NioGold Mining Corporation

NioGold Mining Corporation

December 19, 2006 09:29 ET

NioGold Intersects More Gold Near Marban Mine

VAL-D'OR, QUEBEC--(CCNMatthews - Dec. 19, 2006) - Michael Iverson, President and CEO of NioGold Mining Corporation ("NioGold") (TSX VENTURE:NOX) is pleased to update the 2006 diamond drilling program on the Marban Mine Block, located in the Malartic Gold Mining Camp, Quebec.

Complete assay results were received for the initial two holes (MB-06-001 and MB-06-002) drilled to investigate the prospective Marban Mine Sequence, host to the past producing Marban Mine. As reported in a press release dated November 22, 2006, NioGold hole MB-06-001 cut a near surface thick sulphide mineralized zone from 64.5 to 122.8 metres downhole (58.3 metres core length) well above the Marban Mine workings and within units similar to the Marban Mine Sequence. The mineralized zone returned gold values averaging 3.62 grams per tonne (g/t) gold over 26.4 metres including a higher grade core of 7.53 g/t gold over 7.0 metres or 10.77 g/t gold over 4.0 metres.

Hole MB-06-001 cut a second thick sulphide mineralized zone between 461.8 to 511.1 metres downhole (49.3 metres core length) along the down-dip extent of the Marban Mine Sequence. This second zone returned gold values averaging 1.30 g/t gold over 43.0 metres or 2.10 g/t gold over 16.0 metres including 6.87 g/t Au over 2.0 metres.

Hole MB-06-002, drilled from the same location as hole MB-06-001 and to a depth of 149.6 metres confirmed the near surface gold mineralization cut by hole MB-06-001 returning 5.83 g/t gold over 3.2 metres or 8.02 g/t gold over 2.2 metres.

Marban Mine Area Drilling Results

Minera- Core Grade
Depth lized From To Length (g/t
Hole # Az Dip (m) Zone (m) (m) (m) gold)

MB-06-001 170 -85 618.0 Zone 1 96.6 123.0 26.4 3.62
degrees degrees
including 100.6 107.6 7.0 7.53
including 102.6 106.6 4.0 10.77
including 117.6 120.6 3.0 5.43
Zone 2 467.0 510.0 43.0 1.30
including 494.0 510.0 16.0 2.10
including 508.0 510.0 2.0 6.87

MB-06-002 180 -70 149.6 Zone 1 108.3 111.4 3.2 5.83
degrees degrees
including 108.3 110.5 2.2 8.02

From 1961 to 1974, the Marban Mine produced 2.0 million tonnes of ore at an average grade 5.27 g/t gold, yielding over 330,000 ounces of gold (Marban Gold Mines and MNRQ files). The Marban Mine displays a comparable style of gold mineralization as the large S-50 Zone at the Kiena Mine Complex, located 5 kilometres on strike to the southeast. Mine production from the S-50 Zone (1981-2002) amounted to 10.7 million tonnes grading 4.75 g/t gold yielding 1.56 million ounces of gold (Wesdome Gold Mines).

Compilation of historic mine and drill hole data indicate that the prospective Marban Mine Sequence has the potential to host significant gold mineralization near surface and downdip from the mine workings. Initial drilling by NioGold has highlighted the potential for thick bulk-style disseminated gold mineralization surrounding a higher-grade core. Orientation geophysical surveys are presently being conducted over the Marban Mine area in order to outline near surface mineralization. NioGold is planning a large scale drilling program to investigate the Marban Mine area in the goal of delineating a gold deposit of similar tonnage as the large S-50 Zone at Kiena.

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 the Kierens (First Canadian), Norlartic and Marban Mines that collectively produced 592,265 ounces of gold (Aur Resources Inc. and MRNFQ files).

NioGold has completed 63 diamond drill holes in 2006 on the Marban Mine Block. Complete assay results from 10 confirmation holes in the historic resources of the Kierens and Norlartic Zones and 15 shallow holes within the Gold Hawk high-grade vein system are pending. These results will be release in January, 2007.

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 National Instrument 43-101.

Quality Assurance and Quality Control

The 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. Samples were assayed by the fire-assay method 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 a systematic re-assaying from the remaining coarse reject fractions by the fire-assay method for samples returning values greater than 2 g/t gold.

NioGold invites you to visit the company website at

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.

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

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