Northland Signs the First Two Agreements for the Construction of Kaunisvaara
LUXEMBOURG, LUXEMBOURG -- (Marketwire) -- 12/20/10 -- Northland Resources S.A. (TSX: NAU)(FRANKFURT: NPK)(OSLO: NAUR) ('Northland' or 'the Company') is pleased to announce that it has signed the first two agreements with suppliers who will begin the construction of the Kaunisvaara project.
On December 14, 2010 the Board of Directors of Northland gave approval to move forward on the Kaunisvaara project.
The signing took place at the Ground Breaking Celebration in Kaunisvaara and in the presence of the Governor of Norrbotten and the Mayor of Pajala as well as members of Parliament. Agreements were signed with Peab AB ('Peab'), one of the Nordic countries' leading companies in the field of construction and civil engineering and with Vattenfall Distribution AB ('Vattenfall'), a leading Northern European energy company. Both the Chief Executive Officer of Peab, Mats Paulsson and the Head of Nordic Distribution for Vattenfall, Annika Viklund were present for the Celebration and the signing.
The Agreement with Peab consists of pre-development work such as the construction of roads, trenches and dykes within the mine area.
The Agreement with Vattenfall is to build two new over-head power lines, one of 130kV and one of 40kV which will supply the mine with sufficient electrical power. Karl-Axel Waplan, President and Chief Executive Officer of Northland said 'It's great to be moving into the construction phase after all the hard work of the past two years.'
Northland is a development-stage mining company with a portfolio of iron projects in northern Sweden and Finland. Northland's Kaunisvaara Project contemplates the staged development of magnetite iron ore deposits that would provide feed to a single, multi-line processing facility in Sweden, producing a high-grade, high-quality magnetite iron concentrate. The results of the Feasibility Study on the Kaunisvaara Project were released September 27, 2010.
Karl-Axel Waplan, President & CEO
Northland Resources S.A.
Contacts:
Northland Resources S.A.
Karl-Axel Waplan
President and CEO
46 705 104 239
Northland Resources S.A.
Anders Hvide
Executive Chairman
47 92 88 98 58
Northland Resources S.A.
Eva Kaijser
Chief Financial Officer
46 70 932 09 01
Northland Resources S.A.
Marguerite Manshreck-Head
Investors Relations, Canada
1 647 224 7882
www.northland.eu