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Wednesday, June 09, 2010 10:37:28 AM
2010-06-09 10:00 ET - News Release
LAS VEGAS, NV -- (MARKET WIRE) -- 06/09/10
NT Mining Corporation (PINKSHEETS: NTMG) (the Company) reports that it has signed a Letter of Intent ("LOI") with the owner of a gold property located on Valentine Mountain in southern British Columbia, Canada as previously reported in an earlier announcement. Both parties are now focused on moving forward to a formal agreement to complete the transaction.
This acquisition, in addition to the start of production on its 100% owned Bullmoose Mine in the NorthWest Territories, Canada, will allow the Company to greatly reduce costs and increase profitability by focusing on year round gold production By owning two properties, the Company can reduce risk and operational costs.
About NT Mining Corporation:
NT Mining Corporation is an exploration and development company conducting operations through its wholly owned Canadian subsidiary "Bullmoose Mines Ltd. The company's primary asset is the former producing "Bullmoose Gold Mine." The company plans to re-activate the mine upon completion of the necessary financing and commence operations in the summer of 2010. The mine consists of one mineral lease of 395 acres and 4 mineral claims of 4,771 acres, totaling 5,166 acres. Historical reports show a potential reserve of 1 million ounces of gold (Ross Grunwald P.Eng., 1984) is possible on the mineral lease. Management believes with the expanded area of 4 additional mining claims in 2007, upon completion of expanded drilling programs over the new claims, and on existing known vein structures, a potential of 3 million ounces of gold reserve is possible at the Bullmoose mine. To view a Geological technical report on the property, please click on the following link:
http://ntminingcorp.com/reports/MitchellReport2008.pdf
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