Normiska Corporation Signs Definitive Agreement October 31, 2001 MISSISSAUGA, ONTARIO -- Normiska Corporation (CDNX - NCO) is pleased to announce the signing of the definitive agreement covering the granting of exploration rights covering approximately 488,000 acres (197,490 hectares) of private land owned by Abitibi-Consolidated Inc. in the Thunder Bay region. (See Press Release of December 19, 2000). The private lands consist of eight blocks located north of the City of Thunder Bay and west of the producing mine of North American Palladium Ltd. These lands have been subject to very limited exploration in the past and due to the lands being freehold, there is very little information in the public domain about these properties. North American Palladium Ltd.'s Lac Des Illes mine is located approximately 12 miles (20 kilometres) to the east of Block 3 and management believes the lands that are subject to this agreement to be highly prospective for base and precious metals, particularly platinum and palladium. Normiska Corporation has formed a wholly owned subsidiary, Nearco Minerals Inc., to manage the lease agreement. It is Normiska's intent to manage and develop the properties in a way that maximizes the value to the Normiska shareholders. To this end Nearco has named Mr. Derek Bartlett, formerly Vice President Goldfields Canadian Mining, as President and Hugh D. Harbinson, Chairman of Queenston Mining Inc., as Chairman. Normiska President and C.E.O. David Graham and Chairman and C.F.O. John Arnold will sit on the Board of Directors. It is the company's intent to have Nearco become self financing as soon as possible. As previously announced, the terms of the agreement call for escalating payments of $125,000 on December 31, 2001 rising to $500,000 in year ten for a total of $3,150,000 over the term of the agreement. A minimum of $1,000,000 of exploration expenditures must be made over a three year period commencing on the effective date of the agreement. Normiska Corporation will have the right to earn a 100% interest in the mineral rights subject to a royalty of 2.5%, subject to the right of Abitibi - Consolidated Inc. to retain a 30% interest under certain terms and conditions. Mr. Bartlett has begun to select his management and exploration team and is in the process of identifying the initial exploration targets. He states that he " is very pleased to be able to begin the exploration of properties that have been virtually untouched and are also within easy diving distance of a major centre. The costs of accessing these properties are minimal compared to exploration in the remote areas of North America. North American Palladiums success gives us great encouragement as we share a similar geological environment for the platinum group elements”. David Graham reiterates that “Normiska is committed to maintaining a strict focus on its core business while offering its shareholders the opportunity to participate in a major exploration program managed by a well seasoned, professional team.”. Normiska's core business encompasses the manufacture and production of horticultural materials for sale to the North American horticultural markets. The company has production facilities in Lachine, Quebec and Fort Frances, Ontario serving eastern and central North America. The company's products are used in nurseries, greenhouses, golf courses and landscapers. Please visit our web site at normiska.com Normiska has 9,209,344 common shares issued and outstanding. WATCH US GROW! FOR FURTHER INFORMATION PLEASE CONTACT: Derek Bartlett, President, Nearco Minerals Inc. Hugh D. Harbinson, Chairman, Nearco Minerals Inc. David B. Graham, President & C.E.O. Normiska Corporation John M. Arnold, Chairman & C.F.O. Normiska Corporation Telephone: 905 816 2334 FAX: 905 816 1339 e-mail: normisk1@on.aibn.com Web: www.normiska.com