Northern Abitibi Mining Corp.

Northern Abitibi Mining Corp.

January 31, 2017 09:30 ET

Northern Abitibi Sells Douay Royalty for $325,000

CALGARY, ALBERTA--(Marketwired - Jan. 31, 2017) - Northern Abitibi Mining Corp. (TSX VENTURE:NAI) ("Northern Abitibi or the Company") is pleased to announce it has sold its 1.5% Net Smelter Returns ("NSR") Royalty from the Douay Gold Project in Quebec to Aurvista Gold Corporation for total cash consideration of C$ 325,000.

The NSR Royalty sold covered 32 contiguous mining claims located in the north-central quadrant of the Douay District in an area known as the Northwest Zone. Northern Abitibi no longer has any claims or royalty interest in the Douay district.

Proceeds from the sale significantly strengthen the Company's financial position, and will be used to evaluate new opportunities and avenues for growth.

Shane Ebert, President/Director

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

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.

Contact Information

  • Northern Abitibi Mining Corp.
    Shane Ebert

    Northern Abitibi Mining Corp.
    Jean Pierre Jutras