Noront Resources Closes $25 Million Financing

This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

TORONTO, ONTARIO August 26, 2009, Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) is pleased to announce the completion of the private placement financing originally announced on August 6, 2009. Noront issued 8,928,500 flow-through common shares (“Flow-Through Shares”) at a price of $2.80 per Flow-Through Share to raise gross proceeds of $24,999,800 (the “Offering”).

Wellington West Capital Markets Inc. (“WWCM”) acted as book-runner and lead agent on behalf of a syndicate of agents including Dundee Securities Corporation, Genuity Capital Markets, Clarus Securities Inc. and IBK Capital Corp. (together with WWCM, the “Agents”). Noront paid a cash fee to the Agents equal to 5% of the gross proceeds of the Offering.

The Flow-Through Shares issued pursuant to the Offering are subject to a statutory hold period which expires on December 27, 2009.

Gross proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities on Noront’s McFauld’s Lake project. These activities will be eligible for Canadian exploration expenses and renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2009.

The securities being offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to purchase securities in the United States. The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

About Noront Resources
Noront Resources is focused on its McFauld’s Lake Project, which include significant and multiple, high-grade nickel-copper-platinum-palladium, chromite and vanadium discoveries in an area known as the “Ring of Fire”, an emerging multi-metals district located in the James Bay Lowlands of Ontario, Canada. Noront is the dominant land holder at the Ring of Fire and continues to delineate and prove up its discoveries with NI 43-101 technical and economic reports and an aggressive and well financed drill plan for 2009 and 2010. All material information on Noront may be found on the company website or on SEDAR

For further information please contact Joanne Jobin, Vice President Corporate Communications at (416) 367¬1444 ext 126, or visit Noront’s website at:




norontresourceNoront Resources Closes $25 Million Financing