Vancouver, British Columbia, June 29, 2012 - Northern Lights Resources (CNSX:NLE) begins trading on Canadian National Stock Exchange (CNSX).
InvestmentPitch.com has produced a "video news alert (http://www.youtube.com/watch?v=l46Q2IQ4Y14&feature=plcp)" which provides a brief overview of Northern Lights Resources. If this link is not enabled, please visit www.InvestmentPitch.com (http://www.investmentpitch.com/) and enter "Northern Lights" in the search box.
The company's IPO raised gross proceeds of $350,250 from the issuance of 3,502,500 Units at a price of 0.10 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one additional share at a price of $0.15 per share for a period of 24 months, expiring on June 28, 2014. Should the company's shares trade at or above $0.30 per share for a period of 20 consecutive trading days, the company may then accelerate the expiry date of the warrants to not less than 30 days following notice being given of such acceleration.
The company's main project is a 100% interest in the Misty Basin Project, which originally consisted of 4 claim blocks covering an area of 33,000 hectares in the Northwest Territories. The company recently disposed of one claim that was used solely for the company's camp site and was not part of the property upon which any exploration was planned, and was not considered material. The property is adjacent to Yukon, and approximately 400 kilometres northeast of Whitehorse.
A detailed high resolution helicopter-borne combined magnetic and gamma ray spectrometric survey was conducted over the southern half of the claims.
Soil geochemistry and prospecting led to the discovery of Showing "A" which exhibited elevated levels of silver, nickel, lead, zinc, copper, manganese and uranium. Interest in this area for uranium has been prompted by the results of a regional stream sediment and stream water geochemical survey previously carried out by the Geological Survey of Canada. Highly anomalous uranium readings were found clustered on and around the exposures of Cretaceous granite on the property.
The company is planning to interpret the airborne survey, to conduct soil geochemical sampling, mapping and rock sampling on and around showing "A" and other similar geological areas, as well as define diamond drill targets.
For more information, please visit the company's website at www.northernlightsresources.com (http://www.northernlights.com/) or contact Rick Timcke at 604-602-7166 or email rtimcke@northernlightsresources.com (mailto:rtimcke@northernlightsresources.com).
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