News Release: October 29, 2009

NEMI Announces Development in Peace River Coal Partnership

Vancouver, BC, Canada – October 29, 2009 – NEMI Northern Energy & Mining Inc. (the "Company" or "NEMI" / TSX: NNE.A). NEMI reports that Anglo American plc ("Anglo American") announced last week a number of changes across its businesses, including the intended divesture of certain non-core assets. Peace River Coal Limited Partnership ("Peace River Coal"), 74.5% owned by Anglo American, 13.4% owned by Hillsborough Resources Limited, and 12.1% owned by NEMI Northern Energy & Mining Inc., has been identified as one of these non-core assets for divestment. The divestment of Peace River Coal will be undertaken in a manner and on a timetable that will maximize value for Anglo American while protecting the Peace River Coal business and the interests of its minority shareholders. To that end, Peace River Coal has appointed a committee of its shareholders to explore options and to make recommendations to its board of directors.

All statements, trend analysis and other information contained in this press release relative to markets or about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

For more information, please contact:
Michael Cooney

NEMI Northern Energy & Mining Inc.
(T) 604 684-1554
(T) 415 339-8825
(F) 604 684-1556