Northern Abitibi Mining Corp.
TSX VENTURE : NAI

Northern Abitibi Mining Corp.

April 21, 2011 09:00 ET

Northern Abitibi Receives 2011 Exploration Permits and Signs Drill Contract

CALGARY, ALBERTA--(Marketwire - April 21, 2011) - Northern Abitibi Mining Corp. (TSX VENTURE:NAI) ("Northern Abitibi") is pleased to announce it has received exploration permits and has signed a drill contract for its 2011 exploration program at the company's wholly owned Viking gold property in Newfoundland.

The 2011 exploration program will include a property scale induced polarization – resistivity geophysical survey, 3500 to 4000 metres of diamond drilling, additional trenching, mapping, surface sampling and possibly metallurgical and bulk sampling studies. The goal of this program will be to maximize high grade resources along the Thor Trend and identify additional areas on the claim block where resources can be defined.

Infill and expansion drilling on the Thor Trend is expected to start mid-May with one drill rig. This drilling will focus on expanding the known high grade gold shoots. Northern Abitibi plans to add a second drill to the project in June subject to availability of drills and drill crews. This drill will be used to explore the Thor Trend at depth and test additional targets on the property.

The Viking Property - The Viking Property contains numerous high grade veins within larger bulk tonnage style zones of gold mineralization located within a 3 to 4 kilometre long gold-in-soil anomaly. Drilling highlights include high grade intercepts of 5.75 metres grading 33.7 g/t gold, 3.7 metres grading 50.1 g/t gold, 0.5 metres grading 218.8 g/t gold as well as lower grade intercepts including 27 metres grading 7.9 g/t gold, 23.0 metres grading 5.1 g/t gold, and 57.4 metres grading 2.8 g/t gold. The Thor Trend contains an uncut Inferred Mineral Resource containing 131,511 ounces of gold. Northern Abitibi has a 100% property interest in the Viking project subject to a 2% to 4% sliding scale net smelter royalty held by Altius Resources. The Property is located in the mining friendly jurisdiction of Newfoundland and Labrador, and has excellent access and local infrastructure, with a paved highway and power line located less than one kilometre from the project. A detailed description of the Viking project is available on our website (www.naminco.ca).

Options - Northern Abitibi has granted stock options under its Stock Option Plan to two consultants to purchase up to 75,000 common shares at an exercise price of $0.12 per share for a period of three years commencing on April 20, 2011.

Technical Report - The Corporation expects to receive a technical report next week detailing the March 2011 resource estimate for Viking which will then be filed on Sedar (www.sedar.com).

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.

Contact Information

  • Northern Abitibi Mining Corp.
    Shane Ebert
    1.250.964.2699

    Northern Abitibi Mining Corp.
    Jean Pierre Jutras
    1.403.233.2636
    www.naminco.ca