Northern Abitibi closes $604,000 private placement

Northern Abitibi Mining Corp.

High grade Gold & Nickel discovery, Viking & Taylor Brook - Newfoundland

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Northern Abitibi closes $604,000 private placement

posted on Apr 03, 2008 09:39AM

Northern Abitibi closes $604,000 private placement

2008-04-02 16:47 ET - News Release

Dr. Shane Ebert reports

NORTHERN ABITIBI CLOSES NON-BROKERED FINANCING

Northern Abitibi Mining Corp. has closed a non-brokered private placement for 1,929,029 units at a price of 15.5 cents per common unit and 1,694,439 flow-through common shares at a price of 18 cents per share, for combined gross proceeds of $604,000.

Each common unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one additional common share at a price of 23 cents per share until April 2, 2010.

All securities issued are subject to a hold period until Aug. 3, 2008. A total of 452,193 units and 416,666 FT shares were issued to directors and officers. There were no finder's fees paid in connection with this financing.

Proceeds of the financing are to be used to finance a portion of the proposed 2008 exploration programs at the Taylor Brook nickel-copper-cobalt-PGE and Viking gold prospects located in northwestern Newfoundland, investigate new property acquisitions, and for general working capital.

Dr. Shane Ebert, PGeo, is the qualified person responsible for the preparation of this news release.