Noront Resources Ltd. (TSXV:NOT) entered into a definitive agreement to acquire 75% stake in properties in the Ring of Fire district from MacDonald Mines Exploration Ltd. (TSXV:BMK) for CAD 0.75 million on August 5, 2016. The acquired properties comprise of Sanderson property and Butler property. Noront Resources will issue shares as consideration.

Noront Resources issued 2.3 million common shares to MacDonald. The acquisition is subject to the approval of the TSX Venture Exchange.