kilometres west of Eagle’s Nest, in the 75% owned Butler property. Mineralization consists of low-grade disseminated nickel + /- copper mineralization hosted in ferrogabbroic rocks within a sequence of maficultramafic sills intruding sulfide-bearing mafic volcanic and metasedimentary rocks of the Butler Assemblage. Butler Zinc-Copper Occurrences The Butler property hosts four known zinc-copper VMS occurrences within a 12km long belt of highly prospective felsic to intermediate volcanic rocks located in the southwestern portion of the Ring of Fire. The company acquired a 75% interest in the property from MacDonald Mines in 2016. Triple-J Gold Zone The Triple-J gold occurrence, located 1.5 kilometres southwest of Eagle’s Nest, lies within the Triple-J fault at the contact between the regional tonalite body and the Blackbird ultramafic intrusion. Due to the overturned natured of the Blackbird intrusion, the tonalite body lies in the structural hangingwall to the zone. The Triple-J fault, which strikes east-northeast and dips moderately to the northwest, appears to be a parallel structure to the more regional Webequie shear zone (WSZ) located 1 kilometre south of Triple-J. AT4 Gold Occurrence The AT4 gold occurrence lies 5.5 kilometres southwest of Eagle’s Nest, on the interpreted south side of the WSZ. The host sequence is Victory Assemblage mafic volcanic and sedimentary units, iron-formation, gabbro and felsic porphyritic rocks. Thunderbird Fault Gold Occurrence The Thunderbird fault, located 14 kilometres northeast of Eagle’s Nest, cuts the large layered Thunderbird intrusion. The fault is defined by a significant magnetic low measuring 2.7 kilometres long x 100-600 metres wide, which cross-cuts highly magnetic oxide gabbro layering of the Thunderbird intrusion. Regional Gold Targeting In 2017, the company added significantly to its stable of early stage gold targets through staking of 150 claims (equivalent to 2,119 claim cells) covering geological structures in three principle areas believed to be highly prospective for gold mineralization. Area 1 covers a significant portion of the Webequie Shear Zone (WSZ), a major shear zone, which transects and dextrally displaces the northern margin of the Butler property and which shows early signs of gold endowment in lake sediment samples. Area 2 covers a significant portion of the South Kenyan fault zone, a regional shear zone with significant displacement and attenuation of mixed sedimentary and volcanic lithologies, akin to major structural breaks observed in the Abitibi gold camp. Area 3 covers the eastern continuation of the WSZ as it sharply changes direction towards the northeast and includes the Triple-J, AT4 and Thunderbird Fault gold occurrences. Area 4, which covers the younger sedimentary basin, the Tappan geological assemblage, which is presumed to lie in unconformable contact with older volcanic units of the Attawapiskat assemblage and which displays evidence of tight folding of banded iron formation. The company has outlined a staged regional exploration program to advance all three areas for gold exploration and is actively searching for the right partner to advance these properties. Thunderbird Fe-Ti-V Occurrence Thunderbird is a potential large tonnage iron-vanadium-titanium deposit, classified as an occurrence. The zone is located 12 kilometres northeast of the Eagle’s Nest deposit. It is defined by a north-south trending magnetic high within a larger magnetic anomaly measuring 7 kilometres long by 3 kilometres wide. Kyle Kimberlite Kyle Kimberlite is a kimberlitic body that was acquired by the company in 2015 through the purchase of Cliffs Natural Resources assets in the Ring of Fire. It is located approximately 70 km east of Eagle’s Nest and is a joint venture between the company (50%) and Debut Diamonds (50%). Other Non-Ring of Fire Properties MacFadyen Kimberlites The MacFadyen Kimberlites are four kimberlitic bodies that were acquired by the company in 2015 through the purchase of Cliffs Natural Resources assets in the Ring of Fire. They are located approximately 7 km north of the De Beers Victor Diamond Mine and are a joint venture between the company (30%) and Debut Diamonds (70%). Burnt Hill, New Brunswick The Burnt Hill Tungsten properties straddle the Southwest Miramachi River some 70 km NW of Fredericton, New Brunswick. The company signed an amended option agreement with Cadillac Ventures Inc. during the year. Cadillac Ventures Inc. has a 58% earned interest in the property. Strategy The company’s strategy is to work with the both the provincial and federal governments and local First Nations to align the needs of both social and industrial infrastructure. In this regard, the company fully supports the Environmental Assessments (EA) driven by First Nation Proponents for the access roads in the region. History The company was founded in 1980. It was incorporated in 1980. The company was formerly known as White Wing Resources Inc. and changed its name to Noront Resources Ltd. in 1983.