Northern Minerals Limited · ASX:NTU
Northern Minerals — Non-Deal Roadshow (August 2017)
42 slides from Northern Minerals's roadshow presentation, Aug 24, 2017
Slide 1: Northern Minerals: Powering the EV revolution
in) NORTHERN MINERALS . SB cereeress e EV revolution
Slide 2: Disclaimer
Disclaimer NORTHERN MINERALS 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 in the Company or as an inducement to make an offer or invitation wi
Slide 3: A new supply of heavy rare earths to the global market
NORTHERN MINERALS cor TTRGACE a new = ~— supply of heavy rare ~earths sto the. global market
Slide 4: Browns Range rare earth distribution
Northern Minerals Browns Range Rare earth distribution ! Neodymium sIs% ; Cerium 77% Lanthanum Europium boty ones Praseodymium Lutetium O88 080% 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 Mine
Slide 5: For personal use only
For personal use only
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For personal use only
Slide 7: Browns Range underway
Browns Range underway
Slide 8: For personal use only
For personal use only
Slide 9: 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 10: Browns Range supply reduces substitution risk
Browns Range supply reduces substitution risk 2,500 2174 2,000 1500 +— Browns Range q Full production é addresses supply gap 1000 and reduces potential for Terbium substitution 500 2017 2018 2019 2020 2021 2022 2023 2024 2025 LE] Production forecast | | Browns Range forecast* NORTHERN Forecast deman
Slide 11: Dysprosium Oxide China US$/kg forecast
For personal use only Dysprosium Oxide 99%min China US$/kg forecast
Slide 12: Dysprosium, terbium and lutetium oxide prices
$240 Dysprosium Oxide 99%min China US$/kg $230 For personal use only $220 Dy US$/kg $210 $200 $190 $180 $170 Terbium Oxide 99.9%min US$/kg 620.0 600.0 580.0 560.0 540.0 520.0 500.0 480.0 460.0 440.0 420.0 03-Jan-17 03-Feb-17 03-Mar-17 03-Apr-17 03-May-17 03-Jun-17 03-Jul-17 03-Aug-17 Lutetium Oxide
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}/ , | Ze é — Sr ae yy — \ ‘whlio.esn [odes Cane FI NORTHERN | Zz
Slide 15: Financing sources
For personal use only $10 million Sales Agreement Prepayment** $11 million Sinosteel Deferred Payment* $32 million R&D Financing Facility $14 million Lind Financing Facility $30 million Placements
Slide 16: Direct shipping route to China
For personal use only Direct shipping route from Wyndham or Darwin to Lianyungang, China • • •
Slide 17: Processing plant
Pilot Plant Processing Plant @@ sims Financing Grinding Magnetic Flotation Sales Agreement — on q_} G it Open Pit Mining Office & Camp Purific tailings Dam 2M geo Se Exportation Drying Carb Precipitation Schedule Feasibility Powering Technology. Separation (oi Mineral Sulphation Bake Project Compone
Slide 18: Project development: financing and feasibility
| NORTHERN »4 MINERALS Financing Sales Agreement Processing Plant Open Pit Mining Office & Camp Tailings Dam Schedule Feasibility
Slide 19: Open pit mining
NORTHERN MINERALS Open Pit Mining Financing Sales Agreement Processing Plant Sen Pit Mining Office & Camp Tailings Dam Schedule Project Component: Scale: Feasibility C Pit Mining 180,00O0t ore minec Contractor: Total Cost: MACA Limited A$6 million Powering Technology.
Slide 20: Office and camp infrastructure
Office and camp infrastructure @@ sxe Financing Sales Agreement Processing Plant Open Pit Mining Office & Camp Failings Dam . ° Details: Schedule Feasibility Status: Capital Cost: Powering Technology.
Slide 21: Wunan Foundation indigenous training facility
wunar’ Choose your future Financing Sales Agreement Processing Plant Open Pit Mining Office & Camp Tailings Dam Schedule Feasibility NORTHERN MINERALS Northern Minerals has partnered with The Wunan Foundation for the establishment of an $8.1 million indigenous training-to-work facility at Browns Ran
Slide 22: Construction of tailings storage facility
NORTHERN (| MINERALS Financing Sales Agreement Processing Plant Open Pit Mining Office & Camp Schedule Construction of tailings storage facility Status: Feasibilit . , a easiouy Commenced June 2017 using waste material from open pit mining Contractor: MACA Limited Capital Cost: A$1.2 million
Slide 23: Project development schedule
Project develooment schedule Financing Sales Agreement Processing Plant Open Pit Mining Office & Camp Tailings Dam Feasibility -o—e e Apr ‘17 Jun ‘17 i Sep ‘17 Dec ‘17 Mar ‘18 Jun 18 Final Q Investment @ Cc [ @ Decision Mining Mining & Mining 9 fleet siteworks completed, fan) [ (n) @ mobilised comme
Slide 24: Pilot Plant feasibility
Financing Sales Agreement Processing Plant Open Pit Mining Office & Camp Jailings Dam Schedule Powering Technology. Pilot Plant feasibility = The three-year pilot project has been designed to assess the technical and economic feasibility of the proposed full-scale development. Key aspects of assessm
Slide 25: Key Personnel and Partners
Key Personnel and Partners Key Site Personnel: Chris Lee - Resident Manager Eben Van Rooyen - Project Manager Louis de Klerk - R&D Manager db SINOSTEEL PRIM=RO NORTHERN ® 06 me wunan Powering Technology.
Slide 26: Blue Sky potential
Blue Sky potential : ame 2 GAMBIT / GAMBIT WEST | [[] Norther Minerals Granted Tenement CJ Northern Minerals Tenement Application [J Granted Mining Lease M80/627 wy Northern Minerals REE Mineral Resource © Northern Minerals REE Prospects NORTHERN J 2 MINERALS Powering Technology. NORTHERN MINERALS J
Slide 27: John Galt
i i iat NORTH MINERALS Powering Technology. Range: John Galt O@ sts 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 Har
Slide 28: Beyond Browns Range: Boulder Ridge
Beyond Browns Range: Boulder Ridge OO sian ® 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 29: For personal use only
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Slide 30: Northern Minerals Limited Share Price Performance
For personal use only Northern Minerals Limited Share Price Performance 3.5 0.16 3.0 0.14 0.12 2.5 Share Price ($/share) 0.10 Volume (m) 2.0 0.08 1.5 0.06 1.0 0.04 0.5 0.02 0.0 0.00 17 Feb 02 15 28 10 Apr 21 Apr 04 17 30 12 Jun 23 Jun 06 Jul 19 Jul 01 Aug 14 Aug 17 Mar Mar Mar 17 17 May May May 17 1
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Slide 32: Appendices
Appendices NORTHERN MINERALS Powering Technology.
Slide 33: Browns Range - A Seven Year Journey
Browns NTU shifts focus to HRE John Galt acquisition Rock Chip samples First benefication results NORTHERN MINERALS Range - A Seven Year Journey Discovery of Boulder Ridge First hydro- metallurgy Upgraded Maiden results JORC drilling Resource campaign Maiden JORC at Browns Resource $26 million Range
Slide 34: Global EV growth drivers
Global EV growth drivers | Battery technology & ce Regulatory support eliminating range technology for lower emission vehicles Consumer demand EVs approaching price reaches inflection parity with combustion point vehicles NORTHERN MINERALS Powering Technology.
Slide 35: EV acceptance reaches inflection point in 2017
EV acceptance reaches inflection point in 2017 _ yrance to end icles Juv7 2017 Forbes shift to Electric Vehi ae NORTHERN MINERALS Powering Technology.
Slide 36: Chinese carmakers to dominate EV production
Chinese carmakers to dominate EV production ‘Sy Ss GEELY SS, (I=) &) FoTon GACMOTOR BAMZGtOUs iz ze C @ RARIZZE CHERY Great Wall hte are CHANGAN ans (as D 5 @) GD <7 Hama dp + DFM YAS Oo. Qe & aoa TESLA NORTHERN MINERALS Powering Technology.
Slide 37: Mineral Resources
For personal use only 1 – Rounding may cause some computational discrepancies (TREO (metal) tonnes estimated from Mt x TREO%)
Slide 38: 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 39: Resource notes and TREO definition
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 40: NTU Board
NTU Board edi Colin McCavana - Non-executive Chairman Mr McCavana has more than 35 years of management experience worldwide in the earthworks, construction and mining industries. George Bauk - Managing Director / CEO George is an experienced executive, with over 25 years’ experience in the resources
Slide 41: Management team
Mark Tory Chief Financial Officer Mark is a Chartered Accountant with 25 years of professional experience in the mining industry and accounting professions. Prior to Northern Minerals, Mark held senior positions at Crescent Gold Limited, Anglo American Exploration and Homestake Gold (now Barrick Gol
Slide 42: The Northern Minerals SPIRIT
The Northern Minerals SPIRIT OO sects SAFETY TEAMS fal J2 PEOPLE NORTHERN MINERALS INITIATIVE INTEGRITY RESULTS Powering Technology. a?