Southampton Announces Option Agreement With Noront Resources Ltd. to Acquire 50% of 12 Claim Blocks in "Ring of Fire"

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2008) - Southampton Ventures Inc. (TSX VENTURE:SV) ("Southampton") and Noront Resources Ltd. (TSX VENTURE:NOT) ("Noront") are pleased to announce that they have entered into an option agreement pursuant to which Southampton has been granted the option to acquire a 50% legal and beneficial interest in 12 claim blocks (covering a total of 168 units or approximately 6,720 acres) in the "Ring of Fire", McFauld's Lake, Ontario, approximately 25 km. northeast of Noront's Eagle One discovery.

In order to acquire its interest in the property, Southampton is required to:

1. At Southampton's option, make a payment to Noront of $200,000 or issue to Noront an aggregate of 266,667 common shares of Southampton, on both parties receiving all required approvals, including any TSX Venture Exchange approval and Board of Directors approval of the Option Agreement;

2. Incur aggregate exploration expenditures on the property of $3,500,000 over a three year period (of which $1,000,000 must be expended in the first year);

3. Make total cash payments to Noront totaling $400,000 within two years of receiving the above noted approvals of the option agreement (of which $200,000 must be paid in the first year, and any portion of the aggregate of $400,000 may be satisfied at the option of Noront, by the issuance to Noront of up to 533,334 common shares of Southampton at a deemed price of $0.75 per share).

The transaction remains subject to required approvals on both sides including the approval of the TSX Venture Exchange and Southampton's Board of Directors.

Upon Southampton earning its 50% interest in the property, Southampton and Noront shall form a joint management committee to further develop the property as a joint venture with Noront continuing to act as the operator.

ABOUT SOUTHAMPTON

Southampton is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of nickel, molybdenum, uranium and other minerals, through its 95% ownership of the Horden Lake Copper-Nickel Deposit in Quebec, its option to earn up to a 100% interest in the Devonian shale hosted nickel-molybdenum-zinc-platinum group elements property known as the NiMo Project located in the Yukon and its Nigerien uranium concessions.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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