Noranda Inc.

Noranda Inc.

March 24, 2005 16:35 ET

Noranda Announces Mailing of Issuer Bid and Take-Over Bid Circulars


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NORANDA INC.

TSX, NYSE SYMBOL: NRD

MARCH 24, 2005 - 16:35 ET

Noranda Announces Mailing of Issuer Bid and Take-Over
Bid Circulars

TORONTO, ONTARIO--(CCNMatthews - March 24, 2005) - Noranda Inc.
(TSX:NRD)(NYSE:NRD) today announced that it had mailed an issuer bid
circular to its common shareholders and a take-over bid circular to
common shareholders of Falconbridge Limited, in connection with
Noranda's previously announced issuer bid for up to 63.4 million Noranda
common shares and its offer to purchase the common shares of
Falconbridge not owned by Noranda. Falconbridge has mailed to its common
shareholders a directors' circular in response to Noranda's offer to
purchase Falconbridge shares. The issuer bid expires on April 28, 2005
and the take-over bid expires on May 5, 2005.

Where to Find Additional Information about the Transactions

This press release is neither an offer to purchase securities nor a
solicitation of an offer to sell securities. Noranda has filed the
issuer bid circular and take-over bid circular with Canadian securities
regulatory authorities and related registration statements with the
United States Securities and Exchange Commission and Falconbridge has
filed a directors' circular with respect to Noranda's offer to
Falconbridge's common shareholders.

Shareholders of Noranda and other investors are urged to read the issuer
bid circular and the related registration statement (including the offer
to exchange, letter of transmittal and related documents). Shareholders
of Falconbridge and other investors are urged to read the take-over bid
circular and the related registration statement (including the offer to
purchase, letter of transmittal and related documents) and the related
directors' circular. These documents, as well as any amendments and
supplements to them, and any other relevant documents filed or to be
filed with Canadian securities regulatory authorities or the Securities
and Exchange Commission, contain important information.

Shareholders may obtain a free copy of the issuer bid circular and
take-over bid circular, the related letters of transmittal, the
registration statements, the directors' circular, and certain other
offer documents at www.sedar.com or from the Securities and Exchange
Commission's website at www.sec.gov. In addition, these documents may be
obtained free of charge by contacting Noranda at 416-982-7111.

Noranda is a leading copper and nickel company with investments in
fully-integrated zinc and aluminum assets. The Company's primary focus
is the identification and development of world-class copper and nickel
mining deposits. It employs 16,000 people at its operations and offices
in 18 countries and is listed on The New York Stock Exchange and the
Toronto Stock Exchange (NRD). The Company's website can be found at
www.noranda.com.

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