Northern Vertex Files First Quarter Fiscal 2015 Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 28, 2014) - Northern Vertex Mining Corp. (the "Company") (TSX VENTURE:NEE)(OTCQX:NHVCF) announces that the Company's unaudited interim consolidated financial results for the first quarter fiscal 2015 ended September 30, 2014 have been filed on SEDAR. The full version of the Financial Statements and Management's Discussion & Analysis can be viewed on the Company's website at www.northernvertex.com or on SEDAR at www.sedar.com.

Financial and Corporate Highlights for the Quarter Ended September 30, 2014

• Total Gold and silver sales (net of royalties and selling costs) to date from the Phase I - Pilot Plant of $5.612 million;
• Excluding non-cash, unrealized foreign exchange gains or losses, net loss for the quarter was $0.360 million, compared to a net loss of $1.849 million for the comparative period last year. Net gain for the quarter was $1.243 million ($0.017 per share), primarily due to a $1.602 million non-cash, unrealized foreign exchange gain compared to a net loss of $2.202 million ($0.042 per share) for the same period last year;
• Cash and cash equivalents was $3.952 million at September 30, 2014, down $0.101 million since September 30, 2013, mainly due to expenditures at the mine site and offset by cash from financing activities;
• Average realized prices per ounce of gold and silver from year-to-date sales proceeds were US$1,263.08 and US$20.21, respectively;
• Working capital increased to $3.673 million at September 30, 2014, compared to $3.098 million last year; and
• On-going commitment to stringent cost control in response to tough market conditions facing the industry.

Dick Whittington, President & CEO, states, "The Moss Mine project is now significantly de-risked following the many technical successes of the Pilot Plant Phase. Our focus now moves to completion of the Feasibility Study, currently underway, targeted for completion in the second calendar quarter next year. The recently announced updated resource, along with the associated technical analysis, provides us with the foundation to further differentiate ourselves in the market as a development stage project."

Cost Management

• On July 1, 2014, the Company implemented significant reductions to senior management compensation and consulting fee arrangements that included a substantial write-off of amounts previously recorded as amounts owing following temporary salary suspensions. Going forward, cuts of up to 50% for both the Chairman and President & Chief Executive Officer were implemented and remaining senior management and directors experienced significant reductions. Furthermore, with the winding down of the leaching operation at the mine site, the Company anticipates the lay-off of the remaining field staff later in the calendar year. The Company remains committed to stringent cost control and continues to respond and adapt to the tough external environment. These cost reduction measures continue to have a significant impact on overall costs and ultimately, increased cash preservation.

Operating Results