Noront Resources Announces Up to $15 Million Equity Financing

TORONTO, ONTARIO--(Marketwire - April 19, 2010) -

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Noront Resources Ltd. ("Noront", the "Company") (TSX VENTURE:NOT) is pleased to announce that it has entered into an agreement with Dundee Securities Corporation on behalf of itself and a syndicate of agents including Wellington West Capital Markets Inc. and Genuity Capital Markets (the "Agents") under which they have agreed to offer for sale, on a best efforts basis, flow-through common shares of Noront ("Flow-Through Shares") at a price of $1.83 per Flow-Through Share for aggregate gross proceeds of up to $15 million. All sales of Flow-Through Shares will be made on a private placement basis pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.

Wes Hanson, President and CEO stated, "Completion of this financing will give Noront the opportunity to continue exploring for nickel, copper, platinum and palladium using flow through dollars, while conserving hard dollars for other purposes including engineering studies aimed at reducing project risk. We expect that the flow through dollars raised in connection with this financing will be sufficient to allow us to complete our 2010 exploration program, which is focused on resource expansion at Eagle's Nest combined with exploration at AT-12 and other promising geophysical targets within our Ring of Fire landholdings."

In addition, Noront has granted the Agents an over-allotment option to sell an additional 15% of the Flow-Through Shares sold pursuant to the offering, at the issue price, exercisable at any time prior to 1 day before the Closing Date of the offering.

The gross proceeds from the sale of the Flow-Through Shares will be used for Canadian Exploration Expenses ("CEE"), with the Company to use best efforts to qualify such CEE as "flow-through mining expenditures", to fund ongoing exploration activities on the Company's McFauld's Lake project. Such CEE will be renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2010.

Closing is anticipated to occur on or about May 12, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Agents will be entitled to a cash commission equal to 5% of the gross proceeds of the offering, inclusive of the over-allotment option. Noront has also agreed to issue broker warrants to the Agents equal to 5% of the number of Flow-Through Shares sold under the offering, inclusive of the over-allotment option. Each broker warrant is exercisable to acquire one common share of the Company at the issue price for a period of 12 months following the Closing Date.

All securities issued pursuant to the offering will be subject to a four month hold period under Canadian securities laws.

About Noront Resources

Noront Resources Ltd. is focused on its significant and multiple, high-grade nickel-copper-platinum-palladium, chromite, gold 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 2010. All material information on Noront can be found on the Company's website at www.norontresources.com or at SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS:

Wesley (Wes) C. Hanson, President & Chief Executive Officer