NEMI Announces its Intention to Renew a Normal Course Issuer Bid

VANCOUVER, May 20, 2011 /CNW/ - NEMI Northern Energy & Mining Inc. (TSX: NNE.A) announces that it is renewing its normal course issuer bid. Under the bid, which will be conducted pursuant to the rules of the Toronto Stock Exchange ("TSX"), the Company may purchase up to 2,747,081 of its Class A common shares (the "Common Shares") representing approximately 5% of the Company's Issued and outstanding Common Shares.

The bid will now commence May 26, 2011 and will expire May 25, 2012 or such earlier date as the Company may complete its purchases. The price at which the Company will purchase its shares will be the market price thereof at the time of acquisition. Purchases of Common Shares will be made in the open market through the facilities of the TSX. The Company may purchase a daily maximum of 15,298 Common Shares. Common Shares acquired by the Company will be cancelled, except for up to 283,334 Common Shares which will be held for the sole purpose of being issued upon the valid exercise of stock options under the Company's Incentive Stock Option Plan. The Company has 55,492,301 Common Shares issued (of which 54,941,635 are issued and outstanding) as of May 5, 2011. During the previous 12 months, the Company acquired 1,746,178 of its Common Shares at an average price of $0.80 per share by way of a normal course issuer bid.

As with the shares acquired during the previous 12 months by way of normal course issuer bid, the Board of Directors of the Company believes that the current market price of the Common Shares may not fully reflect the value of the Company's business and its future business prospects. As a result, the Board has concluded that the purchase of the Common Shares may represent an appropriate and desirable use of the Company's funds and further enhance market stability.

This document may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. We seek safe harbour.

SOURCE NEMI Northern Energy

For further information:

Michael Cooney
NEMI Northern Energy & Mining Inc.
(T) 604 684-1554
(T) 415 339-8825

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NEMI Northern Energy & Mining Inc.

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