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NPN INVESTMENT GROUP ANNOUNCES ACQUISITION OF “DIVIDE” PROPERTY IN ALASKA
August 14th, 2007, VANCOUVER, B.C. – NPN INVESTMENT GROUP (the “Company”) (NPN-TSX: V) announces today that the Company has entered into an agreement with a private group of 4 individuals, including David Lajack, a director of NPN, to acquire a 100% interest in a lode gold prospect in Alaska known as the “Divide” property.
To acquire the 100% interest in the Divide Property NPN must pay a total of $1,000,000 plus issue 1,000,000 shares of the Company over the next 4 years. Payments begin with $15,000 plus 100,000 shares on acceptance by the TSX Venture Exchange, followed by $45,000, $90,000, $150,000, $250,000 and $450,000 on the six month, first, second, third and fourth anniversary date respectively and share issuances of 100,000, 300,000 and 500,000 shares on the first, second and third anniversary respectively. NPN’s interest will be subject to a net smelter return (the “Royalty”) based on the London Bullion Market afternoon gold price fix, of up to 5% on precious metals and 3% on base metals. The Company will have the right to buy down the Royalty by 1% on payment of $1,000,000. (All amounts shown are in US dollars.)
This agreement has been approved by NPN’s independent board members.
The “Divide” Property is located in the prolific Cape Nome mining district about 27 miles (45 km) north of Nome, Alaska. Access to the property is via the Nome-Taylor highway which crosses over the eastern boundary of the 3520 acre claim block.
Divide is hosted in structurally deformed, retrograde greenschist facies metasediments (turbidites and related deep water sediments) of late Proterozoic to Paleozoic age. NovaGold’s 1 Moz Rock Creek lode deposit located about 20 miles (33 km) SSW of Divide is hosted in the same package of rocks. The placer deposits of the + 4.5 million ounce Nome camp are spatially associated with these rocks as well.
NPN is planning an aggressive exploration program for the property. A six to ten hole HQ diamond core drilling program is anticipated to commence within the week. Detailed geologic mapping and structural analysis will also be employed to better define potential areas of gold mineralization.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.