Northern Tiger Resources Receives YMIP Funding for Korat and Del Projects in the Yukon, Canada; Announces Resignation of CFO
July 18, 2013 — Edmonton, Alberta (Source: Marketwired) — Northern Tiger Resources Inc. (“Northern Tiger” or the “Company”) (TSX VENTURE:NTR) is pleased to announce that their Korat and Del Projects have been approved for funding under the Yukon Mining Incentives Program (“YMIP”). Through YMIP, the Yukon Government will fund 50% of the planned $70,000 exploration programs at each of the projects.
“We are pleased to have the Yukon Government approve two of the Company’s projects for YMIP funding,” says Greg Hayes, President of Northern Tiger. “The cost-sharing agreement allows us to advance two of our promising early stage projects on a very cost effective basis.”
The Korat Property is fully enclosed within Comstock Metal Ltd.’s (“Comstock”) QV Property, where a recent discovery has returned drilling results up to 2.3 g/t gold over 89.9 metres.
Korat hosts an 800-metre long gold-in-soil anomaly within a larger 1,600-metre pathfinder anomaly (see news release dated November 8, 2012). The Korat anomaly features a similar pathfinder geochemical suite and straddles the same prominent regional magnetic high feature that is closely associated with both Kinross Gold Corporation’s Golden Saddle deposit and Comstock’s new QV discovery.
An exploration program of in-fill soil sampling, rock sampling, mapping and prospecting has been planned, followed by trenching of promising targets. Similar exploration methodologies have been highly successful at identifying other recent White Gold discoveries.
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The DEL Project is approximately 30 kilometres southeast of the Capstone Mining Corp’s operating Minto Mine, and 10 kilometres north of Copper North Mining Corp.’s Carmacks Copper deposit.
Soil sampling in 2010 and 2011 outlined a 400-metre by 300-metre area of anomalous copper-in-soils that remains open to the west and to the south. In 2012, an IP and magnetic geophysical survey resulted in the definition of a moderate chargeability anomaly that partially overlapped the copper-in-soil anomaly. An expansion of both the soil grid and the IP survey has been planned to fully define the anomalous area and assist in identifying the most promising drill targets.
Mr. Darcy Ogrodnick has tendered his resignation as Chief Financial Officer of the Company to pursue other interests. Director Pamela Strand will take over as interim Chief Financial Officer.
“Mr. Ogrodnick has been a valuable member of the Northern Tiger’s management team since the Company’s inception in 2008,” says Greg Hayes, President of Northern Tiger. “We are sorry to lose his valuable contribution, but wish him the very best in his future endeavours.”
This News Release has been reviewed and approved by Dennis Ouellette, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101.
Northern Tiger Resources Inc. (TSX VENTURE:NTR) is a Canadian-based resource exploration company focused on gold and copper exploration in the Yukon, where it has a strong portfolio of projects. Drilling has intersected 4.6 g/t gold over 35.0 metres (including 106.2 g/t gold over 1.0 metre) at the Company’s flagship 3Ace Project in southeast Yukon. The Sonora Gulch copper-gold-silver porphyry project in central Yukon also has also returned significant drill results, including 0.45 g/t gold and 3.0 g/t silver over 234.0 metres.
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, “best-efforts” financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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