Northland Resources S.A.

Northland Resources S.A.

September 12, 2013 04:44 ET

Northland Announces the Appointment of Johan Dagertun as CFO

LUXEMBOURG, LUXEMBOURG--(Marketwired - Sept. 12, 2013) - Northland Resources S.A. (OSLO:NAUR)(FRANKFURT:NPK)(OMX:NAURo) - together with its subsidiaries "Northland", "NRSA" or the "Company") announces that Johan Dagertun will replace Eva Kaijser as Chief Financial Officer ("CFO") on November 15, 2013.

Reference is made to the press release dated July 18, 2013, where Northland announced that CFO, Eva Kaijser, was leaving the Company at the end of 2013. Northland has now appointed Johan Dagertun to replace her. Mr. Dagertun has held various positions in the Company since 2010. His current position in the Company is Deputy COO.

"Johan Dagertun was a natural choice for the Company and I am very glad that he accepted to take on this new role. Johan Dagertun has during challenging times been deeply involved in the work to find a long term financial solution for the Company and in the production ramp-up process at Kaunisvaara. I would also like to take the opportunity to thank Eva Kaijser for her very important contribution to the Company. She played a vital role when the Company managed to find a financial solution in May 2013. For this I am very grateful", said Peter Pernlöf, Acting CEO.

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 and for the Pellivuoma deposit, which is located 15 km from the Kaunisvaara processing plant.

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 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.
    Johan Dagertun
    Deputy COO and Incoming CFO
    +46 703 700 031

    Northland Resources S.A.
    Peter Pernlof
    Acting CEO
    +46 702 202 700

    Northland Resources S.A.
    Jonas Lundstrom
    Senior Vice President
    +46 705 493 338

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