Mr. Ian Bliss reports

NORTHERN SHIELD CLOSES FIRST TRANCHE OF FINANCING

Northern Shield Resources Inc. has closed the first tranche of a multifaceted, non-brokered, private placement of 5,975,000 units for total proceeds of $242,500.

The offering comprised i) 5,625,000 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 for gross proceeds of $225,000 with each warrant exercisable for one common share at a price of 10 cents per share within 24 months of the closing and ii) 350,000 flow-through units at a price of five cents per flow-through unit for aggregate gross proceeds of $17,500 with each flow-through unit consisting of one common share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each whole FT warrant is exercisable for one common share at a price of 12.5 cents per share within 24 months of the closing.

The proceeds will be used to finance a planned 3,000-metre drilling program designed to test a large 3-D magnetic model with local, coincident IP chargeability anomalies that underlie part of the Conquest zone at Root & Cellar. Drilling in 2023, along with the extension of the Discovery trench in 2024, identified multiple occurrences of visible gold with grades of rock grab samples up to 78 grams per tonne Au (see company news release, Sept. 5, 2024). A 3-D model of the magnetic low that underlies part of the Conquest zone shows the Discovery trench area that was successfully drilled in 2023 to be the very top of an up-flow or feeder zone of an intact epithermal system.

Closing of the offering is subject to certain customary conditions, including, without limitation, final approval of the TSX Venture Exchange, and all of the securities issued under the offering will be subject to a four-month-and-one-day statutory hold period. The company anticipates closing an additional tranche in the next 10 days.

Technical information in this news release was reviewed and approved by Christine Vaillancourt, PGeo, the company's chief geologist and a qualified person under National Instrument 43-101.

About Northern Shield Resources Inc.

Northern Shield Resources 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. The company 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, who discovered the mineralization, and then its advancement to a large gold-silver-tellurium system.

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