03:44 PM EST - Northern Shield Resources Inc. : announced that it has entered into an option agreement with Discovery Harbour Resources Corp. respecting its 100%-owned Wabassi property being explored for Nickel, Copper and Platinum Group Elements south of the "Ring of Fire" in northern Ontario. Under the option agreement, Discovery is able to earn a 51% interest in the Property by: (i) making an immediate cash payment to Northern Shield of $50,000; (ii) purchasing 800,000 Northern Shield shares at $0.25 per share for proceeds to Northern Shield of C$200,000; (iii) funding $1.25 million of exploration expenditures on the Property and issuing to Northern Shield 100,000 common shares of Discovery on or before March 31, 2011; and (iv) funding an additional $2.15 million of exploration expenditures on the Property and issuing to Northern Shield an additional 150,000 common shares of Discovery on or before March 31, 2012. Northern Shield Resources Inc.
shares V.NRN are trading down $0.01 at $0.12.
