Northern Abitibi Mining Corp.
TSX VENTURE : NAI
March 25, 2009 12:44 ET
Northern Abitibi Issues Shares as Property Payment
CALGARY, ALBERTA--(Marketwire - March 25, 2009) - Northern Abitibi Mining Corp. ("Northern Abitibi") (TSX VENTURE:NAI) pursuant to the terms of the Taylor Brook Property Agreement with Altius Resources Inc. ("Altius") can earn a majority interest in the Taylor Brook project from Altius by making staged share and cash payments and funding exploration over a period of 4 years. On March 19, 2009, Northern Abitibi must make a property payment of $50,000 or the equivalent market value of fully paid shares of Northern Abitibi. Northern Abitibi has elected to issue shares in lieu of a cash payment and upon receipt of regulatory approval has issued a total of 476,190 common shares to Altius.
Northern Abitibi's technical team of experienced, professional geologists are assembling a portfolio of gold, nickel and other base metal projects from opportunities within Canada, Mexico and the United States. Northern Abitibi can earn a majority interest in the Taylor Brook project from Altius Resources Inc. by making staged share and cash payments and funding exploration over a period of 4 years. A description of the Taylor Brook project is available on our website (www.naminco.ca).
Dr. Shane Ebert, P.Geo., is the Qualified Person responsible for the preparation of this news release.
Shane Ebert, President/Director
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 Abitibi's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern Abitibi. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern Abitibi'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 Abitibi's filings with the Canadian securities authorities. Accordingly, holders of Northern Abitibi shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern Abitibi 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.