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Gold/Mining/Energy : Canadian Diamond Play Cafi
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To: Famularo who started this subject2/7/2003 6:49:07 PM
From: teevee  Read Replies (1) of 16207
 
Northern Empire gains Victoria Island landholding

Fri 7 Feb 2003

News Release

Mr. John Robins reports

NORTHERN EMPIRE'S LAND POSITION NOW IN EXCESS OF 10 MILLION ACRES
Northern Empire Minerals has acquired 15 exploration permits totalling over
900,000 acres on Victoria Island consisting of 13 permits in the Nunavut
Territory and two permits in the Northwest Territories.
The acquisition gives Northern Empire a strategic foothold in the emerging
Victoria Island diamond play and establishes the company as one of the
largest tenureholders in the region.
Three properties were acquired based upon research conducted by Northern
Empire personnel. Exploration work for the 2003 field season shall include
geochemical sampling, prospecting and geophysics.
In addition, Bernie Kennedy has been hired as investor relations manager
for the company. Mr. Kennedy brings to the company over six years in the
investor relations field.
The company also announces that it has agreed to grant incentive stock
options, subject to regulatory approval, for the purchase of a total of
704,000 shares at a price of 85 cents per share, in its capital stock to
individual directors and employees. The options will be exercisable for
five years from the date of the grant.
The Victoria Island acquisition brings Northern Empire's landholdings to
over 10 million acres. Northern Empire is one of the world's largest
holders of diamond exploration properties. The company now has diamond
exploration projects in the Coronation, Melville Peninsula, Victoria Island
and Rankin Inlet areas of Nunavut. In addition, the company has two diamond
projects in the Otish Mountains region of Quebec.
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