Noront Resources Ltd.

Noront Resources Ltd.

June 22, 2005 10:44 ET

Noront Resources Ltd.: Press Release

TORONTO, ONTARIO--(CCNMatthews - June 22, 2005) - Noront Resources Ltd. (Noront) (TSX VENTURE:NOT) advises that it is in receipt of a technical report commissioned and completed by A.C.A. Howe International Ltd. (Howe) including a preliminary estimate of the tungsten mineralization on the Company's 100% owned Burnt Hill Tungsten deposit located in New Brunswick, Canada. The purpose of the report was to provide the Company with an independent assessment of the Burnt Hill Deposit in order to encourage an interest in or an investment in the project for the purposes of increasing and developing the historically defined (pre February 1, 2001) resource estimate.

The technical report was written in a general format by E. Puritch P. Eng., Robert M. Kuehnbaum M.Sc., P.Geo. and Dr. W.D. Ewert P.Geo., the Company's independent qualified person under National Instrument 43-101 guidelines. The report for the most part conforms to the standards of National Instrument 43-101 but is not intended to be a fully NI 43-101 compliant report. In particular project data has not been fully validated and verified as required under NI 43-101 and the report, including the contained preliminary estimate of the tungsten mineralization is therefore considered to be a non-compliant 43-101 Geological Report.

Historical Mineral Resources Tungsten WO3

Burnt Hill Tungsten Mines Limited, incorporated in 1953, is reported to have shipped 50,128 lbs (22,379 kg) of concentrate averaging about 69% WO3 and about 3.5% Tin (Sn) during the period from 1953 to 1956. At this time three "ore blocks" were estimated to contain a mineable resource of 252,000 tons grading 1.63% WO3. It was also estimated that the tungsten concentrate would contain 4% recoverable Sn. It appears that only the No. 2 and No. 3 veins were used for the estimate, which was based on underground workings and drillhole data.

At the then (1956) prevailing price of US$ 100 per mtu of WO3 or US$ 5.00 per lb the value of the tungsten mineralization is reported "to be worth $75 per ton of ore."

In 1981, following the 1979 and 1980 underground and pilot plant programs, and using the results of underground sampling (100 level (adit level), 150 level and 150 old level), surface and underground diamond drilling and bulk samples from the adit decline, A.C.A. Howe International Limited estimated unclassified mineral resources at Burnt Hill, totaling 2,820,900 tons grading 0.147% WO3 (Brewster, 1981).

It should be emphasized that the reserves report by Burnt Hill Tungsten Mines Limited (1956), were based on only three mineable blocks and did not include any resources/reserves beyond the immediate mine development area. The resources reported by Brewster (1981), on the other hand, represents an unconstrained estimate based on mineralization along a strike length of 1,450 feet and over a vertical depth of 790 feet.

The following table summaries the historical resource estimates at the Burnt Hill deposit.

Table-1: Unclassified Historical Resource estimates Burnt Hill Tungsten deposit

Company Year Tonnage Grade Estimated Contained
(Tons) (%WO3) Tungsten (lbs WO3)
Burnt Hill Tungsten
Mines 1956 252,000 1.63 5,544,000
A.C.A. Howe (Brewster) 1981 2,821,000 0.147 9,123,000

It should be further noted that the above resource estimates are deemed to be historical in nature and have not been adequately verified by the company and therefore should not be relied upon.

Escalating Tungsten Price

It has become increasingly obvious the theoretical value of the tungsten mineralization at Burnt Hill will be impacted by the fact that the price of Tungsten concentrate has significantly increased over the past several months to a current spot price of approximately US$ 10 per lb of WO3.or US$220 per mtu of WO3 (06/10/05). A metric ton unit (mtu) of tungsten trioxide (WO3) is defined as containing 10 kg or 22 lbs of WO3 thus being equivalent to a grade of 1.0% WO3. An mtu of WO3 contains 7.93 kilograms of tungsten metal.

"If the current high price regime for tungsten can be maintained, and it appears from some analytical forecasts that it may be, then the underlying value of the Burnt Hill deposit will be significantly increased".

"This dramatic price increase appears to be part of a longer term rising commodity price trend that is significantly affecting the sustainable price of all metals but especially that of strategic metals such as Tungsten and Molybdenum. Accordingly the Company felt it prudent to engage Dr. W.D. Ewert P.Geo, the Company's qualified person under National Instrument 43-101 guidelines and formerly employed with Howe and now with P&E Mining Consultants Inc (P&E) to carry out some conceptual modeling of the Burnt Hill mineralization taking into account a rising price for tungsten. In an internal memo to Noront it is suggested that a reasonable potential target for tungsten mineralization at the Burnt Hill, as presently defined, would vary in the range of 1,800,000 to 2,300,000 tons at a postulated grade around 0.45% WO3 to 0.55% WO3 per ton, giving the deposit a contained tungsten content of around 19.8 to 20.7 million lbs of WO3.

It must be noted and it cannot be overemphasized that the above estimates are conceptual in nature and accordingly there is no assurance that any of the mineralization can be economically recovered nor is there any guarantee that any value will ever be realized in whole or in part."

Resource Confirmation Drilling

The Howe report contains a recommendation for 4,510 m of in-fill confirmation and exploration drilling within the confines of the No 2 vein system. Noront is aggressively pursuing various options with regard to the recommended in-fill drilling program and hopes to proceed this summer with an exploration drilling program at an estimated cost of $725,000. This diamond drill program if successful, would provide confirmation of the existing mineralization on the number 2 vein system and as calculated by P & E has the potential to effectively double the existing tonnage.

"As pointed out in the Howe report this drilling does not address the potential for deeper down-dip mineralization on the No 2 vein system nor does it investigate the mineralization in any of the other eight tungsten-bearing vein systems known to exist on the property. Further exploration drilling would be required to investigate the potential of the other mineralized vein zones and to delineate additional tonnage at depth, especially with respect to the No 2 vein. It is possible that the tenor of the mineralization will increase at depth as the margin of the underlying intrusion is approached. It is expected that the grade of accessory metals such as tin, molybdenum and bismuth could increase with depth."

Noront is a Tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 46,341,741 shares issued to date.

A full text of the Howe report can be reviewed on the Company's web site


"R. Nemis"

Richard 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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