TORONTO, ONTARIO August 16, 2007 Noront Resources Ltd. (“Noront”)(TSX Venture: NOT) announces that it has been advised by Billiken Management Services Inc. of Toronto that drilling is scheduled to commence within two weeks, on the recently optioned claims on the Company’s Double Eagle project located in James Bay Lowlands, northeastern Ontario. A drill contract has been signed with Cabo Drilling Canada Ltd. of Kirkland Lake, Ontario, who have a drill in the immediate area. (Drill currently being used on the Spider/KWG/UC Resources Ltd. program, testing McFaulds #1 and #3 volcanic hosted massive sulphide occurrences). Due to the logistics of the McFaulds Lake area, an A-Star B2 Helicopter owned and operated by Les Helicopteres Abitibi, has been hired to support the drilling operation. The project will operate out of the Billiken base camp, located on McFaulds Lake, approximately 17 kilometers to the east of the proposed drill sites. Project geologist for Billiken, and I.Q.P. for the drill program will be Dr. Howard Lahti, P.Geo., of Fredericton New Brunswick.
The Double Eagle project consists of 34 claims comprising 533 units encompassing an area of 8,528 hectares (21,320 acres) in the James Bay Lowlands in northeastern Ontario adjacent to Spider Resources / KWG joint venture where two significant volcanogenic base metal massive sulphide occurrences have been discovered.
On May 3rd 2007, (previously announced) The Company entered into an option agreement with Condor Diamond Corp. and Greenstone Exploration Company Ltd. (Condor/Greenstone) to acquire two claims consisting of 8 units adjoining the Company’s Double Eagle Project. (See Press Release dated May 17th, 2007 for terms) www.norontresources.com
The Company has budgeted $400,000 for a diamond drill program to be conducted on two separate magnetic and electromagnetic anomalies identified on the newly acquired claims. If sufficient time and funds are available at the end of the first two holes on the claims a follow-up program covering the Company’s Double Eagle claims may take place. Director of Noront, Mr. Neil Novak, P.Geo., recently visited the project area, and together with representatives of Billiken, spotted the first series of holes for this project. Mr. Novak states: “Noront has acquired an exceptional massive sulphide target, as well as a very intriguing kimberlite target in a region of Northern Ontario where both massive sulphides and kimberlites are known to exist. The claims were initially staked by Condor Diamond to cover two kimberlite targets. Airborne surveying, followed by two campaigns of ground geophysical surveying (magnetic and electromagnetic surveying, and then by detailed magnetic surveying), has further distinguished these particular anomalies as high priority drill targets. Drilling of the southernmost anomaly will test for massive sulphide style mineralization, while the northernmost anomaly is a magnetically rendered di-polar anomaly, with magnetic similarities to kimberlites found in the Kyle group of kimberlites located about 70 kilometers to the east. Drilling is scheduled to commence before the end of August and will take about 1 – 2 weeks to complete.”