Northern Star Mining Corporation
TSX VENTURE : NSM

Northern Star Mining Corporation

March 21, 2006 12:06 ET

Northern Star Joint Venture Agreement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2006) - Northern Star Mining Corporation (TSX VENTURE:NSM) (the "Company") is pleased to announce that it has entered into an option and joint venture agreement with Britannica Resources Corp. on 55 mineral claims on two properties (Malartic Break and Revillart) located in Malartic Township, Quebec.

Under the terms of the agreement, Britannica Resources Corp. must issue 500,000 common shares to Northern Star Mining, and then spend 1.5 million dollars of exploration expenditures over a four year period, to earn a 50 % interest in the two claim groups, after which a joint venture will be formed with each party contributing its share of approved expenses.

The Revillart claim group consists of 21 claims (880 hectares) in Blake River volcanics immediately north of the Kewagama/Malartic group contact. A 40 foot deep exploration shaft was sunk on the property in 1936 with reported diamond drilling revealing cabonatized zones up to 60 feet thick with pyrite and pyrrhotite mineralization. Quartz veins carrying visible gold are also reported (M.R.N. G.R #20 1949). The property is also located less than 3 km east of Agnico Eagle's new LAPA gold mine.

The Malartic claim group consists of 14 claims comprising 595 hectares, 4 km north of the town of Malartic, located on the Kewagama/Malartic contact, a major feature north of the Cadillac tectonic zone. Numerous gold deposits in the immediate area are associated with this contact, the most notable being the post producing Camflo mine (2 millions produced from 1961 to 1992), located 5 km east along strike of the property. The transaction is subject to regulatory approval.

ON BEHALF OF THE BOARD

Michel David, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Northern Star Mining Corporation
    Michel David
    Director
    (819) 825-8088
    (819) 825-1199 (FAX)
    www.nsmgold.com