IC Capitalight Corp V.IC

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[dukeman]

stocks starting to move...could be another winner like RL ...cheers! Northern Abitibi Options Cold Springs Property in Nevada 3/3/2006 CALGARY, ALBERTA, Mar 3, 2006 (CCNMatthews via COMTEX) -- Northern Abitibi Mining Corp. (TSX VENTURE:NAI) ("Northern Abitibi") is pleased to announce the optioning of 18 unpatented mining claims called the Cold Springs Property in the Alpine Mining District, Nevada. The Cold Springs Property contains an epithermal gold-silver prospect considered to have excellent potential to host a million ounce plus gold deposit. The property contains a 2 kilometer long by 1.5 kilometer wide zone of hydrothermal alteration along a range front adjacent to a much larger area of mostly covered pediment. A 500 meter by 500 meter area of strong quartz veining is exposed at the property and is known to contain patchy high-grade gold and silver values. Surface samples of exposed epithermal quartz veins taken by Northern Abitibi personnel have returned precious metal values of up to 22.2 g/t gold and 1230 g/t per silver (1.2 kg/ton). Both the covered pediment and the exposed altered areas have excellent potential to host high-grade structurally controlled zones of mineralization as well as zones with bulk minable potential. A preliminary surface exploration program will commence in the spring to early summer. Northern Abitibi's wholly owned Nevada subsidiary NAMCOEX Inc. can earn a 100% interest in the 18 unpatented claims by making staged payments to the arm's length vendor, totaling $155,000 US over 4 years. The initial payment for the current year is $15,000 US. The property vendor will retain a 4.0% Net Smelter Royalty, 2% of which is purchasable at Northern Abitibi's election for $1,500,000 US. Northern Abitibi can also make the 1st-4th year payments at any time after signing in order to earn 100% interest. On each anniversary after the 4th year (or after 100% interest is earned) a minimum of $50,000 advance royalty payment will be made against future production until the NSR comes into effect, at which time the payment will equal the NSR, minus any advanced payments. The acquisition is not subject to a finders fee. All assay work was performed by Induced Coupled Plasma at ALS-Chemex labs of Vancouver, with gold values determined using standard fire assay methods. The Qualified Person responsible for the surface sampling and field evalulation as well as the preparation of this news release was Dr. Shane Ebert, P.Geo., and President of the Company. "Shane Ebert" Shane Ebert President/Director Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Northern's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Northern's filings with the Canadian securities authorities. Accordingly, holders of Northern shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern disclaims any responsibility to update these forward-looking statements. SOURCE: NORTHERN ABITIBI MINING CORP. Northern Abitibi Mining Corp. Shane Ebert [phone] Northern Abitibi Mining Corp. Jean Pierre Jutras [phone] Website: www.naminco.ca