Northern Shield Identifies New Area of Mineralization at Root & Cellar Gold-Copper-Tellurium Project, Newfoundland

OTTAWA, ON, June 27, 2023 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that it has identified what it interprets to be sub-crop of a silicified and pyritic unit that resembles the three boulders containing visible gold ("VG"), previously found at the Root & Cellar Gold-Copper Project ("Root & Cellar" or the "Project" or the "Property"). Root & Cellar is located on the Burin Peninsula in southeastern Newfoundland. Northern Shield can earn up to a 100% interest in the Project, which is being explored for epithermal gold-silver and porphyry-copper type mineralization, both associated with highly anomalous tellurium (Te).

Figure 2 (CNW Group/Northern Shield Resources Inc.)

998903 (CNW Group/Northern Shield Resources Inc.)

The new mineralization believed to be sub-crop is located approximately 100 metres up-ice from the three VG-bearing boulders and at the intersection of north-south trending structures and the contact of an east-west trending magnetic unit (Figure 1). The rocks show strong silicification and pyritization subsequently brecciated and cut by a later stage of pyrite-bearing (Figure 2) vuggy quartz veins. Recent work has also revealed and pinpointed several more north-trending structures throughout the Property, but a higher concentration of these structures is noted passing through the central portion of the Conquest Zone.

"This new area will be targeted by further trenching and a shallow-hole drilling program that is currently being planned to test an IP chargeability anomaly that largely sits at, or very near surface. In this area, the magnetic unit appears to have trapped and focussed the flow of the gold-bearing fluids along the contact."

- Ian Bliss, Northern Shield President and CEO

About Northern Shield Resources

Northern Shield Resources Inc. is a Canadian-based company known as a leader in generating high-quality exploration targets that views greenfield exploration as an opportunity. An opportunity to find a Tier 1 asset, near surface, and at relatively low cost. It implements a model driven approach in exploration to reduce any risk associated with early-stage projects for ourselves, our shareholders, and the environment. It is this approach that led to the discovery of an alkaline driven gold-silver-tellurium-porphyry copper system at its Root & Cellar Project in Newfoundland.

Forward-Looking Statements Advisory

This news release contains statements concerning the exploration plans, results and potential for epithermal gold deposits, and other mineralization at the Company's Root & Cellar Property , geological, geophysical and geometrical analyses of the properties and comparisons of the properties to known epithermal gold deposits and other expectations, plans, goals, objectives, assumptions, information or statements about future, conditions, results of exploration or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. 

Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward–looking statements because Northern Shield can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield and described in the forward–looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties involved in mineral exploration and analysis.

The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward–looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Northern Shield Resources Inc.

Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: [phone], Fax: [phone], [email protected]