Northern Gold Mining Inc. (NGM) Commences Trading on the TSXV.



    TORONTO, Nov. 27 /CNW/ - The directors of Northern Gold Mining Inc.
("NGM", TSXV: NGM) are pleased to announce that the common shares of the
company commenced trading today on the TSX Venture Exchange ("TSXV") under the
symbol "NGM".
    The common shares were issued as part of an Initial Public Offering
("IPO") which closed on November 20, 2007 (Press Release November 21, 2007).
Through the prospectus offering, NGM raised total gross proceeds of $5.0 
million consisting of 2,047,900 Regular Units sold at a price of C$0.50 per
unit for gross proceeds of $1,023,950, and 6,626,749 Flow-Through Units sold
at $0.60 per unit for gross proceeds of $3,976,050. Both the Regular Units and
the Flow-Through Units consisted of one common share and one-half of one
common share purchase warrant (a "Unit Warrant"). Each Unit Warrant entitles
the holder to purchase one common share until November 20, 2009 (the "Warrant
Term") at a price of $0.75 per share, provided that if the closing price of
the common shares on the TSXV exceeds $0.90 for 20 consecutive trading days,
then the Warrant Term shall be automatically reduced and the Unit Warrants
will expire on the date that is 30 days following the issuance of a press
release announcing the reduced Warrant Term. A cash commission of $400,000 
equal to 8% of the gross proceeds was paid, and 693,972 Compensation Options
equal to 8% of the Units sold were issued to Evergreen Capital and subagents.
Each Compensation Option entitles the holder to purchase one Regular Unit at
$0.50 per unit until November 20, 2009.
    Northern Gold Mining now has a total of 24,520,899 common shares issued
and outstanding, and a further 16,869,158 shares are subject to issuance for a
total of 41,390,057 shares on a fully diluted basis.
    Net Proceeds from the offering will be used to conduct an extensive
exploration program on NGM's Bourkes Gold Project located just west of
Kirkland Lake and for general working capital.
    Initially, exploration at the Bourkes Gold Project will focus on a
definition drilling program to confirm the historically reported high grade
gold mineralization. NGM is planning to spend a total of C$1.9 million over
the next year on exploration including diamond drilling, ground IP surveys,
geological mapping and geochemical sampling.

    CAUTIONARY STATEMENT: The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release. No stock
exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein. This News Release includes
certain "forward-looking statements". All statements other than statements of
historical fact, included in this release, including, without limitation,
statements regarding potential mineralization and reserves, exploration
results, future plans and objectives of Continental Nickel Limited, are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from Continental Nickel Limited's expectations are the risks
detailed herein and from time to time in the filings made by Continental
Nickel Limited with securities regulators.

    %SEDAR: 00025608E




For further information:

For further information: Northern Gold Mining Inc., Martin Shefsky,
President and CEO, Tel: (416) 366-7300, Fax: (416) 366-7301, E:
mshefsky@northerngold.ca, Web site: www.northerngold.ca

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NORTHERN GOLD MINING INC.

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