Increase In Malartic Project’s Gold Resources

 

VAL-D’OR - NioGold Mining Corporation reported that gold resources at the company's Malartic Project in northwestern Quebec have increased significantly as a result of new drilling and detailed modeling by Mine Development Associates ("MDA") of Reno, Nevada. Indicated resources for the Malartic Project now total 598,000 ounces (730% increase), while Inferred resources have increased to 361,000 ounces (34% increase). The gold resources are defined along a three-kilometre segment of the Norbenite-Marbanite fault zone, in and around the former Marban, Norlartic and Kierens gold mines, which collectively produced 600,000 ounces gold.

MDA estimated the gold resources in accordance with National Instrument 43-101 ("NI43-101") Standards of Disclosure for Mineral Projects using two unique gold grade cut-offs:

1) A 0.5g/t Au cut-off grade was applied to tabulate diluted Norlartic and Kierens resources located in the upper 200 metres from surface, which can reasonably be considered available for potential open-pit extraction, and a

2) 2.5g/t Au cut-off was applied to tabulate the deeper undiluted Norlartic and Kierens resources lying below 200 metres vertical depth from surface, as well as all of the Marban resources, that would reasonably require underground extractive methods.

The company’s address is 24549 53rd Avenue, Langley, BC V2Z 1H6.