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TORONTO, ONTARIO - (June 6, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) is pleased to report that it is continuing with its drilling and other exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands and has also been furthering its corporate development objectives. Accordingly, Noront wishes to present the following report on its corporate activities.

CORPORATE UPDATE

Further to its appointment of JPMorgan Securities Inc. and IBK Capital Corp. as its financial advisors last year, Noront is continuing to identify companies who may be interested in becoming a strategic partner with Noront to assist it in developing its Double Eagle project. Noront is currently in preliminary discussions with a number of such candidates. There can be no assurance that such discussions will continue or will result in the successful conclusion of a transaction involving Noront and any other person.

Noront has also been assigned by WSR Gold Inc. ("WSR"), the option to earn a 35% interest in the property located in the James Bay lowlands (the "Golden Valley Property") owned by Golden Valley Mines Ltd. ("Golden Valley"). WSR has entered into a letter of intent with Golden Valley whereby it has the option to earn a 70% interest in the Golden Valley Property (the "Option"), and Noront can earn half of WSR's interest in the Golden Valley Property as further described below.

In order to acquire its 35% interests in the Property, Noront will be required to make payments to Golden Valley totaling $175,000 (or $350,000 in the aggregate with the payments from WSR), payable in cash and/or by the issuance of common shares of WSR (and Noront) upon the later of the execution of a definitive option agreement, or the receipt of approval from the TSX Venture Exchange. The number of shares, if any, to be issued by Noront (and WSR) as consideration for the Option will be equal to the dollar amount of the total consideration that Golden Valley elects to receive in shares divided by the ten day volume weighted average price of such shares for the ten trading day period immediately preceding the date on which a press release is issued announcing a definitive option agreement amongst WSR, Noront and Golden Valley. In addition to these payments, WSR and Noront will also be required to incur aggregate exploration expenditures on the Property of at least $5,000,000 over a three year period (of which $1,000,000 must be expended in the first year).

Upon WSR and Noront earning their collective 70% interest in the Property, WSR, Noront and Golden Valley shall enter into a joint venture agreement. The Joint Venture Agreement will require WSR and Noront to fund all project costs up to the start of commercial production from the Property. Following the commencement of commercial production, any cash flow after payment of operating expenses and third party financing costs will be distributed to Noront and WSR until such time as the aggregate of their project costs, including interest, up to the commencement of commercial production have been repaid, following which such cash flow shall be distributed to the parties on a pro rata basis.

The transaction remains subject to the approval of the TSX Venture Exchange and execution of the definitive option agreement.

In order to continue the development of Noront's assets and strategically enhance the value of the company to shareholders, the Board of Directors as well as Management of Noront has, over recent months, shouldered increasing responsibilities commensurate with the growth of the company. As such, the board of directors of Noront has been working to identify persons who could add their talents to the board of directors. In that regard, Noront is pleased to welcome Mr. Paul Parisotto as an independent member of the Board of Directors.