Northern Empire Minerals Ltd. ("Empire"), a diamond exploration company involved in exploring more than 1.6 million acres in the Coronation Diamond District, 1.3 million acres on the North Baffin Island and over 50,000 acres under management in the Otish Mountains, Quebec, has entered into an agreement with Vanguard Shareholder Solutions Inc. ("Vanguard"), whereby Vanguard will provide financial and public relations services to the company.
The recent discovery of the Potentilla diamond bearing kimberlite on the Kikerk Lake Property (30% interest) has propelled Empire from being an early stage diamond explorer to the role of being involved in what could emerge as a new major diamond discovery in Nunavut. Empire has contracted the services of Vanguard to make the investment community more aware of its growth potential as an emerging explorer for diamonds.
Vanguard is a full-service investor relations firm located in Vancouver, BC and is headed by Mr. Paul Lathigee. Vanguard will design and implement a program formulated to expand Empire's recognition throughout the entire financial community - targeting the financial press, newsletter, brokers, investors and analysts.
Vanguard provides communication and investor relations services to public companies listed on the Toronto and CDNX exchanges. Vanguard helps their clients communicate their corporate story to the investment community and financial media.
The terms of the Vanguard agreement specify payments of $13,000 per month plus expenses. The term of the agreement is 6 months, and is subject to regulatory approval.
In addition Patrick Soares has been hired as manager of Investor Relations. Patrick is a geologist with 20 years experience working at in the Northwest Territories and Nunavut. His most recent experience has been in the role of Investor Relations Manager for various Vancouver based mining companies.
Further to Canadian Venture Exchange approval Empire has also closed the two Private Placements announced on February 18, 2002 totaling 791,846 units at $0.65 for gross proceeds of $514,700. The placement consisted of 330,000 flow-through units and 461,846 non flow-through units. Units convert to one common share and one-half of one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder to purchase an additional share at a price of $0.85 for a period of two years.
On behalf of the Board,
NORTHERN EMPIRE MINERALS LTD.
"John E. Robins"
John Robins, P. Geo.
President
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