North Thunder Bay Mining Expects Inflation to Maintain Higher Prices for Gold

Toronto, Canada - April 18, 2011 - North Thunder Bay Mining Co. Ltd., Deutsche Börse symbol: 84N (www.norththunderbay.com), expects gold prices will reach new highs in the foreseeable future. Much of this will be driven by emerging markets in Asia, and more specifically, China.

In the first quarter, gross domestic product in China expanded at a higher rate than anticipated by economists, rising 9.7 percent from a year earlier, a report showed last week.

Economists had expected a March inflation rate of 5.2 percent, according to the median forecast in a Bloomberg survey. Consumer prices in China, the world's fastest growing major economy, rose 5.4 percent in March, the quickest pace since 2008, exceeding the government's 2011 target for a third month in a row.

In response, Chinese Reserve ratios will rise a half point from April 21, the People's Bank of China said on its website last week, pushing the requirement to a record 20.5 percent for the biggest lenders. The move came less than two weeks after an interest- rate increase.

These factors are expected to push the value of gold even higher. Immediate-delivery bullion, gained as much as 0.4 percent to $1,479.35 an ounce and was at $1,476 at 2:03 p.m. in Singapore. Gold for June delivery in New York climbed to an all-time high of $1,480.50 this month.

Gold will climb to $1,600 an ounce this year, according to researcher GFMS Ltd. Total gold demand gained for a third consecutive year in 2010, aided by a 66 percent jump in sales of bars, particularly in China, the researcher said this week.

In terms of potential upside movement, consideration should be given to the fact that adjusting historical highs to current value dollars leaves additional upside potential on the table.

Higher gold prices are good news for the Company's Lubo-Boneng copper and gold mine, and make the development of the prospect that much more attractive to potential venture partners.


Disclaimer & Safe Harbor Statement:

This release may contain certain 'forward-looking statements' with respect to certain of North Thunder Bay Mining Co.'s plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will' and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause North Thunder Bay Mining Co.'s actual results to differ materially from those anticipated. North Thunder Bay Mining Co. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which North Thunder Bay Mining Co. operates. The actual results that North Thunder Bay Mining Co. achieves may differ materially from any forward-looking statements which are based on management's beliefs and opinions at the time the statements are made. North Thunder Bay Mining Co. does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change.



For further information please contact:

North Thunder Bay Mining Co. Ltd.
Medrado Pineda, CEO
Telefon: +1-416-800-6000
Email: info@norththunderbay.com
http://www.norththunderbay.com

North Thunder Bay Mining Co.
1 Hunter Street East
Hamilton, Ontario
L8N 3W1, Canada