Northern Shield Announces Appointment of Peter Walker as a Director and Additional Issuance of Units
Northern Shield Resources Inc. is pleased to announce that Peter Walker has been appointed as a director of Northern Shield.
Mr. Walker was the founder, President and CEO of Scandinavian Minerals Ltd., a public mineral exploration and development company listed on the Toronto Stock Exchange, from 1996 until its acquisition this summer by First Quantum Minerals Ltd. for in excess of $260 million. Mr Walker graduated in Mining & Exploration Geology in 1973 from the Royal School of Mines, Imperial College, London. He has more than 30 years of international experience in the metals and minerals industries, including marketing, trading and investment with companies such as Western Mining, Amalgamated Metal Corporation and the Metallurgical Group.
Mr. Ian Bliss, Northern Shield’s President and Chief Executive Officer, stated “We are delighted to have Mr. Walker join Northern Shield’s Board of Directors, his mining and public company expertise and industry contacts are a valuable addition to Northern Shield’s Board.”
Northern Shield granted options to acquire 150,000 common shares to Mr. Walker. The options have an exercise price of $0.59 per share and expire in five years.
Northern Shield also announces that it intends to complete an additional issuance of 250,000 units to Mr. Walker and 333,333 units to Mr. Boyce, both directors of Northern, on the same terms as Northern’s private placement announced on June 10, 2008. The units are priced at $0.60 and each unit consists of one common share and one-half of one warrant, with each whole warrant entitling the holder thereof to acquire one common share at a price of $0.85 for a period of 18 months from its issuance. Such issuances are subject to the approval of the TSX Venture Exchange.
Northern Shield is an innovative, results-driven Canadian company focused on PGE (platinum group elements) and diamond exploration in Ontario. Its mission is to create a successful mineral exploration company through technical excellence and efficient management, where success is measured by the identification and development of high-quality mineral exploration projects, which may ultimately be optioned, sold or developed for optimal benefit. For information on Northern Shield and its properties, please visit Northern Shield’s website at www.northern-shield.com.
For further information
Ian Bliss, President and CEO, Northern Shield Resources Inc., (613) 232-0459, Fax: (613) 232-0760, email@example.com
Source: Northern Shield Resources Inc.