Northland Moves Forward on the Kaunisvaara Project and the Hannukainen DFS

Northland Resources S.A. (TSX:NAU) announces that it to begin the implementation phase of the Kaunisvaara project and to start the Definitive Feasibility Study for the Hannukainen project.

The press release is quoted as saying:

To start the DFS for the Hannukainen project. The PEA which was presented in May 2010 confirmed that the brown field project was technically feasible and financially positive. The results included an NPV of USD471 million and an IRR of 32.5% based on long-term prices of USD 1.10/dmtu Fe, USD 2.20/pound copper and USD 850/ounce gold.

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