Northern Gold Mining Inc.
TSX VENTURE : NGM

Northern Gold Mining Inc.

December 24, 2009 11:46 ET

Northern Gold Accelerates Additional Warrants

TORONTO, ONTARIO--(Marketwire - Dec. 24, 2009) - The Directors of Northern Gold Mining Inc. ("Northern Gold" or "the Company") (TSX VENTURE:NGM) announce that the Company has elected to accelerate the expiry of 6,923,075 warrants ("Warrants") to purchase common shares ("Common Shares ") of the Company issued on 28 July 2009 as part of a private placement of units of the Company. Each Warrant entitles the holder to purchase one Common Share at a price of $0.10 per share. If all of the Warrants are exercised, the Company will receive gross proceeds of approximately $692,308. The net proceeds of the Warrant exercises will be used to advance the Company's Garrison gold property and for working capital purposes.

Pursuant to the terms of the warrant certificates governing the Warrants, the Company has the right to accelerate the expiry date of the Warrants in the event that the Common Shares trade at a closing price of greater than $0.20 on the Toronto Venture Stock Exchange for fifteen (15) or more consecutive trading days following 28 November 2009 (the "Acceleration Event "). To exercise this right, the Company must give express written notice to the holder ("Notice"), in which case the expiry date of the Warrants is accelerated to the date that is thirty (30) calendar days from the date Notice is provided by the Company to the holder. Notice was given to the warrant holders by registered mail on 21 December 2009 and the Warrants will now expire on 21 January 2010.

Pursuant to the terms of the warrant certificates governing the Warrants, the Company has the right to accelerate the expiry date of the Warrants in the event that the Common Shares trade at a closing price of greater than $0.20 on the Toronto Venture Stock Exchange for fifteen (15) or more consecutive trading days following 28 November 2009 (the "Acceleration Event "). To exercise this right, the Company must give express written notice to the holder ("Notice"), in which case the expiry date of the Warrants is accelerated to the date that is thirty (30) calendar days from the date Notice is provided by the Company to the holder. Notice was given to the warrant holders by registered mail on 21 December 2009 and the Warrants will now expire on 21 January 2010.

Northern Gold Mining Inc. is a Toronto based junior resource company dedicated to gold exploration in the Kirkland Lake mining camp of Northern Ontario. Its focus is the Garrison gold property, which contains an indicated resource of 253,100 tonnes grading 7.77 grams per tonne gold (63,200 ounces) and an inferred resource of 1,555,800 tonnes grading 4.93 grams per tonne gold (246,540 ounces), as described in the NI 43-101 report filed by Northern Gold on SEDAR on 21 October 2009.

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Northern Gold Mining Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Northern Gold Mining Inc.'s expectations are the risks detailed herein and from time to time in the filings made by Northern Gold Mining Inc. with securities regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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