Northern Star Mining Corporation
TSX VENTURE : NSM
OTCQX : NSMSF

Northern Star Mining Corporation

October 27, 2009 08:40 ET

Northern Star Announces Further Drill Results From Malartic-Midway Project

VAL D'OR, QUEBEC--(Marketwire - Oct. 27, 2009) - Northern Star Mining Corp. (TSX VENTURE:NSM)(OTCQX:NSMSF) (Northern Star Mining or the "Company") is pleased to announce further drill results from its surface and underground exploration and development programs.

Malartic-Midway Project

Underground drilling on the Malartic-Midway gold project (16km west of Val-d'Or – Quebec, immediately adjacent to the Osisko gold project) resulted in the following results:



HOLE #

From
(m)

To
 (m)
Core
length
 (m)

Grade
 (g/t Au)


Rock Type
      
44Drift wall    
 0886.92Gabbro
      
69Drift floor    
 30.732.92.28.35Gabbro

Underground development of the Briar bulk sampling program is continuing while blasting (mining) of the Chabela bulk sample is underway.

Gold mineralization has been encountered in the main Briar haulage decline, following which the Company decided to drift into the porphyry for exploration and if warranted bulk sampling purposes.

During advancement of this exploration drift, a previously unknown gold mineralized gabbro was discovered.

Grab and muck samples along the face and from the muck haulage trucks returned an average cut grade of 14.8g/t over a true horizontal width of 4.5 meters. The Company has now advanced this drift over 40 meters in mineralized porphyry and gabbro.

A blast test hole (3.7 meters in length) in the gabbro ahead of drifting returned an average cut grade of 9.68g/t.

Drifting into the underground discoveries at the L and K zones (previously announced) is underway and the Company has contracted an immediate 4,000 meter underground drill program for these and other underground drill sites.

Beacon Mill

The Company is now set to begin milling operations at its wholly owned Beacon mill for the processing of its Malartic-Midway bulk samples in mid November.

McKenzie Break

At the McKenzie Break gold project (60-40 joint venture with Britannica Resources Corp.) the Authorization permits have been received from the Quebec government allowing underground work to proceed.

Site installation and capital equipment purchases are well underway, and the initial blasting and excavation work for the decline Portal (entrance) has begun.

Callahan Project

Surface diamond drilling on the Callahan gold project, located north of the Malartic-Midway project has also begun.

Michel David, president, states, "The Company has now entered into an acceleration exploration development phase. Underground bulk sampling at the Chabela, Briar and the newly discovered gabbro zone at Malartic-Midway is underway along with exploration diamond drilling and drifting. Underground exploration and development has begun at the McKenzie Break project, and finally surface diamond drilling has begun at the Callahan project. This increase in activity portends well for the Company's future."

Northern Star Mining Joins OTCQX

The Company is also pleased to announce that it is now trading on OTCQX(R) under the symbol: OTCQX: NSMSF

Northern Star Mining Corp. begins trading today on the OTC market's elite tier, OTCQX International. Investors can find current financial disclosure and real-time Level 2 quotes for the company on www.otcqx.com and www.pinksheets.com.

"OTCQX provides Northern Star Mining with a visible market tier to increase U.S. investor awareness, and distinguish themselves from the thousands of other companies traded over-the-counter," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "We are pleased to welcome Northern Star Mining to OTCQX."

Berns & Berns, will serve as Northern Star Mining's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on listing requirements.

Eugene Gauthier, Ing (OIQ), acts as the qualified person of the Company and has reviewed the contents of the news release. The diamond drilling and exploration programs are being carried out under the direct supervision of Eugene Gauthier, Ing (OIQ). The Company is maintaining strict standards for QA (quality assurance) and QC (quality control); by keeping under lock all drill cores, rejects and pulps for further testing. Samples were sent to ALS Chemex and Techni-Lab labs in Val d'Or, Quebec. High grade assays intersections were subject to total gold metallic sieve method in addition to the standard fire assay and AA finish.

ON BEHALF OF THE BOARD

Jonathan Awde, Vice-president, Corporate Finance

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein 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.

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.

Contact Information

  • Northern Star Mining Corporation
    Jonathan Awde
    Vice-president, Corporate Finance
    Toll Free: (800) 460-5031 or (819) 825-8088
    (819) 825-1199 (FAX)
    www.nsmgold.com