TORONTO, ONTARIO July 26, 2007 Noront Resources Ltd. (“Noront”)(TSX Venture: NOT) is pleased to provide the following activity update for the Company’s Hunters Point Gold/Uranium Project located approximately 65 km south of Belleterre, Quebec.
Noront reports it has received a detailed interpretation of its airborne magnetic and radiometric survey over the Hunters Point claims that are under option from Globex Mining Enterprises Inc. (Globex). The interpretive report of the survey written by JVX Ltd. delineated the historical, previously known uranium-gold showings as well as three other anomalous areas within the main property area.
The initial claims that are the subject of the Noront/Globex agreement comprise an area of 763 hectares covering a series of gold-uranium, uranium-silver and uranium-rare earth showings located on the Hunters Point syncline, a large basinal structure defined by among other things a uranium and gold bearing quartzite horizon which outlines the structure and has produced grab samples assaying up to 7.7% uranium oxide and up to 38 g/t gold (see Noront news release dated June 26, 2006).
The companies have since expanded the land position within the option agreement to total in excess of 24,000 hectares. The additional lands were staked to cover the interpreted extensions to the gold and uranium bearing quartzite horizon on the west, north and east sides of the basin (see Hunters Point claim sketch at www.norontresources.com).
Aurizon Mines Ltd. is another large mineral land holder in the vicinity of Noront’s Hunters Point property. Aurizon has recently (see Aurizon Mines Ltd. news release dated September 12, 2006) succeeded in outlining as many as four gold-in-till trains on their property which is located on the east side of the Noront – Globex claims. Aurizon has interpreted that the four gold dispersion trains are oriented in a northwest southeast direction. Noront is currently investigating its property areas immediately northwest of their results.
Aurizon’s till sampling results ranged up to 7.2 grams per tonne gold in heavy mineral concentrates. In total, 19% of the till samples collected were anomalous in gold with values of over 0.1 g/t gold. In a news release dated September 12, 2006, Aurizon’s principal exploration geologist stated that “gold results at Kipawa have exceeded all expectations”.
Noront has retained the services of InnovExplo Inc. of Val d’Or, Quebec to carry out an exploration program on the Hunters Point project. The current field program has commenced and is planned to consist of prospecting, geological mapping, sampling, geochemistry, linecutting and geophysics. Depending on the results of these various surveys, a diamond drill program will be undertaken to further test the mineral potential.
The technical program is multi facetted and is designed (ultimately) to determine the controls and source area of the gold and uranium mineralization. The plan to accomplish this goal includes prospecting the extensions to the known gold-uranium mineralized horizon, follow up of airborne survey results that have not been explained, investigate the area adjacent to the Aurizon till sampling to see if the source of their positive gold-in-till results occur on the Noront Globex claims and to detail the historically known showings to determine their depth potential.
Noront Resources Ltd. (Noront) has the right to earn up to a 100% interest in the mineral claims from Globex Mining Enterprises (Globex) by meeting a schedule of cash and stock payments and exploration expenditures on the claims over a four year period (see Noront news release dated June 26, 2006 for details of the option agreement). Globex will maintain a 2% Gross Metal Royalty on all production from the properties as well as on any properties acquired by Noront and Globex within 25 km. of the boundaries of the initial cells.
Quality Assurance and Quality Control (QA/QC)
The Hunters Point exploration program is supervised by David B. Graham B.Sc of R.Bruce Graham and Associates Ltd. Field work is under the supervision of Alain Carrier, M.Sc., P.Geo., and Donald Trudel, B.Sc., P.Geo., of InnovExplo Inc., a consulting firm based in Val-d’Or Quebec; they are Qualified and Independent Persons as defined under Regulation 43-101 guidelines. Hunters Point exploration is conducted under strict QA/QC protocols including mineralized standards, blanks and field duplicates. Analyses are performed by ALS-Chemex – Chimitec in Val-d’Or Quebec.