Northern Gold Mining Inc.
TSX VENTURE : NGM

Northern Gold Mining Inc.

January 18, 2011 09:05 ET

Northern Gold Retains Moelis & Company as Financial Advisor

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2011) - Northern Gold Mining Inc. (TSX VENTURE:NGM) ("Northern Gold" or the "Company") is pleased to announce that it has retained Moelis & Company to serve as its financial advisor in connection with the Company's strategic development options for the Garrison Gold Property.

"This strategic relationship will greatly benefit Northern Gold as we aggressively advance the Garrison Gold property with the ultimate goal of developing a large open pit mine. With its strong track record of advising clients on many of the largest and most complex transactions, we are confident that Moelis & Company will provide strategic and financial advisory expertise to enable us to extend our network and grow our company for many years to come," said Martin Shefsky, President and CEO of Northern Gold. 

"We are very excited to have the opportunity to work with Northern Gold's management and Board of Directors to provide strategy advice and financial advisory services as Northern moves forward with the development of the Garrison Gold Property," said Mark Henkels, Managing Director of the Metals & Mining group at Moelis & Company.

About Moelis & Company

Moelis & Company, recently named Best Global Independent Investment Bank by Euromoney, is a global investment bank that provides financial advisory, capital raising and asset management services to a broad client base including corporations, institutions and governments. With over 460 employees, Moelis & Company serves its clients through offices in New York, Boston, Chicago, London, Los Angeles and Sydney. For more information, please visit www.moelis.com.

About Northern Gold Mining

Northern Gold Mining Inc. is a TSX-V listed, publicly traded junior resource company based in Toronto, Ontario, dedicated to the discovery and development of high value mineral deposits in the proven mining camps of Kirkland Lake and Timmins in North Eastern Ontario. Northern Gold is focused on developing two advanced stage gold deposits on the Garrison Gold Property. The Property is located within the Abitibi greenstone belt along the Porcupine-Destor and the Munro Fault systems. The Property hosts several gold mineralized showings in addition to the two advanced stage exploration targets, the Jonpol and Garrcon Deposits, for each of which NI 43-101 compliant mineral resources have been calculated, and the less advanced 903 gold mineralized area. Historic diamond drilling by previous operators was completed in all three referenced areas. The Jonpol Technical Report was posted on SEDAR October 21, 2009 and the Garrcon Technical Report was posted on SEDAR November 5, 2010. The Garrison Gold Property has historic mining infrastructure at both the Jonpol and Garrcon Deposits and producing mines are located in close proximity to the property. The Company is in the second year of an option agreement under which it may earn up to an 80% interest in the Garrison Gold Property from ValGold Resources Ltd. ("ValGold") (TSX VENTURE:VAL). For more information on the option agreement, please see the Company's news release dated 14 September 2009.

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. 

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 the information contained herein.

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