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Re: News Release - Tuesday, June 19, 2007
Northland Resources C$107-million Private Placement Fully
Subscribed
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Vancouver, June 19, 2007: Buck Morrow, President of Northland Resources
Inc. ("Northland" or the "Company") is pleased to announce that,
subject to TSX Venture Exchange acceptance, the Company has
successfully and fully subscribed the private placement of C$
107-million (22,792,500 new shares) new shares at a subscription price
of NOK 26.50 per share (the "Private Placement") .

Northland has resolved to issue a total of 22,792,500 new shares each
at a par value of nil per share. The new shares cannot be sold or
resold in Canada or to a Canadian resident or through a Canadian Stock
Exchange for a period ending four (4) months and a day from the
distribution date of the Private Placement shares, or, if the
subsequent offering has not been completed by 15 August 2007, a period
ending four (4) months plus one day from the completion of the Private
Placement. From the completion of the Private Placement and until the
end of such period, the new shares will be tradable on the Oslo B�rs
under a separate ISIN number and ticker.

The Private Placement was subscribed by institutional investors in
Norway and internationally at a price of NOK 26.50 per share, raising
gross proceeds of C$107-million (approximately USD 100 million.) The
Private Placement was subject to a minimum subscription and allocation
of the NOK equivalent to EUR 50,000.

The gross proceeds from the Private Placement will be used to finance
the Company's investment program for its iron-copper-gold projects in
Sweden and Finland (CAPEX and ordering of long lead process items) and
for general corporate purposes.

The Private Placement was managed by Pareto Securities ASA.

Allocation letters will be sent to the subscribers today. Payment for
the allotted shares must be made within June 22, 2007. The new shares
of Northland will be tradable on Oslo Stock Exchange from the date of
issue which is expected to take place mid July 2007, upon the
publication of a prospectus reviewed an approved by Oslo Stock
Exchange.

Following completion of the Private Placement, the Company will conduct
a subsequent offering in which additional new shares constituting up to
10% of the number of Shares issued in the Private Placement (being up
to 2,279,250 new shares) will be offered at the same subscription price
as in the Private Placement. In the subsequent offering, shareholders
of the Company whose shares are traded on the Oslo Stock Exchange as of
June 18, 2007 (i.e. shareholders registered in the VPS on June 21,
2007) and not being invited to participate in the Private Placement
will, to the extent possible, be given preferred allocation. The
details of the subsequent offering will be described further in a
prospectus to be reviewed and approved by Oslo B�rs, expected to be
published mid July.

Background

Northland Resources Inc. is a well-structured, debt free junior
exploration company with a portfolio of high quality iron, gold, and
base metal exploration projects in Sweden and Finland.

ON BEHALF OF THE BOARD

"Buck Morrow"

NORTHLAND RESOURCES INC.

This press release contains "forward-looking information" that is based
on Northland's current expectations, estimates, forecasts and
projections. This forward-looking information includes, among other
things, statements with respect to Northland's plans, outlook and
business strategy, and in particular the manner in which the funds from
the private placement will be utilized. The words "may", "would",
"could", "should", "will", "likely", "expect," "anticipate," "intend",
"estimate", "plan", "forecast", "project" and "believe" or other
similar words and phrases are intended to identify forward-looking
information. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause
Northland's actual results, level of activity, performance or
achievements to be materially different from those expressed or implied
by such forward-looking information. Readers should not place undue
reliance on such forward-looking information. Northland disclaims any
intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events or
otherwise.

The TSX Venture Exchange has not reviewed and does not take
responsibility for the accuracy of this release.

CONTACT INFORMATION
Northland Resources Inc.
Buck Morrow, President
Toll Free: 1-866-719-8962
www.northlandresourcesinc.com

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Copyright (c) 2007 NORTHLAND RESOURCES INC. (NAU) All rights reserved.
For more information visit our website at
http://www.northlandresourcesinc.com/ or send
mailto:karenr@goldgroup.com
Message sent on Tue Jun 19, 2007 at 6:41:07 AM Pacific Time
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