January 31, 2011  Northland Resources S.A. reports that during January 2011, 477,500 shares were issued with respect to the exercise of incentive stock options and 50,000 incentive stock options expired, unexercised.  There are now 9,987,500 incentive stock options outstanding.  There are 224,896,399 common shares issued and outstanding.  The fully diluted share capital is 234,883,899 common shares.


This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)