Europe’s Premium Iron Ore Miner

Please see Cautionary Statement

Karl-Axel Waplan, President and CEO

The High North -

Top Mining Region of the World Voksenåsen, November 14-15, 2012

First Big Bang in Kaunisvaara

2 September 2012

Kupari Rautuvaara

Rautuoja

Untested but identified targets in Kaunisvaara area

Europe’s Premium Iron Ore Miner

3

Kaunisvaara is on-track to reach production in Q4 2012 and Northland has material production upside from Pellivuoma,

Hannukainen as well as a portfolio of approximately 20 highly prospective exploration targets

On-track for first production in Q4 2012 and

first shipment in Q1 2013

Ramping up to ~4 dmtpa* in Q3 2014

High grade, low impurity iron ore concentrate

Kaunisvaara: Tapuli and Sahavaara, Sweden (100%) 1

Pellivuoma, Sweden (100%)

– DFS completion targeted in early 2013

Hannukainen, Finland (100%)

– DFS completion targeted by end of 2012

Potential Production upside 2

Rail Road Cities and Communities

Kaunisvaara Project Mineral Deposits

Existing Mines

Narvik

Gällivare Kolari

Pajala

Rovaniemi

Luleå Oulu

Tornio

Kemi

Tapuli

Sahavaara

Kiruna

Norway

Sweden

Finland

Norway

Sweden Finland

Pellivuoma

Hannukainen 2 2

1

* Dry million tonnes per annum

Extensive Exploration Targets 3

3

3

Ready to Start Operations

27 4

1. Completed recruitment of key operational

management and staff

2. On schedule to start production in November 2012

3. Plan to increase production volume to:

- 1.4 million tonnes in 2013

- 4 million tonnes annualized in Q3 2014

5

A Differentiated Investment Opportunity

Outlook for

iron ore

market

remains

attractive

Benefits

of partnering

with high quality

suppliers/

contractors

based

regionally

On-track to reach

production in

Q4 2012

High quality iron

ore concentrate

expected to

achieve a

significant price

premium

Significant

upside potential

from approximately

20 highly

prospective

exploration

targets

Existing

infrastructure

and skilled

workforce in an

established

mining region

Blue-Chip

Management

team has

experience

developing

mines

Listed in Toronto and Oslo

* Market Cap based on closing prices on

November 6, 2012 on TSX and OSL

Share Price Development

Stock Symbol Toronto Stock Exchange / Oslo Børs

NAU / NAUR

Current Share Price* CAD 0.82/ NOK 4.71

Indices MSCI NORWAY INDEX

Shares issued 514,178,899

Options 13,260,000

Warrants (Standard Bank) 1,697,995

Fully diluted 529,136,894

Market Cap* CAD 421.6m/

NOK 2,406m (USD 375.6m)

52 week trading range* CAD 0.59 – 2.00

NOK 3.46 – 11.65

Bonds Oslo Børs

NORES01 / NORES02

Share Overview

6

Oslo,

NAUR

Toronto,

NAU

Shareholders and Analysts

Rank Holding % Institution

1 49,202,731 9.6 Avanza Bank AB (Custodian bank)

2 35,232,269 6.9 Deans Knight Capital Mgmt

3 23,736,850 4.6 Handelsbanken, SWE+FIN (Custodian)

4 23,351,878 4.5 Nordnet Bank (Custodian bank)

5 22,481,088 4.3 Henderson Global Investors

6 17,102,815 3.3 SEB (Custodian bank)

7 14,821,690 2.8 Swedbank (Custodian bank)

8 12,885,284 2.5 Pohjola Bank

9 11,900,000 2.3 Kommunal Landspensjon

10 11,665,814 2.3 Holberg Funds

11 10,678,909 2.1 DNB Funds

12 10,551,842 2.0 Investec Asset Management

13 10,000,000 1.9 Fondsfinans Spar

14 8,140,000 1.6 Texas Teachers

15 6,600,000 1.3 Holta Invest

∑ 268,351,170 52.2

Northland compiled data using internal sources,

Oslo Børs and VPS as of November 2012

Arctic Securities Kenneth Sivertsen

DnB NOR Markets Sampsa Karhunen

First Securities Henrik Madsen

Goldman Sachs Fawzi Hanano

GMP Securities Matt Fernley

Handelsbanken Fredrik Agardh

Haywood Securities Colin Healey

Ocean Equities Adam Lucas

Nordea Johannes Grasberger

Pareto Securities Thomas Aarrestad

SEB Enskilda Peder Strand

Société Générale Abishek Shukla

TD Securities Craig Miller

Analyst coverage

7

8

Kaunisvaara (Tapuli and Sahavaara)

100% owned by Northland Resources

From Bog to Mine in Two Years

9

October 2011

October 2010

September 2012

This is Kaunisvaara Today

10 Kaunisvaara Process Plant mid-September 2012

Strong Logistical Chain

27 11 Pitkäjärvi trans-loading terminal, mid-September 2012

Spiral Discharge System

27 12

100% controlled Fagernes Terminal

will Handle Cape-size Vessels

27 13

Benefitting from Existing

Transportation and Logistics Network

14

Well-maintained, existing infrastructure, with good accessibility

SEK 1.3 bn will ensure the capability of existing

150 km public road from Kaunisvaara to Pitkäjärvi

Swedish Transport Administration expected to

grant dispensation for 90 tonne trucks

New trans-loading terminal at Pitkäjärvi will

provide access to railway

1

Roadway

Port Authority agreement for use of existing port

Northland is constructing a new iron ore terminal with heated storage facility

10 million tonnes capacity

Uncongested port can take Capesize vessels and is ice-free all year round

3

Seaport

(Narvik)

Existing 226 km Malmbanan “iron railway” has

capacity to meet projected demand

Railway owned by Swedish state and is “open

access”, requested four slots have been granted

SEK 1.3 bn will be invested by the Swedish

Government to upgrade and increase capacity

Railway

2

2

1 3

Port of Narvik

Kaunisvaara

Pitkäjärvi

Sweden

Finland

Pajala

Luleå

Narvik

Kolari

Trucking Route Rail Route

km 0 50 100 25

Norway

Successful Recruiting

15

4,500 applicants for 150 positions

Support from Central Government

16

“We have a fantastic mining

industry capable of meeting the

increase in demand”

Sweden’s Prime Minister, Mr. Reinfeldt

”Vi har fantastisk gruvnäring som möter en växande efterfrågan”

Sveriges statsminister, Fredrik Reinfeldt

“… we are working in parallel with a

study on how the logistics solution can

be solved in short as well long term”

Mrs. Elmsäter-Svärd, Minister for Infrastructure Ministry of Enterprise and

Energy, on the probability of a railway to Kaunisvaara

”... vi arbetar parallellt med att se hur transportlösningen ska se ut på såväl kort som lång”, Catarina Elmsäter-Svärd

A Stable and Thriving Local Community

17

600 new

homes will

strengthen the

Pajala

municipality –

creating a

stable and

thriving local

community

NSD, Sep 6, 2012

Hbwebben.se, Sep 11, 2012 NSD, Sep 6, 2012

18

Finalized the financing of the project Q1 2012

Started the Pitkäjärvi terminal ground work Q1 2012

Signed final agreements with Savage, Peab and Grieg Q2 2012

Logistics agreement signed with Green Cargo Q2 2012

Signed a USD 40 million Cost Overrun Facility with Standard Bank Q2 2012

Kiruna Municipality Grants Northland Building Permit in Pitkäjärvi Q2 2012

Raised a USD 350 million Bond Q2 2012

Finalized financing for Drill Rigs and Mobile Equipment Q2 2012

First delivery of Mobile Equipment from Caterpillar, Mills from Metso and

Drill Rigs from Atlas Copco Q2 2012

First Drawdown from the Bond Loan Facility Q2 2012

Second Drawdown from the Bond Loan Facility Q3 2012

First Ore Blasting in Kaunisvaara Q4 2012

Dispensation for 90 Tonnes Trucks Granted Q4 2012

Start up production in Kaunisvaara Q4 2012

Hannukainen DFS complete Q4 2012

Pellivuoma (additional deposit at Kaunisvaara) DFS complete Q1 2013

First concentrate shipment Q1 2013

We Continue to Tick the Boxes

ON

TIM

E

Production to Reach 4 dmtpa in Q3 2014

27 19

0,0

0,5

1,0

1,5

2,0

2,5

3,0

3,5

4,0

4,5

5,0

2013 2014 2015 2016 2017

Tapuli mine and Kaunisvaara plant:

– On track to start production in

November 2012 and make first

customer shipments in Q1 2013

– Production target 2013: 1.4 dmt1)

– to reach 4 dmtpa2) in Q3 2014

Sahavaara production will commence

in late 2016, while Tapuli production is

scaled down

Potential production upside from

development of Pellivuoma,

Hannukainen and additional

exploration properties

Production Pipeline

Tapuli

Sahavaara

Kaunisvaara

Million tonnes

Upside potential from

Pellivuoma, Hannukainen

and exploration properties

1)Dry million tonnes, 2) Dry million tonnes per annum

Sufficient Funding to Generate Revenues

20

Investment(Northland Resources)

7 000 mSEK Northland in Sweden

out of which

1 000 mNOK Northland in Narvik

Additional

Peab Cliffton purchase 400 trucks

Gvmnt Road improvemnets 1 300 mSEK

About 600 New flats/houses Pajala

Recent Capital Raising, USDm

Equity fundraising (Dec 2010)* 250

Equity fundraising (Feb 2012)* 325

Bond issuance (Mar 2012) 350

Caterpillar financial mobile

equipment lease facility 65

Atlas Copco equipment lease 8

Total Raised 998

Cost Overrun Facility provided

by Standard Bank 40

Letter of Intent signed with

Stemcor 50

* Majority for the Kaunisvaara development

Kaunisvaara Concentrate –

Quality Leader

21

Northland

Low silica and alumina content lead to

lower flux additions, less slag and

lower energy consumption

Phase 2 of our Growth Strategy –

Pellivuoma

22

Located approximately 15 km west of Kaunisvaara

The deposit has the potential to make a significant contribution

to the resource tonnage of the Kaunisvaara area

Potential scenarios include an increase in the production of high grade

concentrate, or an extension of the life of the Kaunisvaara operation in combination

with an increase in production

Definitive Feasibility Study is underway and is expected to be completed early 2013

Photos: Erik Karlsson

Phase 2 of our Growth Strategy –

Hannukainen

23

Brownfield project located in Northern Finland

Open pit mine operated by Rautaruukki and Outokumpu during the 1970s and 1980s

Planned production rate of 2 million tonnes per annum of 68% Fe iron ore concentrate

Copper/gold concentrate by-product will be a major revenue contributor

Definitive Feasibility Study completion scheduled for the beginning Q1 2013

Success Criteria, Challenges and

Opportunities

27 24

1. Stable political situation and rights in respect of

ownership

2. Mining tradition, knowledge and major technology

suppliers

3. Infrastructure

4. Permitting process

5. Training and education

6. Joint Nordic activities to develop technology

25

Funded to Reach Production

On-track to

reach

production in

Q4 2012

First production in November 2012

Expected positive cash flow as of end of Q2 2013

High-quality concentrate shipped to customers

in Q1 2013