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Franklin, Tennessee - October 21, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced Court approval for the sale of the Company's alumina refinery in Gramercy, Louisiana and bauxite mining operation in St. Ann, Jamaica. Following a competitive auction, New Day Aluminum LLC, an affiliate of DADA Holdings LLC, was selected as the winning bidder for the Company's alumina refinery and bauxite mining operation, with a purchase price of $24.4 million in the form of a secured note.

A hearing is scheduled for November 4, 2016, to approve Noranda's previously announced global settlement agreement with its secured lenders and the Unsecured Creditors Committee and a motion to dismiss Noranda's Chapter 11 cases. Subject to court approval, the global settlement agreement governs the handling of the Company's remaining obligations and assets, including certain net proceeds from the Company's asset sales. Also, as previously announced, Noranda has filed a motion to dismiss its Chapter 11 cases, since the consummation of the sale described above will result in the disposition of substantially all of the Company's assets and operations.

Additional Information
Additional information is available on the restructuring page of the Company's website, www.norandaaluminum.com/restructuring. Court filings and other information related to the court-supervised proceedings are available at a website administered by the Company's claims agent, Prime Clerk, at http://cases.primeclerk.com/noranda. The Company has also established a Restructuring Hotline at 855-410-7360 (U.S.), or 646-795-6965 (international), as well as a Customer Hotline at 855-252-2156 (U.S.), or 917-651-0441 (international).

Forward-Looking Statements
For this press release, statements that are not purely historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "plan," "intend," "will" and other similar expressions. All forward-looking statements made by Noranda reflect the Company's expectations and not guarantees of future performance and are subject to various risks, uncertainties and factors relating to Noranda's operations and business environment, and the progress of its Chapter 11 Case, all of which are difficult to predict and many of which are beyond Noranda's control, which could cause Noranda's actual results to differ materially from those matters expressed in or implied by these forward-looking statements. Such factors include, but are not limited to: those described under the "Risk Factors" section and elsewhere in Noranda's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 which is available on Noranda's website www.norandaaluminum.com and on the Securities and Exchange Commission's website at www.sec.gov; unfavorable economic, financial and business conditions; and risks and uncertainties relating to the Chapter 11 Case.

Forward-looking statements made by Noranda in this press release, or elsewhere, speak only as of the date on which the statements were made. New risks and uncertainties arise from time to time, and it is impossible for Noranda to predict these events or how they may affect it or its anticipated results. Noranda assumes no obligations to update any forward-looking statements made in this press release to reflect subsequent events or circumstances or actual outcomes.

Media Inquiries
John A. Parker
Vice President of Communication and Investor Relations
(615) 771-5734
john.parker@noralinc.com

Michael Freitag / Aaron Palash / Dan Moore
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449