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

TORONTO, ONTARIO October 30, 2007 Noront Resources Ltd. (“Noront”)(TSX Venture: NOT) is pleased to announce progress of the diamond drilling and geophysical program, as well as recently received assay results on its’ Double Eagle project located in James Bay Lowlands, northeastern Ontario.

HIGHLIGHTS

  • Hole NOT-07-07 undercut hole NOT-07-05 intersected the main mineralized zone starting at 72 meters core length and remained in it until 123.5 meters, for a total of 51.5 meters which included massive sulphide mineralization between 75.2 and 89.5 meters (14.3 meters) core length that averaged 2.5% Cu, 6.3 % Ni, 5.92 g/t Pt, 16.21 g/t Pd, 0.24 g/t Au and 8.3 g/t Ag.
  • Hole NOT-07-09 intersected the mineralized zone at 43 meters core length and remained in it until 88.6 meters for a total intersection of 45.6 meters. This mineralized zone included two massive sulphide sections totaling 22 meters. Assays for the 17.4 meter upper massive sulphide section averaged 3.87 % Cu, 4.82 % Ni, 1.02 g/t Pt, 14.78 g/t Pd, 0.27 g/t Au and 11.3 g/t Ag, while the lower 4.6 meter massive sulphide section averaged 2.01 % Cu, 8.3 % Ni, 0.14 g/t Pt, 0.23 g/t, 11.53 g/t Pd, Au and 5.1 g/t Ag;
  • 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.
  • Noront increases land position to 41,632 hectares (416.32 square kilometers) in 173 mining claims, and staking continues around the “Ring of Fire”.
  • Detailed ground geophysical program continues, airborne AeroTEM-2 survey underway by Aeroquest International Limited, overseen by Scott Hogg and Associates, survey started on October 15th and to date they have flown 1,102 kilometers.

Noront has completed 2,676 meters of diamond drilling in 15 diamond drill holes (not 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 grid) and provides details of the drilling completed thus far.

Table 1 Corrected Local Grid Co-ordinates

Hole Number Northing Local Grid (m) Easting Local Grid (m) Northing UTM Easting UTM azimuth (degrees) dip (degrees) Elevation (m ASL) Length (m)
NOT-07-1 1210 5100 5843646 547202 135 -45 172 140
NOT-07-2 1210 5100 5843646 547202 135 -65 172 191
NOT-07-3 1221 5200 5843741 547251 135 -45 172 179
NOT-07-4 1185 5000 5843578 547130 135 -45 172 133
NOT-07-5 1162 5150 5843654 547265 0 -90 172 143.4
NOT-07-6 1025 5290 5843644 547441 270 -45 172 389
NOT-07-7 1218 5103 5843653 547198 96 -45 172 149
NOT-07-8 1218 5103 5843653 547200 96 -70 172 171
NOT-07-9 1204 5147 5843683 547233 97 -45 172 99
NOT-07-10 1204 5147 5843683 547233 97 -71 172 123
NOT-07-11 1204 5147 5843683 547233 97 -59 172 113.8
NOT-07-12 1188 5002 5843580 547129 104 -50 172 239
NOT-07-13 1188 5002 5843580 547129 104 -68 172 254
NOT-07-14 1170 5012 5843576 547150 104 -45 172 197
NOT-07-15 1120 5015 5843536 547191 102 -60 172 underway
NOT-07-16 1080 5108 5843562 547290 269 -45 172 155
NOT-07-17 1080 5108 5843562 547290 269 -60 172 143 (cont.)

Please note that the local grid collar locations are measured from the NW – SE oriented un-surveyed picket lines, whereas the UTM Grid co-ordinates are the GPS surveyed collar locations. The latter should be used when plotting drillholes. An up to date drill collar location plan of the area will be added to the Noront website www.norontresources.com within the next few days, along with a preliminary 3D Gemcom model of this MMS occurrence.

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-07-07 72 123.5 51.5 1.5 3.7 2.28 7.51 0.82 5.2
including 72 75.2 3.2 1.25 0.61 0.68 2.58 0.07 4.1
and 75.2 89.5 14.3 2.47 6.27 5.92 16.21 0.24 8.3
incl. high grade 75.2 78 2.8 3.02 8.46 22.15 22.42 0.17 10.1
and 89.5 103.8 14.3 2.42 6.31 0.4 8.71 2.63 8
and 103.8 123.5 19.7 0.17 0.45 1.29 1.15 0.06 1.11
NOT-07-08 129 136.9 7.9 0.13 0.31 0.13 0.57 0.38 1.3
NOT-07-09 43 88.6 45.6 1.82 2.89 0.6 7.16 0.15 5
including 43 45.8 2.8 0.01 0.06 0.04 0.09 0.01 0
and 45.8 63.2 17.4 3.87 4.82 1.06 14.78 0.27 11.3
and 63.2 65.3 2.1 0.28 0.06 0.3 0.14 0.07 0
and 65.3 69.9 4.6 2.01 8.3 0.14 11.53 0.23 5.1
and 69.9 88.6 18.7 0.31 0.51 0.34 0.84 0.06 0.5

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.

Assays from hole NOT-07-07 have recently been received. As stated in an earlier press release (October 9) this hole was positioned at the same collar location as holes NOT-07-01 and NOT-07-02 (7 meters away to allow for drill setup), however the azimuth was set at 096 degrees, to undercut Hole NOT-07-05 from the west that was drilled vertically. The initial dip of this hole was set at -45 degrees. The hole entered the peridotite bearing sulphide unit at 72 meters core length, then hit the massive sulphide zone at 75.2 meters, remaining in massive sulphides until 89.5 meters. It then entered a mixed zone of net-textured massive sulphides from 89.5 to 103.8 meters downhole, and remained in mineralized peridotite until 123.5 meter core length for a total mineralized drill intercept of 51.5 meters.

Assays from hole NOT-07-08 have also been received. This hole was positioned at the same collar location as hole #7 and drilled in the same direction 096 degrees azimuth, however the dip of the hole was steepened to -70 degrees. This hole entered the peridotite at 128.8 meters and had only a short section of mineralized peridotite containing sulphides between 131.5 and 136.9 meters. The hole then entered the granodiorite and was stopped at 171 meters.

Complete assays for hole NOT-07-09 have been received. Hole NOT-07-09 was designed to determine the northerly strike and up plunge potential of the mineralized zone, drilled along an east-west oriented drill section 25 meters to the north of NOT-07-05. This hole was drilled from the northwest (for local grid co- ordinates and collar information refer to Table 1). The hole entered peridotite at 43 meters core length and then entered massive sulphides at 45.8 and remained in massive sulphide mineralization until 63.2 meters core length. After a short section of peridotite, the hole re-entered massive sulphides at 65.3 meters core length and then re-entered the peridotite at 69.9 meters. This section of peridotite was well mineralized with net textured sulphides until 88.6 meters core length when granodiorite was encountered. The hole was terminated at 99 meters in granodiorite.

Hole Summaries (assays outstanding)

Hole NOT-07-10 was drilled to test for massive sulphides below NOT-07-09. 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 12.1 meters of peridotite containing minor sulphide between 86.9 and 99 meters downhole. 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 peridotite between 52.3 and 93.4 meters downhole, that contained two sections of well mineralized massive sulphides between 58.5 and 60.1 meters (1.6 meters) followed by another massive sulphide section between 74.4 and 75.8 meters (1.4 meters) with mineralized peridotite inbetween. The hole was terminated in granodiorite at 113.8 meters.

Hole NOT-07-12 was drilled as a 40 meter southerly step out on section in the plane of the mineralized zone as defined by the pierce points of holes NOT-07-07 and, 01 and 02 along an east-west oriented drill section. This hole intersected the peridotite at 82.5 meters and then intersected massive sulphides between 83.6 and 92 meters downhole. 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 182 meters, after which lean sulphide bearing altered peridotite host rock was encountered to 220.6 meters down hole. The hole was terminated at 239 meters in granodiorite.

NOT-07-13, drilled with an azimuth of 104 degrees at -68 degrees initial dip, from the same collar location as NOT-07-12. This hole was designed to undercut the mineralized zone at depth below hole 12. The hole was drilled to a depth of 254m and encountered granodiorite through it’s entire length, and had steepened to – 72 degrees at the end.

NOT-07-14 was positioned 20m east of hole NOT-07-12 and 13 with an initial easterly azimuth of 104 degrees with an initial dip set at -45 degrees to overcut hole #12. After 46m of granodiorite, NOT-07-14 intercepted peridotite with weak sulphide mineralization from 46 to 53 meters. From 53 meters to 56.4 meters, massive sulphides were intersected. From 56.4 to 80 meters, net-textured peridotite with strong sulphide mineralization was encountered. To 103m, moderately mineralized peridotite consisting of disseminated sulphides was intersected. Weakly mineralized peridotite was then intersected until 188m. The hole ended in granodiorite at 197m.

The second drill, set up approximately 30 meters south of the NOT-07-14 drill section on hole 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 is underway, but has yet to complete any advance due to faulty equipment.

NOT-07-16 was positioned with local grid coordinates of 51+08E, 10+80N and drilled west at 269 degrees azimuth to explore the wide extent of the peridotite over the hole NOT-07-14 mineralized zone closer to surface. NOT-07-16 was drilled at -45 degrees. This hole encountered altered peridotite from 4.5 until 93 meters with trace mineralization. From 93 to 121 meters, peridotite with disseminated sulphides was encountered. From 121 to 133 meters, net-textured peridotite with strong sulphide mineralization was intersected. From 133 to 133.6 meters, massive sulphides were encountered. After this point, a mafic dyke mixed with granodiorite was encountered to the end at 155 meters.

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 mineralized peridotite at 98 meters and at 138 meters encountered net textured sulphides which continues to at least 143 meters where the drill hole advance is temporarily halted due to a mechanical breakdown.

Description of mineralized body

To date, the north-south striking peridotite intrusive body hosting the Eagle One occurrence has varied in horizontal width from approximately 40 meters at the north end (in drill holes NOT-07-9, 10, 11) to 85 meters at the most southerly drilled section of holes (in holes NOT-07-12, 14, 16, 17) for a horizontal drilled length of 130 meters and still open to the south. The mineralized Peridotite including basal massive sulphides on the west side, are overlain by net-textured sulphides which in turn are overlain by lower sulphide mineralization to the east; all carry significant Nickel-Copper-PGM values in the five holes assayed to date with another five holes in which assays are pending. The Eagle One mineralized Nickel-Copper zone (an MMS type deposit) varies in horizontal width from approx. 40 meters at the north end to 45 meters at the south end and remains open at both ends. Maximum vertical extent of the mineralized zone thus far from the bottom of the shallow overburden and younger limestone capping is approximately 130 meters outlined by drilling to date.

Property Expansion Status

In light of this exciting Nickel – Copper and PGE discovery, with high economic potential, Noront continues with an aggressive exploration and staking campaign and have dubbed the area the “Ring of Fire”. Prior to Noront’s initial discovery of the “Eagle One Ni-Cu-PGE occurrence”, Noront held 32 individual claims totaling 491 units (7,856 hectares). Since the discovery on August 25, 2007, Noront has recorded an additional 141 claims totaling 2111 units (33,776 hectares). Presently, Noront has amassed an area within the “Ring of Fire” of 173 mining claims totaling 2,602units (41,632 hectares) or 416.32 square kilometers.

Expanded program

The second diamond drill arrived at the project site on the 23rd of October and was moved to the first drill site to test for the southerly extension of the Eagle One Magmatic Massive Sulphide (MMS) occurrence. Unfortunately this drill arrived in a bad state of repair and encountered difficulty during startup. Mechanics from Cabo Drilling arrived on October 27 to commence repairs in the field. In addition to the stepped up drilling program that will go through the freeze-up period with both drills a new drill camp is being built within walking distance to the Eagle One MMS occurrence that will minimize the downtime due to weather and the helicopter not being able to service the drill for shift changes. ( a number of shifts have been lost due to inclement weather). In addition to the intense ground geophysical program already referred to in earlier press releases, an airborne survey contract was awarded to Aeroquest International Limited using their helicopter mounted AeroTEM-2 system. To date a total of 1,102 kilometers of flying have been completed. They initially focused the survey in the vicinity of the Eagle One occurrence and then proceeded to work around the Ring of Fire towards the east to complete as much survey work as possible (weather permitting) covering the newly acquired claims held by the Company.

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 will be monitored on an on-going, real time basis for accuracy, contamination and precision by P&E.

Independent QA/QC report received October 29, 2007

Tracy Armstrong, P.Geo. of P&E reports “The QC results have been examined for the most recent batch of sample results received from ALS Chemex. Results for the blanks inserted into the sample batch are all acceptable, precision on the duplicates is not as good as the first report, but the values for these recent samples are generally higher, so this is not too surprising. With respect to the insertion of standards into the sample batch, the No. 1 standard results are all within the warning limits for Au, Pt, and Pd and are acceptable (this standard was not certified for copper and nickel). The No. 2 standard is also within warning limits for Au, Cu, Ni, and Pd, however Pt has two out of four data points on the tolerance limit line, with one point failing, and one point within the warning limits. As of yet, with only 4 data points, it is not too concerning, but this will need to be followed closely.” Billiken will advise ALS Chemex of this concern so that the issue can be addressed immediately.

Richard Nemis Goes ”Beyond the Press Release”

Please join President and CEO, Richard Nemis as he goes ”Beyond the Press Release” to provide shareholders with a video address that further discusses the results described within this press release. The address will be available on the Noront Resources Investor Relations Hub at www.agoracom.com/ir/Noront on Tuesday, October 30, 2007 at 5pm Eastern Time.

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