NioGold Mining Corporation Investor Update
VAL-D'OR, Quebec, Feb 19, 2010 (GlobeNewswire via COMTEX News Network) --
NioGold Mining Corp. (Other OTC:NOXGF) (TSX-V:NOX) (Frankfurt:NG1) provides investor update to announce developments in Quebec.
Dear shareholders,
The management of NioGold Mining Corp. (Other OTC:NOXGF) (TSX-V:NOX) (Frankfurt:NG1) would like to take this opportunity to provide its investors with recent key developments in Quebec.
-- Malartic project NI 43-101 compliant gold resources now total 600,000
ounces Indicated plus 360,000 ounces Inferred
-- Substantial near surface lower-grade gold mineralization, not included
in the current resources, warrant further evaluation for open-pit
potential
-- Exploration drilling on trend intersected wide mineralized shear zones
-- Salient results from the exploration drilling completed to date are
expected to be released in the upcoming weeks
-- Acquired a strategic stake in an evolving new gold play in southern
Quebec
Malartic project
The Company reached a major milestone with the release of the latest NI 43-101 compliant resource estimates that confirm 600,000 ounces of gold in the Indicated category in addition to 360,000 ounces in the Inferred category (News Release: January 28, 2010). Total project ounces in the ground amount to 1,130,000 when historic ounces of 170,000 are included. These historic ounces have not yet been confirmed by the Company under NI 43-101 standards and regulations.
Management believes the current resources could be greatly increased through comprehensive development drilling. The Company plans to further evaluate the shallow mineralization for potential open-pit extraction. Four (4) important gold mineralized shear zones (faults) are recognized on the land holdings. Since September, exploration drilling was directed at tracing these prospective structures to the northwest and on trend with the known gold deposits.
Nicolet-South project
NioGold recently signed a Letter of Intent to acquire a 100% interest in a strategic large land position in the Thetford Mines area, situated in the southern Quebec Appalachian region. Canada's first placer gold rush occurred there in the 1850's and the region is presently enjoying a major staking rush. The Company plans a first prospecting campaign on the grounds during the upcoming summer.
New Brand Identity - Coming Soon!
You may have noticed our logo has changed. This is a small preview of the new brand identity and website which are currently under development. The new look represents the evolution and continued progress we are making at NioGold. The unveiling of the new website is targeted to coincide with the PDAC 2010 convention held in Toronto from March 7 to 10.
The NioGold Mining Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7112
