HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Noront Resources Ltd. announces that it has been advised by Probe Mines Limited (Probe) of Toronto that it does not plan to proceed this year with further exploration on the Company's Double Eagle project located in James Bay Lowlands, northeastern Ontario and has returned the property to the Company, which now holds a 100% interest.

The Company further announces that it has entered into an option agreement with Condor Diamond Corp. and Greenstone Exploration Company Ltd. (Condor/Greenstone) to acquire two claims consisting of 8 units adjoining the Company's Double Eagle project on the following terms:

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