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Northland Resources Inc. (OSL:NAUR) October 29, 2008: Simon Ridgway, Chairman of Northland Resources Inc., reports that the Company is continuing to move its operational focus to its offices in Finland and Sweden.
"By moving all of the Company's operational functions to the Nordic region, we are actively demonstrating our commitment to the development of our iron projects in northern Sweden and Finland," said Northland's President, Buck Morrow.
Northland has completed much of the basic exploration required on its three main deposits, Tapuli, Stora Sahavaraa and Hannukainen. The Company is now focusing its efforts on two main directions: 1) exploration of the many satellite magnetite deposits elsewhere in northern Finland and Sweden, and 2) completing the wide range of engineering and development planning on which its future mining investment program will be based.
"Many of the toughest exploration and engineering choices are behind us," said the group's Chief Operating Officer, Bill Wagener. "Now we're moving as fast as we can to transfer our operational structure to the team of Nordic managers that we've assembled, under the leadership of Karl-Axel Waplan, Northland's European Managing Director, to turn the deposits into viable, producing mines."
In recent months the Company has recruited experienced leaders from within the mining industry to fill several key positions in the operational organization.
"We have an organization that now contains the experience base of a well established mining company. It gives us the operational strength that we need to build new mines in a country that has not seen projects of this magnitude in many years," says Karl-Axel Waplan.
Northland initiated the changes a few months ago, beginning with the replacement of its North American specialists with local Nordic expertise. Its operational activities in Sweden have since been established over a relatively short time period. At the same time, Northland's exploration activity has also been enhanced, for example by recruiting exploration manager Jukka Jokela in Finland.
"Our intention has always been to become a Nordic company that maintains its Canadian roots, and we are now largely Finnish and Swedish. Opening of the Company's Finnish headquarters in Kolari, completion of the office in Luleå, and our ongoing operations in Pajala, are clear examples of our working towards that objective," said Bill Wagener.
The new focus, managed by an experienced Nordic team, reinforces the transition Northland is making from the engineering planning stage to the operation and development stage of mining.
"One of the changes to Northland's development as a company is our recent addition of a purchasing manager, to assist in procuring the equipment needed for the large amount of work to be carried out on the ground in Pajala and later in Kolari," said Karl-Axel Waplan.
About Northland (www.northlandresourcesinc.com)
Northland is a well-structured, debt free mining company with a portfolio of high quality iron, gold, and base metal development projects in Sweden and Finland.
ON BEHALF OF THE BOARD "Simon Ridgway" NORTHLAND RESOURCES INC.
The Toronto Stock Exchange has neither approved nor disapproved the contents of this news release.
CONTACT INFORMATION Northland Resources Inc. Buck Morrow, President
Investor Relations: Europe, Deb Craig: Tel. + 46 70 638 4300, Jonas Lundstrom: Tel. +46 70 54 93 322 North America, Ralph Rushton: Toll Free: 1-866-719-8962
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
