Northern Shield Resources Inc. (TSX-V: NRN) is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement of common share units and flow-through units of the Company for aggregate gross proceeds of $1,165,000.

In connection with the Offering, the Company issued 6,700,000 Units and 9,090,910 FT Units under the first tranche for aggregate gross proceeds of $835,000 while issuing 500,000 Units and 5,545,600 FT Units under the second tranche for aggregate gross proceeds of $330,000.

Pursuant to the Offering, each Unit consisted of one common share of the Company and one Common Share purchase warrant, and each FT Unit consisted of one Common Share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) and one-half of one Common Share purchase warrant. Each whole FT Warrant is exercisable for one Common Share at a price of $0.075 per share within 12 months of closing, and each Warrant is exercisable for one Common Share at a price of $0.075 per share within 36 months of closing.

All of the securities issued under the Offering are subject to a four-month and one-day statutory hold period. Under the Offering, the Company paid $60,000 in finders’ fees and issued an aggregate of 1,118,190 finders’ warrants. In connection with the Offering, the Company will use the cash proceeds to continue the diamond drill program at the Company’s Root & Cellar Property and for general working capital purposes.

The securities have not and will not be registered under the U.S. Securities Act of 1933, or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Northern Shield Resources

Northern Shield Resources Inc. is a Canadian-based company known as a leader in generating high-quality exploration targets that views greenfield exploration as an opportunity to find a Tier 1 asset, near surface, and at relatively low cost. We implement a model driven exploration approach to reduce the risk associated with early-stage projects for ourselves, our shareholders, and the environment. This approach led us to option the Root & Cellar Property from a Newfoundland prospector, who discovered the mineralization, and then its advancement to a large gold-silver-tellurium and copper porphyry system.