SOURCE: NT Mining Corporation

January 28, 2011 15:00 ET

NT Mining Provides Corporate Update

LAS VEGAS, NV--(Marketwire - January 28, 2011) - NT Mining Corporation (PINKSHEETS: NTMG) (the Company) provides corporate update on litigation and former press releases.

Property Litigation

The Company has agreed to enter into a settlement agreement to settle the action it commenced on October 22, 2010, in the Supreme Court of British Columbia against Robert Hughes, Hughes Maritime Corp. ("HMC"), Heidi Hughes, Karis Maritime Inc., Palo Verde Investments Corp. and Maple Management Ltd.

The settlement, however, cannot be completed and is not enforceable until the Cease Trade Order, issued by the British Columbia Securities Commission, is rescinded. No closing date for the settlement has been set.

The Company is continuing its search for mineral properties suitable for exploration and development.

Press Releases

As a result of a review by the British Columbia Securities Commission, NT Mining Corporation (the "Company") is issuing the following news release to clarify its disclosure and retract and certain information on the mineralization of the Valentine Mountain and Bullmoose Lake properties disseminated in investor reports and advertisements on its website and in press releases between May 12, 2010 and June 22, 2010.

Valentine Mountain Property

The Company's June 22, 2010 news release, which was disseminated via Marketwire, provided a link to a Grass Roots Research Report. The Company compensated Grass Roots Research for this report, which disclosed current proven reserves in ounces of gold. The Company clarifies that it has not received a current resource estimate for Valentine Mountain. Therefore, the technical report prepared for Mill Bay Ventures Inc., dated March 10, 2008 by Jacques Houle is still current. The Houle report documents a small historical resource estimate in C-Vein at Valentine Mountain.

The Company no longer has any interest in the Valentine Mountain property. The option Agreement the Company entered into to acquire these mineral tenures required the Company to issue 6,500,000 shares from treasury to Mill Bay Ventures Inc. The option has lapsed because the Company's shares were and remain subject to a Cease Trade Order issued by the British Columbia Securities Commission.

Bullmoose Property 

The Company's news release of May 12, 2010 disclosed prohibited gold quantities and grades, applied a non-compliant economic analysis, and treated the estimates as current mineral reserves. The Company clarifies that it has not done a current resource estimate or received a material economic analysis, and retracts its past disclosure of current resources and economic analysis at Bullmoose.

The Company's former website referred to non-compliant or prohibited "ounces of gold recoverable," indicated various quantities and grades of "underground broken ore estimates," and a "reserve" that was "indicated to be left in the mine." The Company clarifies that this disclosure was non-compliant and may be premature. The Company further clarifies that it does not have sufficient information to comment on the reliability of any remaining historical in-mine and stockpile resources at Bullmoose.

The news releases of May 12, 2010, May 17, 2010, May 21, 2010, May 24, 2010, May 27, 2010, and June 3, 2010 disclosed large gold ounce quantities, referred to as "potential reserves." The Company retracts its disclosure of "potential reserves," a classification prohibited by NI 43-101. The Company also clarifies that additional exploration is required to gather sufficient data to estimate quantity and grade ranges of any "exploration targets" or "potential mineral deposits" at Bullmoose.

Disclosure issues similar to the above also occur in reports linked from a May 26, 2010 news release in the "news release section" of the Company's former website. This referenced information about the Company at Microstockprofit.com, and at "penny stock forum" which in turn linked to reports about the Company on www.superstockhunter.com, www.fastprofitstocks.comwww.NABusinessNews.com and www.pennystockpit.com. In addition to the above issues, some of these reports included share price forecasts, gold estimates expressed as a billion dollars worth of gold, and referred to diamond reserves. The reports disclose that they are paid advertisements. The Company cautions that these reports may be misleading and are unreliable, and the Company dissociates itself from these reports.

The Company's news releases of May 12, 2010, May 17, 2010, May 21, 2010, May 24, 2010, May 27, 2010, and its website provide a link to a report on the Bullmoose Property by Mr. M. Mitchell, dated May 6, 2008 (the "2008 Report"). The 2008 Report did not indicate how much the historical resource estimates were depleted by past mining activity, it included new current estimates prohibited by, or not compliant with NI 43-101, it contained improper economic analysis, and relied on Mr. Robert Hughes for stockpile estimates. The Company therefore withdraws the 2008 Report.

The Company's former website disclosed a number of targets indicating the presence of diamonds or kimberlites. This information does not comply with NI 43-101 and is therefore retracted.

All previously disclosed resource or reserve estimates, including any historical quantity and grade estimates, whether contained in disseminated materials, information accessible on the internet or in information which is otherwise been made publicly available, are historical in nature and should not be relied upon until verified and supported by an Independent National Instrument 43-101 compliant Technical Report.

Safe Harbor Statement:
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 -- forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at NT Mining Corp.'s stage of development. All such forward looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information