NORTHERN STAR MINING CORP ("NSM-V") - Non-Brokered $1.8 Million Flow-Through Financing Northern Star Mining Corp announces that it intends to raise approximately $1.8 Million by issuing 4 million common shares on a "flow-through" basis, pursuant to the Income Tax Act (Canada), at a price of $0.45 per flow-through share. A 7% cash commission and 7% agent's warrants will be paid to certain arm's length agents in connection with the offering. Each agent's warrant will entitle the holder to purchase one common share at a price of $0.45 for a period of 12 months from closing. The proceeds from the flow-through financing will be used for exploration on the Company's Quebec properties. The Company expects to close the financing on or about November 4, 2008.

ON BEHALF OF THE BOARD Jonathan Awde, VP Corporate Finance

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Capitalization Report for Northern Star Mining Corp Shares Issued: 94964369 Shares Escrow: 13816

TSX Venture closing price for Northern Star Min Date: 2008/10/31 Closing Price: 0.480