Northern Minerals : NTU Corporate Presentation - RIU Explorers Conference

Browns Range Heavy Rare Earths Project

ersonal use only

RIU Explorers Conference - Fremantle

Presented by:

Mark Tory

CEO

15th February 2022

Disclaimer

This document has been prepared by Northern Minerals Limited ("Northern Minerals" or the "Company").

This document is of a summary form only and therefore contains general background information which may not be complete. It should be read in conjunction with and full review made of Northern Minerals disclosures and releases lodged with the Australian Securities Exchange ("ASX") and available at www.asx.com.au.

onlyThis document contains certain statements which may constitute "forward-looking statements." Such statements are only expectations or beliefs and are subject to inherent risks and uncertainties which could cause actual

values, results or performance achievements to differ materially from those expressed or implied in this document. No representation or warranty, express or implied is made by Northern Minerals that any forward-looking statement contained in this document will occur, be achieve or prove to be correct. You are cautioned against relying upon any forward-looking statement. Except for statutory liability which cannot be excluded, each of Northern Minerals and its related body corporates and their officers, employees and advisers expressly disclaims any responsibility for the accuracy or completeness of the material contained in this document and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this document or any error in it or omission from it. Northern Minerals accepts

o responsibility to update any person regarding any inaccuracy, omission or change in information in this document or any other information made available to a person, nor any obligation to furnish the person with any

further information.

This document does not constitute an offer of any securities in Northern Minerals, in any jurisdiction, nor an invitation to apply for such securities, in any jurisdiction, and will not form part of any contract for the acquisition of N rthern Minerals shares.

This document does not provide investment advice or financial product advice. You should obtain professional advice and carry out your own independent investigations and assessment of the information in this document (including any assumptions) before acting. Information in this document which is attributed to a third-party source has not been checked or verified by Northern Minerals.

useCompliance Statement

The information in this document that relates to the Mineral Resource Estimate for the Dazzler deposit is extracted from the Company's ASX Announcement dated 7 May 2020 entitled "Over 50% increase in Dazzler high- grade mineral resource" and is available to view on the Company's website (www.northernminerals.com.au) and at www.asx.com.au, and was completed in accordance with the guidelines of the JORC Code (2012). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters

nderpinning the Mineral Resource Estimates in the original market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's

findings are presented have not been materially modified from the original market announcement.

The information in this report relating to Exploration Results was compiled by Mr Simon Pooley who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Pooley is a full time employee of Northern Minerals

Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition
ersonal
of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Pooley consents to the inclusion of this information in the form and context in which it appears.
TREO = Total Rare Earth Oxides - La2O3, CeO2, Pr6O11, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3
HREO = Heavy Rare Earth Oxides - Total of Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3
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Browns Range East Kimberley, WA

ersonal use only

Rare earth applications

 NdFeB Permanent magnets require dysprosium (Dy) and terbium (Tb)

 Electric drivetrains in passenger cars are forecast to account for the majority of increased demand through to 2040

 Dy and Tb also have a range of military applications

 Rare earths are also used in other applications such as technology, medical and robotics

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Tier 1 resources jurisdiction

ersonal use only

• Australia is one of the world's most proven, safe and reliable jurisdictions for mining and mineral processing
• Northern Minerals is actively engaging with Critical Minerals Facilitation Office established in Canberra in January 2020
• Secure tenement legislation and environmental approvals framework benefits local operators
• Established trade, export and logistics network and supporting economy

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Australian HREE

production is ethical

 Browns Range produces HREE from hard rock

only	xenotime ore at a grade of 600 - 800 ppm Dy
 Mining and processing methods in China, due to low
	grade ore, operate at just 20 - 40 ppm Dy
 98% of world's heavy rare earths are currently produced
use	by China
Many are unconstrained in situ leach operations, which

ersonal	are environmentally harmful

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Plant Pilot Range Browns

operation mining leach situ in China Southern

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