Northern Iron Corp. Acquires Five Contiguous Mineral Claims

Northern Iron Corp. (TSXV:NFE,OTCQX:NHRIF,FWB:N8I) announced it has signed an agreement to acquire five mineral claims.

As quoted in the press release:

The Claims are adjacent to the past producing Griffith mine, situated east and south of the claims acquired by the Company in January, 2010.  The Griffith mine produced iron pellets and sponge iron from 1968 to 1986 before being shut down due to uneconomic iron prices.

In consideration for the 100% interest in the claims, Northern Iron will pay the Vendor $6,000 in cash and issue 100,000 common shares of the Company at a deemed price of $0.30 per share.

Click here to read the Northern Iron Corp. (TSXV:NFE) press release.