OTTAWA, June 7, 2017 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that it has signed a binding option agreement with the Conseil de la Nation Innu de Matimekush-Lac John (CNIMLJ) for three claim blocks, totaling 82 claims, in Quebec (the "Agreement"). Under the terms of the Agreement, which is subject to TSX-V approval, Northern Shield can earn a 100% interest in the claims by reimbursing staking costs and issuing 100,000 shares on signing the agreement, 150,000 shares on the first anniversary of the agreement and a further 200,000 shares on the second anniversary.
The claims are located 60 kilometers E-NE of the town of Schefferville and cover ground that the Company believes to be highly prospective for Ni-Cu-(PGE).
The Company has also acquired, through map designation staking, 134 claims covering PGE and gold targets including a till sample collected by the Geological Survey of Canada that contained 66 grains of gold of which 34 are in pristine condition.
Exploration will commence on these new claims and Sé2 next week.
The exploration program is being led by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.
Northern Shield Resources Inc. is a Canadian-based company focused on exploring for platinum group element ("PGE") and nickel-copper-PGE deposits. It is known as a leader in grass roots exploration for Ni-Cu-PGEs and the understanding of magmatic systems as it applies to exploration.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential Cu-Ni-PGE, Gold and other mineralization at the Company's southern Labrador Trough properties and geological, and geometrical analyses of the southern Labrador Trough properties 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 exploration and the general risks and uncertainties involved in mineral exploration and analysis.
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Northern Shield Resources Inc.
For further information: Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: (613) 232-0459, Fax: (613) 232-0760, email@example.com