Niogold Mining Corp (TSX-V:NOX)

Shares Issued 61,792,089

Last Close 12/10/2008 $0.06

Thursday December 11 2008 - News Release

Mr. Michael Iverson reports

Niogold Mining Corp.'s president and chief executive officer, Michael Iverson, has released an update on the activities in the Malartic and Val d'Or gold mining camps.

During 2008, the company conducted its most important exploration program to date that included 24,800 metres of drilling. Also, option agreements were signed to acquire interests in the Siscoe East and Malartic H properties in order to consolidate its land position over key sectors.

NioGold presently controls a continuous 13-kilometre stretch of the Norbenite shear, a regional structure that hosts several current and former gold producers within the Malartic and Val d'Or areas. The Norbenite shear is known to be quite fertile on the company's Marban block property with: 590,000 ounces gold production, 340,000 ounces gold NI 43-101 compliant resources and 170,000 ounces gold historic resources yet to be confirmed. The Siscoe East property covers a relatively untested segment of another gold mineralized structure commonly known as the K zone.

The bulk of the 2008 drilling was allocated to the former Marban mine sector, Marban block property, following strong results obtained in 2007. Ninety holes, for 32,500 metres, were drilled on the target since late 2006. The drilling was successful in tracing several gold mineralized structures with intersections of economic interest over a strike extent of up to 1,200 metres. Interpretation is ongoing in order to conduct a first resource estimate in 2009. The east and depth extents of the Marban system remain to be tested.

Target generation outside the Marban block continued to focus on the northwest extent of the Norbenite shear. A large gold mineralized system, known as the H zone, is recognized on the adjoining Malartic Hygrade and Malartic H properties. Farther to the northwest, on the Camflo West property, trenching was successful in locating the Norbenite shear where gold values of up to 5.4 g/t Au were obtained from surface samples.

In 2009, the company plans to test the east and depth extents of the Marban gold system in order to significantly expand the resources. Drilling will also be allocated to further evaluate the H zone as well as test priority targets outlined by geophysical and structural surveys along underexplored segments of the Norbenite and K zone shears.