Northern Shield Resources Inc.

Concentrating on Platinum group element (PGE), Gold & Diamond exploration.

Free
Message: Northern Shield Completes Private Placement for Gross Proceeds of $200,000


cnw






Tempest Drilling to Resume After Winter Break-up


OTTAWA, April 12, 2012 /CNW/ - Northern Shield Resources Inc. ("Northern
Shield") (TSXV: NRN) is pleased to announce that it has completed a
non-brokered private placement (the "Private Placement") with SIDEX
Limited Partnership for gross proceeds of $200,000 by issuing 909,091
units ("Units") at $0.22 per Unit. Each Unit consists of one common
share and one half of one common share purchase warrant. Each whole
warrant is exercisable for one common share at a price of $0.40 per
common share for a period of 24 months. The Units are subject to a hold
period of 4 months from the date of issuance and the Private Placement
is subject to the final approval of the TSX Venture Exchange. The
proceeds from the Private Placement will be primarily used for Northern
Shield's PGE exploration efforts in Quebec.


Northern Shield also announces that it has completed five drill-holes
totaling approximately 2100 m of the planned 3,000 meter drill program
at the Tempest property in northern Ontario. There will be a brief
pause in the drilling to allow for winter break-up. Assays for the five
drill-holes completed to date are pending. Drilling will resume at
Tempest in mid to late May. On completion of the 3000 meter drill
program at Tempest the drill rig will be moved to Wabassi to commence a
10,000 m drill program. Northern Shield maintains a 100% interest in
the Tempest property that is being explored for copper-zinc-silver
VMS-type mineralization and gold. The Wabassi property is a 49/51 joint
venture with Discovery Harbour Resource Corp and is also being explored
for copper-zinc-silver VMS-type mineralization


All exploration programs will be overseen by Christine Vaillancourt,
Chief Geologist for Northern Shield and a Qualified Person under
National Instrument 43-101.


SIDEX was established by the government of Quebec and the Solidarity
Fund QFL. The mission of SIDEX is to invest in companies engaged in
mineral exploration in Quebec in order to diversify Quebec's mineral
base, encourage new exploration models, stimulate investment for new
commodities in existing districts and open new territories with high
potential for discovery.


Northern Shield is an innovative, results-driven Canadian company
focused on Platinum Group Element (PGE) exploration in Canada and
copper-zinc-silver exploration on its Wabassi and Storm properties in
northern 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. For further information on Northern Shield and its
properties, please visit our website at http://www.northern-shield.com/">www.northern-shield.com or contact:







No stock exchange, securities commission or other regulatory authority

has approved or disapproved the information contained herein.






For further information:

Northern Shield Resources Inc. Ian Bliss President and CEO Tel.: (613) 232-0459 Fax: (613) 232-0760 info@northern-shield.com

Share
New Message
Please login to post a reply