November 2, 2007
Northern Star Mining (NSM-TSXV)
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Northern Star Mining
(NSM-TSXV) has 3000 drill core samples (part of a 30,000 metre drill program
still underway with two drill rigs) in the assay lab from the Midway Gold
Project (the old Malartic Mine) near Val d’Or, Quebec.
The samples have been at the lab for a long time and we hope we will see
results come out in the next week or the week
following.
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Northern Star Mining has discovered 14 mineralized lenses, which are
within the first 1500 feet of surface and have a strike length of over 3000
feet. The company also drilled a
hole that intercepted the zone at a depth of 5300 feet where they hit 7
mineralized lenses from this deep drilling. The economic “zone” gets wider at depth,
which really adds to the tonnage.
Each lens runs approximately one quarter ounce to one third ounce gold/ton. The old Malartic mine
mined 20 mineralized lenses of about 90,000 ounces of gold each. It should also be noted that Agnico
Eagle is mining almost two miles deep west of Northern Star Mining, with exceptional profitability.
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Northern Star has also been
working on getting the last of six crown pillars (the former roof of the old
mine) up to engineering standards so that they can start underground drilling
and bulk sampling. Northern Star
inherited two shafts on the property; replacement costs would be about $150
million.
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The company right next door
to Northern Star Mining, Osisko, just did a $75 million bought deal this week
and this company was trading at $13.00 pre split. Northern Star Mining trades
for 0.95 cents. Osisko has a large (6 million ounce) lower grade deposit of gold
which occurs in what are called the Pontiac sediments; these sediments are also
found on Northern Star’s property and were drilled as part of Northern Star
Mining’s 30,000 metre drill program.
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Northern Star just announced
the acquisition of the Callahan property.
Six companies were bidding on it and Northern Star won. The property is one kilometer north of
the TransCanada
Highway and is adjacent to the northeast of their
Midway Gold Project. To quote
directly from the October 30, 2007 news release, “the company’s geologists and
consultants believe that potential for a mid-tier gold producer is considered
moderate to high on the Callahan project alone.”
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The website for Northern Star
Mining is www.nsmgold.com.
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If you wish we can send you
the latest power point on the company (email us for a copy) and we can be
reached early in the morning on our cell phones: Robert A. Young (the RAYA
Group)– 604-307-7797 or Heather Conley (Bsch Geo) – 604-376-9202. Our North American toll free is
1-877-626-2121.
 
