Northern Gold Acquires Additional Property in Garrison, Holloway and Michaud Townships
Published : April 16, 2013
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Keywords :   Equity Markets | Gold | Gold Mines | Market | Silver |

TORONTO, ONTARIO--(Marketwired - April 16, 2013) - NORTHERN GOLD MINING INC. (News - Market indicators) ("Northern Gold" or the "Company") is pleased to announce that it has entered into four mining claim acquisition agreements pursuant to which Northern Gold has acquired a 100% interest in two claims located each of the Garrcon East zone in Garrison Township, Ontario (the "Garrison Claims"), one mining claim in Holloway Township located approximately five kilometres north of the Company's Harker-Holloway Property (the "Holloway Claim") and five mining claims located in Michaud Township (the "Michaud Claims") and contiguous to the north-west of Northern Gold's existing Michaud claims. The acquisition of the Garrison Claims, the Holloway Claim and the Michaud Claims increases Northern Gold's expanding land package to a total of approximately 54,222 acres in the Larder Lake Mining District.

Pursuant to the terms of a mining claim acquisition agreement Northern Gold can acquire the Garrison Claims in exchange for:

  • CDN$25,000;

  • 25,000 common shares of Northern Gold; and

  • a one percent (1%) net smelter return royalty ("NSR") from production on the Garrison Claims, to be granted to vendor. Northern Gold shall have the right and option to purchase the NSR for the amount of $250,000.

In addition, pursuant to the terms of a mining claim acquisition agreement the Company can acquire the Holloway Claim in exchange for:

  • CDN$20,000; and

  • 200,000 common shares of Northern Gold.

  • a two percent (2%) NSR from production on the Holloway Claim, to be granted to vendors. Northern Gold shall have the right and option to purchase one-half of the NSR for the amount of $1,500,000.

Lastly, pursuant to the terms of two mining claim acquisition agreements the Company can acquire the Michaud Claims in exchange for an aggregate amount of $25,000.

The above-noted transactions are subject to receipt of all approvals required by the parties, including that of the TSX Venture Exchange (the "TSXV"). The securities to be issued in connection with the transaction will be subject to a four month hold period from the date of issuance.

About Northern Gold

Northern Gold is a TSXV-listed gold company based in Toronto, Ontario. The Company's main focus is the exploration and development of its prospective mineral properties of the Golden Bear Project in the Larder Lake Mining Division, northeastern Ontario. Led by an experienced management team, Northern Gold has a portfolio of advanced exploration projects, including the Jonpol and Garrcon Deposits and the newly acquired Buffonta Property. The recent property acquisitions including the Harker-Holloway Property and amalgamation with Victory Gold Mines Inc. add to the Company's regional consolidation strategy along the Destor-Porcupine Fault Zone.

CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Northern Gold's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in Northern Gold's public documents filed on SEDAR. Although Northern Gold believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Northern Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Northern Gold Mining Inc.
David Reid
Director, Business Development
416.366.7300 Ext. 104 or Cell: 705.254.8303
dreid@northerngold.ca
www.northerngold.ca

Northern Gold Mining

EXPLORATION STAGE
CODE : NGM.V
ISIN : CA66516M1095
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Northern Gold is a gold exploration company based in Canada.

Northern Gold holds various exploration projects in Canada.

Its main exploration properties are KIRKLAND LAKE, BOURKES GROUP, KIRKLAND LAKE, KIRANA GROUP, GARRISON and GARRISON - JONPOL / MONETA in Canada.

Northern Gold is listed in Canada. Its market capitalisation is CA$ 3.1 millions as of today (US$ 2.3 millions, € 2.1 millions).

Its stock quote reached its highest recent level on April 08, 2011 at CA$ 0.64, and its lowest recent point on December 23, 2015 at CA$ 0.01.

Northern Gold has 314 920 000 shares outstanding.

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Nominations of Northern Gold Mining
5/17/2013Announces Appointment of New President & CEO
10/10/2012Announces Board Changes and Officer Appointments and Reports...
Project news of Northern Gold Mining
9/10/2013(Garrison)Completes Acquisition of Contiguous Mining Claims to the Gar...
4/16/2013(Garrison)Acquires Additional Property in Garrison, Holloway and Micha...
1/31/2013(Garrison)Acquires Additional Property in Garrison and Harker Township...
8/18/2011(Garrison)Announces Three Additional Drills (Five in Total) on Its Gar...
7/26/2011Reports Assays for Six Drill Holes at Its Garrcon Gold Depos...
5/26/2011(Garrison)More Than Triples Land Holdings at and Near Its 100% Owned G...
5/16/2011(Garrison)ValGold and Northern Gold Close Garrison Property Sale
4/28/2011(Garrison)Intersects 61.0 m @ 2.32 g/t Gold Including 1.0 m @ 127.70 g...
4/26/2011(Garrison)Announces Significant New Gold Assay Results in Ongoing Dril...
4/12/2011(Garrison)Expands the Garrison Gold Property by 27% With Acquisition o...
4/7/2011(Garrison)and ValGold Announce Agreement to Consolidate 100% Ownership...
4/1/2011(Garrison)Announces Significant New Gold Assay Results
3/1/2011(Garrison)Hits 209 Meters of 1.44 g/t Including 1 Meter of 97.88 g/t, ...
2/24/2011(Garrison)Reports That Metallurgical Testing of the Garrcon Deposit Ha...
2/22/2011(Garrison)Hits 58 Meters of 1.08 g/t Gold Including 2 Meters of 13.07 ...
12/29/2010(Garrison)Initiates a New Mineral Resource Report and Preliminary Econ...
5/10/2010(Garrison)Initiates Phase II Drilling on Garrison Gold Property
3/31/2010(Garrison)Initiates Permitting Process for Advanced Exploration/Develo...
2/23/2010(Garrison)Hits 84.2 Metres of 1.49 g/t Gold Including 37.2 Metres of 2...
12/10/2009(Garrison)Hits 56.1 Metres of 2.14 g/t Gold Including 3.4 Metres of 16...
8/14/2008ANNOUNCES ADDITIONAL HIGH GRADE GOLD ASSAYS 552.96 g/t (16.1...
7/29/2008ANNOUNCES COMMENCEMENT OF DIAMOND DRILLING AT THE NEW HIGH G...
7/22/2008NEW DISCOVERY OF HIGH GRADE GOLD 2305 g/t (67.22 oz/t) ON N...
1/8/2008(Kirkland Lake)DRILLS 404.92g/t Au (11.81 opt) over 0.3m(1.0ft.) AT BOURKES
Corporate news of Northern Gold Mining
12/22/2015Oban Mining Completes Acquisition of Northern Gold
12/21/2015IIROC Trading Halt - NGM
12/21/2015Northern Gold Receives Court Approval for Business Combinati...
11/23/2015Northern Gold Files Circular Regarding Shareholder Vote on B...
10/22/2015Northern Gold Announces Updated Bulk Sample Results
10/6/2015Northern Gold Announces Updated Bulk Sample Results
6/30/2015Northern Gold Announces Updated Bulk Sample Results - Batch ...
4/23/2015Northern Gold Strengthens Board of Directors
2/26/2015Northern Gold Announces Updated Bulk Sample Results – Recove...
2/26/2015Northern Gold Announces Updated Bulk Sample Results-Recovers...
1/26/2015Northern Gold Announces Updated Bulk Sample Results - Recove...
10/27/2014Northern Gold Announces Initial Bulk Sample Results
10/14/2014Northern Gold Announces Closing of $5,000,000 Secured Debt F...
9/19/2014Northern Gold Announces Results of Annual and Special Meetin...
9/19/2014CORRECTION FROM SOURE: Northern Gold Announces Results ofAnn...
9/18/2014Northern Gold Announces Custom Milling Agreement with St. An...
8/27/2014Northern Gold Announces $5,000,000 Secured Debt Facility and...
7/14/2014Northern Gold Announces the Successful Filing of Its Closure...
6/9/2014Northern Gold Announces Change in Management
5/7/2014Northern Gold Submits Garrcon Advanced Exploration Closure P...
5/2/2014Northern Gold Files 43-101 Technical Report for its Garrison...
10/10/2013Intersects 38.35 g/t Au Over 8.0 m at Garrcon Deposit
9/26/2013Reports Results of Jonpol Metallurgical Testwork
9/18/2013Intersects 7.41 g/t Au over 6.5 m at Jonpol East Zone
8/29/2013Intersects 5.47 g/t Au OVER 17.3 m at Jonpol Deposit
8/21/2013Announces Issuance of Securities to Wahgoshig First Nation
8/15/2013Announces Exploration Agreement With Wahgoshig First Nation ...
7/30/2013Extends Gold Mineralization at Buffonta and Completes Initia...
7/10/2013Intersects 4.52 g/t Au over 11.5m at Gold Pike Property
5/7/2013Acquires Champagne Property
3/26/2013Intersects 23.5 g/t Au Over 4.1m at Jonpol Deposit
2/14/2013Named to TSX Venture Top 50
2/7/2013Completes Acquisition of Victory Gold Mines Inc.
1/21/2013Discovers 600-Metre Long High-Grade Gold Zone at Garrcon Eas...
12/12/2012to Acquire Victory Gold
10/25/2012Intersects Two 2-Metre Intervals of 9.85 g/t Au and 15.02 g/...
10/5/2012Announces Closing of $10.0 Million Brokered Private Placemen...
9/21/2012Announces $10.0 Million Private Placement of Flow Through Co...
7/20/2011Continues to Intersect Long Intervals of Gold Mineralization...
7/11/2011Intersects 3.0 m of Gold Assaying 660.0 g/t Including 1.0 m ...
6/23/2011Increases Garrcon Deposit Indicated Resource Five-Fold to 72...
4/19/2011Continues to Expand Exploration Ground With the Acquisition ...
6/15/2010Announces Assay Results of New Mineralized Zone Samples Grad...
9/15/2009And Valgold complete option agrement on Garrison Gold proper...
1/21/2009SIGNS LETTER OF INTENT WITH VALGOLD RESOURCES LTD.
9/3/2008EXPLORATION UPDATE
8/12/2008ANNOUNCES COMPLETION OF VTEM AIRBORNE SURVEY AND THE ADDITIO...
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