NOT Noront Resources Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Noront Resources Ltd. (TSX VENTURE:NOT) (the "Company" or "Noront") is pleased
to announce that it has entered into an agreement with Dundee Securities Ltd.,
on behalf of a syndicate including Raymond James Ltd. (the "Agents") under which
the Agents have agreed to offer for sale, on a best efforts private placement
basis, flow-through common shares (the "Flow-Through Shares") at a price of
$0.86 per Flow-Through Share for gross proceeds of approximately $3,000,000 (the
"Offering").


In addition, Noront has granted the Agents an over-allotment option (the
"Option") to sell up to an additional $1,000,000 of the Flow-Through Shares sold
pursuant to the Offering, at $0.86 per Flow-Through Share, exercisable at any
time prior to 48 hours before the Closing Date of the Offering.


In connection with the Offering, the Agents will receive a cash commission equal
to 5.0% of the gross proceeds raised under the Offering (inclusive of the
Option). The Closing Date of the Offering is scheduled on or about December 20,
2011. All securities issued will be subject to a four month hold period. The
Offering is subject to a number of conditions, including, without limitation,
receipt of all regulatory approvals.


The gross proceeds from the sale of the Flow-Through Shares will be used for
Canadian Exploration Expenses ("CEE"), with the Company to use best efforts to
qualify such CEE as "flow-through mining expenditures", to fund ongoing
exploration activities on the Company's McFauld's Lake project. Such CEE will be
renounced in favour of the subscribers of the Flow-Through Shares effective on
or before December 31, 2011.


About Noront:

Noront Resources Ltd. is focused on developing the high-grade Eagle's Nest
nickel-copper-platinum-palladium deposit, the exploration and development of the
Blackbird chromite discovery and regional exploration for additional mineral
deposits within its large, highly prospective land position in an area known as
the "Ring of Fire", an emerging multi-metals camp located in the James Bay
Lowlands of Ontario, Canada.


Wesley (Wes) Hanson, President & Chief Executive Officer

FORWARD LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation, including predictions, projections
and forecasts. Forward-looking statements include, but are not limited to,
statements that address activities, events or developments that the Company
expects or anticipates will or may occur in the future, including such things as
future business strategy, competitive strengths, goals, expansion, growth of the
Company's businesses, operations, plans and with respect to exploration results,
the timing and success of exploration activities generally, permitting time
lines, government regulation of exploration and mining operations, environmental
risks, title disputes or claims, limitations on insurance coverage, timing and
possible outcome of any pending litigation and timing and results of future
resource estimates or future economic studies.


Often, but not always, forward-looking statements can be identified by the use
of words such as "plans", "planning", "planned", "expects" or "looking forward",
"does not expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate", or "belief", or
describes a "goal", or variation of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.


Forward-looking statements are based on a number of material factors and
assumptions, including, the result of drilling and exploration activities, that
contracted parties provide goods and/or services on the agreed timeframes, that
equipment necessary for exploration is available as scheduled and does not incur
unforeseen break downs, that no labour shortages or delays are incurred, that
plant and equipment function as specified, that no unusual geological or
technical problems occur, and that laboratory and other related services are
available and perform as contracted. Forward-looking statements involve known
and unknown risks, future events, conditions, uncertainties and other factors
which may cause the actual results, performance or achievements to be materially
different from any future results, prediction, projection, forecast, performance
or achievements expressed or implied by the forward-looking statements. Such
factors include, among others, the interpretation and actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of gold; possible variations in grade or recovery rates;
failure of equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of exploration, as well as those factors disclosed in the Company's
publicly filed documents. Although Noront has attempted to identify important
factors that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.

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