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Northern Abitibi Mining Corp

Publié le 13 mai 2014

Northern Abitibi Receives Approval for the Ches Property Option

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Northern Abitibi Receives Approval for the Ches Property Option

CALGARY, ALBERTA--(Marketwired - May 13, 2014) - Northern Abitibi Mining Corp. ("Northern Abitibi") (TSX VENTURE:NAI) is pleased to announce that it has received TSX Venture Exchange conditional approval for the option agreement to earn a 100% interest in the Ches copper-molybdenum-tungsten property located in central British Columbia.

Northern Abitibi can earn a 100% interest in the Ches Property by making staged cash and share payments over 4 years totaling $50,000 cash and 1.6 million shares at a deemed value of $0.05 per share, and spending a total of $500,000 on exploration. Upon signing and receiving TSX Venture Exchange approval, Northern Abitibi must issue 350,000 Northern Abitibi shares, and the Company must spend $50,000 on exploration within the first year. The Vendors will retain a 2% net smelter royalty, three quarters of which can be bought back by Northern Abitibi for $2 million dollars.

Northern Abitibi has issued a total of 350,000 common shares at deemed value of $0.05 per share to the Vendors which are subject to a hold period until September 8, 2014.

A budget of up to $67,000 has been approved for a first pass exploration program at the Ches Property. This exploration program will consist of mapping, soil and rock channel sampling, and excavator trenching to evaluate and expand known zones of mineralization exposed in logging road cuts. A permit application to conduct this work has been submitted to the Ministry of Energy and Mines and the program will commence in the summer of 2014 pending the receipt of all necessary permits.

An additional 1927 hectares have been staked around the Ches property enlarging the property over 4 times its original size, and bringing the total property size to 2390 hectares.

Barbara O'Neill, Corporate Secretary

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Northern Abitibi's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern Abitibi. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern Abitibi's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Northern Abitibi's filings with the Canadian securities authorities. Accordingly, holders of Northern Abitibi shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern Abitibi disclaims any responsibility to update these forward-looking statements.

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Northern Abitibi Mining Corp

EXPLORATEUR
CODE : NAI.V
ISIN : CA6647241018
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Northern Abitibi Mining est une société d’exploration minière d'or et de cobalt basée au Canada.

Ses principaux projets en exploration sont SOUTH VOISEY BAY, TAYLOR BROOK, DOUAY NORTHWEST et VIKING au Canada.

Northern Abitibi Mining est cotée au Canada. Sa capitalisation boursière aujourd'hui est 1,1 millions CA$ (806 842 US$, 756 657 €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 0,44 CA$, et son plus bas niveau récent le 01 janvier 2016 à 0,01 CA$.

Northern Abitibi Mining possède 107 310 000 actions en circulation.

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Financements de Northern Abitibi Mining Corp
28/03/2011Announces Non-Brokered Financing
Nominations de Northern Abitibi Mining Corp
19/06/2012Appoints Interim Chief Financial Officer
Projets de Northern Abitibi Mining Corp
17/10/2012(Viking)Shareholders Approve the Sale of the Viking Property to Spru...
07/12/2011(Viking)Announces New Resource Estimate for Viking With 55% Increase...
19/09/2011=2E: New Zones of Gold Mineralization Discovered at Surface
18/08/2011(Viking)Announces Additional Drill Results From Viking and the Disco...
27/07/2011(Viking)Announces Additional Drill Results from Viking Including 1=2...
28/06/2011(Viking)Announces Drill Results from Viking Including 1=2E3 Metres G...
17/05/2011(Viking)Drilling Commences at Northern Abitibi's Viking Project
21/04/2011(Viking)Receives 2011 Exploration Permits and Signs Drill Contract
30/03/2011(Viking)Announces 2011 Exploration Plans for Viking
02/03/2011(Viking)Announces Initial Independent Gold Resource Estimate for Vik...
19/08/2010(Viking)Provides Summary of Additional Gold Targets at Its Viking Pr...
12/08/2010(Viking)Intersects More Gold at Viking
13/07/2010(Viking)Announces Additional Drill Results From Viking Including 8=2...
22/06/2010(Viking)Announces Widest MineralizedDrill Intersections at Viking to...
27/05/2010(Viking)Continues to Intersect High Grade Gold at Viking
03/05/2010(Viking)Commences Drilling at Viking
07/04/2010(Viking)Receives Exploration Permits for Viking Drill Program
18/11/2008(Viking) Drills High Grade Gold Including 218.79 g/t Over 0.5m & 50....
Communiqués de Presse de Northern Abitibi Mining Corp
09/03/2015Acquires Cariboo Gold Property in British Columbia
09/03/2015Northern Abitibi Acquires Cariboo Gold Property in British C...
17/12/2014Northern Abitibi Annouces Trenching Results for Ches Includi...
30/10/2014The 2014 Exploration Program Has Been Completed at Northern ...
02/10/2014Exploration to Commence at Northern Abitibi's Ches Property,...
21/08/2014Fire Delays Exploration at Northern Abitibi's Ches Property,...
02/06/2014Northern Abitibi Announces Results of Annual & Special Meeti...
13/05/2014Northern Abitibi Receives Approval for the Ches Property Opt...
28/04/2014Northern Abitibi Approves Exploration Budget for Ches Proper...
23/04/2014Northern Abitibi Options Ches Property in British Columbia
09/07/2013Enters Into an Agreement to Sell Its Interest in the Sarah L...
29/10/2012(Viking)Completes Viking Property Sale to Spruce Ridge Resources and...
14/08/2012(Viking)Consolidates the Viking District Through a Sale of Viking to...
08/05/2012Receives $100,000 Grant
09/01/2012Files Technical Report
28/01/2009Romarco Encounters 60.6 meters of 6.9 g/t Au at Haile
21/01/2009Gold Star Acquires West African Oil and Gas Consessions
22/01/2009Gold Company Assays 2.45 Metres Averaging 38.17 g/t Au From ...
21/01/2009Romarco Encounters a 57.4 Meter Aggregate Zone of 2.8 G/T Au...
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