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"NT Mining Completes Acquisition of the Valentine Mountain Project LAS VEGAS, NV -- (MARKET WIRE) -- 06/28/10 -- NT Mining Corporation (PINKSHEETS: NTMG) (the Company) reports that it has signed a formal agreement with Mill Bay Ventures Inc. to acquire a 100% interest in mining tenures located on Valentine Mountain on the south coast of British Columbia, Canada.
The basic terms of the agreement include a 3-year option lease to own, and payment will be a combination of cash, equity, and work commitments over the 3-year term of the lease.
The Valentine Mountain property includes an existing portable mineral processing mill, which will be available and utilized for production testing purposes on all NT Mining's current and future projects. The mill will be on a seasonal basis and it will be transported to the Northwest Territories this summer for the anticipated reopening of production of the Company's Bullmoose Mine. NT Mining is also planning on commencing a drilling program for Valentine Mountain project this year subject to the availability of the necessary funding.
About NT Mining Corporation: NT Mining Corporation is an exploration and development company conducting operations through its wholly owned Canadian subsidiary "Bullmoose Mines Ltd. The company's primary asset is the former producing "Bullmoose Gold Mine." The company plans to re-activate the mine upon completion of the necessary financing and commence operations in the summer of 2010. The mine consists of one mineral lease of 395 acres and 4 mineral claims of 4,771 acres, totaling 5,166 acres. Historical reports show a potential reserve of 1 million ounces of gold (Ross Grunwald P.Eng., 1984) is possible on the mineral lease. Management believes with the expanded area of 4 additional mining claims in 2007, upon completion of expanded drilling programs over the new claims, and on existing known vein structures, a potential of 3 million ounces of gold reserve is possible at the Bullmoose mine. To view a Geological technical report on the property, please click on the following link: http://ntminingcorp.com/reports/MitchellReport2008.pdf
Safe Harbor Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 -- forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at NT Mining Corp.'s stage of development. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof."
For more information contact: NT Mining Corporation Tel: 604.249.5001 Fax: 604.303.7773 Email: info@ntminingcorp.com http://www.ntminingcorp.com |