Press Release - October 30, 2003

NORTHERN SHIELD RESOURCES INC.
NRN: TSX-V

Significant Exploration Results for Northern Shield Resources’ Ontario Platinum-Palladium Prospect

Results indicate potential to host Platinum-Palladium mineralization

Ottawa (October 30, 2003) – Northern Shield Resources Inc [TSX-V: NRN] is pleased to announce positive indicators for PGE (Platinum Group Elements) mineralization on its 100% owned Highbank Lake Property in Northern Ontario. Recently completed airborne magnetic, induced polarization (IP) and stream and soil MMI (Mobile Metal Ion) surveys support the potential for the area to host significant magmatic PGE-bearing sulphide/chromitite layers or “reefs.” The Highbank Lake property represents a potential mafic-ultramafic layered intrusion related to the Fishtrap Lake Intrusive Complex in Northern Ontario.

“We are very pleased that each of our exploration phases continues to indicate very promising results,” says Ian Bliss the company President. “The recently completed airborne magnetic surveys shows an extremely well banded sequence of rocks and the MMI sample survey defines zones distinctly enriched in palladium.”

A total of 412 MMI samples were collected at 25 meter intervals along three profiles. The highest response ratios for each element from the survey are: Au-16; Pd-10; Pt-3; Ni-50; Co-90; and Ag-262. Fifty-six of the 412 samples returned Pd response ratios greater than 2 including seven samples with a response ratio greater than 5 (response ratios for precious metals greater than 2 are typically considered significant). The profile lengths were: P1, 3.3 km; P2, 5.6 km; and P3, 4.6 km. Samples were analysed using the MMI B Precious Metal package (Pt, Pd, Ni, Co, Ag) by SGS Laboratories Ltd in Toronto, Ontario. MMI is leading edge technology that measures low concentrations of metals in ion form, that migrate from the rock source, through the overburden, to the overlying soils. Dr David Palmer, Chief Geologist and Qualified Person for Northern Shield supervised the sample program.

Dr. Mark Fedikow, a noted Canadian specialist in MMI geochemistry and independent consultant interpreted the data and reported, “The MMI-B element grouping of Ni-Co-Ag is indicative of a geochemical signal of layered mafic-ultramafic sequences. The presence of significant Pd-Pt responses in association with this grouping indicates the Fishtrap Lake Intrusive Complex (FLIC) should be carefully assessed for its potential to host Ni-Cu-PGM mineralization”. These findings reinforce Northern Shield’s model for a layered mafic-ultramafic intrusive complex containing magmatic PGE-bearing sulphide/chromitite mineralization (Press Release September 4, 2003).

The geochemical survey also indicated a number of significant gold anomalies identified by MMI and repeated in stream sediment samples. Values of up to 3.1 g/t Au and response ratios of up to 16 were returned from sediment and MMI samples respectively. The results for gold, although unexpected, are encouraging and may be related to structures developed during a regional deformation event that affected the area.

As a result of these findings, Northern Shield is planning an intensive follow-up program for current anomalies, consisting of detailed geochemical and geophysical surveys, as well as additional regional exploration to identify the full extent of potential mineralized horizons. The surveys will be designed to allow for a drilling program during the winter.

Exploration continues on Northern Shield’s four Ontario kimberlite properties.

Northern Shield is a publicly traded Canadian mineral exploration company (NRN:TSX-V) that 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
President
Northern Shield Resources
Suite 1600 – 150 Metcalfe Street
Ottawa, Ontario K2P 1P1
Tel: (613) 232-0459
Fax: (613) 232-0760
e-mail: ibliss@northern-shield.com

back to top

CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Northern Shield, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. Important factors that could cause actual results to differ materially from Northern Shield’s expectations are exploration risks detailed herein and from time to time in the filings made by Northern Shield with securities regulations.

close window