Northern Gold Mining Inc.

Northern Gold Mining Inc.

February 26, 2014 08:05 ET

Northern Gold Intersects 4.76 g/t Over 7.1m at Garrison

TORONTO, ONTARIO--(Marketwired - Feb. 26, 2014) - NORTHERN GOLD MINING INC. (TSX VENTURE:NGM) ("Northern Gold" or the "Company") is pleased to release assay results from 6 diamond drill holes targeting the 903 zone at the Garrison Gold Property. This represents the Company's first diamond drilling program at the 903 zone since acquiring the western strike extension of the zone from Lac Properties (Subsidiary of Barrick Gold Corp) in September, 2013. The 903 zone lies in the southwestern section of the Garrison Gold Property of the Golden Bear Project, 100 km east of Timmins, Ontario. The 6 drill holes totaled 1914m.

Assay highlights from the drill holes include:

  • 3.21 g/t Au over 3.6m (311.5-315.1m) 903-13-04
  • 4.67 g/t Au over 7.1m (34.9 to 42.0m) 903-13-05
  • 3.21 g/t Au over 8.0m (312.0 to 320.0m) 903-13-05
  • 2.60 g/t Au over 17.0m (58.0 to 75.0m) 903-13-06

The 903 zone have been the subject of exploration dating to the 1940s and to date over 50 drill holes have traced the zone along 720m of strike length. Viewed as a bulk tonnage open pit and underground exploration target, the 903 zone shows considerable width of medium grade gold mineralization and favourable geology. Parallel zones of shallow mineralization could allow for the definition of resources suitable for open pit mining however the Company cautions that there is a risk further exploration will not result in the delineation of a NI 43-101 compliant resource.

The zone is principally hosted in linear syenite dykes hosted within the Destor Porcupine Fault Zone and exhibit similarities to other syenite hosted ore bodies in the Abitibi Gold belt. Peripheral mineralized zones hosted in Temiskaming type metasediments are similar to the bulk tonnage Garrcon deposit located 1 km to the east.

The 6 drill holes from 2013 have tested the zone along a 550m strike length with several drill intercepts on the recently acquired Lac Minerals property. The zone remain open at depth and along strike.

Martin Shefsky, Interim President and CEO of Northern Gold, comments: "While additional diamond drilling will be necessary the 903 zone show significant exploration upside for the Garrison property and additional work is being planned for 2014."

Table 1 - 903 Zone Assay Results * - These results are significant drill assays from 6 drill holes on the 903 Zone.

Hole Sub-Zone Section From
Au g/t
903-13-01 Syenite 24+50W 86.0 87.0 1.0 1.50
309.0 312.0 3.0 1.51
903-13-02 N/A 24+50W Hole Incomplete at 99m
903-13-03 Hastings South 25+00W 93.0 97.0 4.0 1.30
Syenite 115.0 116.0 1.0 2.19
130.0 131.0 1.0 1.86
138.0 139.0 1.0 1.21
322.0 331.0 11.0 1.71
330.2 331.0 0.8 9.49
903-13-04 Syenite 29+50W 234.0 241.0 7.0 0.95
North Metasediment 311.5 315.1 3.6 3.21
903-13-05 South Metasediment 28+50W 34.9 42.0 7.1 4.65
38.0 39.0 1.0 9.75
48.0 57.0 9.0 0.68
Syenite 260.4 263.8 3.4 0.92
Syenite 312.0 320.0 8.0 3.21
318.0 319.0 1.0 8.53
903-13-06 Syenite 30+00W 58.0 75.0 17.0 2.60
64.0 65.0 1.0 10.10

*No Assays required top cut of 34.28 g/t

Quality Assurance/Quality Control

Northern Gold has implemented comprehensive, industry standard quality-assurance, quality-control protocols for diamond drilling, core recovery, handling, sampling, shipping and assaying. Gold assays were completed by SGS Mineral Services through fire assay procedures (FAI323 and FAG303). Details of these best practice principals can be viewed on the Company's website at:

The technical aspects of this press release have been reviewed and approved by Michael Gross, M.Sc., P.Geo., the "Qualified Person" as defined by National Instrument 43-101 for the Golden Bear Project.

About Northern Gold

Northern Gold is a TSXV-listed gold company based in Toronto, Ontario. The Company's main focus is the exploration and development of its prospective mineral properties at the Golden Bear Project in the Larder Lake Mining Division, northeastern Ontario. Northern Gold has a portfolio of advanced exploration projects, including the Jonpol and Garrcon Deposits and the Buffonta Property. Recent transactions, including the amalgamation with Victory Gold Mines Inc. and acquisition of the Lac Minerals Property add to the Company's regional consolidation strategy along the Destor-Porcupine Fault Zone.

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking statements are characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, Northern Gold's strategic partnership and issuances of securities, and is based on, among other things, the opinions and assumptions of management considered reasonable as of the date of this news release. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required regulatory approvals, changes in equity markets, fluctuations in commodity prices, and other risks involved in the mineral exploration and development industry, including those risks set out in Northern Gold's public documents filed on SEDAR. Although Northern Gold believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Northern Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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