http://www.marketwired.com/press-release/noront-resources-announces-issuance-of-interest-shares-tsx-venture-not-2141416.htm

July 11, 2016 16:44 ET

Noront Resources Announces Issuance of Interest Shares

TORONTO, ON--(Marketwired - July 11, 2016) - Noront Resources Ltd. ("Noront") (TSX VENTURE: NOT) announces that payment of interest in the amount of $388,050 for the second quarter of 2016 pursuant to a loan agreement entered into between Noront and Resource Capital Funds V L.P. ("RCF") dated February 26, 2013 (the "Loan Agreement") has been satisfied by delivery of 1,307,308 common shares of the Company (the "Interest Shares") at an effective price of $0.2968 per Interest Share. The Interest Shares were delivered on July 11, 2016 subject to a four month hold period, expiring on November 12, 2016.

The calculation of the number of Interest Shares issued was based on the volume weighted average trading price of the common shares of the Company during the 20 trading days prior to June 30, 2016.

The Company also announces the payment of an extension fee of 2% of the principal amount of the loan as part of the second amendment agreement dated June 30, 2016 (the "Second Amendment Agreement") has been satisfied by the delivery of 1,307,308 shares of the Company (The "Extension Fee Shares") at and effective price of $0.2968 per Extension Fee Share. The Extension Fee Shares were delivered on July 11, 2016 subject to a four month hold period, expiring on November 12, 2016.

After giving effect to the issuance of the Interest Shares and the Extension Fee Shares, there are 284,294,912 common shares of the Company issued and outstanding.

About Noront Resources

Noront Resources Ltd. is focused on development of the high-grade Eagle's Nest nickel, copper, platinum and palladium deposit and the high-grade chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.