Northern Star Mining Corporation

Northern Star Mining Corporation

March 08, 2005 09:39 ET

Northern Star Announces $4,500,000 Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NORTHERN STAR MINING CORPORATION

TSX VENTURE SYMBOL: NSM

MARCH 8, 2005 - 09:39 ET

Northern Star Announces $4,500,000 Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2005) - Northern
Star Mining Corp. (TSX VENTURE:NSM) (the "Company") is pleased to
announce it has engaged a syndicate of agents consisting of Canaccord
Capital Corporation and Octagon Capital Corporation (collectively, the
"Agents") pursuant to which the Agents will conduct a private placement
offering of up to ten million units (10,000,000) at a price of $0.45 per
unit, for gross proceeds of $4,500,000 on a commercially reasonable
efforts basis. Each unit consists of one common share of the Company and
one half of a non-transferable share purchase warrant. One warrant shall
entitle the holder thereof to purchase one additional common share of
the Company for a period of eighteen months from the closing date at a
price of $0.55.

The Agents will be paid a commission of 7% of the gross proceeds of the
offering and will be issued Agents' warrants equal to 10% of the number
of units sold.

The financing proceeds will be used for working capital and exploration
on the Company's Midway Project. Completion of the financing is subject
to regulatory approval.

ON BEHALF OF THE BOARD

Michel David, President

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Northern Star Mining Corporation
    Michel David
    President
    (819) 825-8088 or Toll Free: 1-800-460-5031
    (819) 825-1199 (FAX)
    www.nsmgold.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.