TORONTO, ON--(Marketwired - September 23, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO UNITED STATES

Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE: NOT) is pleased to announce that further to its press release of September 19, 2016 it has closed its short form prospectus offering (the "Offering") and has raised gross proceeds of $7,857,780 through the issuance of the units ("Units") and flow-through units ("Flow-Through Units").

Noront raised $6,327,792 from the sale of 19,774,350 Units at a price of $0.32 per Unit, with each such Unit consisting of one common share and one common share purchase warrant, each whole warrant entitling the holder to purchase one common share at a price of $0.40 per share on or before September 23, 2019.

In addition, Noront raised $1,529,989 from the sale of 3,824,972 Flow-Through Units at a price of $0.40 per Flow-Through Unit, with each such Flow-Through Unit consisting of one flow through common share ("FT Share") and one-half of one common share purchase warrant, each whole warrant entitling the holder to purchase one common share at a price of $0.50 per share on or before September 23, 2019. The FT Shares will be "flow-through" shares pursuant to the Income Tax Act (Canada).

Secutor Capital Management Corporation (the "Agent") has acted as agent in connection with the Offering.

The Units and Flow-Through Units issued under the Offering were offered by way of a short form prospectus in the provinces of Ontario, British Columbia, Alberta, Manitoba, New Brunswick and Nova Scotia. Copies of the final short form prospectus and documents incorporated therein are available electronically under Noront's issuer profile on SEDAR at www.sedar.com.

The securities 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 absent registration or an applicable exemption from the registration requirements.

About Noront Resources
Noront Resources Ltd. is focused on development of the high-grade Eagle's Nest nickel, copper, platinum and palladium deposit and the high-grade chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.

Forward-looking information is based on reasonable assumptions that have been made by Noront as