TORONTO, ONTARIO–( EMWNews – April 8, 2008) – Noront Resources Ltd. (TSX VENTURE:NOT)(“Noront”) and Bold Ventures Inc. (TSX VENTURE:BOL)(“Bold”) are pleased to announce that they have entered into an option agreement pursuant to which Bold Ventures has been granted the option to acquire a 50% legal and beneficial interest in 6 claim blocks covering a total of 3800 acres strategically located on the ‘Ring of Fire’, in the McFaulds Lake area, of Northern Ontario, approximately 30 km north of Noront’s Eagle One Nickel, Copper, PGM discovery.

Terms and Conditions of Option Agreement

In order to acquire its interest in the property, Bold is required to:

1. Make an initial payment to Noront of $120,000 or issue to Noront a total of 240,000 common shares of Bold, on both parties receiving all required approvals, including any TSX Venture Exchange approval and board of director approval of the option agreement;

2. Incur total exploration expenditures on the property of $2.1 million over a three year period (of which $600,000 must be expended in the first year);

3. Make total cash payments to Noront of $240,000 within two years of receiving the above-noted approvals of the option agreement (of which $120,000 must be paid by the first anniversary, and any portion of the total of $240,000 may be satisfied at the option of Noront, by the issuance of to Noront of up to 400,000 common shares of Bold at a deemed price of $0.50 per share).

Upon Bold earning its 50% interest in the property, Bold and Noront shall form a joint management committee to further develop the property as a joint venture, with Noront continuing to act as the operator.

The Ring of Fire – McFaulds Lake area, Ontario

In September 2007, Noront announced the discovery of Eagle One a magmatic massive sulphide occurrence. As time and drilling progressed Eagle One yielded some encouraging base metal and precious metal (platinum, palladium and gold) grades, including; 5.90% nickel, 3.10% copper, 2.87 g/t platinum and 9.78 g/t palladium over 68.3 metres (NOT-07-05) as well as 6.30% nickel, 2.80% copper, 1.90 g/t platinum and 10.20 g/t palladium over 46.2 metres (NOT-07-27). Additional drilling has encountered many more intersections in the Eagle One occurrence of similar grade mineralization. Just recently, in a press release dated February 25, 2008, Noront announced the discovery of Eagle Two, a second nickel-copper sheared massive sulphide occurrence situated 2 kilometres southwest of Eagle One.

Bold’s property is located approximately 30 kms directly north of Noront’s Eagle One discovery and covers a prospective area along the Ring of Fire. Bold’s management team is encouraged by the proximity to the Eagle One significant discovery and believes there is potential for this property to also host mineralization.

Airborne Geophysical Survey

Noront has recently advised Bold that an AEROTEM2 airborne geophysical survey on the property was completed by Aeroquest International Limited of Mississauga, Ontario. The data is currently being examined by Scott Hogg and Associates of Toronto, Ontario. The results of the survey are expected shortly and will be used to outline a future work program. Results and work plans will be released as they become available.

“We are very excited to work on another project with Richard Nemis and his team at Noront,” says Gary F. Zak, Director of Bold Ventures. “Richard and I worked extensively together beginning in September 1996 when I managed Alto Ventures Ltd. (ATV) and Alto optioned Noront’s Windfall Lake claim group. During the fall 1997 drill program, we made the Windfall Lake discovery of high-grade gold intersections and subsequently the Noront/Alto joint venture was formed. We look forward to duplicating this winning formula, ten years later on the McFaulds Lake “RING STAR” project now optioned with Noront.”

Comments in this press release have been completed under the supervision of Noront’s senior management including Neil Novak P.Geo., a director and Vice President-Exploration and John Harvey P.Eng. Executive Vice President of Noront, being Qualified Persons under Canadian Securities guidelines.

Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 125,573,082 shares issued to date.

Investors are invited to visit Noront’s IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to [email protected] where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

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.