Northern announces withdrawal of offer to acquire shares of African Aura



    TORONTO, April 29 /CNW/ - Northern Financial Corporation ("Northern")
(TSX: NFC) announced that effective immediately it has withdrawn its offer to
acquire all of the issued and outstanding common shares of African Aura
Resources Limited ("Aura") not already owned by Northern (the "Offer").
Northern commenced the Offer on February 4, 2009, and, on March 10, 2009,
Northern varied the Offer by lowering the minimum cash condition of the Offer
from $0.10 per Aura share to $0.093 per Aura share and extending the expiry
date of the Offer to April 6, 2009. On April 6, 2009, Northern further
extended the expiry date of the Offer to May 11, 2009.
    A number of conditions to the Offer remain unsatisfied, including the
minimum tender condition and the minimum cash condition. According to Aura's
recent public disclosure, Aura has cash of $5.5 million, representing $0.082
cash per Aura share. As such, the minimum cash condition has not been met and
Northern is not prepared to waive this condition.

    About Northern Financial Corporation

    Northern Financial Corporation wholly owns Northern Securities Inc., a
full service investment dealer that provides financial advisory services to
retail and institutional clients and investment banking services to small
capitalization companies. Northern's head office is at 145 King Street West,
Toronto, Ontario.

    The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may contain
certain forward looking statements which involve known and unknown risks,
delays, and uncertainties not under Northern's control which may cause actual
results, performances or achievements of Northern to be materially different
from those implied by such forward looking statements. This press release does
not constitute an offer to purchase shares of Aura. Such an offer can only be
made through an offer to purchase and circular filed with applicable
securities regulatory authorities. Northern urges shareholders of Aura to read
the Offer documents which are available on www.sedar.com as they contain
important information.

    %SEDAR: 00004119E




For further information:

For further information: Vic Alboini, Chairman & Chief Executive
Officer, (416) 644-8110; or Kyler Wells, General Counsel, (416) 644-8177

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Northern Financial Corporation

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