Noront Closes CDN $6.7 Million Offering

TORONTO, February 17, 2010 -

    Symbol: NOT:TSX-V
    Shares Outstanding: 165,415,745
    Fully Diluted: 176,732,896

Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is
pleased to announce that it has completed the
prospectus offering originally announced on January 14, 2010. Noront issued
2,436,364 common shares ("Shares") at a price of CDN $2.75 per Share to
raise gross proceeds of CDN $6.7 million (the "Offering").

Gross proceeds from the Offering will be used for general corporate and
working capital purposes and exploration and development activities related
to Noront's McFaulds Lake project.

The Shares 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

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

Wesley (Wes) Hanson

President & Chief Executive Officer

FORWARD LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation, including predictions,
projections and forecasts. Forward-looking statements include, but are not
limited to, statements that address activities, events or developments that
the Company expects or anticipates will or may occur in the future, including
such things as future business strategy, competitive strengths, goals,
expansion, growth of the Company's businesses, operations, plans and with
respect to exploration results, the timing and success of exploration
activities generally, permitting time lines, government regulation of
exploration and mining operations, environmental risks, title disputes or
claims, limitations on insurance coverage, timing and possible outcome of
any pending litigation and timing and results of future resource estimates
or future economic studies.

Often, but not always, forward-looking statements can be identified by
the use of words such as "plans", "planning", "planned", "expects" or
"looking forward", "does not expect", "continues", "scheduled", "estimates",
"forecasts", "intends", "potential", "anticipates", "does not anticipate", or
"belief", or describes a "goal", or variation of such words and phrases or
state that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved.

Forward-looking statements are based on a number of material factors and
assumptions, including, the result of drilling and exploration activities,
that contracted parties provide goods and/or services on the agreed
timeframes, that equipment necessary for exploration is available as
scheduled and does not incur unforeseen break downs, that no labour shortages
or delays are incurred, that plant and equipment function as specified, that
no unusual geological or technical problems occur, and that laboratory and
other related services are available and perform as contracted.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
prediction, projection, forecast, performance or achievements
expressed or implied by the forward-looking statements.
Such factors include, among others, the interpretation and actual
results of current exploration activities; changes
in project parameters as plans continue to be refined; future prices of
gold; possible variations in grade or recovery rates; failure of
equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or financing
or in the completion of exploration, as well as those factors disclosed
in the company's publicly filed documents. Although Noront has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described
in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.

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

For further information: please contact Joanne Jobin, Vice President
Corporate Communications at +1-(416)-367-1444, or visit Noront's website at:
www.norontresources.com.

For further information: please contact Joanne Jobin, Vice President Corporate Communications at +1-(416)-367-1444