Press Release - May 3, 2006

NORTHERN SHIELD RESOURCES INC.
NRN: TSX-V

NORTHERN SHIELD RESOURCES COMPLETES HIGH RESOLUTION IP SURVEY AT HIGHBANK LAKE: DRILL TARGET SELECTION UNDERWAY

Ottawa (May 3, 2006 - TSX:V-NRN) – Northern Shield Resources Inc. ("Northern Shield") is pleased to announce that it has completed an Induced Polarization (IP) geophysical survey on a small portion of its Highbank Lake Platinum-Group Element (PGE) property in northern Ontario. The IP survey was conducted by Quantec Geoscience Ltd using the Titan 24 DCIP System and tested an approximately 8 kilometer long cross-section through the northern portion of the intrusion along three parallel profiles. This region of the intrusion is deemed to be the most prospective for PGE and the IP survey delineated a number of chargeable anomalies, some of which coincide very well with anomalous concentrations of platinum, palladium and other pathfinder elements previously reported from Mobile Metal Ion (MMI) soil sampling surveys (see Press Release 21/09/05).

Drill targets are currently being selected and prioritised on the basis of the compiled IP, MMI, and Airborne AEROTEM II survey results. This work is being led by Christine Vaillancourt and Scott Jobin-Bevans of Caracle Creek International Consulting Inc. (CCIC), both Qualified Persons under National Instrument 43-101.

“We are very encouraged by the corroborating results of the IP survey” says Northern Shield President, Ian Bliss, "We have good geochemical and geophysical targets; we’re ready to drill.”

The Highbank Lake property covers a recently discovered layered intrusion, which extends for approximately 500 square kilometers, and is being explored for reef-hosted PGE and chromium, and contact-type PGE. Impala Platinum Holdings Limited of South Africa, the world’s second largest platinum producer, entered into an option agreement with Northern Shield pursuant to which Impala has the option of earning a 60% interest in the PGE and PGE by-products of the property by incurring $5 million in exploration expenditures on the property within five years (see Press Release 18/07/05).

This press release has been reviewed and approved by Scott Jobin-Bevans, Ph.D., P.Geo., an independent consultant and Qualified Person pursuant to National Instrument 43-101, working with Caracle Creek International Consulting Inc., based in Sudbury, Ontario.

Northern Shield is an innovative, results-driven Canadian company focused on diamond and PGE exploration in Ontario. Its mission is to create a successful mineral exploration company through technical excellence and efficient management, where success is measured by the identification and development of high-quality mineral exploration projects, which may ultimately be optioned, sold or developed for optimal benefit. For further information on Northern Shield and its properties, please visit Northern Shield's website at www.northern-shield.com.

For further information please contact:

Northern Shield Resources Inc.
Ian Bliss
President and CEO
Tel.: (613) 232-0459
Fax: (613) 232-0760
info@northern-shield.com

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FORWARD-LOOKING STATEMENTS

This press release contains statements concerning expectations, conditions or results of operations that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Northern Shield can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield These risks and uncertainties include, but are not limited to, the uncertainties involved in interpreting geophysical, geochemical and other geological data, and other factors. The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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