Northern Sphere Mining Corp. Announces Closing of Private Placement

Toronto, Ontario--(Newsfile Corp. - November 9, 2015) - Northern Sphere Mining Corp. (CSE: NSM) ("Northern Sphere" or the "Company") is pleased to announce the closing of its previously announced private placement. The Company issued 7,904,084 common shares at a price of $0.10 per common share (the "Private Placement").

A portion of the common shares issued under the private placement was allocated to settle up to $560,000 in outstanding debt owed to certain creditors, approximately $267,000 of which are owed to insiders. Such common shares were issued at a price of $0.10 per share as payment in full for all such indebtedness.

Common shares issued pursuant to the private placement, including those common shares issued on the conversion of outstanding debt, are subject to a four-month hold period from the date of closing. The net proceeds from the private placement will be used towards ongoing development of mining assets and for general working capital.

Peter Tassiopoulos acquired 1,700,000 common shares representing approximately 18.0% of the outstanding common shares on the conversion of outstanding debt owing by the Company to Mr. Tassiopoulos. Mr. Tassiopoulos also controls 73,875 common shares indirectly, holds 30,000 common shares directly and 25,350 common shares through a registered retirement savings plan. Collectively, Mr. Tassiopoulos controls or holds 1,829,225 common shares representing approximately 19.4% of the outstanding common shares of the Company.

Mr. Tassiopoulos intends to hold the common shares for investment purposes. Mr. Tassiopoulos may, subject to market conditions and in accordance with applicable securities laws, make additional investments in or dispositions of securities of the Company, including additional sales or purchases of Common Shares. An early warning report respecting this acquisition will be filed on SEDAR at www.sedar.com and may be obtained by contacting John Carter, 69 Yonge Street, Suite 1010, Toronto, Ontario, M5E 1K3, Telephone: (905) 302-3843.

About Northern Sphere Mining Corp.

Northern Sphere Mining is dedicated to growth through the acquisition and development of mining assets, with an emphasis on near term production opportunities. Headquartered in Toronto, Ontario, Northern Sphere Mining has a strong project pipeline of properties with a focus on gold, silver and other metal production in pro-mining jurisdictions.

Cautionary Statements

This press release contains forward-looking statements which reflect Northern Sphere's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Northern Sphere disclaims any obligation to update these forward-looking statements other than as required by applicable securities laws.

For further information, please contact:

John Carter
Chief Executive Officer
Northern Sphere Mining Corp.
Tel: 905-302-3843

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.