OTTAWA, July 25 /CNW Telbec/ - Northern Shield Resources Inc. ("Northern
Shield") (TSX-V: NRN) is pleased to announce that Peter Walker has been
appointed as a director of Northern Shield.
Mr. Walker was the founder, President and CEO of Scandinavian Minerals
Ltd., a public mineral exploration and development company listed on the
Toronto Stock Exchange, from 1996 until its acquisition this summer by First
Quantum Minerals Ltd. for in excess of $260 million. Mr Walker graduated in
Mining & Exploration Geology in 1973 from the Royal School of Mines, Imperial
College, London. He has more than 30 years of international experience in the
metals and minerals industries, including marketing, trading and investment
with companies such as Western Mining, Amalgamated Metal Corporation and the
Mr. Ian Bliss, Northern Shield's President and Chief Executive Officer,
stated "We are delighted to have Mr. Walker join Northern Shield's Board of
Directors, his mining and public company expertise and industry contacts are a
valuable addition to Northern Shield's Board."
Northern Shield granted options to acquire 150,000 common shares to
Mr. Walker. The options have an exercise price of $0.59 per share and expire
in five years.
Northern Shield also announces that it intends to complete an additional
issuance of 250,000 units to Mr. Walker and 333,333 units to Mr. Boyce, both
directors of Northern, on the same terms as Northern's private placement
announced on June 10, 2008. The units are priced at $0.60 and each unit
consists of one common share and one-half of one warrant, with each whole
warrant entitling the holder thereof to acquire one common share at a price of
$0.85 for a period of 18 months from its issuance. Such issuances are subject
to the approval of the TSX Venture Exchange.
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
For further information:
For further information: Ian Bliss, President and CEO, Northern Shield
Resources Inc., (613) 232-0459, Fax: (613) 232-0760, firstname.lastname@example.org