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Northern Shield Triples Size of Huckleberry Property and Provides Exploration Update; Exercise of Warrants Nets $100,000
Northern Shield Triples Size of Huckleberry Property and Provides Exploration Update; Exer...
About this update from Northern Shield Resources Inc.
[{"type":"text","content":"\n\n\n\nNorthern Shield Triples Size of Huckleberry Property and Provides Exploration Update; Exercise of Warrants Nets $100,000\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNorthern Shield Triples Size of Huckleberry Property and Provides Exploration Update; Exercise of Warrants Nets $100,000\nCanada NewsWire\nOTTAWA, May 11, 2016\n\n\n\nOTTAWA, May 11, 2016 /CNW/ - Northern Shield Resources Inc. (\"Northern Shield\" or the \"Company\") (TSX-V: NRN) is pleased to announce that 2,000,000 warrants issued as part of the Private Placement announced on April 7th and April 12th have been exercised at a price of $0.05 for proceeds of $100,000.  The Common Shares issued on exercise of the Warrants are still subject to a hold period ending four months from the date of original issuance.  \n\nNorthern Shield is also pleased to announce that it has substantially increased the size of its Huckleberry Cu-Ni-PGE property from 57 claims to 159. Northern Shield will undertake a field visit to the Huckleberry property at the end of May immediately followed by the commencement of exploration at the beginning of June. The exploration program as currently planned will include 2-3 weeks of outcrop sampling at Huckleberry followed by an airborne EM survey over Huckleberry and the recently acquired Séquoi property located 10 kilometer east of Huckleberry. The airborne EM survey will be used to guide diamond drilling planned for later on in the year.  Both properties are currently owned 100% by Northern Shield. However, Northern Shield is in the concluding stages of an agreement with a third party interested in an option on one of these properties. Northern Shield will provide further details regarding exploration on these properties this summer and any agreement concluded with such party on these properties in due course and when available.\n\n\"We are pleased with the early exercise of some recently issued warrants which shows confidence in our southern Labrador Trough projects,\" states Northern Shield President and CEO, Ian Bliss. \"We are eager to get back on the gr...