TORONTO, ONTARIO–(Marketwired – Aug. 15, 2013) – NORTHERN GOLD MINING INC. (TSX VENTURE:NGM) (“Northern Gold” or the “Company”) is pleased to announce that it has entered into an exploration agreement (the “Agreement”) with the Wahgoshig First Nation community (“Wahgoshig”) near Garrison Township, Ontario. The Agreement establishes a commitment by the Company to develop an ongoing relationship with Wahgoshig in the area of the Company’s Golden Bear Project, and provides Wahgoshig with an opportunity to participate in the benefits of Northern Gold projects through training, ongoing communication and business development. Northern Gold has also agreed to negotiate an Impact Benefit Agreement with Wahgoshig should construction or mining operations commence on any of the Company’s properties located on Wahgoshig traditional territory.
Martin Shefsky, President and Chief Executive Officer of Northern Gold, stated, “The Agreement is an important step as we strengthen our mutually respectful and beneficial relationship with Wahgoshig. We will continue working closely with Wahgoshig and look forward to receiving their input as we explore the opportunities within the Golden Bear Project and move forward in a socially responsible manner for the benefit of all stakeholders.”
Chief David Babin of Wahgoshig stated, “We are pleased to enter into the Agreement and appreciate that Northern Gold has consistently recognized and acknowledged our constitutional rights. We will continue to participate in the exploration and development of the Golden Bear Project and believe that Wahgoshig stands to benefit from the business and employment opportunities that this project brings to our community.”
In addition to Northern Gold’s commitments to training, communication, community funding and business development, the Company has also agreed to issue to Wahgoshig 200,000 common shares of the Company (each, a “Share”) and 200,000 Share purchase warrants (each, a “Warrant”), with each Warrant exercisable to acquire one Share for a period of five years from the date of issuance of the Warrants at an exercise price of $0.05 per share. The issuances of Shares and Warrants will allow Wahgoshig to directly participate in any potential successes of Northern Gold. The Agreement remains subject to approval by the TSX Venture Exchange.
About Northern Gold
Northern Gold is a TSXV-listed gold company based in Toronto, Ontario. The Company’s main focus is the exploration and development of its prospective mineral properties at the Golden Bear Project in the Larder Lake Mining Division, northeastern Ontario. Northern Gold has a portfolio of advanced exploration projects, including the Jonpol and Garrcon Deposits and the Buffonta Property. Recent transactions, including the Harker-Holloway Property acquisition and the amalgamation with Victory Gold Mines Inc., add to the Company’s regional consolidation strategy along the Destor-Porcupine Fault Zone.
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Northern Gold Mining Inc.
Martin Shefsky
President & Chief Executive Officer
647.297.8793
mshefsky@northerngold.ca
Northern Gold Mining Inc.
Eric Szustak
Manager, Business Development
905.330.7948
eszustak@northerngold.ca
www.northerngold.ca