Sampling of New Intervals Reveal High Grade Intercepts on the Malartic Block


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TSX.V:NOX / PK:NOXGF
12/04/2013 [ACCESSWIRE]

Val-d'Or, Quebec - December 4, 2013 - NioGold Mining Corporation (TSX-V:NOX) (OTCQX:NOXGF) ("NioGold") is pleased to announce the results of its sampling of 10 holes drilled in 2011 by the previous owner of the Malartic Hygrade past producing mine which is now 100% owned by NioGold (see news release of May 3rd, 2012) and part of our Malartic Block property.

In December 2011, the previous owner drilled 10 holes for a total of 915.54 metres. A few samples (39) were taken at the time and revealed some high grade results such as 201.57 g/t Au over 1.0 metre (RG-11-009) and 7.69 g/t Au over 0.35 metre (RG-11-010). In 2013, NioGold managed to recover the core of those holes and re-logged and sampled new intervals (162 samples).

Highlights from the sampling of new intervals are:

  • -- 3.98 g/t Au over 7.2 m which include 13.96 g/t Au over 1.2 m and include 6.89 g/t Au over 1.2 m in hole RG-11-004 at a vertical depth of 39.0 m.

    -- 78.44 g/t Au over 0.7 m in hole RG-11-005 at a vertical depth of 38.0 m.

Drill holes results:


 -------------------------------------------------------------------------------
 |Hole     |Easting  |Northing|Azimuth|Dip  |Hole  |From  |To    |Length|Grade |
 |         |1        |1       |       |     |Length|      |      |      |      |
 |         | (m)     |(m)     |       |     |(m)   | (m)  |      | (m)  |(g/t  |
 |         |         |        |       |     |      |      | (m)  |      |Au)   |
 |         |         |        |       |     |      |      |      |      |      |
 |-----------------------------------------------------------------------------|
 |RG-11-001|274689   |5338951 |180    |-60  |108.0 |No significant results     |
 |-----------------------------------------------------------------------------|
 |RG-11-002|274689   |5338951 |175    |-75  |216.1 |Maximum value of 180 ppb   |
 |-----------------------------------------------------------------------------|
 |RG-11-003|274686   |5338888 |190    |-80  |51.5  |27.80 |29.00 |1.20² |0.43² |
 |-----------------------------------------------------------------------------|
 |RG-11-004|274684   |5338871 |172    |-80  |102.0 |35.20 |42.40 |7.20² |3.98² |
 |-----------------------------------------------------------------------------|
 |         |         |        |       |     |incl  |35.20 |36.40 |1.20² |13.96²|
 |-----------------------------------------------------------------------------|
 |         |         |        |       |     |incl  |41.20 |42.40 |1.20² |6.89² |
 |-----------------------------------------------------------------------------|
 |         |         |        |       |     |      |44.80 |62.50 |17.70³|0.33³ |
 |-----------------------------------------------------------------------------|
 |RG-11-005|274681   |5338855 |172    |-80  |69.0  |10.80 |25.00 |14.20³|0.68³ |
 |-----------------------------------------------------------------------------|
 |         |         |        |       |     |      |38.60 |39.30 |0.70² |78.44²|
 |-----------------------------------------------------------------------------|
 |RG-11-006|274681   |5338840 |178    |-80  |69.0  |No significant results     |
 |-----------------------------------------------------------------------------|
 |RG-11-007|274668   |5338890 |188    |-80  |129.0 |116.60|128.00|11.40³|0.36³ |
 |-----------------------------------------------------------------------------|
 |RG-11-008|274702   |5338884 |181    |-80  |102.0 |29.80 |31.00 |1.20² |0.65² |
 |-----------------------------------------------------------------------------|
 |RG-11-009|274667   |5338870 |189    |-80  |29.0  |27.50 |28.50 |1.00  |201.57|
 |-----------------------------------------------------------------------------|
 |RG-11-010|274701   |5338868 |184    |-80  |39.9  |9.00  |9.35  |0.35  |7.69  |
 |-----------------------------------------------------------------------------|
 |1: UTM Nad 83 zone |2: NioGold      |3: NioGold and     |      |      |      |
 |18.                |sampling        |previous sampling  |      |      |      |
 -------------------------------------------------------------------------------

Those holes were drilled on the #2 zone of the former Malartic Hygrade mine from which 23,200 tonnes at 22.67 g/t Au were extracted between 1961 and 1963. The high grades values obtained are in line with the exceptionally high grade of what was mined. The results obtained are also revealing some wide low grade intervals near surface which makes this area worth more investigation.

"We are very happy with these unexpected results and are more motivated than ever to continue to compile this area which contains at least eleven zones", said NioGold's President and CEO, Mike Iverson. "We are right now working on our next exploration drilling program and the Malartic Hygrade mine claims acquired last year are part of the areas where we are looking for targets."

The former mine and those 2011 holes are on strike and less than 2 km from the Kierens deposit on our adjacent Marban Block property. The Marban Block has three deposits (Marban, Kierens and Norlartic) which collectively host estimated measured and indicated resources of 1,531,000 ounces gold (32,127,000 tonnes grading 1.48 g/t gold) plus inferred resources of 599,000 ounces gold (16,478,000 tonnes grading 1.13 g/t gold).

A map showing the location of the holes on the Malartic Block property is available at:

http://www.niogold.com/projects/maps/MalarticBlockCommuniqueDec2013.jpg

Technical Info, QA/QC and Qualified Persons

Reported intervals are in core lengths but true width is approximately 70% of the reported width. The #2 zone is still being compiled.

Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones, except for holes that traversed underground workings which were completed using BQ-size core. The core was sealed delivered by the drilling contractor to NioGold's facilities located at the Norlartic mine site. The core was photographed for reference, logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half core samples were bagged, sealed and delivered to Techni-Lab in Ste-Germaine Boule, Quebec, which is an accredited laboratory. The remaining core is stored on site for reference. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split. A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 3 g/t Au by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 g/t Au are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.

The exploration and compilation program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), NioGold's Vice-President, Exploration and a Qualified Person as defined by National Instrument 43-101. This news release was prepared by Mr. Ducharme.

NioGold Mining Corporation - << On Canada's Golden Highway >>

NioGold Mining Corporation is a mineral exploration company focused on gold. The Company's flagship projects are located in the Cadillac - Malartic - Val-d'Or region of the prolific Abitibi gold mining district, Quebec. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930's and presently encompass seven producing gold mines including Osisko Mining's new Canadian Malartic operations. NioGold's land holdings within the Abitibi presently cover 130km2 and encompass four former gold producers, namely the Norlartic, Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced 640,000 ounces of gold.

NioGold's experienced and qualified technical team are overseeing the advancement of these projects, with current drill programs underway targeting expansion of the resource base.

NioGold invites you to visit the company website at www.niogold.com. For information on NioGold Mining Corporation contact:

Michael A. Iverson, President & CEO Dale Paruk, Vice-President

miverson@niogold.com dparuk@niogold.com

Tel: (604) 856-9887 Tel: (604) 662-4505

Toll-free: (877) 642-6200

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

FORWARD-LOOKING STATEMENTS

This news release includes "forward looking statements", as that term is defined in Section 27A of the Unites States Securities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.

Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Except as required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.

CAUTIONARY NOTE TO U.S. INVESTORS

The United States Securities and Exchange Commission (the "SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this news release, such as 'measured resources', 'indicated resources' and 'inferred resources', which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. The news release may contain information about adjacent properties on which we have no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on our properties.

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