Northland Resources Inc.
FRANKFURT : NBS
OSLO STOCK EXCHANGE : NAUR
TSX : NAU

Northland Resources Inc.

March 03, 2009 08:01 ET

Northland Enters Into Agreement to Study Rail Transport Solutions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2009) - Northland Resources Inc. (Northland) (TSX:NAU)(FRANKFURT:NBS)(OSLO:NAUR) is pleased to announce that it has entered into a Project Agreement with Bombardier Transportation Sweden AB and VR Ltd of Finland. The parties to the Agreement will co-operate in the development of sustainable solutions for the rail transport of iron concentrates. The parties will share in the cost of the work.

The parties will study the feasibility of various rail link options, with the goal of determining which option is the most efficient, environmentally friendly and competitive, and can be implemented in tandem with the development of Northland's iron ore projects.

Each party to the Agreement will provide their own expertise and resources to the studies, and jointly fund any related activities. It has also been agreed between the parties that Railize International AB, a rail consulting firm with Nordic expertise, will be engaged as a consultant and coordinator for these studies.

Karl-Axel Waplan, Northland's Managing Director of European Operations, commented, "These studies will help us determine the best solution for the transport of our iron concentrate to port. Taken together with the study underway on the Port of Kemi, announced February 12th, we are making significant progress in refining our infrastructure plans."

Parties to the Agreement

About Bombardier Transportation

Bombardier Transportation has its global headquarters in Berlin, Germany with a presence in over 60 countries. It has an installed base of over 100,000 vehicles worldwide. The Group offers the broadest product portfolio and is recognized as the leader in the global rail sector.

About Bombardier

A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2008, were $17.5 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes.

Bombardier's ECO4 energy-saving technologies - built on the four cornerstones of energy, efficiency, economy and ecology - help reduce energy consumption while improving Total Train Performance.

About VR Ltd

VR Ltd is a subsidiary of VR Group Ltd. VR Ltd is active in railway traffic and maintenance of rolling stock. VR Group Ltd has a strong position in the Finnish market with respect to railroad transport and infrastructure construction and maintenance.

About Northland (www.northlandresourcesinc.com)

Northland is a well structured, debt-free mining company with a portfolio of high quality iron, gold, and base metal development projects in Sweden and Finland.

ON BEHALF OF THE BOARD

Buck Morrow

NORTHLAND RESOURCES INC.

Contact Information

  • Northland Resources Inc.
    Buck Morrow
    President
    Toll Free: 1-866-719-8962
    or
    Northland Resources Inc. - North America
    Ralph Ruston
    Investor Relations
    Toll Free: 1-866-719-8962
    or
    Northland Resources Inc. - Europe
    Deborah Craig
    Investor Relations
    +46 (0) 70 638 4300
    Website: www.northlandresourcesinc.com