Hi Agoracom,

Dec. 4, 2008 we were advised that the private placement of over 23million shares for proceeds of over 18 million had closed. Previously on Feb. 4, 2008, we also had an announcement that 6.5million shares were closed for proceeds of 26million. The difference then was that three days later we were informed of who the "substantial purchasers " were by way of a news release. Please see below:

TORONTO, ONTARIO--(Feb. 7, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) has closed a private placement of 6,500,000 units of Noront for aggregate gross proceeds of $26,000,000. Noront is very pleased to announce that Rosseau Asset Management; Pinetree Capital Ltd.; Robert McEwen, President, Evanachan Limited; Pierre Lassonde, Chairman, Franco-Nevada Corporation; Sprott Asset Management; and Northfield Capital Corporation purchased a substantial portion of the units in this private placement.

I am wondering why this time is different. Why is management not informing us of who the substantial purchasers are. Last time 6.5 million shares were sold and this time over 23 million. Why the secret as to who the big buyers were this time around? I would appreciate a reply from management.

Thank you.