Northern Shield to Maintain 100% of Huckleberry Property; Reconnaissance and Due Diligence to Commence on other Ni-Cu-Co-PGE Projects
Northern Shield to Maintain 100% of Huckleberry Property; Reconnaissance and
Due Diligence to Commence on other Ni-Cu-Co-PGE Projects
OTTAWA, Jan. 18, 2018 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company")
(TSXV: NRN) announced today that while South32 successfully met the Phase 1 requirements entitling it
to acquire a 50% interest in the Huckleberry Project, it elected to relinquish the entitlement to acquire
such interest and, as such, Northern Shield now hold a 100% interest in Huckleberry Property with no
longer any third-party rights thereto. Accordingly, the Huckleberry Option and Joint Venture agreement
announced on June 7, 2016 has been terminated.
"We remain confident in the technical merits and exploration potential of the Huckleberry Project and
Labrador Trough, including Séquoi and Sé2," explains Northern Shield President and CEO, Ian Bliss.
"However, planned exploration for 2018 at Huckleberry and surrounding area may be limited as we focus
on the Shot-Rock Gold Property in Nova Scotia and other Ni-Cu-PGE targets in Quebec and elsewhere.
This will also allow for research at Huckleberry and the Labrador Trough in general to come to fruition and
assist in future exploration. Research includes initiatives by the Geological Survey of Canada and a Ph.D.
supervised by Dr. Wolfgang Maier at the University of Cardiff, Wales.
"We are very pleased with the relationship forged with South32 and appreciate their dynamic approach to
exploration. We look forward to opportunities to re-establish joint ventures in the future," adds Mr Bliss.
Throughout 2017, desktop evaluations of geological environments similar to the Labrador Trough
elsewhere in the world have revealed two areas of interest for follow-up. Within the next few weeks the
Company expects to have its geologists on the ground undertaking reconnaissance and due diligence on
these projects it may acquire. At the same time, exploration will also commence at its newly optioned
Shot-Rock Gold Property in Nova Scotia.
Northern Shield Resources Inc. is a Canadian-based company focused on generating high-quality
exploration programs with experience in many geological terranes. It is known as a leader in executing
grass roots exploration program for Ni-Cu-PGEs and utilizes expertise and innovation toward working on
other deposit types.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans at the Company's Labrador
Trough Properties and the Shot Rock Gold Property in Nova Scotia, acquisition targets, the Company's
capitalization and other goals, objectives, assumptions, information or statements about future events,
conditions, results of exploration or performance 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 forwa rd-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 and described in the forward-looking statements or information. These
risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and
geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment,
supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties
involved in mineral exploration and analysis.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Northern Shield Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/January2018/18/c1099.html
%SEDAR: 00007505E
For further information: Northern Shield Resources Inc.: Ian Bliss, President and CEO, Tel.: (613)
232-0459, Fax: (613) 232-0760, [email protected]
CO: Northern Shield Resources Inc.
CNW 09:15e 18-JAN-18