Northern Abitibi Mining Corp.

Northern Abitibi Mining Corp.

August 05, 2005 10:42 ET

Northern Abitibi Increases Land Position at Silver Park, Nevada

CALGARY, ALBERTA--(CCNMatthews - Aug. 5, 2005) - Northern Abitibi Mining Corp. (TSX VENTURE:NAI) ("Northern Abitibi") is pleased to announce the optioning of 30 unpatented mining claims (250 Hectares) surrounding its recently acquired Silver Park property (NR 05-03) in the Atlanta Mining District, Nevada.

Northern Abitibi's land position at Silver Park has been increased to a total of 274.69 hectares to cover several zones of alteration and mineralization, the largest of which exceeds 800 meters in length by 50 to 250 meters in width. At Silver Park structurally and stratigraphically controlled zones of alteration and mineralization are associated with silicified zones in Paleozoic carbonate rocks and Tertiary volcanic rocks. The property covers past producing high-grade underground mines plus a partially delineated zone of near-surface disseminated mineralization.

Northern Abitibi's wholly owned Nevada subsidiary NAMCOEX Inc. can earn a 100% interest in the 30 unpatented claims by making staged payments to the vendor, Hot Spring Gold Corporation, totaling $80,981 US over 5 years. The initial payment for the current year is $13,981 US which represents a flow through of claim retention expenses to date. The property vendor will retain a 3.0% Net Smelter Royalty, 1.5% of which is purchasable at Northern Abitibi's election for $750,000.00 US. The President of Hot Spring Gold Corporation is also a director of Northern Abitibi and the President of NAMCOEX Inc., and the agreement is not an arm's length transaction. The acquisition is not subject to a finders fee.

There is a map available on CCNMatthews' website at

"James Devonshire"

James Devonshire

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Northern's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Northern's filings with the Canadian securities authorities. Accordingly, holders of Northern shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern disclaims any responsibility to update these forward-looking statements.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Northern Abitibi Mining Corp.
    James Devonshire
    (403) 233-2636