Noront Resources Reports CDN$20 Million Financing Fully Subscribed

TORONTO -

/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/ Symbol: NOT:TSX-V Shares Outstanding: 154,578,457 Fully Diluted: 161,033,457

Noront Resources Ltd. (”Noront”) (TSX Venture: NOT) has been advised that its syndicate of agents, led by Wellington West Capital Markets Inc. (the “Agents”) and including Dundee Securities Corporation, Genuity Capital Markets, Clarus Securities Inc. and IBK Capital Corp. has received commitments for its previously announced CDN$20 million private placement offering of flow-through common shares (”Flow-Through Shares”).

Noront has, subject to regulatory approval, granted the Agents, an option to offer for sale, on a best efforts basis, up to an additional CDN$5 million of Flow-Through Shares at the offering price of CDN$2.80 per share.

Closing of the sale of the additional Flow-Through Shares shall take place concurrently with the closing of the sale of the Flow-Through Shares, which is anticipated to occur on or about August 26, 2009. All sales of Flow-Through Shares will be made on a private placement basis pursuant to exemptions from the prospectus requirements of applicable securities laws.

Gross proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities on the Company’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.

About Noront Resources

Noront Resources is focused on its 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. All material information on Noront may be found on the company website www.norontresources.com or on SEDAR www.sedard.com.

ON BEHALF OF THE BOARD OF DIRECTORS: “Wesley (Wes) C. 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.

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 ext 126, or visit Noront’s website at: www.norontresources.com.

Source: Noront Resources Ltd.

For further information: please contact Joanne Jobin, Vice President Corporate Communications at +1-416-367-1444 ext 126, or visit Noront’s website