DRAGOON, Ariz., July 25, 2002 (PRIMEZONE) -- Nord Resources Corporation (Pink Sheets:NRDS) announced that the United States District Court for the Southern District of Ohio, Western Division has given preliminary approval to the Settlement Agreement and Mutual Release of Claims (the "Settlement Agreement") previously filed in the action entitled Nord Resources Corporation v. National City Bank, et. al, Case No. C-01-210.
The Court also has scheduled a hearing on September 10, 2002 for the purposes of determining whether the Settlement Agreement is fair, reasonable and adequate, and whether the action should be dismissed..
Copies of the Settlement Agreement and the U.S. district Court's Order Preliminarily Approving Settlement are posted on Nord's website, at www.nordresources.com.
The action was filed by Nord on May 21, 2001, for the purpose, among others, of determining the ownership and disposition of assets held under trusts known as the "Rabbi Trusts."
Statements in this press release regarding Nord Resources Corporation and its business that are not historical facts, including any implicit suggestions regarding the results of the hearing scheduled to consider the Settlement Agreement and the dismissal of the action, are "forward-looking statements". These forward-looking statements involve risks and uncertainties and their accuracy cannot be guaranteed.