Northland Resources S.A.

Northland Resources S.A.

July 18, 2013 11:15 ET

Upcoming Management Change at Northland

LUXEMBOURG, LUXEMBOURG--(Marketwired - July 18, 2013) - Northland Resources S.A. (OSLO:NAUR) (FRANKFURT:NPK)(OMX:NAURo) First North: NAURo - together with its subsidiaries "Northland" or "the Company") announces that CFO Eva Kaijser is leaving the Company at year-end 2013.

As a consequence of the closure of its Stockholm office, Northland will recruit a new CFO located in Luleå. Eva Kaijser will continue as CFO until the end of 2013/beginning of 2014.

"We regret that Eva has chosen to leave, but we are grateful for both the contributions she has made to the Company and for those she will continue to make during the time she remains working with us. It is beneficial to Northland that we without urgency are able to recruit a replacement," says Acting CEO Peter Pernlöf.

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 produces high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company will 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 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 Lundström
    Senior Vice President
    +46 705 493 338