Noront Resources announces Windfall Lake acquisition option agreement 8:00 AM ET, July 21, 2009
TORONTO, Jul 21, 2009 (Canada NewsWire via COMTEX) --
Symbol: NOT:TSX-V
Shares Outstanding: 154,578,457
Fully Diluted: 164,098,457

Noront Resources Ltd. ("Noront" or the "Company") (NOT) is pleased to announce that it has entered into a property option agreement (the "Agreement") with Eagle Hill Exploration Corporation ("Eagle Hill") pursuant to which Eagle Hill may earn up to a 100% interest, subject to a 2% net smelter royalty, in Noront's 100% owned Windfall Lake Property, located in Quebec, Canada (the "Property").

Wes Hanson, Noront's CEO stated, "Windfall Lake returned several impressive diamond drill intercepts however results from our underground development suggest that further financing and focused exploration work is necessary to determine the resource potential at Windfall Lake. Noront's management believes that at present, its funds and shareholders are better served by remaining focused on the company's Eagle One Deposit."

Terms and Conditions of Acquisition:

Under the terms of the Agreement, Eagle Hill will, subject to a financing condition and regulatory approval, be entitled to earn up to a 100% interest in the Property, in the following transactions:

1. a 10% interest upon payment of a consideration payments of
CDN$600,000 and incurring expenditures of CDN$500,000 on the
Property;
2. a further 41% interest upon incurring CDN$2,000,000 in expenditures
on the Property; and
3. a further 24% interest upon incurring CDN$2,500,000 in expenditures
on the Property and consideration payment of $400,000.

The Company will retain a 25% carried interest to the earlier of completion of a bankable feasibility study (the "BFS") or a commitment to take the property into commercial production after which the Company would be responsible for its working interest of additional expenditures.

If Eagle Hill does not complete a BFS or commit to take the project to production, then the Company will have the option to purchase back the 75% of the Property, within the applicable period from Eagle Hill.

At the time of completed BFS or the project has commenced production, the Company will have an option to either:

a. convert all of its interest for a 2% net smelter royalty ("NSR"); or
b. retain a 25% interest in the Windfall Lake Property and be
responsible for its pro rata costs to go into production and will
receive compensation for its costs to date from production after
certain expenditures are repaid.

About Noront:

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 can be found on the Company's website at www.norontresources.com or at SEDAR at www.sedar.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.

Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although Noront has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.


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

%SEDAR: 00003339E

SOURCE: Noront Resources Ltd.
Joanne Jobin, Vice President Corporate Communications at (416) 367-1444 ext 126, or
visit Noront's website at: http://www.norontresources.com.