Northern Shield Closes $300,000 Private Placement with Mr. Rob McEwen

Northern Shield Closes $300,000 Private Placement with Mr. Rob McEwen

Ottawa, Ontario (January 28, 2020) – Northern Shield Resources Inc. (“Northern Shield” or the “Company”) [TSX-V: NRN] is pleased to announce that it has closed a non-brokered private placement financing for proceeds of $300,000 (the “Private Placement“). The Private Placement consisted of 3,333,333 units (“Units“) at $0.09 per Unit with each Unit comprised of one common share in the capital of the Company (a “Common Share“) and one-half of one Common Share purchase warrant (a “Warrant“). Each whole Warrant is exercisable for one Common Share at a price of $0.18 per share for a period of 24 months from closing. Proceeds from the Offering will be used for working capital purposes and exploration activities at the Shot Rock and Root & Cellar properties.