Northern Abitibi Mining Corp.
TSX VENTURE : NAI

Northern Abitibi Mining Corp.

January 24, 2007 16:34 ET

Drilling is Complete at Northern Abitibi's Cold Springs Gold-Silver Property, Nevada, a New Zone of Quartz Veining has Been Discovered

CALGARY, ALBERTA--(CCNMatthews - Jan. 24, 2007) - Northern Abitibi Mining Corp. (TSX VENTURE:NAI) ("Northern Abitibi") is pleased to announce that its first pass drill program at the Cold Springs Property in Nevada is complete. Five reverse circulation holes have been drilled, for a total of 1664.2 meters of drilling.

Holes 06CS-1 and 06CS-2 were completed in December and tested deep geophysical anomalies that directly underlie quartz veining at surface. Holes 06CS-1 and 06CS-2 also tested a covered range front fault and pediment on the southwest side of the prospect. Hole 06CS-1 was lost at 341.4 meters depth before it completely tested the deep geophysical anomalies. Both holes intersected strong zones of clay alteration associated with the range front fault but neither hole intersected significant zones of quartz veining. Assay results for holes 06CS-1 and 2 have been received. Hole 06CS-1 did not encounter any significant gold or silver mineralization although the hole did intersect weakly anomalous gold values (to 0.03 g/t) associated with the hangingwall of the range front fault. Hole 06CS-2 intersected weakly anomalous gold associated with the altered range from fault between 18 and 27 meters depth, and also intersected 1.52 meters grading 0.2 g/t gold and 43.6 g/t silver associated with a zone of strong clay alteration at 274.3 meters depth.

Holes 07CS-3, 07CS-4, and 07CS-5 were drilled in January and tested the northeast side of the prospect. Hole 07CS-3 has discovered a new zone of quartz veining concealed under shallow cover. The hole intersected 3 quartz veins with drill intercepts ranging from 1.5 to 4.5 meters wide at 36.6 to 61 meters depth in the hole. Hole 07CS-4 was drilled from the same pad as 07CS-3 but at a steeper angle, and was lost due to difficult drilling conditions before it intersected the zone of quartz veining. Hole 07CS-5 tested the same zone as hole 07CS-3 two hundred and fifty meters along strike and intersected narrow quartz veins or stockwork style veining from 3 to 40 meters depth, as well as a 19 meter wide partially silicified rhyolite dike at 202 to 221 meters depth in the hole.

The new veins and dike encountered in holes 07CS-3 and 07CS-5 correspond to a strong geophysical anomaly which runs northwest along the northeast side of the prospect. The geophysical anomaly is characterized by a resistivity low and can be traced for at least 400 meters along strike and persists to over 500 meters depth. At least 2 additional untested geophysical anomalies exist further to the northeast, concealed under shallow cover.

Samples from drill holes 07CS-3, 4, and 5 have been sent to the lab and assay results are expected in early to mid February. Drill samples were picked up on site by American Assay Laboratories Inc. and transported to their laboratory in Reno Nevada for processing and analyses. Gold was assayed by standard fire assay methods and silver was analysed by atomic absorption spectrophotometry. Duplicate samples and blanks were included with each batch of samples and checked to ensure proper quality assurance and quality control (QA/QC). The Qualified Person responsible for the design and implementation of the field program as well as the preparation of this news release was Dr. Shane Ebert, P.Geo., and President of the Company.

There is a map available on CCNMatthews' website at: http://www.ccnmatthews.com/docs/124NAI_map.pdf

Shane Ebert, President/Director

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Northern's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Northern's filings with the Canadian securities authorities. Accordingly, holders of Northern shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern disclaims any responsibility to update these forward-looking statements.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Northern Abitibi Mining Corp.
    Shane Ebert
    (403) 233-2636
    or
    Northern Abitibi Mining Corp.
    Jean Pierre Jutras
    (403) 233-2636
    Website: www.naminco.ca