Northern Gold Mining Inc.

Northern Gold Mining Inc.

March 06, 2009 12:14 ET

Northern Gold Mining Inc. Announces Completion of Rights Offering

TORONTO, ONTARIO--(Marketwire - March 6, 2009) - Northern Gold Mining Inc. (TSX VENTURE:NGM) announces completion of the rights offering to holders of Common Shares announced on January 30, 2009. Northern Gold issued to holders of its common shares as of record at the close of business on February 10, 2009 transferable rights certificates to subscribe for common shares before 4:00 p.m. (Toronto time) on March 3, 2009 on the terms set out in a rights offering circular dated January 22, 2009 (the "Rights Offering Circular"). The Rights Offering Circular is available on the SEDAR website at One right (a "Right") was issued for each four common shares outstanding and one Right permitted the shareholder to purchase one common share (a "Share") for $0.05 per Share. A total of 4,392,647 rights were exercised for total proceeds of $219,632.35. Northern Gold intends to use the proceeds for working capital purposes.

Northern Gold Mining Inc. is a Toronto-based junior resource company dedicated to gold exploration in the proven mining camps of Kirkland Lake and Timmins in Northern Ontario. The goal of our experienced and highly-skilled management team is to maximize shareholder value through successful exploration and the aggressive testing of high quality targets.

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Northern Gold Mining Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Northern Gold Mining Inc.'s expectations are the risks detailed herein and from time to time in the filings made by Northern Gold Mining Inc. with securities regulators.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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