Noront Resources Ltd. NOSOF

Better than NOThing NR

[yangzhh]

TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement (the "Agreement") dated May 3, 2007, between Noront Resources Ltd. (the "Company") and Condor Diamond Corp. and Greenstone Exploration Company Ltd. (collectively, the "Optionors"), whereby the Company has the option to earn up to a 100% interest in two claims consisting a total of eight claim units located in the Porcupine Mining Division of James Bay Lowlands in northeastern Ontario. In order to earn a 50% interest, the Company will issue the Optionors an aggregate of 175,000 common shares to the Optionors and pay all costs of completing a minimum of one diamond drill hole to test the project on or before December 31, 2007. The Company may elect to earn an additional 50% interest by issuing an additional 225,000 common shares to the Optionors on or before December 31, 2008. The claim is subject to a 1% net smelter royalty, in which the Company shall have the option to purchase by making a payment of $500,000 in cash or issuance of $500,000 worth of common shares. For further information, please refer to the Company's news release dated May 17, 2007.