Northern Shield Receives Approval for Private Placement



    OTTAWA, Aug. 29 /CNW Telbec/ - Northern Shield Resources Inc. ("Northern
Shield") (TSX-V: NRN) is pleased to announce that it has received approval
from the TSX for its previously announced private placement (July 25th) (the
"Private Placement") to two of its directors. 583,333 units ("Units") of
Northern Shield were issued under the Private Placement at a price of
$0.60 per Unit for proceeds of $350,000, with each Unit consisting of one
common share and one-half of one warrant. Each whole warrant entitles the
holder thereof to acquire one common share at a price of $0.85 per common
share for a period of eighteen months from the issuance of the warrant. The
securities issued under the Private Placement and the common shares issuable
upon exercise of the warrants cannot be traded before December 1, 2008.

    Northern Shield is an innovative, results-driven Canadian company focused
on PGE (platinum group elements) and diamond 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 optimal
benefit. For information on Northern Shield and its properties, please visit
Northern Shield's website at www.northern-shield.com.

    THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED
    NOR DISPROVED THE CONTENTS OF THIS PRESS RELEASE
    %SEDAR: 00007505E




For further information:

For further information: Ian Bliss, President and CEO, Northern Shield
Resources Inc., (613) 232-0459, Fax: (613) 232-0760, info@northern-shield.com


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