Source MARKET NEWS

Date 05/31/2010

Time 05:04:16 AM

Company Noront Resources Ltd.

TitlePrivate Placement-Brokered

CDNX Symbol: NOT

Press Release

Private Placement-Brokered --->@NEWS RELEASE

NORONT RESOURCES LTD. ("NOT")

- Private Placement-Brokered

TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect

to a Brokered Private Placement announced April 19, 2010:

Number of Shares: 7,598,200 shares

Purchase Price: $1.83 per share

Number of Placees: 118 placees

Insider / Pro Group Participation:

Insider=Y /

Name ProGroup=P / # of Shares

Wes Hanson Y 30,000

Greg Rieveley Y 30,000

Joe Hamilton Y 55,000

Keith McKay Y 8,000

Claudia Martins-LaRosa P 3,000

Richard Cohen P 10,000

Joeford Lee P 5,500

Olev Langelaar P 5,500

Windswept Investment Inc. P 25,000

John Panneton P 25,000

Robert Sellars P 14,000

Mark P. Smith P 16,000

Yasmin Kanji P 99,000

Derek Jansen P 40,000

Brent Lionel Larkan P 5,500

John Kason P 35,700

David Goodman P 82,000

Agent's Fee: An aggregate of $695,235.30 and 379,910 broker

warrants payable to Dundee Securities

Corporation, Wellington West Capital Markets

Inc., and Canaccord Genuity Corp. Each

broker warrant is exercisable into one common

share at a price of $1.83 per share for a one

year period.

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company

has issued a news release announcing the closing of the private placement

and setting out the expiry dates of the hold period(s).

TSX-X

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Capitalization Report for Noront Resources Ltd

Shares Issued: 167843776

Shares Escrow: 0

TSX Venture closing price for Noront Resources

Date: 2010/05/27

Closing Price: 1.330

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