Northern Shield Raises $1.67 million
Ottawa, Ontario (May 14, 2009) – 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 $1,424,500 by issuing 15,827,777 shares and 6,733,889 warrants with each whole warrant exercisable for one common share at a price of $0.15 for a period of 18 months. The proceeds from the Private Placement will be used for exploration on Northern Shield’s properties and for general corporate purposes. Finder’s fees of $27,000 were paid to certain parties in connection with the Private Placement.