November 25, 2010 Securities

Montréal – The Autorité des marchés financiers (AMF) has launched penal proceedings against Michel David, an insider of Northern Star Mining Corp., in the Court of Québec, district of Montréal, and is seeking fines totalling $9,000.

The AMF alleges that on five occasions between April 2006 and November 2008, Michel David failed to report, within the 10-day deadline, a change in his control over the securities of Northern Star Mining Corp. For two of these transactions, Michel David filed the reports 391 days and 881 days late.

Administrative penalties have already been imposed on Michel David for the same type of offence.

Reminder to insiders

Since November 1, 2010, insiders have had five days in which to report their transactions via the System for Electronic Disclosure by Insiders (SEDI), thereby giving all investors access to the information within a reasonable period of time.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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