Northland Appoints Acting Chief Financial Officer
LUXEMBOURG, LUXEMBOURG -- (Marketwire) -- 01/17/12 -- Northland Resources S.A. (TSX: NAU)(FRANKFURT: NPK)(OSLO: NAUR) - 'Northland' or 'the Company') is pleased to announce the appointment of Peder Zetterberg as its Acting Chief Financial Officer ('CFO'), effective January 23, 2012. Mr. Zetterberg will be acting CFO, reporting to the Chief Executive Officer ('CEO'), for the twelve-month period that the current CFO is on maternity leave.
Mr. Zetterberg has more than 30 years of international experience from CEO and CFO positions. Prior to joining Northland, Mr. Zetterberg, served as the CEO for the Swedish listed company BRIO Group. He was CFO and Responsible for Business development at Sveaskog, Sweden's largest forest owner and leading supplier of timber, pulpwood and bio-fuel.
'I am pleased that Peder is joining our team at this important time in the development of our Company and its projects,' said Karl-Axel Waplan, President and CEO of Northland Resources S.A. 'I am confident that his background and experience will ensure a rapid and solid changeover and management of the financial processes while Eva Kaijser is on maternity leave.'
Karl-Axel Waplan, President & CEO, Northland Resources S.A.
Northland is a development-stage mining company with a portfolio of iron ore projects in northern Sweden and Finland. The Company's Kaunisvaara Project will exploit two magnetite iron ore deposits in Sweden. The process is expected to yield a high-grade, high-quality magnetite iron concentrate. The construction of the Kaunisvaara project is underway and production is planned to start in the fourth quarter of 2012. Northland has entered into industrial off-take contracts for the entire production from Kaunisvaara. The Company is also preparing a Definitive Feasibility Study for its Hannukainen Iron Oxide Copper Gold Project in Kolari, northern Finland. The results of the study are expected to be released in the first quarter of 2012.
Contacts:
Northland Resources S.A.
Karl-Axel Waplan
President and CEO
+46 705 104 239
Northland Resources S.A.
Peder Zetterberg
Acting CFO
+46 708 652 120
Northland Resources S.A.
Anders Antonsson
Vice President Investor Relations
+46 709 994 970
Northland Resources S.A.
Marguerite Manshreck-Head
Investors Relations, Canada
+1 647 224 7882
www.northland.eu
