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TSX:NM
$0.9 -0.03

 

Gold exploration and development in Nevada

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Highest-grade oxide gold deposit in the western U.S.

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Permitted, open-pit, recent-producing mine

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Additional Carlin-style deposits targeted for resource expansion

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Management team with strong success

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Significant Drill Program in 2018

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About Us

Northern Empire Resources (TSXV: NM; USOTC: PSPGF) is a well-financed gold exploration and development company focused on an emerging gold district in southern Nevada. The Sterling Gold Project hosts four distinct deposits, including a fully permitted, open-pit mine, the Sterling Mine. The Sterling Mine is one of the highest-grade heap leach mines in the western United States. Northern Empire is led by an experienced team of professionals with an exceptional record of creating value for shareholders (Newmarket Gold, Kaminak Gold, Underworld Resources, International Royalty Corp). The Company completed a successful drill campaign in 2017 and will aggressively drill known mineralized zones in 2018 to expand resources and explore for new deposits on its 116 km2 land package.

Walker Lane Trend, Nevada

Sterling Mine

Investor Highlights

  • Fully permitted, open-pit heap leach project in Nevada
  • High-grade oxide gold deposits
  • Existing infrastructure
  • Total inferred resource of 709,000oz at 2.2 g/t Au with 1.0g/t cut-off
  • Exploration upside with district-scale potential
  • Working capital +C$15 million

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Northern Empire Closes $1.35 Million Private Placement

Northern Empire Resources Corp. (TSXV: NM) (the “Company” or “Northern Empire”) today announced the closing of its non-brokered private placement for gross proceeds of C$1,357,994.55 (the “Offering”).  The Offering was oversubscribed and the Company issued an additional 2,053,297 units to what was previously announced for a total of 9,053,297 units of the Company. 

Units were priced at $0.15 each and consist of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one additional common share at a price of C$0.25 per common share until January 5, 2018.

Northern Empire will apply the net proceeds of the Offering to hold and advance the Company’s portfolio of gold exploration projects in North America, including the Richardson Property gold project in Alaska, and for general corporate purposes.

The Company paid commissions to finders under the placement consisting of aggregate cash commissions of $44,939.69 and the issuance of an aggregate of 299,595 finder’s warrants.  Each finder’s warrant entitles the holder to purchase one common share of the Company at a price of C$0.25 per common share until January 5, 2018.

All securities issued or issuable under the offering are subject to a four-month hold period expiring on November 6, 2016, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.

About Northern Empire

Northern Empire follows the “Project Generator” business model to take advantage of the current market conditions in the resource sector to acquire low acquisition and low holding cost properties with significant exploration potential.  

Northern Empire’s experienced board and management team feels that executing the Project Generator business model is the most practical way to provide investors the potential excitement and value creation of mineral discoveries, without the financial risks and equity dilution of standard exploration programs.

ON BEHALF OF THE BOARD OF NORTHERN EMPIRE RESOURCES CORP.

“Michael G. Allen”

President and CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

This press release includes “forward-looking statements” including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Northern Empire Resources Corp.  Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Northern Empire does not assume the obligation to update any forward-looking statement, except as required by applicable law.

For further information contact:

Jeff Sundar, Director

Tel: 604 764 5944