Noront Provides Project Update Double Eagle (cu,ni,pge) Project, James Bay Lowlands, Ontario

TORONTO, ONTARIO November 6, 2007 Noront Resources Ltd. (“Noront”)(TSX Venture: NOT) is pleased to announce further progress of the diamond drilling and geophysical program, as well as recently received assay results on its’ Eagle One occurrence within Noront’s Double Eagle Project in the McFaulds Lake Area of northeastern Ontario.

HIGHLIGHTS

  • Hole NOT-07-11 encountered two massive sulphide zones separated by weakly mineralized peridotite; first massive sulphide zone between 58.5 and 60.1 meters (1.6 meters averaged 4.82% Cu., 7.11% Ni., 2.53 g/t Pt., 14.65 g/t Pd., 0.19 g/t Au., and 14 g/t Ag.) followed by a second massive sulphide section between 74.5 and 75.8 meters (1.3 meters averaging 4.43% Cu., 7.37% Ni., 1.08g/t Pt., 18.1g/t Pd., 0.22g/t Au and 13 g/t Ag).
  • Hole NOT-07-12 intersected mineralized peridotite between 81.5 meters and 176 meters including a massive sulphide zone between 82.5 and 92 meters downhole. This 9.5 meter section averaged 1.54% Cu., 6.99% Ni., 2.61 g/t Pt., 10.07g/t Pd., 0.15g/t Au and 5.21g/t Ag. Then from 92 to 113 meters a semi-massive section of sulphides was encountered consisting of pyrrhotite, pentlandite and chalcopyrite, followed by net textured nickel and copper sulphide mineralization to 176 meters.
  • The near vertical dipping mineralized Nickel – Copper – PGM Eagle One occurrence averaging 40 to 45 meters in horizontal width is still open along strike, lies conformably near the western edge of a larger peridotite intrusive that has widened to 85 meters in horizontal width at its presently drilled south extent. Drilling continues with two machines, continuing through the freeze-up period.
  • Detailed ground geophysical programs continue, preliminary reports are being reviewed, airborne AeroTEM-2 survey is well underway by Aeroquest International Limited, overseen by Scott Hogg and Associates and to date they have flown 2,084 kilometers. Staking by Noront and its partners continues around the “Ring of Fire”.

Noront has completed 3,263 meters of diamond drilling in 19 diamond drill holes (including current holes that are underway) on the Eagle One Ni-Cu-PGE occurrence since starting the drill program in late August. The following table summarizes drill hole locations (based upon local and UTM grid coordinates) and provides details of the drilling completed thus far.

The Universal Transverse Mercator (UTM) coordinate system is a grid based method of specifying locations on the surface of the Earth. It is universally recognized but differs from the traditional method of latitude and longitude in several respects (taken from Google).

Table 1 Local Grid and UTM Co-ordinates For New Holes

Drill hole Northing (m) Local grid Easting (m) Local grid Northing UTM Easting UTM azimuth (degrees) dip (degrees) Elevation (mALS) Length (m)
NOT-07-17 1080 5180 5843562 547290 269 -60 172 143
NOT-07-18 1080 5180 5843562 547290 269 -69 172 in progress
NOT-07-19 1050 5083 5843528 547275 270 -45 172 132

Please note that the local grid collar locations are measured from the NW – SE oriented un-surveyed picket lines, whereas the UTM (Universal Transverse Mercator) co-ordinates are the GPS surveyed collar locations. The latter should be used when plotting drill holes as this co-ordinate system provides ease in relating the drilling to the geophysical and other surveys. An up to date drill collar location plan of the area will be added to the Noront website www.norontresources.com shortly, showing locations of all assay data available to date.

New drill hole data (assays received)

Hole From (m) To (m) Int. (m) Cu (%) Ni (%) Pt (g/t) Pd (g/t) Au (g/t) Ag (g/t)
NOT-07-10 84.2 99.0 14.8 0.12 0.25 0.16 0.64 0.09 0
including 84.2 93.5 9.3 0.14 0.28 0.18 0.70 0.11 0
NOT-07-11 57.4 63.5 6.1 1.56 2.27 1.03 4.88 0.11 4.3
including 58.5 60.1 1.6 4.82 7.11 2.53 14.65 0.19 14.0
followed by 71.0 80.0 9.0 0.86 1.49 0.85 3.88 0.07 2.7
including 74.5 75.8 1.3 4.43 7.37 1.08 18.10 0.22 13.0
NOT-07-12 81.5 176.0 94.5 0.62 1.38 0.74 2.63 0.12 1.9
including 81.5 113.0 31.5 1.35 3.19 1.53 5.78 0.15 4.4
followed by 113.0 176.0 63.0 0.25 0.47 0.35 1.06 0.11 0.6
high grade 82.5 92.0 9.5 1.54 6.99 2.61 10.07 0.15 5.21

Please note that the drill intercepts mentioned herein are not true widths, any reference to true width at this time in the exploration of the Eagle One MMS occurrence would be misleading. The mineralized body is irregular in shape, based upon the drilling to date and is best described below under description of mineralized body.

Hole NOT-07-10 was drilled to test for massive sulphides below NOT-07-09 (assay results previously announced October 30, 2007). This hole did not intersect any massive sulphides; it is assumed that the hole went below the main massive sulphide zone, however the hole went through 14.8 meters of peridotite containing minor sulphide between 84.2 and 99.0 meters downhole, that averaged 0.12% Cu., 0.25% Ni., 0.16 g/t Pd., 0.64g/t Pd., 0.09g/t Au. The hole was terminated in granodiorite at 119 meters.

Hole NOT-07-11 was drilled to test for massive sulphides below NOT-07-09 and above hole NOT-07-10. This hole encountered the mineralized peridotite between 57.4 and 80.0 meters downhole, that contained two sections of well mineralized massive sulphides between 58.5 and 60.1 meters (1.6 meters averaged 4.82% Cu., 7.11% Ni., 2.53 g/t Pt., 14.65 g/t Pd., 0.19 g/t Au., and 14 g/t Ag.) followed by another massive sulphide section between 74.5 and 75.8 meters (1.3 meters averaging 4.43% Cu., 7.37% Ni., 1.08g/t Pt., 18.1g/t Pd., 0.22g/t Au and 13 g/t Ag) with mineralized peridotite in-between. The hole was terminated in granodiorite at 113.8 meters.

Hole NOT-07-12 was drilled as a 40 meter southerly step-out from the mineralized zone where intersected in NOT-07-01 and NOT-07-02 along an east-west oriented drill section. This hole intersected the well mineralized peridotite between 81.5 meters and 176 meters (including massive sulphides) for a total mineralized intercept of 94.5 meters that averaged 0.62% Cu., 1.38% Ni., 0.74g/t Pt., 2.63g/t Pd., 0.12g/t Au and 1.88 g/t Ag. Within this section massive sulphides were encountered between 82.5 and 92 meters downhole, this 9.5 meter section averaged 1.54% Cu., 6.99% Ni., 2.61 g/t Pt., 10.07g/t Pd., 0.15g/t Au and 5.21g/t Ag. From 92 to 113 meters a semi-massive section of sulphides was encountered consisting of pyrrhotite, pentlandite and chalcopyrite, followed by net textured nickel and copper sulphide mineralization to 176 meters, after which very lean sulphide bearing altered peridotite host rock was encountered to 220.6 meters down hole. The hole was terminated at 239 meters in granodiorite.

New Hole Summaries (assays outstanding)

NOT-07-15 with a collar location of 50+15E, 11+20N in local grid co-ordinates and an initial dip of -60 degrees with a 102 degrees azimuth has been completed by the second drill. This hole remained in weakly mineralized to barren peridotite for its entire length of 132 meters (except for the first 8 meters of overburden and limestone).

NOT-07-17 is positioned at the same collar location as hole NOT-07-16 with an initial dip of -60 degrees to undercut the mineralization encountered in the upper hole. This hole intersected well mineralized peridotite at 98 meters and at 138 meters encountered net textured sulphides which continued to 171 meters. Between 171 and 177.5 massive sulphide mineralization was encountered, followed by altered peridotite to a depth of 178. The hole then entered granodiorite and was stopped at 191 meters total depth.

NOT-07-18 is also positioned at the same collar location as hole NOT-07-17 and NOT-07-16 undercutting the mineralization encountered in the two upper holes. The initial dip of this hole was set at -69 degrees. Between 105.2 meters and 132.5 meters the hole entered well mineralized peridotite, then it entered into a long section of net textured peridotite between 132.5 to 210m. From 210 to 230m massive sulphides were intersected before the hole encountered granodiorite.

Hole NOT-07-19 was drilled at local grid collar location 50+83E at 10+50N with an initial azimuth of 270 degrees and an initial dip of -45 degrees. Peridotite was intersected at 20.1 meters downhole, variably mineralized between 46.5 and 64.5 meters. This hole then entered weakly mineralized peridotite, between 64.5 meters and 74.2 meters downhole, then from 94.5 to 103.3 the mineralization increased getting more pervasive until around 108.9 meters downhole, intersecting a few mafic and felsic dikes. Between 108.9 and 109.3 massive sulphide was intersected, followed by altered peridotite until 110.8 when granodiorite and another mafic dike was encountered to the end of the hole at 132 meters.

Significance of Recent Drill Holes

Previously announced drill hole nos. 12, 13, 14 and 16 were completed on the formerly most southerly drill section orientated East-West along UTM line 5843562.5 meters North. Drill hole nos. 17 and 18 were completed on the same section below hole no. 16 with the deepest hole no. 18 intersecting the occurrence at a new vertical depth of 220 meters. Drill hole nos. 15 and 19, 37.5 meter step-outs south along UTM east-west section line 5843525.0 meters North, intersected mineralized periodotite at shallow elevations. Drill holes are currently underway to test both the latter sections further beneath the above holes. Thus far the Eagle One occurrence has been encountered along a strike length of 170 meters with a consistent width of 40-45 meters within a widening, southerly expanding peridotite ultrabasic intrusive.

Expanded program

Two drills are currently working through the freeze up period on the Eagle One occurrence. The last fixed wing flight serviced the camp on November 2. The camp is now being serviced by two helicopters in addition to a third helicopter that is being used in the geophysical survey. A series of fuel flights have resulted in a stockpiling of fuel and other consumables, sufficient for camp use for at least one month. Service flights are now limited to one flight per week to the nearby First Nation community of Webequie.

The new drill camp construction is nearing completion and is within walking distance to the Eagle One MMS occurrence. This will minimize the downtime due to weather and the helicopter not being able to service the drill for shift changes. Preliminary ground geophysical surveys are starting to be compiled and are currently being reviewed, focused on the Eagle One occurrence. The airborne survey contract awarded to Aeroquest International Limited using their helicopter mounted AeroTEM-2 system is well underway. To date a total of 2,084 kilometers of flying have been completed, initially focusing the survey in the vicinity of the Eagle One occurrence proceeding eastwards around the “Ring of Fire”.

On Site Quality Assurance / Quality Control Measures

The aforementioned assay and sample information, as well as geological descriptions are taken from drill logs as prepared by two site geologists for the drill program, Dr. Howard Lahti, P.Geo., of Fredericton, New Brunswick and Mike Kilbourne, geologist from Newmarket, Ontario. Billiken Management Services Inc. is providing all services on site for the Noront Double Eagle Project, from their base camp at McFaulds Lake. Billiken is a holder of Certificate of Authorization issued by the Association of Professional Geoscientists of Ontario.

All samples reported upon herein were selected, and sealed and readied for shipment to ALS Chemex Laboratory in Thunder Bay Ontario, they were assigned a “RUSH ASSAY” request. All samples were selected by either Dr. Howard Lahti, P.Geo. or Mike Kilbourne (geologist), and were cut in half by diamond core saw. Individual samples were labeled, placed and sealed in plastic sample bags. Groups of samples were then placed into durable rice bags that were secured by project security tags and then placed into plastic pails for shipping. Plastic pails were delivered via bonded carrier to ALS Chemex’s sample preparation laboratory in Thunder Bay, Ontario. All samples were then crushed and pulverized, then sample pulps were sent to ALS Chemex Laboratory in Vancouver B.C. for analysis. Remaining coarse reject portion of the samples remain in storage at the ALS Chemex storage facility in Thunder Bay as required in the event that further work is needed. In Vancouver, the samples underwent analysis using ALS Chemex assay procedure AA46 for nickel, copper and silver, and ICP24 for Au, Pt, and Pd. When samples received over-limit values they underwent further analysis using ALS Chemex assay procedure ICP27 (for gold, platinum and palladium), as well as GRA21 for gold. The reader is referred to: www.alschemex.com for details of these analytical procedures.

Independent Quality Assurance and Quality Control Protocol

Gold, platinum and palladium are assayed using fire assay on a 50 gram nominal sample weight with an ICP-AES finish. Nickel and copper are assayed using aqua regia (3-acid) digestion with either ICP-AES or AAS finish. A comprehensive QA/QC program has been implemented to monitor all assays on the Double Eagle Project. Samples are assembled in numbered batches of 77 samples, which equates to the number of client samples per furnace batch at ALS Chemex. Included in each batch of 77 samples are 4 certified reference material samples, 3 blank samples comprised of sterile drill core, and 4 field duplicate samples.

This QC program was set up for Noront by Tracy Armstrong P.Geo, of P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario. Ms. Armstrong is a qualified geologist in the Provinces of Ontario and Quebec. Assay results are being monitored on an on-going, real time basis for accuracy, contamination and precision by P&E. The current sample set will be reviewed by Ms. Armstrong once some additional batches are completed, and will be reported upon in a timely manner.

 

norontresourceNoront Provides Project Update Double Eagle (cu,ni,pge) Project, James Bay Lowlands, Ontario