Northern Lights Resources Extends Option Over Secret Pass Project

Northern Lights Extends Option Over Secret Pass Project

August 29, 2019 CSE Symbol: NLR

Vancouver, British Columbia. Northern Lights Resources Corp. (the “Company” or “Northern Lights” or “NLR”) announces that it has completed an addendum to the Secret Pass transaction agreement (as announced July 15, 2019) that extends the expiry date of the option from August 21, 2019 to September 6, 2019. This additional time was requested by Northern Lights to complete its due diligence review of the project information.

Northern Lights completed a two day site visit to the Secret Pass Project in Mohave County, Arizona over July 18 – 19, 2019. NLR management attended the site visit along with NLR contracted independent geologist Mr. Alan Morris, P. Geo. The two main areas where previous drilling and mining (the FM and Tin Cup) were reviewed along with several other prospects and old workings located in the southern part of the project license area. The due diligence visit included a review of core and sample storage facility in Kingman Arizona where the samples from previous exploration drilling are stored. A total of 14,000 meters of drilling was completed on the Secret Pass Project (126 holes including 114 reverse circulation and 12 core holes) between 1984 and 1991.

During the site visit, a total of 17 samples were collected from prospects and previous drilling pulps (6 rock samples and 11 pulp samples). The samples are being assayed by Bureau Veritas Acme Labs in Reno Nevada.

With the extension to the option expiry date, Northern Lights has until September 6 to complete its due diligence on the Secret Pass Project. The payment schedule to complete the transaction has also been revised in accordance with the extended option expiry date.

Under the revised terms, Northern Lights must complete the following consideration payments to complete the option agreement and acquire 100% interest in the Secret Pass Project:

• By September 13, 2019 Northern Lights will pay the sellers a cash consideration payments totaling of US$250,000; and
• Within 30 days following the exercise of the Option, Northern Lights will issue 2,000,000 common shares of Northern Lights to the sellers; and
• By October 15, 2019, a final payment of US$150,000 paid to the sellers.

Upon completion of the final payment on or before October 15, 2019, 100% ownership of the Secret Pass Project will be transferred to Northern Lights free of any third party royalties. Completion of the Transaction is subject to approval of the CSE and other regulatory bodies as required.

The Secret Pass Project consists of 84 unpatented lode mining claims comprising 655.6 hectares (1,620 acres) of claims under the administration of the US Bureau of Land Management (“BLM”) and 212.4 hectares (524.9 acres) for a total of 868 hectares (2,145 acres).

Figure 1: Location Map Secret Pass Gold Project

The scientific and technical data contained in this news release was reviewed and approved by Gary Artmont (Fellow Member AUSIMM #312718), Head of Geology and qualified person to Northern Lights Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

For further information, please contact:

Albert Timcke, Executive Chairman and President

Email: [email protected] Tel: +1 604 608 6163

Or

Jason Bahnsen, Chief Executive Officer Email: [email protected] Tel: +1 604 608 6163

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About Northern Lights Resources Corp.

Northern Lights Resources Corp is a growth oriented exploration and development company that is advancing the Medicine Springs Project located in Nevada. Northern Lights is earning a 100% equity interest in the Medicine Springs Project, a prospective silver – zinc – lead property located in southeastern Elko County, Nevada.

Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forwardlooking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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