Northern Iron Corp. Appoints Mr. Paul Sarjeant to its Board of Directors
/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE U.S./
VANCOUVER, Oct. 13, 2011 /CNW/ - Northern Iron Corp ("Northern Iron") (TSX-V: NFE) announced today that it has appointed Mr. Paul Sarjeant to its Board of Directors. Mr. Sarjeant has spent over 13 years with Echo Bay Mines, lastly as Senior Geologist, International Exploration Group responsible for project evaluations. Most recently he serves as President & CEO of Grandview Gold.
"The addition of Paul Sarjeant to the Board of Directors is a great step forward," stated Basil Botha, President and CEO of Northern Iron Corp. "The experience Paul brings to the technical team will prove to be an invaluable asset to the company as Northern Iron moves ahead with its project in Ontario."
Mr. Sarjeant is a Professional Geologist who has been involved in mineral exploration and development in North and South America and throughout Africa, Asia and Europe for more than 25 years. Mr. Sarjeant holds a Bachelor of Science (Honours) degree in geological sciences from Queen's University in Kingston, Ontario and is a member of the Association of Professional Geoscientists of Ontario. Mr. Sarjeant also serves as a director/consultant to a number of private and public mining companies.
Mr. Sarjeant will be granted stock options to purchase 200,000 common shares of Northern Iron at an exercise price of $0.30, valid for a period of five years, subject to regulatory approval.
About Northern Iron
Northern Iron is a mineral resource company engaged in reviving a past producing iron mine and concurrent exploration of high quality iron ore resources in the Red Lake mining division, district of Kenora, Ontario, Canada.
Northern Iron holds 100% interest in minerals claims covering approximately 14,672 hectares, comprised of the El Sol Property, the past producing Griffith Property, the Karas Property, the Papaonga Property and the Whitemud-Slate Property.
The Griffith Mine owned at the time by Stelco, produced 78.8million tonnes of iron ore for conversion to pellets and DRI from 1968-1989. Total magnetic iron recovery was 86.26%
The Red Lake area is accessible year round by Highway 105, which joins the Trans Canada highway at Vermillion Bay, 175 km south and 100 km east of Kenora. Commercial air services operate to Red Lake from Thunder Bay, Ontario and Winnipeg, Manitoba
Cautionary Statement
The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved of disapproved the information contained herein.
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