News Column

Northern Vertex Closes Second Tranche of Oversubscribed Financing Totaling $3.76 Million

July 15, 2014



ENP Newswire - 15 July 2014

Release date- 11072014 - Vancouver, B.C. - Northern Vertex Mining Corp. (TSX.V: NEE) is pleased to announce that they have closed the second and final tranche of the previously announced non-brokered private placement which was oversubscribed at $3.76 million.

The Company has issued a final 4,000,000 units (the 'Units') at a price of $0.25 per Unit for total gross remaining proceeds of $1,000,000 for an aggregate total gross proceeds of $3,760,524.50. Cash finders fees to arm's length parties of 7%, totaling $70,000 will be paid on this tranche of the Private Placement. On July 3, 2014, the Company closed the initial tranche of the Private Placement, issuing 11,042,098 Units for gross proceeds of $2,760,524.50.

Each Unit consists of one common share ('Common Share') of the Company and one-half transferable share purchase warrant ('Warrant'). Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.50 for a period of 24 months from the closing date of the Private Placement. All of the securities issued today pursuant to the Offering will have a hold period which expires November 12, 2014. All amounts quoted are in Canadian dollars.

The Company intends to use the net proceeds of the Private Placement for the advancement of the Company's Moss Mine Gold-Silver earn-in property located in Mohave County, NW Arizona, USA, primarily the completion of a feasibility study and for general corporate purposes.

About Northern Vertex

Northern Vertex Mining Corp. is a Canadian based exploration and mining company focused on the reactivation of the Moss Mine Gold-Silver Project located in Mohave County, NW Arizona, USA, where the Company has the right to earn-in to a 70% property interest through a Joint Venture with Patriot Gold Corp.The Moss Mine Gold-Silver Project is an epithermal, brecciated, low sulphidation quartz-calcite vein and stockwork system which extends over a strike length of 1,400 meters and has been drill tested to depths of 220 meters vertically.

It is a potential heap leach, open pit project being advanced under a three-phase business plan, specifically designed to ensure that technical, economic, permitting and funding requirements are met prior to each phase proceeding.

The Company's management comprises an experienced team with a strong background in all aspects of acquisition, exploration, development, operations and financing of mining projects worldwide. The Company is focused on working effectively and respectfully with our stakeholders in the vicinity of the historical Moss Mine and enhancing the capacity of the local communities in the area.

For further information, please visit www.northernvertex.com

Investor Contact:

Tel: 604-601-3656, 1-855-633-8798

Forward-Looking Statements

The information in this news release has been prepared as at July 10, 2014. Certain statements in this news release, referred to herein as 'forward-looking statements', constitute 'forward-looking statements' under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as 'expected', 'may', 'will' or similar terms.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown could cause actual results to be materially different from those expressed or implied by such forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.


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Source: ENP Newswire


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