Northern Shield Completes Private Placement for Gross Proceeds of $2.5 million
Ottawa, Ontario (June 29, 2011) – Northern Shield Resources Inc. (“Northern Shield”) [TSX-V: NRN] is pleased to announce that it has completed a non-brokered private placement (the “Private Placement”) for gross proceeds of approximately $2.5 million by issuing 4,900,000 common shares at $0.25 per common share and 4,026,704 common shares on a flow-through basis at $0.33 per common flow-through share. No warrants were issued. A total of $37,500 in finders’ fees were paid in connection with the Private Placement. The Private Placement is subject to the approval of the TSX Venture Exchange.