Northern Shield Identifies Substantial New Gold Target at Root & Cellar; Fieldwork Continues to Uncover New Mineralization

OTTAWA, Aug. 16, 2022 - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that the Company has identified substantial new targets and continues to uncover new mineralization at the Root & Cellar Gold - Copper Project ("Root & Cellar" or the "Project"). 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 and porphyry-copper type mineralization.

The two targets are located immediately east of the current Conquest Zone and is identifiable by a distinct and strong magnetic low. The larger of the two has a strike-length of about 550 meters. The last line of the IP survey grazes the western edge of the magnetic low and displays a moderately strong IP chargeability anomaly that coincides with, or. underlies the target. Except for a small portion of the smaller target, both targets are in a low-lying area and covered by bog. What appears to be sub-cropping mineralization was uncovered at the western tip of the smaller target coinciding with a near surface segment of the IP anomaly.

A half dozen other mineralized boulders were located nearby. These are all down-ice from the newly identified targets. Assays are pending for all samples.

"Fieldwork and thorough integration and analysis of the geological datasets continue to define and build confidence about the presence of a vast and largely intact epithermal gold system centred on the Conquest Zone."

- Ian Bliss, Northern Shield President and CEO

This press release was reviewed by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.

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.