Noront Resources Ltd. Update

Noront Resources Board of Directors
Noront Resources Board of Directors

THUNDER BAY – Mining – Noront Resources Ltd. (“Noront” or the “Company”) (TSX VENTURE:NOT)announces that pursuant to a loan agreement entered into between Noront and Resource Capital Funds V L.P. (“RCF”) dated February 26, 2013 (the “Loan Agreement”) that it has satisfied the payment of interest for the first quarter of 2013 by delivery of 474,941 common shares of the Company (the “Interest Shares”) at an effective price of $0.2942 per Interest Share to RCF. The Interest Shares are subject to a four month hold period, expiring on August 22, 2013.

The calculation of the number of Interest Shares issued was based on the volume weighted average trading price of the common shares of the Company during the 20 trading days prior to March 28, 2013.

After giving effect to the issuance of the Interest Shares, there will be 231,750,555 common shares of the Company issued and outstanding.