Niogold Increases Norbenite Shear Holdings By Seven Claims In Malarctic Township, Quebec

NioGold Mining Corporation has gotten a 100% interest in seven new claims contiguous to its Camflo West property, leaving it with 14 kilometres of claims along the historical gold-bearing Norbenite Shear. The company got the claims from Teck Cominco, Ltd., in exchange for 500,000 shares of NioGold and a 2% Net Smelter Return. NioGold can buy back half of the NSR cut for $750,000 within 90 days of a production decision being made. The news release contains further details, and a summary of the exploration work done to date on those seven claims.

NioGold closed yesterday at 13 cents, down a penny. As of the time of this post, the bid is 13 cents and the ask is 14 cents.

The company's Google Finance web page is here.

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