Noront Resources Announces Closing of Private Placement

TORONTO, ON--(Marketwired - September 08, 2015) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE: NOT) is pleased to announce that it has closed its previously announced non-brokered private placement.

The aggregate gross proceeds of the private placement were approximately $1.54 million. The Company issued 2,907,575 units ("Units") at a price of $0.33 per Unit for gross proceeds of $959,500 and 1,535,000 flow-through common shares at a price of $0.38 per flow through common share for gross proceeds of $583,300. Each Unit consists of one common share and one half of a common share purchase warrant, with each whole warrant entitling the holder to acquire one common share of Noront for a period of two years from the date of closing at a price of $0.47 per common share. The flow-through common shares, common shares and warrants comprising the Units under the private placement and any common shares issuable upon exercise of the warrants are subject to a hold period of four months plus one day, which will expire on January 5, 2016.

The Company intends to use the proceeds to further the development of its Eagle's Nest project, for exploration in the Ring of Fire and for general working capital.