Rhodium is rising in price again. Pd is doing fine too.

Noront provides Eagle's Nest, Triple J assay results, exploration update at McFaulds Lake, James Bay Lowlands

    Symbol:               NOT:TSX-V
    Shares Outstanding:   167,885,442
    Fully Diluted:        179,169,260

TORONTO, May 12 /CNW/ - Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to report assay results from the full platinum group element analysis of hole NOT-09-070-W1 drilled last fall at Eagle's Nest as well as analytical results from the focused sampling campaigns on the Triple J gold zone and an update on the Company's Exploration Program. Highlights include:

    Eagle's Nest Highlights: NOT-09-070-W1
    --------------------------------------
    -   22.8 metres averaging 28.1 gpt Pt, 8.0 gpt Pd, 0.60 gpt Rh, 0.12 gpt
        Ir, 0.10 gpt Os, 0.29 gpt Ru and 0.11 gpt Re;
        -  including; sample 432113 (0.5 metres) returned 312 gpt Pt, 11.5
           gpt Pd, 2.19 gpt Rh, 0.25 gpt Ir, 0.54 gpt Os, 0.85 gpt Ru and
           0.16 gpt Re; and
        -  sample 432116 (0.15 metres) returned 943 gpt Pt, 11.3 gpt Pd, 3.13
           gpt Rh, 0.24 gpt Ir, 1.05 gpt Os, 0.43 gpt Ru and 0.11 gpt Re

    Triple J Highlights:
    --------------------
    -   NOT-08-1G013 sample 458843 intersected 1.5 metres averaging 18.3 gpt
    -   NOT-09-1G138 sample 530242 intersected 1.0 metre averaging 2.07 gpt
    -   NOT-08-1G039 sample 594372 intersected 1.0 metres averaging 1.92 gpt

    Exploration Highlights:
    -----------------------
    -   Six drills operating (five at Eagle's Nest, one at AT-12);
    -   Both deep drills are operating at Eagle's Nest

    Eagle's Nest:
    -------------

Noront has received results from the follow up sampling of hole NOT-09-070-W1 which intersected extremely high grade platinum and palladium last fall. Noront requested that the entire sample interval be assayed for the full suite of platinum group elements including rhodium, iridium, osmium, ruthenium and rhenium.

Results indicate that anomalous rhodium (Rh), iridium (Ir), osmium (Os), Ruthenium (Ru) and rhenium (Re) are present in the Eagle's Nest deposit. At this stage it appears that the high grade platinum and associated platinum group elements are coincident with and likely controlled by an extensive structure which is steeply dipping and intersects the Eagle's Nest deposit. Future infill drilling at Eagle's Nest will specifically target other portions of this structure within the deposit.

Jeremy Niemi, Noront's Vice President Geology notes; "Taking the time to take a closer look and utilize powerful tools to work with our data continues to demonstrate great value. We now have a much better understanding of the controls on the mineralization in the vicinity of Eagle's Nest and we will use this to our advantage in the current drilling campaign. Drilling is well underway at Eagle's Nest and at AT12, in the very near future we expect to drill our highest priority regional targets focusing on finding potential, additional nickel copper PGE mineralization. Many of these are proximal to Eagle's Nest."