Northern Star Mining Corp. (TSX VENTURE:NSM) announces that further to its news release of July 7, 2009 it has been advised by the syndicate of agents led by Casimir Capital L.P. that they intend to exercise their over-allotment option to sell up to an additional CDN$5,000,000 in subscription receipts to increase the total size of the private placement to approximately CDN$25,000,000 (the "Financing"). The final allocation of the Financing between unit subscription receipts and "flow-through" subscription receipts remains subject to adjustment, however, the Company understands that approximately 80% of the Financing will be comprised of unit subscription receipts and 20% of the Financing will be comprised of "flow-through subscription receipts. The purchase price for the "flow-through" subscription receipts has also been re-priced at CDN$0.56 per subscription receipt. In all other material respects, the Financing remains the same as disclosed in the Company's news release of July 7, 2009.

Closing of the Financing is scheduled to occur on or about July 23, 2009 and remains subject to the final acceptance of the TSX Venture Exchange and applicable securities legislation.

ON BEHALF OF THE BOARD

Jonathan Awde, VP Corporate Finance

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.