Northland Buys Properties in Preparation for the Hannukainen Mine in Finland
(Thomson Reuters ONE) -
Luxembourg, June 7, 2011: Northland Resources S.A. (TSX: NAU, OSE: NAUR,
Frankfurt: NPK - "Northland" or "the Company") is pleased to announce that the
Company and the Finnish state enterprise Metsähallitus have entered into a
preliminary agreement, whereby Metsähallitus agrees to sell to Northland real
estate located in the Äkäsjoki region of the Kolari municipality, in northern
Finland.
The agreement includes 69 separate lots in the Äkäsjoki region with a total of
9,710 floor square metres of permitted building space and three lots located in
the Hannukainen region belonging to Metsähallitus. The total purchase price
amounts to approximately EUR 4 million. The agreement is expected to be
finalised in August 2011.
"Northland will use the acquired land as part of its planned compensation
package for the land and real-estate acquisition within the Hannukainen area,
where the planned iron ore mine and process facility will be located", says
Jukka Jokela, Vice President of Northland's Finnish Operations.
Northland is a development-stage mining company with a portfolio of iron ore
projects in northern Sweden and Finland. The Company's Kaunisvaara Project will
exploit magnetite iron ore deposits, feeding a single, multi-line processing
facility in Sweden. The process yields a very high-grade, high-quality magnetite
iron concentrate. The Company is also preparing a Definitive Feasibility Study
for the Hannukainen Iron Oxide Copper Gold Project in Kolari, northern Finland.
Metsähallitus is a state-owned enterprise that runs business activities while
also fulfilling many public administration duties. The organisation administers
more than 12 million hectares of state-owned land and water areas. More
information on www.metsa.fi
On behalf of the Board
"Karl-Axel Waplan"
President & CEO
Northland Resources S.A.
For more information, please contact:
Karl-Axel Waplan, President and CEO: +46 705 104 239
Jukka Jokela, VP Finnish Operations: +358 400 159 610
Anders Antonsson, Vice President Investor Relations: +46 709 994 970
Marguerite Manshreck-Head, Investors Relations, Canada: +1 647 224 7882
Or visit our website: www.northland.eu
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northland Resources S.A. via Thomson Reuters ONE
[HUG#1521644]
Unternehmensinformation / Kurzprofil:
Datum: 07.06.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 55341
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"Northland Buys Properties in Preparation for the Hannukainen Mine in Finland"
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