Joutel to get Noront assets

A reserve takeover of Noront Resources (VSE) will take the company from the mineral exploration field to the computer sector. Under the terms of a proposed deal, Noront will transfer all its mining properties to Joutel Resour ces (TSE) for 250,000 common shares of Joutel. These properties include a 30% interest in the Olive project near Fort Frances, Ont.

Noront plans to acquire a private computer access and software company called Cybershare for 7.5 million Noront common shares which will give effective control to the insiders of Cybershare.

Letters of intent have been completed but remain subject to the approval by the boards of directors of each company.