Northern Spirit Resources Inc.

March 24, 2010 10:26 ET

Northern Spirit Resources Inc.: Proposed Private Placement Financing

CALGARY, ALBERTA--(Marketwire - March 24, 2010) -


Northern Spirit Resources Inc. ("Northern Spirit" or the "Corporation") (TSX VENTURE:NS) is pleased to announce a proposed non-brokered private placement offering to non-related parties of 800,000 common shares at $0.25 each for gross proceeds of $200,000. The offering has been subscribed for, is being made under the TSX Venture Exchange Private Placement Policy and closing is subject to receipt of regulatory approval. The proceeds will be used for exploration, property acquisitions, working capital and general corporate purposes.

WARNING: the Corporation relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary material include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Corporation does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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.

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