NioGold Mining Corporation
TSX VENTURE : NOX

NioGold Mining Corporation

January 09, 2007 11:28 ET

NioGold Cuts Significant Gold Confirming Near Surface Potential at Norlartic and Kierens

VAL-D'OR, QUEBEC--(CCNMatthews - Jan. 9, 2007) - NioGold Mining Corporation (TSX VENTURE:NOX) ("NioGold") reports on the 2006 diamond drilling program on the Marban Mine Block property, located in the Malartic Gold Mining Camp, Quebec. The 2006 drilling program (63 holes for 10,000 metres) tested 6 separate gold zones on the property, namely the Norlartic North-North, North and Main Zones, the Kierens Zone, the Gold Hawk Zone, and the Marban Mine.

Highlights:

- Assay results were received for 10 holes completed in late fall to further investigate the near surface potential of the Norlartic Main Zone and the Kierens Zone, located along the Norbenite Shear;

- Past mine production from the Norlartic and Kierens Mines amounted to 260,000 ounces of gold (Aur Resources Inc. and MRNFQ files);

- Gold mineralization is generally found closely associated with a swarm of altered and mineralized intrusive dykes cross-cutting the Norbenite Shear;

- Two (2) holes (NL-06-035 and NL-06-036) investigated the west extent of the Norlartic Main Zone above -125 metres depth;

- Eight (8) holes (FC-06-001 to FC-06-008) tested the upper extent of the Kierens Zone above the mine workings, from surface to a depth of 135 metres;

- All 10 holes intersected thick, up to several tens of metres wide, gold mineralized sections that include higher-grade intervals in 5 of the 10 holes;

- Best intersections in grams per tonne gold (g/t Au) over core length metres (m) are:

-- 30.39 g/t Au over 1.3 m and 7.75 g/t Au over 1.2 m (NL-06-035),

-- 5.71 g/t Au over 5.5 m, including 14.79 g/t Au over 1.2 m (NL-06-036),

-- 2.53 g/t Au over 19.3 m, including 9.96 g/t Au over 1.0 m and 8.96 g/t Au over 2.0 m (FC-06-002), and

-- 9.77 g/t Au over 6.3 m, including 19.59 g/t Au over 1.8 m (FC-06-004);

- Results at a 1 g/t gold cut-off (except for FC-06-001) are tabulated in an appended table;

- Results for 15 holes completed on the Gold Hawk Zone will be released as soon as complete assay results are received.

NioGold is moving forward with mineral resource estimations of the Norlartic Main Zone and Kierens Zone with an emphasis on evaluating the lower grade bulk tonnage potential across the Norbenite Shear. The resources will be estimated using historic and NioGold drill holes. For this purpose, NioGold has re-sampled a total of 47 historic drill holes (20%) in the zones. Independent consultants Mine Development Associates of Reno, Nevada, have been mandated to carry out the resource estimates compliant with National Instrument 43-101. As previously disclosed (refer to the October 12, 2006 press release) Aur Resources had reported in 1993 un-mined mineral inventories of 252,197 tonnes grading 5.11 g/t gold (41,422 ounces of gold) located east of the Norlartic Mine shaft and 261,269 tonnes grading 4.80 g/t gold (40,320 ounces of gold) located below the 1300-foot level (-395 metres) at the Kierens Mine. These historic mineral resources were estimated prior to the implementation of NI 43-101 regulations and should not be relied upon. These historic resources did not include the shallow gold mineralization defined at Kierens and the west extent of the Main Zone at Norlartic targeted by the 2006 drilling completed by NioGold.

Quality Assurance and Quality Control

Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes for the mineralized zones. The core was logged and mineralized sections were sawed in half. Sample lengths varied between 0.5 to 1.5 metres. The half core samples were bagged, sealed and were delivered by NioGold personnel for gold assaying to Bourlamaque Assay Laboratories Ltd. in Val-d'Or, Quebec. Bourlamaque Assay Laboratories is an independent assay laboratory that maintains an internal quality control program and participates annually in CANMET round-robin proficiency testing. 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 to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards in the sample batches sent to laboratory and re-assaying from the remaining coarse reject fractions by the fire-assay method with a gravimetric finish for samples returning values over 2 g/t gold.

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 Mine Block located in the Malartic and Val-d'Or Mining Camps, 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 Mine Block encompasses three former gold producers, namely Norlartic, Kierens (First Canadian), and Marban Mines that collectively produced 592,265 ounces of gold (Aur Resources Inc. and MRNFQ files).

NioGold's experienced and qualified technical team will ensure the successful advancement of the Company's projects towards the highest quality mineral resources. The exploration programs are conducted under the supervision of Rock Lefrancois, P. Geo. (OGQ), the Company's Vice-President Exploration, and Qualified Person as defined by NI 43-101.

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.



Norbenite Shear 2006 Drilling Results
(1 g/t gold cut-off)

Line Station Depth
Hole # (ft) (ft) Az Dip (m)

NL-06-035 13+00 W 01+05 N 209 degrees -74.2 degrees 86.5



NL-06-036 12+00 W 02+50 N 242 degrees -62.7 degrees 140.6



FC-06-001 37+00 W 04+00 N 212 degrees -51.9 degrees 119.6

FC-06-002 38+00 W 04+50 N 208 degrees -64.7 degrees 176.4



FC-06-003 36+00 W 05+50 N 211 degrees -59.1 degrees 236.7




FC-06-004 36+00 W 03+50 N 212 degrees -57.4 degrees 135.7



FC-06-005 37+00 W 02+10 N 210 degrees -61.9 degrees 56.5


FC-06-006 38+00 W 02+00 N 211 degrees -67.8 degrees 65.1


FC-06-007 34+00 W 04+33 N 217 degrees -65.2 degrees 191.5


FC-06-008 34+00 W 03+65 N 213 degrees -50.0 degrees 107.2


Core
Mineralized From To Length Grade
Hole # Zone (m) (m) (m) (g/t gold)

NL-06-035 Norlartic Main 18.0 23.5 5.5 2.88
including 21.2 22.4 1.2 7.75
47.0 48.3 1.3 30.39

NL-06-036 Norlartic Main 63.6 69.1 5.5 5.71
including 67.9 69.1 1.2 14.79
89.0 95.3 6.3 2.05

FC-06-001 Kierens 88.0 97.7 9.7 0.53

FC-06-002 Kierens 124.0 143.3 19.3 2.53
including 131.2 132.2 1.0 9.96
including 138.0 140.0 2.0 8.96

FC-06-003 Kierens 126.0 128.8 2.8 3.09
144.6 159.5 14.9 1.86
171.4 177.5 6.1 2.75
including 174.9 175.8 0.9 6.53

FC-06-004 Kierens 62.7 69.0 6.3 9.77
including 62.7 64.5 1.8 19.59
including 66.5 68.0 1.5 14.91

FC-06-005 Kierens 19.0 51.5 32.5 1.15
including 25.7 33.0 7.3 2.45

FC-06-006 Kierens 18.4 20.2 1.8 4.68
35.8 46.00 10.2 2.44

FC-06-007 Kierens 131.0 135.0 4.0 1.45
148.5 155.2 6.7 1.50

FC-06-008 Kierens 67.4 68.4 1.0 1.97


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Coal Harbor Communications
    Dale Paruk
    (604) 662-4505
    (604) 662-4547 (FAX)
    Email: dale@coal-harbor.com
    or
    Coal Harbor Communications
    Suite 701, 555 Jervis Street
    Vancouver BC Canada V6E 4N1
    or
    NioGold Mining Corporation
    Jacques Brunelle
    Investor Relations
    (819) 856-1387
    Email: jbrunelle@niogold.com
    Website: www.niogold.com