NORTHERN SECURITIES INC. TO LEAD FINANCING FOR CONQUEST RESOURCES LIMITED

NORTHERN FINANCIAL CORPORATION
(TSX: NFC)

TORONTO, Dec. 9 /CNW/ - Northern Securities Inc., a wholly owned subsidiary of Northern Financial Corporation (TSX:NFC), is pleased to announce that it has been engaged as lead agent, on behalf of a syndicate (the "Agents"), to raise $3,000,000 in a Flow-Through share financing (the "Offering") for Conquest Resources Limited  (TSXV:CQR) ("Conquest").

Conquest is exploring several gold projects in Ontario. These projects include the Alexander Gold Project at Red Lake and the Sunday Lake Property at Detour Lake in joint venture with Detour Gold Corporation.  Conquest anticipates Detour Gold will commence a drill program on the Sunday Lake Property in January 2011.  Conquest also holds 100,000 shares of Detour Gold Corporation.

The Flow-Through shares are priced at $0.22 per share. Completion of the Offering is subject to certain conditions, including approval by the TSX Venture Exchange and other regulatory agencies. The Offering is expected to be completed on or about December 22, 2010.

The Agents will be paid a commission fee of 7% in cash and 10% in broker warrants exercisable for common shares at $0.22 per share for a period of two years from closing.

About Northern Financial Corporation

Northern Financial Corporation wholly owns Northern Securities Inc., a full service investment dealer that provides financial advisory services to retail and institutional clients and investment banking services to small capitalization companies.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release. This press release may contain forward-looking statements with respect to the Company, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of the Company discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in the Management's Discussion and Analysis and Filing Statement of the Company which are available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on their behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and the Company has no obligation to update such statements.

For further information:

Matthew Cipolla
Investment Banking
Northern Securities Inc.
[phone]
Fax: [phone]