NioGold Mining Corporation (TSX VENTURE:NOX)(FRANKFURT:NG1) ("NioGold") is pleased to announce that it has acquired a 100% interest in seven (7) mining claims ("the Claims") covering 280 hectares in Malartic Township, Quebec.
The Claims are contiguous to the northwest portion of the Company's large Camflo West property, located in the Malartic gold mining camp. The Claims cover a one to two kilometre segment of the Norbenite Shear, a regional structure that is host to several gold deposits to the southeast, including the Norlartic and Kierens deposits on the Company's Marban Block property - NioGold now controls ground over a continuous 14 kilometre stretch of the Norbenite Shear. The Claims have not been subject to sustained exploration in the past. Prior to 1987, exploration work involved geological mapping, ground and airborne geophysical surveys and one short diamond drill hole. In 1987, Aur Resources Inc. completed 16 diamond drill holes for a total of 3,228 meters (GM 46864).
The Claims were acquired pursuant to a purchase agreement with Teck Cominco Limited ("Teck"), under which the Company will issue 500,000 common shares of NioGold and grant a 2% Net Smelter Returns royalty (the "NSR Royalty") on the Claims to Teck. NioGold may purchase one half of the NSR Royalty for $750,000 at any time up to 90 days after the approval by its board of a production decision. The transaction is subject to TSX Venture Exchange approval.
NioGold Mining Corporation - "The Golden Highway Runs Through NioGold"
NioGold Mining Corporation is a junior exploration company primarily focused on GOLD. The Company's main properties are the Marban Block, Malartic Hygrade, Malartic H, Camflo West and Siscoe East, all located in the Malartic and Val-d'Or gold mining camps, Abitibi region of Quebec. The camps have produced over 27 million ounces of gold and presently encompass several active advanced exploration and mine development projects such as Canadian Malartic (Osisko Exploration), Kiena (Wesdome), Midway (Northern Star Mining), Goldex (Agnico-Eagle) and Lac Herbin (Alexis Minerals). The Marban Block encompasses three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced over 590,000 ounces of gold.
NioGold's experienced and qualified technical team will ensure the successful advancement of the Company's projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com.
Investors are invited to visit the NioGold IR Hub at www.agoracom.com/IR/niogold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to nox@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
This Press Release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.
The TSX Venture Exchange or the Frankfurt Stock Exchange did not approve nor do not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact
NioGold Mining Corporation
Michael A. Iverson
Chairman & CEO
(604) 856-9887
Email: miverson@niogold.com
or
NioGold Mining Corporation
Rock Lefrancois
President & COO
(819) 825-7400
Email: rocklefrancois@niogold.com
Website: www.niogold.com
