Wyloo Metals announced that Noront’s shareholders have seen value eroded under the custodianship of Noront’s existing Board of Directors. Consequently, upon successful completion of the Acquisition Proposal, Wyloo Metals intends to put in place a new, Board of Directors to lead Noront to the benefit of those shareholders who choose to participate in its future, consisting of the following: Dr. Andrew Forrest AO as Chair. Dr. Forrest is Australia’s most active philanthropist and one of the most effective business leaders of his generation. Mr. Ian W. Delaney as Non-Executive Director. Mr. Delaney brings decades of experience in mining, investment banking and corporate governance to the Noront Board. He has previously served as Chairman of the Board and Chief Executive Officer of Sherritt International Corporation. Mr. Warren Gilman as Non-Executive Director. Mr. Gilman is a mining engineer with more than 30 years of experience as a deal maker in the metals and mining sector and currently serves as Chairman and CEO of Queen’s Road Capital Investment Ltd. Existing Noront Director Mr. Luca Giacovazzi will retain his position on the Board of Directors as a nominee of Wyloo Metals and Wyloo Metals will also ensure any director nomination rights of Baosteel Resources Holding (Shanghai) Co are fully respected.