Northern Empire and Stornoway Ventures Aviat Joint Venture Receives CDNX Approval


Northern Empire Minerals Ltd. ("Empire"), and Stornoway Ventures Ltd. ("Stornoway") (SWV: CDNX) are pleased to announce that the CDNX has accepted the joint venture agreements, termed the "Aviat" Joint Venture to acquire two properties totaling 1.28 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 have reimbursed Hunter $128,455 for all out of pocket costs associated with the acquisition of the two properties. NEM/SWV have issued Hunter 50,000 shares of each company, which have hold period of 4 months, expiring on July 19, 2002. A $25,000 cash payment ($12,500 from each of NEM/SWV) must be paid to Hunter 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. There are no finders' fees or commissions being paid in connection with this transaction.

The Aviat Joint Venture is subject to a two percent (2%) NSR/GORR, with annual advance royalty payments of $50,000 commencing October 1, 2006.

The properties are located along the Melville Peninsula of Canada's Nunavut Territory. The properties lie within the developing North Baffin Diamond district where recently 10 million acres of prospective terrain has been acquired for its diamond potential. Empire 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,


"John E. Robins"                                   

John Robins, P. Geo.
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