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NAI

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Delayed by 15 minutes
Share Name Share Symbol Market Type
TSXV:NAI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Northern Abitibi Receives $100,000 Grant

08/05/2012 5:14pm

Marketwired Canada


Northern Abitibi Mining Corp. (TSX:NAI) ("Northern Abitibi") is pleased to
announce that it has received a payment of $100,000 from the Newfoundland Junior
Exploration Assistance program in support of the Company's 2011 exploration
activities at the Viking project. This incentive program is offered by the
Government of Newfoundland and Labrador to encourage mineral exploration, and
the contribution is greatly appreciated by the Company.


Northern Abitibi is currently pursuing a number of options to move the Company
forward and maximize the value of the Viking gold deposit in this challenging
market environment. Details of exploration plans or corporate developments will
be released as soon as they are finalized.


The Viking Property

The Viking Property contains numerous high grade veins within larger bulk
tonnage style zones of gold mineralization located within a 3 to 4 kilometre
long gold-in-soil anomaly. Drilling highlights include high grade intercepts of
5.75 metres grading 33.7 g/t gold, 3.7 metres grading 50.1 g/t gold, 0.5 metres
grading 218.8 g/t gold as well as lower grade intercepts including 27 metres
grading 7.9 g/t gold, 23.0 metres grading 5.1 g/t gold, and 57.4 metres grading
2.8 g/t gold. The Viking property contains an Indicated Resource of 3,232,000
tonnes grading an average of 0.95 g/t gold (98,000 ounces) plus an Inferred
Resource of 2,123,000 tonnes grading an average of 0.66 g/t gold (45,000
ounces). The property is located in the mining friendly jurisdiction of
Newfoundland and Labrador and has excellent access and local infrastructure,
with a paved highway and power line located less than one kilometre from the
project. Northern Abitibi has a 100% property interest in the Viking project
subject to a 2% to 4% sliding scale net smelter royalty held by Altius
Resources. A detailed description of the Viking project is available on our
website (www.naminco.ca).


Dr. Shane Ebert, P. Geo. is the Qualified Person responsible for the preparation
of this news release.


Shane Ebert, President/Director

Except for the historical and present factual information contained herein, the
matters set forth in this news release, including words such as "expects",
"projects", "plans", "anticipates" and similar expressions, are forward-looking
information that represents management of Northern Abitibi's internal
projections, expectations or beliefs concerning, among other things, future
operating results and various components thereof or the economic performance of
Northern Abitibi. The projections, estimates and beliefs contained in such
forward-looking statements necessarily involve known and unknown risks and
uncertainties, which may cause Northern Abitibi's actual performance and
financial results in future periods to differ materially from any projections of
future performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, among other things, those
described in Northern Abitibi's filings with the Canadian securities
authorities. Accordingly, holders of Northern Abitibi shares and potential
investors are cautioned that events or circumstances could cause results to
differ materially from those predicted. Northern Abitibi disclaims any
responsibility to update these forward-looking statements.


1 Year Northern Abitibi Mining Corp. Chart

1 Year Northern Abitibi Mining Corp. Chart

1 Month Northern Abitibi Mining Corp. Chart

1 Month Northern Abitibi Mining Corp. Chart