Noranda Income Fund and BaseCore Metals Announce Closing of Stream Agreement

TORONTO, July 30, 2020 (GLOBE NEWSWIRE) -- Noranda Income Fund (TSX:NIF.UN) (the “Fund”) and BaseCore Metals LP (“BaseCore”) announce the closing of its stream agreement in respect to reference zinc processed and refined at the Fund’s electrolytic zinc processing facility (the “Stream”) located in Salaberry-de-Valleyfield, Quebec (the “Processing Facility”).

For more information regarding the Stream agreement, please consult the press release issued July 27, 2020.

BaseCore Metals LP, an independent 50/50 joint venture between Glencore Canada Corporation and Ontario Teachers’ Pension Plan Board, is a leading base metals focused streaming and royalty company. BaseCore Metals provides strategic, long-term and friendly financing to mining operators giving them superior access to capital for funding of exploration and development, mine expansions, mergers and acquisitions, balance sheet flexibility and reclamation obligations. Further information about BaseCore Metals can be found at: www.basecoremetals.com.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol “NIF.UN”. Noranda Income Fund owns the electrolytic zinc processing facility and ancillary assets (the “Processing Facility”) located in Salaberry-de-Valleyfield, Québec. The Processing Facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of zinc customers are located. It produces refined zinc metal and various by-products from sourced zinc concentrates. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited, a wholly-owned subsidiary of Glencore Canada Corporation. Further information about Noranda Income Fund can be found at: www.norandaincomefund.com.

For further information, please contact:

BaseCore:
Akshay Dubey
Director, Business Development of BaseCore
Tel: 416-775-1699
[email protected]

Noranda Income Fund:
Paul Einarson
Chief Financial Officer of Canadian Electrolytic Zinc Limited, Noranda Income Fund’s Manager
Tel: 514-745-9380
[email protected]