Baosteel Resources to Acquire 9.9% Interest in Noront

May. 2, 2011

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Toronto, Ontario, May 2, 2011. Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) is pleased to announce that it has agreed on definitive terms in connection with a proposed offering (“the Offering”) with Baosteel Resources International Co., Ltd. (“Baosteel”), part of The Baosteel Group, one of China’s largest steel producers, for a strategic investment by Baosteel in Noront by way of a non-brokered private placement of Units.

Under the terms of the Offering, Noront will issue such number of shares as is equal to 9.9% of the total issued and outstanding common shares of Noront at the time of closing at a price of $0.86 per Unit. Each Unit consists of one common share and one half of one common share purchase warrant (each whole warrant a “Warrant”). Each Warrant shall be exercisable to acquire one common share of Noront at an exercise price equal to $1.16 for a period of 24 months following the closing date. Net proceeds of the common share portion are anticipated to be approximately C$ 17.4 million. Exercise of the Warrants would increase Baosteel’s equity ownership interest in Noront to 14.15%, with aggregate proceeds to Noront of approximately C$11.7 million.

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Baosteel Resources Completes Strategic Investment With Noront

Jun. 2, 2011

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FOR IMMEDIATE RELEASE: JUNE 2, 2011

BAOSTEEL RESOURCES COMPLETES STRATEGIC INVESTMENT WITH NORONT

Toronto, Ontario, June 2, 2011. Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT)is pleased to announce the closing of the previously announced strategic investment by Baosteel Resources International Co., Ltd. (“Baosteel”), part of The Baosteel Group, one of China’s largest steel producers. Baosteel has acquired 20,234,967 Units of Noront at a price of $0.86 per Unit. Each Unit consists of one common share and one half of one common share purchase warrant (each whole warrant a “Warrant”). Each Warrant shall be exercisable to acquire one common share of Noront at an exercise price equal to C$1.16 for a period of 24 months following the closing date. Net proceeds of the common share portion are approximately C$17.4 million and Baosteel’s ownership interest in Noront post transaction will be 9.9%. Exercise of the Warrants would increase Baosteel’s equity ownership interest in Noront to 14.15%, with additional aggregate proceeds to Noront of approximately C$11.7 million.