Northern Minerals Limited · ASX:NTU
Northern Minerals — Non-Deal Roadshow (December 2017)
37 slides from Northern Minerals's roadshow presentation, Dec 5, 2017
Slide 1: Delivering critical technology metals to the EV evolution
Delivering critical technology metals to the EV evolution North American Roadshow NO RTH E RN December 2017 MINERALS
Slide 2: Disclaimer
Disclaimer otal the This presentation has been prepared by Northern Minerals Limited (“Northern Minerals” or the “Company") It should not be considered as an offer or invitation to subscribe for or purchase any securities Company or as an inducement to make an offer or invitation with respect to tho
Slide 3: Technology metals for electric vehicles
Li Lithium For personal use only Al Aluminium Co Cobalt Mg Magnesium Copper C Graphite Cu Ni Nickel Dysprosium Dy Fe Mn Mo V Neodymium Nd
Slide 4: Dysprosium demand and EV sales forecast
For personal use only 66 99% Dy Lighter & More Efficient Production from 162.5 China 20m 100g 2,000tpa Forecast EV sales Dysprosium per EV demand for Government by 2020 electric vehicle Dy by 2020 mandated change
Slide 5: Rare earth distribution
Northern Minerals Browns Range Rare earth distribution ' Neodymium sIs% ; Cerium 77% Lanthanum Europium boty ones Praseodymium Lutetium O88 o80% Thulium 074% Terbium ys28 Holmium 184% Samarium 21% Ytterbium. 4.59% Yttrium — Erbium 58.21% 533% Gadolinium 571% Dysprosium 8.79% 1 Based on Wolverine Min
Slide 6: Heavy rare earth price charts
For personal use only Source: Adamus Intelligence, Northern Minerals
Slide 7: Dysprosium, terbium and lutetium prices
Dysprosium Oxide 99%min China US$/kg 500 For personal use only 400 Dy US$/kg 300 200 100 0 Terbium Oxide 99.9%min China US$/kg 800 700 600 Tb US$/kg 500 400 300 200 5/11/2012 5/11/2013 5/11/2014 5/11/2015 5/11/2016 Lutetium Oxide 99.9%min China US$/kg 1,400 1,300 1,200 1,100 Lu US$/kg 1,000 900 800
Slide 8: For personal use only
For personal use only • • • • • • • • • • • • • •
Slide 9: New supply of heavy rare earths from 2018
in 2018, we.wilt commence ae s new supply of heavy tare — = -— earths-to the global market — NORTHERN TERRITORY WESTERN AUSTRALIA
Slide 10: Gambit West and Wolverine
For personal use only Gambit West Wolverine
Slide 11: Components and equipment unloaded in Darwin
For personal use only Components and equipment unloaded in Darwin
Slide 12: Fabrication works 95% complete in China
For personal use only Fabrication works +95% complete in China
Slide 13: Project development schedule
Project develooment schedule -o—e e od e e Apr ‘17 Jun ‘17 Sep ‘17 Dec ‘17 Mar ‘18 Jun 18 Processing Plant Final A Investment ele @ \ Decision = | I = Mining completed, inn) l Ne ore stockpiled Fabrication 95% Plant modules 8 complete in transported (U}|} China To Australia Commencement il A Site l
Slide 14: Financing
For personal use only $10 million $31.5 million Sales Agreement R&D Financing Facility - Prepayment** Available $11 million Sinosteel Deferred Payment* $8 million Lind Financing Facility*** - available $6 million Lind Financing Facility*** - drawn down $29 million $6.5 million Placements completed R
Slide 15: Shipping route to China
For personal use only Direct shipping route from Wyndham or Darwin to Lianyungang, China • • •
Slide 16: Community: Wunan Foundation training facility
wunair Mining Processing Plant Schedule Financing Sales Agreement Community Feasibility 4) NORTHERN PO MINERALS Northern Minerals has partnered with The Wunan Foundation for the establishment of an $8.1 million indigenous training-to-work facility at Browns Range. The Federal Government, under the B
Slide 17: Full scale feasibility
NORTHERN MINERALS Full scale feasibility Mining * The three-year pilot project has been designed to assess the Processing Plant technical and economic feasibility of the proposed full-scale development. Schedule * Key aspects of assessment during the Pilot Plant phase: @ = Mining and ore variability
Slide 18: Blue Sky potential
Blue Sky potential pt nome The Browns Range dome is a massive geological feature covering 1,500km2 and stretching 6O0km x 30km most of which hasn’t been effectively explored @ JORC Resource supporting an 11 year full scale operation @ Exploration target to add additional 9 years of JORC Resources (u
Slide 19: Key Personnel and Partners
Key Personnel and Partners Key Site Personnel: Eben Van Rooyen - Resident Manager Louis de Klerk - R&D Manager d SINOSTEEL PRIM=RO Limited BREVET CAPITAL MANAGEMENT NORTHERN MINERALS Powering Technology.
Slide 20: Key Highlights
Key Highlights 2017] 4, HIGHLIGHTs | OMX || $29M | Fee {0} OFFTAKE AGREEMENT 100% of Pilot Plant production contracted to JEMAG FABRICATION 95% COMPLETE DEBT FACILITIES $38m R&D Financing Facility plus $14m Lind Facility INSTALLATION om ruction ( Powering Technology.
Slide 21: 2018 - Delivering on potential
2018 - Delivering on potential Powering Technology. PRACTICAL COMPLETION ce Re z e multiple HRE CASHFLOW Commen FIRST PRODUCT DELIVERY Mixed rare earth carbonates
Slide 22: Corporate Overview
NORTHERN MINERALS Corporate Overview Market capitalisation $88M (at 29 November 2017 @ $0.11) Ordinary Shares 798M Options and Performance Rights 72M Cash (30 September 2017) $5.0M 12 month low - high $0,092 -$0.145 Average daily volume (12 month avg) 505,000 Average daily volume (3 month avg) 602,0
Slide 23: Delivering critical technology metals to the EV evolution
NORTHERN MINERALS Delivering critical technology metals to the EV evolution
Slide 24: Appendices
Appendices NORTHERN MINERALS Powering Technology.
Slide 25: Heavy rare earths crucial to growth of electric vehicle sector
Heavy rare earths crucial to growth of electric vehicle sector @ NdDyFeB permanent magnets used by major electric vehicle (EV) manufacturers require Dysprosium and Terbium as key additives for high performance ® Changing policy settings by European governments and future develooment plans by global
Slide 26: Browns Range - A Seven Year Journey
Browns Range - A Seven Year Journey NTU shifts focus to HRE John Galt acquisition Rock Chip samples Bench scale NAGROM benefication results NORTHERN MINERALS Powering Technology. Maiden drilling Browns Range EXPLORATION ea | Bench scale NAGROM/ ANSTO hydro- metallurgy results Maiden JORC Resource re
Slide 27: EV demand drivers
For personal use only Battery technology Regulatory support for eliminating range technology lower emission vehicles Consumer demand EVs approaching price parity reaches inflection point with combustion vehicles
Slide 28: EV acceptance reaches inflection point in 2017
FV acceptance reaches inflection point in 2017 Macquarie leasing drives electric vehicle and energy efficiency push with $100M in CEFC finance NORTHERN MINERALS Powering Technology.
Slide 29: Chinese carmakers to dominate EV production
Chinese carmakers to dominate EV production Sy Say GEELY @® @ (@ Faron J2eH) BAIC Group ie CHANGAN ans aN D ~> Hama @) @ GO dp + DFM YAS 6 7 @®e » @ @& F TESLA NORTHERN MINERALS Powering Technology.
Slide 30: Mineral Resources
For personal use only 1 – Rounding may cause some computational discrepancies (TREO (metal) tonnes estimated from Mt x TREO%)
Slide 31: Ore Reserves
Ore Reserves NORTHERN MINERALS Deposit Classification Ore kg/t kg kg/t kg kg/t kg kg/t kg Tonnes Contained Contained Contained Contained OPEN PIT Wolverine Probable 833,000, 615 5,124,000 | 0.55 460,000} 0.08 66,000 | 3.59 2,989,000 Gambit West Probable 219,000 | 1010 2,212,000 | 083 182,000 on 25,0
Slide 32: Browns Range: John Galt
i i iat NORTH MINERALS Powering Technology. Range: John Galt O@ seas Rock chip samples up to 42% TREO with approximately 95% Heavy REO Preliminary metallurgical tests indicate excellent recovery rates (>90%) Potential for concentrate grades >40% High grade mineralisation in talus (scree) material Ha
Slide 33: Beyond Browns Range: Boulder Ridge
Beyond Browns Range: Boulder Ridge OO sree ® Rock chip samples from the Boulder Ridge project confirm high-grade Heavy Rare Earths (HRE) @ Best results exceed 12% TREO, including up to 115% Dysprosium, with a dominance of HRE - up to 99%, ®@ Reinforces significant growth potential in Browns Range an
Slide 34: Notes on resources and TREO
For personal use only Figures may not add due to rounding TREO = Total Rare Earth Oxides- Total of Dy2O3,La2O3, CeO2, Pr6O11, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3
Slide 35: Board of Directors
For personal use only Colin McCavana - Non-executive Chairman (appointed 2006) Mr McCavana has more than 35 years of management experience worldwide in the earthworks, construction and mining industries. George Bauk - Managing Director / CEO (appointed 2010) George is an experienced executive, with
Slide 36: Management team
For personal use only Mark Tory Robin Jones Robin Wilson Eben Van Rooyen Chief Financial Officer Chief Operating Officer Exploration Manager Resident Manager Mark is a Chartered Robin has more than 20 Robin has held senior Mr Van Rooyen is a Project Accountant with 25 years of years experience in th
Slide 37: The Northern Minerals SPIRIT
The Northern Minerals SPIRIT OG sites SAFETY TEAMS ial J2 PEOPLE NORTHERN MINERALS INITIATIVE INTEGRITY RESULTS Powering Technology. a?
Northern Minerals — Non-Deal Roadshow (December 2017) on 6ix