Northland Resources S.A.
OSLO : NAUR
FRANKFURT : NPK
OMX : NAURo

Northland Resources S.A.

November 28, 2013 03:23 ET

Northland Announces Management Changes

LUXEMBOURG, LUXEMBOURG--(Marketwired - Nov. 28, 2013) - Northland Resources S.A. (OSLO:NAUR)(FRANKFURT:NPK)(OMX:NAURo) - together with its subsidiaries "Northland", "NRSA" or the "Company") announces changes in the management team whereby the previous role of CFO is separated in two new positions. Krister Winsa is appointed Vice President, Accounting & Tax while Johan Dagertun assumes the position as Vice President, Financing & Business Control.

This change is implemented to strengthen the Company's capabilities in two important areas. Johan Dagertun continues to focus on the current funding activities while Krister Winsa will assume responsibility for Northlands financial reporting and accounting.

Jukka Jokela, Vice President for Exploration and Finnish Operations has decided to leave Northland after several years of dedicated contributions to the Company.

Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara project is complete and production ramp-up started in November 2012. The Company expects to produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company expects to exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara project over the next seven to ten years. The Company is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland.

Forward-Looking Information

This announcement may include "forward-looking" information within the meaning of applicable securities laws. This forward-looking information can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. This forward-looking information includes all matters that are expectations concerning, among other things, Northland's ability to meet its continuous disclosure and MCTO obligations, the likelihood of Northland rectify its default under Canadian Securities laws, Northland's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking information involves risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking information is not a guarantee of future performance and that Northland's actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, even if Northland's results of operations, financial condition and liquidity, and the development of the industry in which Northland operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

Contact Information

  • Northland Resources S.A.
    Jonas Lundstrom
    Senior Vice President Corporate Communication
    +46 705 49 33 38

    Northland Resources S.A.
    Petter Brunnberg
    Investor Relations
    +46 727 24 41 09
    www.northland.eu