http://www.marketwired.com/press-release/noront-resources-announces-private-placement-of-flow-through-shares-tsx-venture-not-2076813.htm

SOURCE: Noront Resources Ltd.

November 24, 2015 15:39 ET

Noront Resources Announces Private Placement of Flow-Through Shares

TORONTO, ON--(Marketwired - November 24, 2015) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE: NOT) today announced the closing of a private placement (the "Offering") of 4,824,218 flow-through common shares at a price of $0.50 per flow-through common share for gross proceeds of $2,412,109. The common shares are subject to a statutory hold period of four months plus one day which will expire on March 25, 2016.

The gross proceeds from the Offering will be used to continue exploration efforts in the highly prospective Ring of Fire property that Noront has assembled. The proceeds will fund Canadian Exploration Expenses ("CEE"), with the company to use best efforts to qualify such CEE as "flow-through mining expenditures".

In connection with the Offering, Secutor Capital will receive a cash finder's fee equal to 6% of the gross proceeds.

The Company will also issue 50,000 common shares at a price of $0.40 per common share in satisfaction of an advance royalty payment due on one of its properties outside of the Ring of Fire which was acquired as a result of the previously announced acquisition of the Ring of Fire chromite properties. The common shares are also subject to a statutory hold period of four months plus one day which will expire on March 26, 2016. This issuance is subject to final acceptance by the TSX Venture Exchange.