Mr. Ian Bliss reports

NORTHERN SHIELD CLOSES FINANCING - DRILLING TO COMMENCE IN JUNE

Northern Shield Resources Inc. has closed its previously announced (April 23, 2025) non-brokered private placement of 7.5 million units for total proceeds of $300,000.

The offering comprised 7.5 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 for aggregate gross proceeds of $300,000. Each warrant is exercisable for one common share at a price of 10 cents per share within 24 months of closing.

Proceeds from the offering, together with the $500,500 in proceeds from the company's previously completed offering of flow-through and non-flow-through units that closed on April 22, 2025, will be used for exploration expenses at the Root & Cellar property, focused on a diamond drill program at the Conquest zone, to commence on or around June 10, 2025. A drill contract has been signed with MCL Drilling, of Deer Lake, Nfld.

"We are excited to be starting this pivotal 3,000-metre drill program on the Conquest zone at Root & Cellar. This drilling program follows up on the 2023 program that identified the sinter and outflow zone, marking the top of an epithermal gold/silver system. It is unusual to see significant gold mineralization at the sinter level, and the visible gold found in the 2023 drilling and trenching programs bodes well for what may exist at greater depth in the boiling zone, where higher grades that are characteristic of low-sulphidation systems are expected. 3-D modelling of the magnetic low underlying the Conquest zone shows a compelling visualization of the epithermal system, with the sinter coinciding with the top of a branch that extends to approximately 800 m depth.

"Epithermal gold systems are renowned for their high grades of gold and silver grades, but a select few of them are also very large. Grab samples with values up to 111 g/t Au, 1,385 g/t Ag, 700 ppm Te and 10.5 per cent Cu (see company news releases, May 21, 2019, and Sept. 7, 2022) show the high-grade potential at Root & Cellar, however, the multiple data sets generated are also suggestive of a very large system.

"What makes the Root & Cellar property even more attractive is its location on the Burin peninsula, 10-minute drive from a paved highway and deepwater port and accessible by car. When geologists think of large-scale epithermal gold and porphyry copper systems, Newfoundland is not top of mind; however, out-of-the-box thinking and innovation have led us to a significant Au-Ag-Te discovery at Root & Cellar. When it comes to greenfield exploration for large, blind, epithermal systems, we don't believe the evidence or location gets better than this," Ian Bliss, president and chief executive officer, Northern Shield.

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.

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 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 minable deposit, 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 Northern Shield 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.

We seek Safe Harbor.