Press Release - July 15, 2003Northern Shield Resources Inc. Announces A New Director and Officers, the Closing of its Private Placement and the Commencement of the 2nd Phase of 2003 Fieldwork.Ottawa (July 15, 2003) – Northern Shield Resources Inc. (“Northern”) (NRN:TSX-V) is pleased to announce the addition of Charlie Berard to Northern’s Board of Directors and the appointment of Chris de Saint-Rome as Chief Financial Officer/Consultant and Marcus Archer as Corporate Secretary. Mr. Berard is a partner in the Calgary law firm of Macleod Dixon LLP and has been practising in the corporate and resource areas for in excess of 21 years. He is currently a director or corporate secretary of several publicly trading corporations as well as private corporations including Western Oil Sands Inc., Vermilion Resources Limited, Ranchgate Energy Inc., Connacher Oil & Gas Limited, Consolidated Properties Ltd. and Torode Realty Ltd, and has worked in various positions in the mining industry in Canada including at BHP’s former open pit operations in Port Hardy, British Columbia and at the Nanasivik Mine located at Baffin Island, NWT. Mr. Berard is a member of the Canadian Institute of Mining and Metallurgy and holds a Bachelor of Engineering degree in Mining Engineering from McGill University and a Bachelor of Law degree in civil law and a Bachelor of Law degree in common law, both from the University of Ottawa. Mr. de Saint-Rome has over fifteen years of experience in the areas of financial services and early stage corporate management. He has worked with such international companies as RBC Dominion Securities, Deloitte & Touche, MacDougall-MacDougall-MacTier, and the Nordica Group. Mr. de Saint-Rome received his BA from McGill University. Mr. Archer is a senior associate in the Calgary law firm of Macleod Dixon LLP and has been practising securities and corporate law, with a focus on corporate financings and mergers and acquisitions, for 5 years. He is a director of a number of private companies and holds a Bachelor of Arts degree in Economics from the University of Western Ontario and a Bachelor of Law degree from the University of Alberta. “The addition of these three individuals rounds out the expertise of Northern’s Board and Management teams. We are extremely excited about the future of Northern and I believe we have put together a group with the experience and energy to assist Northern in becoming a leading player in Canadian mineral exploration.” stated Mr. Bliss. Mr. Bliss went on to add “the philosophy of Northern is to capitalize on geological opportunities in under-explored terranes by utilizing every resource available to us, and finding what others have overlooked with the guidance of our strong technical professionals.” The Northern Shield board of directors represents international experience in all facets of the mineral industry, including exploration, management, finance and corporate law and is now comprised of Ian Bliss, Charlie Berard, Dr. Neil Bliss, Kevin Kelly, William Kiff and John Pedersen. Bios for Messrs I. Bliss, N. Bliss, Kelly, Kiff and Pedersen can be found in Northern’s joint information circular dated February 15, 2003 available on SEDAR. Northern also announces that it has completed its previously announced private placement (June 24, 2003 press release) pursuant to which Northern raised an aggregate of approximately $163,500. The securities issued under the private placement cannot be traded before November 9, 2003. Northern is also pleased to announce that its results from the first phase of the fieldwork completed thus far in 2003 on all four of Northern’s kimberlite projects have been received, and geophysics and heavy mineral sampling continues to indicate the potential for diamondiferous kimberlite in the project areas. Ground magnetic surveys have been completed on targets selected from high-resolution aero-magnetic surveys at Northern’s Waxatike, Bradley and Faint Hope projects. Four of the 16 grids completed show kimberlite-like magnetic anomalies. One of the targets, BT-5, is located “up-ice” from numerous kimberlite indicator minerals (KIMs) including a micro-fragment of eclogite. An image of the Total Magnetic Field from BT-5 has been posted on Northern’s website. Heavy mineral sampling has continued to outline distinct KIM dispersion trains as well as defining regional “cut-offs” to KIM anomalies, providing a much more accurate delineation of areas with high kimberlite-potential. Of the 75 sediment samples analyzed for KIMs by Overburden Drilling Management of Ottawa, 50 contained KIMs. A total of 368 KIM grains were identified, including 21 purple garnets (microprobe confirmation pending), while 38 of the 50 anomalous samples contained multi-KIM assemblages, i.e., garnet-ilmenite-chromite-olivine. The second phase of fieldwork is expected to commence later this week with heavy mineral sampling and ground geophysics on Northern’s four kimberlite projects and soil sampling at Northern’s Highbank Lake PGE property. “Precise area selection is at the heart of Northern Shield’s exploration success, relying on exhaustive geological modeling of prospective areas, and comparison with known kimberlite fields” said Dr David Palmer, Chief Geologist for Northern, and added “this attention to detail has been rewarded with continued advancement of the projects at each successive exploration stage: Over 200 high priority magnetic anomalies, similar to known kimberlite, have been identified, and over 1200 kimberlite indicator minerals, including G10 pyrope, G9 pyrope, eclogitic, and megacrystic garnets, diamond inclusion and kimberlitic chromite, kimberlitic ilmenite, chrome diopside and olivine, have been recovered from the project areas.” Northern Shield is a publicly traded Canadian mineral exploration company (NRN:TSX-V) which believes that the key to exploration success and the creation of investor value is found in a combination of ingenuity, technical expertise and efficiency. If you would like more information about Northern Shield Resources Inc. and its properties, please visit our website at www.northern-shield.com or contact:
Ian Bliss THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISPROVED THE CONTENTS OF THIS PRESS RELEASE |