Northern Gold Mining Inc.
TSX VENTURE : NGM

Northern Gold Mining Inc.

June 15, 2009 16:15 ET

Northern Gold Mining Inc. Announces $600,000 Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - June 15, 2009) - The Directors of NORTHERN GOLD MINING INC. (TSX VENTURE:NGM) ("Northern Gold") are pleased to announce a proposed non-brokered private placement financing of up to $600,000 comprising the sale of up to 12,000,000 Units, to be sold at $0.05 per Unit, subject to regulatory approval and closing. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one common share for $0.10 for a period of 18 months (the "Warrant Term") from the closing of the transaction (the "Closing Date"), provided, however, that should the closing price at which the common shares trade, equal or exceed $0.20 for 15 consecutive trading days following the date that is four months and one day after the Closing Date, Northern Gold may accelerate the Warrant Term to the date which is 30 days following the date a press release is issued by Northern Gold announcing the reduced Warrant Term. All securities issued in conjunction with the offering will be subject to a hold period, which expires four months after closing.

Proceeds of the financing will be used to fund exploration and working capital.

About Northern Gold:

Northern Gold Mining Inc. is a Toronto-based junior resource company dedicated to gold exploration in the proven mining camps of Kirkland Lake and Timmins in Northern Ontario. The goal of our experienced and highly-skilled management team is to maximize shareholder value through successful exploration and the aggressive testing of high quality targets.

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.

The TSX Venture Exchange does not accept 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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