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Northern Gold Slightly Above 52-Week Lows; Inks Asset Purchase Deal with Barrick Gold Unit

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Northern Gold Mining Inc. (NGM.V) has entered into an asset purchase agreement with Lac Properties Inc., an indirect wholly-owned subsidiary of Barrick Gold Inc. (ABX.TO), pursuant to which Lac has agreed to sell to Northern Gold all of its right, title and interest in certain mining claims in Garrison Township, Ontario, located south and east of its existing Garrison Property.

The company can acquire the property in exchange for up to C$750,000 payable on or before closing the transaction, the issuance of an aggregate number of common shares of Northern Gold with a value limit of up to $250,000, and a back-in right for up to 51% interest in the Property should a resource totaling 4 million ounces be identified on the Property, to be granted to Lac.

NGM was down 7% to $0.065, almost hitting 52-week low 6 cents.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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