NioGold Mining Corporation

NioGold Mining Corporation

January 10, 2008 14:45 ET

NioGold Mining Corporation: Marban Drilling Returns 9.8 g/t Gold Over 3.0 Metres and 13.1 g/t Gold Over 1.9 Metres

VAL-D'OR, QUEBEC--(Marketwire - Jan. 10, 2008) - NioGold Mining Corporation (TSX VENTURE:NOX)(FRANKFURT:NG1) ("NioGold") reports on results of the 2007 diamond drilling program on the Marban Block property, located in the Malartic Gold Camp, Quebec.

Assay results were received for 9 drill holes completed in Q4, 2007, on the Marban Mine target. The holes returned additional strong gold results within the favourable units hosting the former Marban Mine ores (Mine Sequence) with best intervals of:

- hole MB-07-028: 5.06 g/t Au over 6.4 m, incl. 9.78 g/t Au over 3.0 m;
9.47 g/t Au over 1.2 m;
- hole MB-07-024: 3.84 g/t Au over 8.7 m, incl. 13.14 g/t Au over 1.9 m;
- hole MB-07-025: 7.23 g/t Au over 1.2 m.

Other gold mineralised intersections of significance were obtained within the hangingwall ultramafic units above the Mine Sequence:

- hole MB-07-029: 6.16 g/t Au over 2.9 m;
- hole MB-07-020: 5.49 g/t Au over 1.0 m;
7.36 g/t Au over 1.0 m.

Results are tabled on the following page. Reported intervals are in core lengths but are inferred to be close to true width as the holes were drilled perpendicular to the attitude of the mineralised zones.

NioGold completed 27 drill holes, for a total of 10,825 metres, on the Marban Mine target in 2007. The holes tested a 750-metre strike extent of the gold mineralized system, from sections 5+50 E to 2+00 W. Gold mineralised zones are mainly localised in proximity to the upper and lower contacts of the Mine Sequence with best values and thickest intervals often associated with tight folding of the contacts. The drilling also revealed potential within the hanginwall ultramafic units well above the Mine Sequence.

The 2007 drilling over the sector highlighted the robust nature of the Marban gold mineralised system and the Company believes that the target offers excellent potential to outline new high-quality resources at relatively shallow depths (0 to 500 metres vertical depth) within the Mine Sequence. Much more drilling will be needed in order to establish continuity of the gold mineralised zones intersected in 2007. An additional 10,000 metres of drilling was planned and is presently in progress that is mainly intended to investigate the west strike extent of the system where limited drilling was conducted in the past.

Core Grade
Hole Line Station Depth From To Length (g/t
# (m) (m) Az Dip (m) Unit (m) (m) (m) Au)
MB-07 3+50 E 1+20 S 181 -45 189.0 MS updip 73.0 74.0 1.0 4.50
-019 deg- deg-
rees rees
MB-07 3+50 E 1+83 N 178 -80 795.0 C. Grano- 203.0 206.0 3.0 3.86
-020 deg- deg- diorite
rees rees
HW Ultra- 216.0 217.0 1.0 5.49
HW Ultra- 245.0 246.0 1.0 7.36
MS downdip 721.0 722.0 1.0 4.46
MB-07 3+00 E 0+50 N 185 -45 251.0 NSA
-023 deg- deg-
rees rees
MB-07 3+00 E 0+50 N 186 -80 282.0 HW Ultra- 31.4 34.5 3.1 2.22
-024 deg- deg- mafics
rees rees
MS updip 206.3 215.0 8.7 3.84
including 206.3 208.2 1.9 13.14
MB-07 0+00 1+00 S 182 -50 207.0 MS updip 36.1 39.7 3.6 2.76
-025 deg- deg-
rees rees
MS updip 72.3 73.5 1.2 7.23
MB-07 0+11 E 0+60 N 175 -50 180.0 NSA
-026 deg- deg-
rees rees
MB-07 1+00 E 0+50 N 184 -50 218.0 MS updip 55.1 56.3 1.2 2.82
-027 deg- deg-
rees rees
MB-07 0+00 E 2+00 N 183 -55 450.0 MS updip 264.8 271.2 6.4 5.06
-028 deg- deg-
rees rees
including 268.2 271.2 3.0 9.78
MS downdip 313.4 314.6 1.2 5.05
MS downdip 389.8 391.0 1.2 9.47
MS downdip 414.6 426.6 12.0 1.39
MB-07 0+00 E 3+00 N 183 -70 551.0 HW Ultra- 118.7 121.55 2.9 6.16
-029 deg- deg- mafics
rees rees results
on MS
MB-07 2+00 W 2+50 N 185 -50 404.0 results
-030 deg- deg- pending
rees rees
MB-07 2+00 W 0+00 N 180 -45 222.0 results
-031 deg- deg- pending
rees rees

Readers are invited to review the previously reported results for holes MB-07-003 to MB-07-018 available at

Quality Assurance / Quality Control and Qualified Persons

Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes for the mineralised zones. The core was delivered by the drilling contractor to NioGold's facilities located at the Norlartic Mine site. The core was photographed for reference, logged and mineralised sections were sawed in half. Sample lengths varied between 0.5 to 1.5 metres. The half core samples were bagged, sealed and trucked to Activation Laboratories Limited ("Actlabs") in Ancaster, Ontario, an accredited laboratory. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split.

A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and duplicates in the sample batches sent to the laboratory and a systematic re-assaying from the remaining coarse reject fraction by the fire-assay method with an atomic absorption finish for samples returning values of 2 to 5 g/t Au and by gravimetric finish for samples returning values greater than 5 g/t Au. As well, 10% of the pulps are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.

This news release was prepared by Rock Lefrancois, P.Geo. (OGQ), the Company's Vice-President and Qualified Person as defined by National Instrument 43-101. The exploration programs are conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), also a Qualified Person as defined by National Instrument 43-101.

NioGold Mining Corporation - "The Golden Highway Runs Through NioGold"

NioGold Mining Corporation is a junior exploration company primarily focused on GOLD. The Company's main properties are the Camflo West and the Marban Block located in the Malartic and Val-d'Or Mining Camps, Abitibi, Quebec, with a historic production of 25 million ounces of gold. The camps presently encompass several active advanced exploration and mine development projects such as Canadian Malartic (Osisko Exploration), Kiena (Wesdome), Midway (Northern Star Mining), Goldex (Agnico-Eagle) and Lac Herbin (Alexis Minerals). The Marban Block encompasses three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced over 590,000 ounces of gold.

NioGold's experienced and qualified technical team will ensure the successful advancement of the Company's projects towards the highest quality mineral resources. NioGold invites you to visit the company website at

This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.

The TSX Venture Exchange or the Frankfurt Stock Exchange did not approve nor do not accept responsibility for the adequacy or accuracy of this news release.

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