Northern Empire Minerals Ltd. ("Empire"), and Skyharbour Developments Ltd. ("Skyharbour") (SKY: TSXV) are pleased to announce that the TSX Venture Exchange has accepted the joint venture agreements, covering the Peninsula North and South Permits, approximately 75 kilometres North of the hamlet of Kuglugtuk, Nunavut.

Under the agreement, Empire has been granted an option by Skyharbour to acquire a 40% interest (50% of Skyharbour's 80% interest) in a total of twelve prospecting permits aggregating approximately 675,000 acres known as the Coronation Peninsula North and South Permits. The Permits issued February 1, 2002, are held under an option agreement, whereby Skyharbour can earn an 80% interest from the Hunter Exploration Group.

The Coronation Peninsula represents the geological/geophysical extension of the Slave Kimberlite Trend often referred to as the "Corridor of Hope" which extends from Lac de Gras in the south through to the recent diamond discoveries of Kennecott/Tahera, Ashton and Northern Empire in the Coronation District to the north. In 1999 the Geological Survey of Canada released new geophysical surveys over the Peninsula area which clearly identified the northern extension of the trend. The Peninsula region represents the northern most extension of this trend and is an unexplored portion of what is becoming the focus of Canadian Diamond exploration.

In order to exercise the option, Empire must undertake a work program of $2,000,000 on the Permits over a four year period. The Company has made a cash payment to Skyharbour in the amount of $67,500 as a re-payment to Skyharbour for its costs in connection with acquiring the Permits and has issued to Skyharbour a total of 50,000 shares subject to a four month hold period expiring September 22, 2002. The Permits are subject to an underlying 2% Net Smelter Return and 2% G.O.R.R. in favour of the Hunter Exploration Group. Empire will be the Operator and supervise the work program for the Permits in consultation with Skyharbour.

Northern Empire Minerals is a well-funded diamond exploration company with an aggressive acquisition and development philosophy. The Company has established itself as one of the premiere diamond explorers in Nunavut. The Company's property interests now total more than 2.9 million acres. The Company has properties in the Coronation Diamond District, on the Melville Peninsula and in the Otish mountain region of Quebec.

On behalf of the Board,

NORTHERN EMPIRE MINERALS LTD.

"John E. Robins"                                   

John E. Robins, P. Geo.
President
 
 
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.