/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
MONTREAL, April 14 /CNW Telbec/ - Mr. Jean-Guy Masse, President of Northern Precious Metals 2006 Inc., is pleased to announce that effective (April 16 , 2010) Northern Precious Metals 2006 Limited Partnership (the "Partnership") will distribute substantially all its net assets in cash pro rata to limited partners on record April 14, 2010.
Limited partners will receive $324.05 cash for each unit of the Partnership held by them. After giving effect to this distribution, the Partnership's only remaining asset will be 277,778 shares of Yellowhead Mining Inc. valued by the manager at $250,000 or $31.25 per unit.
Yellowhead Mining Inc. is a private company which had planned an initial public offering in December 2007. The company's plans were changed by the financial crisis and listings of this type have, as a result, generally been delayed. The company owns a copper and gold property in British Columbia that is estimated to contain 603 million tonnes of indicated and inferred resources grading 0.322% copper equivalent, or 4.3 billion pounds of copper according to a report from Scott Wilson Roscoe Postle Associates Inc. dated March 27, 2008. With the price of copper now over $3.50 per pound, Yellowhead Mining Inc. advises that it intends to list its shares in the coming months. As soon as the company has listed its shares, they will be disposed of by the Partnership and the resulting net assets, distributed to limited partners.
The Partnership has already made two previous distributions: $135 per unit in July 2008 and $67 per unit in December 2008.
The Northern Precious Metals Funds provide investors with tax-assisted investments in portfolios of flow-through shares of mining companies.
Caution Regarding Forward-looking Statements
Certain portions of this press release may contain forward-looking statements. Forward-looking statements include statements that are predictive in nature. Any statement that may be made concerning future performance, strategies or prospects and possible future action by the Partnership is also a forward-looking statement.
Forward-looking statements are not guarantees of future performance. Actual events could differ from those expressed or implied in any forward-looking statement made by the Partnership.
We encourage you to consider these factors before making any investment decision and we urge you to avoid placing any undue reliance on forward-looking statements.
SOURCE SECUTOR MANAGEMENT CORP.
For further information: For further information: Mr. Jean-Guy Masse, President, Northern Precious Metals Funds, (514) 898-3959, firstname.lastname@example.org; www.npmfunds.com