Northern Shield Completes Private Placement

OTTAWA, Sept. 1 /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 $444,060 by issuing 3,700,500 units consisting of one common share and one half warrant. Each whole warrant is exercisable for one common share at a price of $0.17 for a period of 24 months. If prior to the Expiry Date the Common Shares of the Company close at a price of more than $0.40 per Common Share during any period of 20 consecutive trading days the Expiry Date shall be five (5) trading days following the last trading day of the twenty day period.

The proceeds from the Private Placement will be used for exploration on Northern Shield's Highbank Lake property, acquisition of a new property and for general corporate purposes.

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 and Quebec. 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 or contact:

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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For further information: Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: [phone], Fax: [phone], [email protected]