Noront Resources Ltd.
TSX VENTURE : NOT

Noront Resources Ltd.

December 21, 2006 12:06 ET

Noront Completes $15 Million Financing

TORONTO, ONTARIO--(CCNMatthews - Dec. 21, 2006) - Noront Resources Ltd. (Noront)(TSX VENTURE:NOT) is pleased to announce that it has competed a brokered financing of $15,000,000 through IBK Capital Corp. The financing consists of 10,215,000 flow through units and 19,785,000 hard dollar units. Each flow through unit consists of one common share and one-half of a share purchase warrant and the hard dollar unit consists of one common share and one share purchase warrant. Each full warrant entitles the holder to purchase one additional common share (which share shall not be a flow through share) at a price of $0.75 for a period of two years. See press release dated December 7th, 2006.

The Company has currently contracted for two diamond drills for the Company's Windfall Lake gold project Quebec. This new diamond drill program expected to start February 1st, 2007 will better delineate the high grade zones established in preparation for the development of an exploration ramp of approximately 2000 feet. Construction of this exploration ramp will commence as soon as further engineering studies and environmental permitting are completed.

This new exploration ramp is intended to outline, sample and bulk sample the gold zones known to the company at the present time and should be completed in the year 2007.

Tracy Armstrong (a qualified geologist in the Province of Quebec) of P&E Mining Consultants continues to interpret the drilling results to date.

ON BEHALF OF THE BOARD OF DIRECTORS

"R. Nemis", President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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