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OTTAWA, Jan. 11 /CNW Telbec/ - Northern Shield Resources Inc. ("Northern Shield") (TSX-V: NRN) is pleased to announce that it has staked a new PGE prospect in Quebec. The property, which is located approximately 100 kilometers southeast of the town of Radisson, covers a 7 kilometer stretch of a peridotite dyke that has a total strike length of about 20 kilometers. The claims were strategically acquired in the middle portion of the dyke where the body widens and the rocks are zoned from a peridotite core to a gabbroic margin. Confirmation of claim registration is pending from the Quebec Ministry of Natural Resources and Wildlife.
Very little known exploration for PGEs has been conducted on this portion of the dyke. An EM (electro-magnetic) survey is being planned for later in the winter.
Subject to TSX Venture Exchange approval Northern Shield will issue 50,000 common shares to an individual as a finder's fee regarding the acquisition of the property and will issue a further 50,000 common shares to such individual on the second anniversary of the acquisition provided Northern Shield still maintains an interest in the claims.
Acquisition of the property was overseen by Christine Vaillancourt, Chief Geologist for Northern Shield and a Qualified Person under National Instrument 43-101.
Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) exploration in Ontario. Its mission is to create a successful mineral exploration company through technical excellence and efficient management, where success is measured by the identification and development of high-quality mineral exploration projects, which may ultimately be optioned, sold or developed for maximum return on investment.
Forward-Looking Statements Advisory
This news release contains statements concerning the potential for PGE mineralization on the new Quebec property, geological and geometrical analyses of the property, and other expectations, plans, goals, objectives, assumptions, information or statements about future events, conditions, results of exploration or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect.
Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Northern Shield can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties involved in mineral exploration.
The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
