Northern Shield Finds More Visible Gold in Outcrop at Root & Cellar Gold-Silver-Tellurium Project, Newfoundland

OTTAWA, Aug. 13, 2024 - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce that trenching has uncovered outcrop (Figure 1) containing visible gold (VG) in the Conquest Zone at the Root & Cellar Property ("Root & Cellar" or the "Property"), located on the Burin Peninsula in southeastern Newfoundland. The Property is being explored for epithermal gold mineralization and associated porphyry copper systems and includes 5 gold zones over a 6-kilometre strike-length. Tellurium (Te), a critical metal, is associated with four of the showings and also with some of the copper mineralization.

Visible gold (Figure 2a, b) was found 25 metres west of the Conquest Discovery trench (where visible gold has previously been identified) and immediately behind the collar of drill hole 23RC-21, completed last year which also intersected visible gold. Four patches of fine-grained VG were noted in a single sample (Figure 2b) from the outcrop in quartz-hematite veinlets (Figure 1) associated with intense chlorite alteration, coarse pyrite and fine marcasite with the veins cutting a strongly silicified/brecciated unit with abundant marcasite. Although this new occurrence is proximal to drill hole 23RC-21, where VG was previously noted, the mineralization styles are different suggesting multiple mineralization phases. Colloform-crustiform, banded, quartz veins (Figure 3) were also noted in the outcrop. Assays are pending.

"All datasets, and recent studies, conclude that this area is the upper most portion of an up-flow zone of an epithermal system, which includes remnant sinter material. Sinters typically form above or adjacent to epithermal vein deposits. It is unusual to see so much gold at the sinter level of an epithermal system and its relative abundance here bodes well for what could be found deeper in the system. A sub-vertical IP chargeability anomaly coinciding with a magnetic low feature, underlies this area with the geophysics and surface sampling suggesting that this target is just one "branch" of a much larger epithermal vein system."

- Ian Bliss, President and CEO, Northern Shield

Technical information in this news release was reviewed and approved by Christine Vaillancourt, P.Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101.

Webinar: Join CEO Ian Bliss for a live webinar on Thursday August 15th for additional context. He will be available for live questions.

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 to find a Tier 1 asset, near surface, and at relatively low cost. We implement a model driven exploration approach to reduce the risk associated with early-stage projects for ourselves, our shareholders, and the environment. This approach led us to option the Root & Cellar Property from a Newfoundland prospector, who discovered the mineralization, and then its advancement to a large gold-silver-tellurium system.

Forward-Looking Statements Advisory
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.