Northern Shield Resources Options Ni-Cu-PGE prospect in northern Ontario



    OTTAWA, June 23 /CNW Telbec/ - Northern Shield Resources Inc. ("Northern
Shield") (TSX-V: NRN) is pleased to announce that it has signed an option
agreement with East West Resource Corporation. ("East West") (EWR - TSX-V)
whereby Northern Shield can earn up to a 66% interest in East West's 91 square
kilometer "Max" nickel-copper PGE prospect located adjacent to Northern
Shield's Wabassi property in northwestern Ontario.
    Under the terms of the option agreement, Northern Shield can earn a 50%
interest in the property by making an initial payment of $75,000, issuing
300,000 shares, incurring $1 million in exploration expenditures on the
property within 2 years, of which $250,000 must be incurred in 2008, and
making an additional payment of $50,000 and issuing an additional
100,000 shares on the first anniversary of the agreement. After earning its
50% interest, Northern Shield can increase its interest to 66% with an
additional expenditure of $2.5 million over two years and the issuance of an
additional 250,000 shares. Under the agreement Northern Shield is the operator
and manager of the exploration. The terms of this agreement are subject to
approval by the TSX Venture Exchange.
    Northern Shield is exploring its Wabassi property for nickel-copper-(PGE)
mineralization, and believes that the Wabassi north and East West's Max
targets are parts of a feeder conduit to the main Wabassi intrusion. The prime
drill target on the Max property is a 700 metre long electromagnetic (EM)
conductor that is believed to be hosted in a mafic intrusion. A drill program
will commence at Max at the earliest opportunity this summer after which
Northern Shield plans to move the drill to the Eastbank area. The drill
program at Max will be overseen by Christine Vaillancourt, Northern Shield's
Chief Geologist, who is a Qualified Person under National Instrument 43-101.
    Northern Shield is an innovative, results-driven Canadian company focused
on diamond and 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. For further information on Northern Shield and its
properties, please visit our website at www.northern-shield.com

    Forward-Looking Statements Advisory

    This news release contains statements concerning the potential for
nickel, copper and PGE and other mineralization at Max and Wabassi,
geological, geophysical and/or geometrical analyses of Wabassi and other
expectations, plans, goals, objectives, assumptions, information or statements
about future events, conditions, results of exploration or performance that
may constitute forward-looking statements or information under applicable
securities legislation. Such forward-looking statements or information are
based on a number of assumptions which may prove to be incorrect.
    Although Northern Shield believes that the expectations reflected in such
forward-looking statements or information are reasonable, undue reliance
should not be placed on forward-looking statements because Northern Shield can
give no assurance that such expectations will prove to be correct.
Forward-looking statements or information are based on current expectations,
estimates and projections that involve a number of risks and uncertainties
which could cause actual results to differ materially from those anticipated
by Northern Shield and described in the forward-looking statements or
information These risks and uncertainties include, but are not limited to,
risks associated with geological, geometrical and geophysical interpretation
and analysis, the ability of Northern Shield to obtain financing, equipment,
supplies and qualified personnel necessary to carry on further exploration at
its properties and the general risks and uncertainties involved in mineral
exploration.
    The forward-looking statements or information contained in this news
release are made as of the date hereof and Northern Shield undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.

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


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