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

Northland Resources Inc.

June 19, 2008 03:02 ET

Northland Resources Retracts Results of Preliminary Economic Assessment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2008) - Northland Resources (TSX:NAU)(FRANKFURT:NBS)(OSLO:NAUR) -

While preparing to respond to investor feedback regarding the recently published Preliminary Economic Assessment (PEA) on its iron ore projects, the Company discovered an error in the financial model developed by its consulting engineers which may affect the revenue calculations in the PEA. The effects of the error on the conclusions of the study have not been fully determined.

The consulting engineers are presently reviewing and revising the model and when that has been completed a revised report will be published. Investors should therefore not rely on the results of the PEA published in Northland's press release dated June 17, 2008.

In light of this issue, the company has also cancelled the teleconference scheduled for 9am Pacific Time, 6pm Oslo Time and 5pm London, UK time to discuss the PEA. The call will be rescheduled after the revised report has been published.

ON BEHALF OF THE BOARD

Ralph Rushton

NORTHLAND RESOURCES INC.

The Toronto Stock Exchange has neither approved nor disapproved the contents of this news release.

Contact Information

  • Northland Resources Inc.
    Buck Morrow
    President
    (303) 663-7829
    or
    Northland Resources Inc.- North America
    Ralph Rushton
    Toll Free: 1-866-719-8962
    or
    Northland Resources Inc.- Europe
    Jonas Lundstrom
    +46 70 54 93 322
    Website: www.northlandresourcesinc.com