Northern Shield Raises $1.67 million



    OTTAWA, May 14 /CNW Telbec/ - Northern Shield Resources Inc. ("Northern
Shield") (TSX-V: NRN) is pleased to announce that it has completed a
non-brokered private placement (the "Private Placement") for gross proceeds of
$1,424,500 by issuing 15,827,777 shares and 6,733,889 warrants with each whole
warrant exercisable for one common share at a price of $0.15 for a period of
18 months. The proceeds from the Private Placement will be used for
exploration on Northern Shield's properties and for general corporate
purposes. Finder's fees of $27,000 were paid to certain parties in connection
with the Private Placement.
    The principal participants of the financing were Anglo Pacific Group Plc
(Anglo Pacific), Sprott Asset Management (Sprott), as portfolio manager for
various funds, Earth Resources Investment Group (ERIG) and certain directors
of Northern Shield. Sprott's participation maintains its ownership interest in
Northern Shield. Anglo Pacific is based in London, England and its strategy is
to invest in exploration and development projects through the acquisition of
royalties and equity placements. Anglo Pacific has a particular interest in
PGE projects in stable regions. ERIG is based in Zug, Switzerland with offices
in London and Cape Town and consists of a group of fund advisor companies for
"niche investments" in the resources sector with a focus on undervalued
companies with strong growth potential based on geological and technical
merit. In conjunction with the Private Placement, Anglo Pacific also purchased
options to acquire a 1% Net Smelter Return royalty (an "NSR" and together the
"NSRs") on each of Northern Shield's Highbank Lake and Eastbank properties by
paying an aggregate of $250,000 to Northern Shield. If Anglo Pacific elects to
acquire either or both of the NSRs they would have to pay a further $1,000,000
to Northern Shield for each NSR to be acquired.
    "We are very pleased to add Anglo Pacific and ERIG, two of Europe's
pre-eminent resource funds, to our core group of notable institutional
shareholders and to have Sprott once again participate in our financing to
maintain its ownership interest in Northern Shield," said Mr. Ian Bliss,
President and CEO of Northern Shield.
    The securities issued under the Private Placement and the common shares
issuable upon exercise of the warrants are subject to a hold period of four
months and a day from the date of their issuance.

    Northern Shield is an innovative, results-driven Canadian company focused
on Platinum Group Element (PGE) exploration in Ontario. 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.

    No stock exchange, securities commission or other regulatory authority
    has approved or disapproved the information contained herein.
    %SEDAR: 00007505E




For further information:

For further information: on Northern Shield and its properties, please
visit our website at www.northern-shield.com or contact: Ian Bliss, President
and CEO, (613) 232-0459, Fax: (613) 232-0760, info@northern-shield.com


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