Mr. Ian Bliss reports

NORTHERN SHIELD COMPLETES OVERSUBSCRIBED PRIVATE PLACEMENT

Northern Shield Resources Inc. has closed the second and final tranche of its previously announced non-brokered private placement of common share units and flow-through (FT) units of the company for aggregate gross proceeds of $1,165,000.

In connection with the offering, the company issued 6.7 million 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 7.5 cents per share within 12 months of closing and each warrant is exercisable for one common share at a price of 7.5 cents 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.

About Northern Shield Resources Inc.

Northern Shield Resources 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. The company implements a model-driven exploration approach to reduce the risk associated with early-stage projects for itself, its shareholders and the environment. This approach led the company 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.

We seek Safe Harbor.