Mr. Ian Bliss reports

NORTHERN SHIELD CLOSES PRIVATE PLACEMENT

Due to regulatory filing timelines, Northern Shield Resources Inc. has closed the non-brokered private placement financing announced on Dec. 11, 2024, for gross proceeds of $100,000.

The offering consisted of 2.5 million units at four cents per unit with each unit consisting of one common share in the capital of the company and one common share purchase warrant. Each warrant is exercisable for one common share at a price of 10 cents within 24 months of the closing. Proceeds from this offering, along with a flow-through offering completed at the end of 2024 for aggregate combined proceeds of $500,000, will be used primarily for working capital purposes and to complete further exploration at the company's Root & Cellar property. It is expected that an additional offering under similar terms will commence shortly.

A director of the company, Russell M. Richards, acquired all 2.5 million units for proceeds of $100,000. The issuance of securities to Mr. Richards constitutes a related-party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (Protections of Minority Security Holders in Special Transactions). For additional details regarding the insider participation, please see the company's press release dated Dec. 11, 2024.

Further details regarding the offering will be included in a material change report to be filed by the company in due course. Securities issued under the offering are subject to restrictions on resale for a period of four months and a day from the date of closing.

About Northern Shield Resources Inc.

Northern Shield is a Canadian-based company known as a leader in generating high-quality exploration targets that views greenfield exploration as an opportunity to find a Tier 1 asset, near surface and at relatively low cost. It implements a model-driven exploration approach to reduce the risk associated with early-stage projects for itself, its shareholders and the environment. This approach led the company to option the Root & Cellar property from a Newfoundland prospector, which discovered the mineralization, and then advanced a large gold-silver-tellurium and copper porphyry system.

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