Northland Resources SA announced that the divestment of the Company's nonferrous projects in Sweden has been approved by the TSX Venture Exchange. As previously announced, the buyer of the projects including the Barsele Gold Project is Orex Minerals Inc.

The total consideration is valued at a minimum of USD 15.5 million including a mix of upfront cash and shares as well as deferred cash and share payments, guaranteed investments and a two percent Net Smelter Royalty. Northland will receive a total of USD 5 million in cash over two years and USD 3.5 million of Orex shares to be issued over a period of four years. Initial consideration of USD 2 million and 1,153,997 shares was received by Northland on April 29th 2011.

Mr Karl Axel Waplan president and CEO of Northland said that "We are convinced that these projects will be better developed by Orex, a company with a proven record and focus on the exploration and development of gold and silver projects. Orex will invest a minimum of USD 3 million in the nonferrous projects in the two first years. Furthermore, Northland will be working close together with Orex. I am pleased to announce the appointment of Dr Vladimir Benes to the Orex Board of Directors. Dr Benes is VP of Exploration for Northland and he will bring to the exploration and potential development of these projects his experience from Barrick Gold Corporation where he ran the exploration team operating in Russia and Central Asia for 10 years."