NioGold Mining Corporation
TSX-V Symbol: NOX
Frankfurt Symbol: NG1
News
Release
NIOGOLD DISCOVERS HIGH-GRADE GOLD ZONE AT MARBAN
WITH INTERSECTIONS OF 18.11 G/T AU OVER
3.7 METRES AND 31.68 G/T GOLD OVER 2.2 METRES
Val-d�Or, Quebec, November 5, 2008: NioGold Mining
Corporation (TSX-V:NOX) (Frankfurt:NG1) (�NioGold�) is pleased to report on the
2008 diamond drilling program on the Marban Block property located in the
Malartic Gold Camp, Abitibi region, Quebec, where the Company has completed 61
holes for 20,900 metres (MB-08-32 to MB-08-92) in 2008 over the former Marban
Mine sector. Results for holes MB-08-32 to MB-08-57 were previously
released.
Assay results were received for 7 holes (MB 08 069 to
MB 08 75) that targeted the near surface Wedge Zone (WZ) and the dip extensions
of the Mine Zones (MZ). A high-grade gold mineralised structure was
discovered within the hangingwall ultramafic units (HWUM) located above and to
the north of the WZ. Best results include:
� MB-08-070: 6.91 g/t Au over 1.2 metre
(HWUM)
� MB-08-071: 6.14 g/t Au over 2.4 metres (WZ)
� MB-08-072: 18.11 g/t Au over 3.7 metres (HWUM)
� MB-08-073: 31.68 g/t Au over 2.2 metres (HWUM)
� MB-08-074 : 7.65 g/t Au over 4.6 metres included in 1.06 g/t Au
over 73.4 metres (MZ)
� MB-08-075: 16.60 g/t Au over 1.2 metre (HWUM)
The Company is very excited with the results that once
again prove the potential for the discovery of high-grade zones over the Marban
Mine sector. Drilling since late 2006 has confirmed that the Marban gold
mineralised system is much larger than previously known with the:
� Discovery of the near surface gold
mineralisation within the WZ and HWUM;
� extension of the MZ up to 500 metres to the west (West Extension
target);
� deep drilling that returned notable gold intersections up to depths of
-700 metres;
� East extension of the system not yet investigated.
Results for holes MB-08-069 to MB-08-075 can be
downloaded in PDF format from:
Results for holes MB
08-58 to MB-08-068, drilled over the West Extension target, are being
compiled. Reported intervals are in core lengths but are inferred to be
close to true width as the holes were drilled perpendicular to the general
structural trend. Readers are invited to review the Marban drilling
surface plan and schematic cross-section available at www.niogold.com/marban.
Quality
Assurance / Quality Control and Qualified Persons
Diamond
drill holes were drilled with NQ-size core in order to obtain larger sample
volumes for the mineralised zones. The core was delivered by the drilling
contractor to NioGold�s facilities located at the Norlartic Mine site.
The core was photographed for reference, logged and mineralised sections were
sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half
core samples were bagged, sealed and trucked to Activation Laboratories Limited
(�Actlabs�) in Ancaster, Ontario, an accredited laboratory. The remaining
core is stored on site for reference. Samples were assayed by the
fire-assay method using an atomic absorption finish on a 50-gram pulp split.
A quality assurance and quality control program (QA/QC) was implemented by
NioGold and the laboratory to insure the precision and reproducibility of the
analytical method and results. The QA/QC program includes the insertion
of standards, blanks and field duplicates in the sample batches sent to the
laboratory and a systematic re-assaying of samples returning values above 2 g/t
Au. As well, 5% of the pulps are sent to Bourlamaque Assay Laboratories
Ltd. in Val-d�Or for check assaying.
This news
release was prepared by Rock Lefran�ois, P.Geo. (OGQ), the Company�s
Vice-President and Qualified Person as defined by National Instrument
43-101. The drilling is being conducted under the supervision of Yan
Ducharme, M.Sc., P.Geo. (OGQ), also a Qualified Person as defined by National
Instrument 43-101.
NioGold
Mining Corporation � � The Golden Highway Runs Through NioGold �
NioGold
Mining Corporation is a junior exploration company primarily focused on
GOLD. The Company�s main properties are the Camflo West and the Marban Block
located in the Malartic and Val-d�Or Mining Camps, Abitibi, Quebec. The
camps have produced over 27 million ounces of gold and presently encompass
several active advanced exploration and mine development projects such as
Canadian Malartic (Osisko Exploration), Kiena (Wesdome), Midway (Northern Star
Mining), Goldex (Agnico-Eagle) and Lac Herbin (Alexis Minerals). The
Marban Block encompasses three former gold producers, namely the Norlartic,
Kierens (First Canadian), and Marban mines that collectively produced over
590,000 ounces of gold.
NioGold�s
experienced and qualified technical team will ensure the successful advancement
of the Company�s projects towards the highest quality mineral resources.
NioGold invites you to visit the company website at www.niogold.com. For information on NioGold
Mining Corporation contact:
This Press
Release includes forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements of historical fact,
are to be considered forward looking. There can be no assurances that such
statements will prove accurate and, therefore, readers are advised to rely on
their own evaluation of such uncertainties. The TSX Venture Exchange or the
Frankfurt Stock Exchange did not approve nor do not accept responsibility for
the adequacy or accuracy of this news release.
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