Not Dumpin on you Puppin but read the Nr again.

TORONTO, ONTARIO, Feb 07, 2008 (MARKET WIRE via COMTEX News Network) --

Noront Resources Ltd. ("Noront") (TSX VENTURE: NOT) has closed a private placement of 6,500,000 units of Noront for aggregate gross proceeds of $26,000,000. Noront is very pleased to announce that Rosseau Asset Management; Pinetree Capital Ltd.; Robert McEwen, President, Evanachan Limited; Pierre Lassonde, Chairman, Franco-Nevada Corporation; Sprott Asset Management; and Northfield Capital Corporation purchased a substantial portion of the units in this private placement.

Each unit was priced at $4.00 and consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of Noront at an exercise price of $5.00 for a period of two years from the date of issue, subject to accelerated expiry, being 30 days after the common shares of Noront have closed at or above a price of $6.00 for ten consecutive trading days on the principal exchange on which Noront's common shares are listed for trading.

1/2 of 6,500,000 equals 3,250,000 whole warrants @ $5.00/sh = $1,625,000.00 if my math is correct.

Therefore if the warrants exercised were 2,490,001 for a total of $12,450,005, that sounds pretty good to me and everyone else here.

Hope this helps!

Justduke