Northern Empire Minerals Ltd. ("Empire") and Stornoway Ventures Ltd. ("Stornoway", SWV:CDNX) are pleased to announce that the companies have entered into a joint venture agreement, termed the "Aviat" Joint Venture to acquire two properties totaling over 1 million acres from the Hunter Exploration Group (acting on behalf of the Husky 2001 Syndicate) ("Hunter").
 
Hunter has granted to Empire and Stornoway ("NEM/SWV") the option to earn a collective seventy percent (70%) interest (35% to each of NEM and SWV) in the Aviat North and Aviat South projects. Hunter will retain a ten percent (10%) interest carried through to commercial production and a twenty percent (20%) working interest in the projects. To earn its interest, NEM/SWV must incur $2,000,000 in exploration expenditures on or before October 1, 2005.
NEM/SWV will reimburse Hunter for all out of pocket costs associated with the acquisition of the two properties, estimated to be approximately $135,000. NEM/SWV have also agreed to issue Hunter, upon CDNX approval: 50,000 shares of each company, and a $25,000 cash payment ($12,500 from each of NEM/SWV) to be paid no later than March 31, 2002. NEM/SWV have agreed to make additional cash payments of $25,000 annually commencing on October 1, 2002 and expiring on October 1, 2005.

The Aviat Joint Venture is subject to a two percent (2%) NSR/GORR and annual advance royalty payments of $50,000 per annum commencing October 1, 2006.
The properties are situated in northern Canada and were acquired based on favorable geology and prospective diamond indicator mineral results derived from regional prospecting. NEM will be operator of all programs.

Northern Empire views this opportunity as a significant step towards establishing itself as one of the key players in the Canadian diamond exploration community.

On behalf of the Board,

NORTHERN EMPIRE MINERALS LTD.

"John E. Robins"                                   

John Robins, P. Geo.
President
 
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