Pierre Caland Acquires Ownership of Securities of Northern Gold Mining Inc.

Toronto, Ontario--(Newsfile Corp. - December 19, 2013) - Pierre Caland of Ruttimattstrasse 16, Gstaad, Switzerland, 3780, announces that he has acquired indirect ownership and control of an aggregate of 7,814,000 common shares ("Shares") of Northern Gold Mining Inc. (TSXV: NGM) (the "Reporting Issuer") by way of a series of purchases made through the facilities of the TSX Venture Exchange (the "Purchases") at an average price of $0.033 per Share.

The details of Mr. Caland's interests in the Reporting Issuer following the Purchases are as follows:

  • Wallington Investment Holdings Ltd. ("Wallington") owns 14,675,015 Shares, or approximately 5.25% of the issued and outstanding Shares on a non-diluted basis. Wallington also holds 3,750,000 Share purchase warrants ("Warrants") exercisable for 3,750,000 Shares at a price of $0.55 per Share until November 1, 2014;
  • Bomoseen Investments Ltd. ("Bomoseen") owns 625,000 Shares, or approximately 0.22% of the issued and outstanding Shares on a non-diluted basis; and
  • Mr. Caland is the registered owner of 27,419,500 Shares, or approximately 9.82% of the issued and outstanding Shares on a non-diluted basis.

Mr. Caland is the ultimate sole beneficial shareholder of, and exercises complete voting control over, Wallington and Bomoseen.

Prior to the Purchases, Mr. Caland had beneficial ownership and control of an aggregate of 34,905,515 Shares, representing approximately 12.50% of the issued and outstanding Shares on a non-diluted basis. Immediately following the Purchases, Mr. Caland has beneficial ownership and control of an aggregate of 42,719,515 Shares, representing approximately 15.29% of the issued and outstanding Shares on a non-diluted basis, and beneficial ownership and control of 3,750,000 Warrants.

Assuming the exercise of the Warrants, Mr. Caland would directly and beneficially own and control an aggregate of 46,469,515 Shares, representing approximately 16.42% of the issued and outstanding Shares on a partially-diluted basis.

The Shares and the Warrants are being held for investment purposes. In the future Mr. Caland may, depending on market and other conditions, increase or decrease his beneficial ownership of securities of the Reporting Issuer.

For further information or to obtain a copy of the relevant early warning report, please contact:

Dennis H. Peterson
Peterson Law Professional Corporation
390 Bay Street, Suite 806
Toronto, Ontario M5H 2Y2
Telephone: (416) 777-6772

 
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