Northern Shield Samples Significant Cobalt from its Five Island Property, Nova Scotia

OTTAWA, May 31, 2018 /CNW/ - Northern Shield Resources Inc. ("Northern Shield" or the "Company") (TSXV: NRN) is pleased to announce the results of seven (7) grab rock samples recently received from the Five Island Cu-Au-Co Property (the "Property) in Nova Scotia. The Company, through its wholly owned subsidiary, Seabourne Resources Inc., can earn up to an 80% interest in the Property pursuant to a recently announced Option Agreement (see News Release, May 22, 2018).

Five of the seven grab samples collected assayed between 0.23% and 0.57% Co and up to 0.19 g/t Au. The mineralization is hosted in a highly sheared, bleached, brecciated and veined basalt located at the margin of a granitic intrusion. The basalt shows multiple phases of alteration and deformation. All seven samples were collected within about a 25 metre radius of each other. Most of the rock samples collected were likely sub-crop though at least one appears to be the top of bedrock.   

A stream sediment sample analysed by the Nova Scotia Department of Natural Resources assaying 650 ppm cobalt (0.07% Co) occurs 700 metres west from the cobalt showing, suggesting possible continuity of mineralization along the contact from the cobalt discovery to the stream that hosts the anomalous sediment sample.

Further reconnaissance of the Property will commence next week. Since overburden is shallow, trenching of the exposed mineralization is also being planned to map the bedrock and determine the extent of mineralization. The Property is being explored contemporaneously with the Shot Rock Property where the first batch of stream sediment and rock samples have recently been shipped for analysis. Shot Rock is being explored for epithermal-style gold mineralization likely related to the Cobequid-Chabucto Fault which links the two property areas.

The style of mineralization and geologic setting is similar to large Iron Oxide Copper Gold mines in Australia such as Olympic Dam, Ernest Henry and those in the Cloncurry district, some of which contain relatively high amounts of cobalt. The host rocks here are also brecciated and highly altered.

"We are encouraged by the potential for this style of mineralization on the Five Island Property that has not been effectively explored previously as indicated by our early successful results. We will focus work on a series of secondary structures whose interaction with the granite seems to influence the mineralization by creating dilatant zones that are then exploited by mineral bearing fluids," explains Northern Shield President and CEO, Ian Bliss.

The programs are being overseen by Christine Vaillancourt, P. Geo., the Company's Chief Geologist and a Qualified Person under National Instrument 43-101. Samples were analyzed by ALS Global in Sudbury, Ontario and in Vancouver, BC, for Au by Fire Assay with ICP-AES finish and base metals by four acid digestion and ICP-AES. All standards and duplicates by ALS meet targeted values.

Northern Shield Resources Inc. is a Canadian-based company focused on generating high-quality exploration programs with experience in many geological terranes. It is known as a leader in executing grass roots exploration program for Ni-Cu-PGEs and utilizing expertise and innovation toward working on other deposit types. Seabourne Resources Inc. is a wholly-owned subsidiary of Northern Shield focussing on epithermal gold and related deposits in Atlantic Canada and elsewhere.

Forward-Looking Statements Advisory

This news release contains statements concerning the exploration plans, results and potential of Co-Cu-Au IOCG-type, and other mineralization at the Company's Nova Scotia properties, geological, and geometrical analyses of the properties and comparisons of the properties  to known Co-Cu-Au IOCG deposits in Australia and elsewhere, and other expectations, plans, goals, objectives, assumptions, information or statements about future, conditions, results of exploration or performance that may constitute forward-looking statements or information under applicable securities legislation.  Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.

Although Northern Shield believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward‑looking statements because Northern Shield can give no assurance that such expectations will prove to be correct.  Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Northern Shield and described in the forward‑looking statements or information. These risks and uncertainties include, but are not limited to, risks associated with geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and the general risks and uncertainties involved in mineral exploration and analysis.

The forward-looking statements or information contained in this news release are made as of the date hereof and Northern Shield undertakes no obligation to update publicly or revise any forward‑looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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.

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