Medicine Springs New Project Update Video

Rhea-AI Summary

Northern Lights Resources Corp. (CSE:NLR)(OTCQB:NLRCF) announces an update from joint venture partner Reyna Silver Corp. regarding exploration plans at the Medicine Springs Project in Nevada. Reyna Silver aims to acquire up to 80% of the project with a total expenditure of US$4 million. The exploration team, led by Dr. Peter Megaw, conducted extensive sampling and plans a LiDAR survey to identify drill targets. An initial drilling budget of 7,000 meters has been approved for Q2 2022, highlighting the project's potential for mineralization.

Positive

• Reyna Silver plans an initial 7,000 meters of drilling in Q2 2022.
• Extensive sampling campaign completed, quadrupling the land position at the Medicine Springs Project.
• Reyna Silver is confident in controlling the entire district.

Negative

• The project is still in the early exploration phase with no immediate cash flow.
• Drill permitting process may be lengthy for newly staked areas.

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCF) is pleased to announce that the Companies joint venture partner, Reyna Silver Corp. (TSX.V:RSLV, "Reyna Silver") has posted an updated video outlining exploration plans at the Medicine Springs Project in Nevada.

Northern Lights is exploring the Medicine Springs Project in joint venture with Reyna Silver Corp. (RSLV). Reyna Silver holds an option to acquire up to 80% of the project by completing total exploration expenditures of US$4 million. Reyna Silver is acting as the operator for the project exploration work under the guidance of Dr. Peter Megaw. (See October 5, 2020 announcement for complete terms of the Option/Joint Venture agreement with Reyna Silver.)

Reyna Silver has produced an updated and expanded video taken at the Medicine Springs Project this summer. In the video, Dr. Peter Megaw outlines the large-scale potential of the mineralization system at Medicine Springs and the strategy for exploring the project with the focus to confirm future drill targets as soon as possible

Please click on the attached link to see the video: Medicine Springs, Virtual Site Visit - Reyna Silver.

In the video, Reyna Silver Geological consultant Dr. Peter Megaw makes the following comments.

• Reyna spent the spring doing an extensive sampling campaign and quadrupling the land position at the Medicine Springs Project.
• The Company is confident we now control the entire district. An extensive sampling and mapping campaign was conducted during the summer and concluded last week. A LiDAR survey is planned as the final step to define our drill targets.
• As soon as drill targets are identified, the drill permitting will begin. Some areas of the property have drill permits that would be easy to reactivate and the new areas we staked the process will be a little bit longer.
• The board of Reyna Silver has approved a budget for an initial 7,000 meters of drilling, which we are planning to conduct Q2 2022.

Figure 1 - Medicine Springs Project Mineral Claims

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: rtimcke@northernlightsresources.com
Tel: +1 (604) 608-6163

Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 (604) 608-6163

Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 (604) 773-0242

About Northern Lights Resources Corp.

Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights are in joint venture with Reyna Silver Corp (TSX.V "RSLV"), (25% Northern Lights / 75% Reyna Silver).

Northern Lights Resources trades under the ticker of "NLR" on the CSE exchange and "NLRCF" on the OTCQB exchange. 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. Forward-looking 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.

SOURCE: Northern Lights Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/665186/Medicine-Springs-New-Project-Update-Video

FAQ

What is the latest update on Northern Lights Resources Corp and Reyna Silver's Medicine Springs Project?

Northern Lights Resources Corp and Reyna Silver have outlined exploration plans for the Medicine Springs Project, including a budget for 7,000 meters of drilling planned for Q2 2022.

What are the key objectives for the Medicine Springs Project in 2022?

The key objectives for the Medicine Springs Project include identifying drill targets through extensive sampling and mapping, and initiating drilling activities.

What financial commitment is required from Reyna Silver at the Medicine Springs Project?

Reyna Silver is required to complete a total of US$4 million in exploration expenditures to acquire up to 80% ownership of the Medicine Springs Project.

Who is overseeing the exploration work at the Medicine Springs Project?

The exploration work at the Medicine Springs Project is being conducted by Reyna Silver under the guidance of Dr. Peter Megaw.