Northern Empire Minerals Ltd. ("Northern Empire") is pleased to announce the acquisition of 15 exploration permits totaling over 900,000 acres on Victoria Island consisting of 13 permits in the Nunavut Territory and two permits in the Northwest Territories.
The acquisition gives Northern Empire a strategic foothold in the emerging Victoria Island diamond play and establishes the company as one of the largest tenure holders in the region.
Three properties were acquired based upon research conducted by Northern Empire personnel. Exploration work for the 2003 field season shall include geochemical sampling, prospecting and geophysics.
In addition, Mr. Bernie Kennedy has been hired as Investor Relations Manager for the Company. Mr. Kennedy brings to the company over six years in the Investor Relations field.
The Company also announces that it has agreed to grant incentive stock options, subject to regulatory approval, for the purchase of a total of 704,000 shares at a price of $0.85 per share, in its capital stock to individual directors and employees. The options will be exercisable for five years from the date of the grant.
The Victoria Island acquisition brings Northern Empire's land holdings to over 10 million acres. Northern Empire is one of the world's largest holders of diamond exploration properties. The Company now has diamond exploration projects in the Coronation, Melville Peninsula, Victoria Island and Rankin Inlet areas of Nunavut. In addition, the Company has two diamond projects in the Otish Mountains region of Quebec.
On behalf of the Board
NORTHERN EMPIRE MINERALS LTD.
/s/ "John Robins"
John E. Robins, P. Geo
President