OTTAWA, June 7, 2017 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that it has signed a binding option agreement with the Conseil de la Nation Innu de Matimekush-Lac John (CNIMLJ) for three claim blocks, totaling 82 claims, in Quebec (the "Agreement"). Under the terms of the Agreement, which is subject to TSX-V approval, Northern Shield can earn a 100% interest in the claims by reimbursing staking costs and issuing 100,000 shares on signing the agreement, 150,000 shares on the first anniversary of the agreement and a further 200,000 shares on the second anniversary.
The claims are located 60 kilometers E-NE of the town of Schefferville and cover ground that the Company believes to be highly prospective for Ni-Cu-(PGE).
The Company has also acquired, through map designation staking, 134 claims covering PGE and gold targets including a till sample collected by the Geological Survey of Canada that contained 66 grains of gold of which 34 are in pristine condition.
Exploration will commence on these new claims and Sé2 next week.
The exploration program is being led by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.
Northern Shield Resources Inc. is a Canadian-based company focused on exploring for platinum group element ("PGE") and nickel-copper-PGE deposits. It is known as a leader in grass roots exploration for Ni-Cu-PGEs and the understanding of magmatic systems as it applies to exploration.
