NMEX Files SEC Form 10k & Provides Update on Mexico Resort

QUITMAN, Texas, April 23, 2018 (GLOBE NEWSWIRE) -- Northern Minerals & Exploration Ltd. (Stock Symbol:NMEX) is pleased to make the following announcements:

Lake of Seven Colors

NMEX Files 10K

On April 11, 2018, NMEX filed its Annual Report on Form 10K with the Securities and Exchange Commission (“SEC”) for the fiscal year ended July 31, 2017.  NMEX is now in the process of completing its quarterly filings for periods ending October 31, 2017 and January 31, 2018. The filing of these two quarterly reports on Form 10Q is projected to be complete within the couple of weeks which will cause NMEX to be current and up to date with its SEC filings.  

Yucatan Peninsula Resort Development Project

NMEX updated and extended the Memorandum of Understanding (“MOU”) for entering into a definitive agreement for the purchase of 51% of Pemer Bacalar SAPI DE CV for jointly developing an ecofriendly multi facet resort on a freshwater lagoon near Bacalar in the State of Quintana Roo, Mexico (“Property”).

Lake Bacalar is a fresh water lake feed by underground cenotes. It is called the lake of seven colors because of the white sandy bottom that gives the effect of having so many shades of blue.

The Property is a part of the Riviera Maya, is located near the recently discovered Ichkabal Mayan ruins and is situated on the Caribbean coast of the Yucatan Peninsula. Nearly 10 million people visited the state of Quintana Roo last year, according to the Tourism Secretariat of Quintana Roo (SEDETUR).

NMEX has incorporated a wholly owned Mexican subsidiary to represent it interests in this proposed joint venture and an international accredited architect /engineering firm has been engaged to draft plans for development of the Property.

Recently, representatives of both NMEX and Pemer Bacalar attended a meeting in Dallas at the architect offices for a presentation of the preliminary proposed development plans for the property. Ivan Webb, Vice President, stated “that he and all who attended the meeting were impressed with the professional presentation and excited about the development plans for the Property”.

Northern Minerals & Exploration (”NMEX”) is an emerging resort development & oil and gas exploration and development company focused on both domestic and international projects. 
For further information the Company’s website is www.nmex.us or the Company’s filings at www.otcmarkets.com.

Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers’ preferences and trends.  The words “estimate,” “possible,” “seeking,” and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. The information herein is subject to change without notice.  Northern Minerals & Exploration Ltd. shall not be liable for technical or editorial errors or omissions contained herein.

A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/6317d426-b1f7-49ba-a5f5-bdbda4b7c485