Future Prospects

Exploration Philosophy

The Company’s main exploration objective is to identify additional high-grade (>0.5% TREO), near-surface (open-pittable) heavy rare earth (HRE) Mineral Resources with xenotime as the dominant rare earth mineral. The primary focus is the immediate Browns Range (WA) area, where the Company is currently in a mine development stage. The Browns Range Dome (NT), Boulder Ridge (NT) and John Galt (WA) projects are also important target areas, with significant high-grade HRE xenotime mineralisation identified at all projects.

Northern Minerals’ exploration strategy is to develop a pathway of HRE prospects that can be developed into mineral resources, adding to the Company’s overall mineral inventory and extending the Browns Range Project resource life.