GOLD DEVELOPMENT NEWS Tulawaka Project in Tanzania Gets Nod

LAKE VICTORIA, Tanzania The green light has been given to the Tulawaka gold project owned 70% by PANGEA GOLDFIELDS and 30% by Montreal-based NORTHERN MINING EXPLORATIONS. The project includes an open pit mine, mineral processing plant, waste and water management systems, and ancillary facilities.

The project received environmental approval, a special mining licence and a development agreement from the Tanzanian government late last year. Construction is to start immediately on the East zone pit. Resources there are estimated to be 2.26 million tonnes grading 11.11 g/t Au at a cut-off grade of 1.0 g/t or 1.71 million tonnes grading 14.19 g/t Au at a cut-off grade of 2.0 g/t. In addition, the property hosts the West zone, which is not included in this estimate. Details of the Tulawaka project are available at www.xnord.com.

Pangea, the Tulawaka project operator, is a subsidiary of Toronto-based BARRICK GOLD, which operates the nearby Bulyanhulu gold mine. Bulyanhulu output is being increased to between 430,000 and 570,000 oz of gold annually.