Mar. 1, 2011 (Canada NewsWire Group) --
Mac Watson Joins Advisory Team
OTTAWA, March 1 /CNW/ - Northern Shield Resources Inc. ("Northern Shield") (TSX-V: NRN) and Discovery Harbour Resource Corp. ("Discovery Harbour") are pleased to announce that drilling has commenced on Northern Shield's Wabassi Property in northern Ontario. Six drill-holes, totaling 1500 meters, are currently planned. Drilling will test VTEM anomalies "E and "C" and two larger ground EM anomalies within the A1 Zone where copper-(nickel) mineralization was discovered by Northern Shield and Discovery Harbour during last year's drill program.
A recently completed ground EM survey completed over Anomaly E confirmed the presence of a 500+ meter long target that has considerable depth extent and strong conductivity.
The geophysics and diamond drilling programs are being funded by Discovery Harbour under the option agreement whereby Discovery Harbour has the option of earning a 51% interest in the Wabassi property by incurring $3.4 million in exploration expenditures and issuing 250,000 shares of Discovery Harbour to Northern Shield by March 2012.
Northern Shield is also pleased to announce that Mac Watson has accepted an advisory role with Northern Shield. Mr. Watson was formerly President/CEO of Freewest Resources Canada Inc, before Freewest was bought by Cliffs Natural Resources Corp., and Chairman of Quest Rare Minerals. "We are very pleased to have Mac join our team," says Ian Bliss, president and CEO of Northern Shield. "Mac has been one of the pre-eminent players in the Canadian junior mining industry over the years and brings a wealth of experience to Northern Shield."
All exploration programs will be overseen by Christine Vaillancourt, Chief Geologist for Northern Shield and a Qualified Person under National Instrument 43-101.
Northern Shield is an innovative, results-driven Canadian company focused on Platinum Group Element (PGE) exploration in Ontario and Quebec. Its mission is to create a successful mineral exploration company through technical excellence and efficient management, where success is measured by the identification and development of high-quality mineral exploration projects, which may ultimately be optioned, sold or developed for maximum return on investment.
Forward-Looking Statements Advisory
This news release contains statements concerning the drilling and exploration plans, results and potential for Ni-Cu-PGE and other mineralization at the Wabassi property, geological, geophysical and/or geometrical analyses of the Wabassi property and other expectations, plans, goals, objectives, assumptions, information or statements about future events, conditions, results of exploration or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.
Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Northern Shield can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield and described in the forward-looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties involved in mineral exploration and analysis.
The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
on Northern Shield and its properties, please visit our website at www.northern-shield.com or contact:
Northern Shield Resources Inc.
Ian Bliss
President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760
info@northern-shield.com