logo
logo
toggle menu

TSX:NM
$1.48 -0.06

 

Gold exploration and development in Nevada

View Project

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

View Project

Permitted, open-pit, recent-producing mine

View Project

Additional Carlin-style deposits targeted for resource expansion

View Project

Management team with strong success

View Project

15,000m Drill Program in 2018

Read More

About Us

Northern Empire Resources Corp. (TSXV: NM) (OTC: PSPGF) is expanding and discovering heap leach gold deposits in Nevada. The Company presently has initial resource statements on four heap-leachable deposits at the 100%-owned Sterling Gold project, including the high-grade, fully permitted Sterling Mine. Using a 0.3 g/t cut-off the pit constrained inferred resources on the property total 947,000 with an average grade of 1.26 g/t Au. For further information on the Sterling Project, please refer to the technical report on the Sterling Project dated July 12, 2017, found on the Company’s website and SEDAR. The Company is well-financed and is aggressively drilling all four deposits in 2018 to increase resources and explore for new discoveries on the district-scale land package. Founders and management have a track record of increasing shareholder value through discovery, project development and M&A in leadership positions at success stories such as Newmarket Gold, Kaminak Gold, Underworld Resources and International Royalty Corp.

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

Email Signup

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