NewNorth announces conditional sale of property in Fort McMurray

CALGARY, May 30, 2012 /CNW/ - NewNorth Projects Ltd. ("NewNorth") (TSXV:NNP) today announced that a conditional agreement for sale has been signed for a commercial property in Fort McMurray, Alberta.  The property is held in a partnership called the Riviera Suites Hotel Limited Partnership and NewNorth holds a 50% interest in the partnership.  

The transaction is expected to be completed in the third quarter of 2012.

The property is located at 8124 Franklin Avenue in Fort McMurray, Alberta and is 1.087 acres in size.

NewNorth is an integrated land and building development Corporation operating in Alberta and the Northwest Territories.

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 release.

The contents of this release have not been approved or disapproved by any securities authority or stock exchanges.

Mr. Greg N. Herndier, Chief Executive Officer or Mrs. Shannon Cook, Controller at [phone]