Press Release - August 18, 2003NORTHERN SHIELD TO COMPLETE PRIVATE PLACEMENTS FOR GROSS PROCEEDS OF $400,000OTTAWA, ONT. – Northern Shield Resources Inc. (“Northern Shield”) announced today that it intends to complete the following private placements (the “Private Placements”) by the end of next week: (i) 1,750,000 flow-through common shares of Northern Shield at a price of $0.20 per share; and (ii) 227,272 units (“Units”) consisting of one flow-through common share of Northern Shield and one-half of one warrant, with the warrants each being exercisable into one common share at an exercise price of $0.35 per share for a period of two years from the date of their issuance, at a price of $0.22 per Unit. Dundee Securities Corporation will act as agent to Northern Shield in connection with the placement of the flow-through common shares. One of Northern Shield’s directors intends to purchase 113,636 of the Units. The Private Placements are subject to the approval of the TSX Venture Exchange. Northern Shield is a publicly traded Canadian mineral exploration company (NRN:TSX-V). Northern Shield’s management believes that the key to mineral 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 |