(via Thenewswire.ca)

Val-d'Or, Quebec - November 2, 2011 - NioGold Mining Corporation (TSX-V:NOX) ("NioGold" or the "Company") is pleased to announce that it will conduct a non-brokered private placement of up to 1,388,889 flow-through shares at a price of $0.36 per share for gross proceeds of approximately $500,000. The proceeds from the private placement will be used to the fund the exploration and development of the Company's properties.

The private placement remains subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period under Canadian securities laws. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States or to or for the account or benefit of a U.S. person. This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities in the United States or to a U.S. person.

NioGold Mining Corporation - « On Canada's Golden Highway »

NioGold Mining Corporation is a mineral exploration company focused on GOLD. The Company's flagship projects are located in the Cadillac - Malartic - Val-d'Or stretch of the prolific Abitibi gold mining district, Province of Quebec, Canada. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930's and presently encompasses seven producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold's land holdings within the Abitibi presently cover 125 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.

NioGold's experienced and qualified technical team will ensure the successful advancement of the Company's projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com. For information on NioGold Mining Corporation contact:

Michael A. Iverson, Chairman & CEO Dale Paruk, Vice-President [email protected] [email protected] Tel: (604) 856-9887 Tel: (604) 662-4505 Toll-free: (877) 642-6200