Northern Minerals Limited · ASX:NTU
Northern Minerals — Non-Deal Roadshow (September 2017)
41 slides from Northern Minerals's roadshow presentation, Sep 11, 2017
Slide 1: Powering technology: the EV revolution
in) NORTHERN a MINERALS b tecnnology the EV revolution — 7 New York | Melbourne Sydney September 2017
Slide 2: Disclaimer
Disclaimer i 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 those
Slide 3: For personal use only
For personal use only
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 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 5: Browns Range underway
Je N “s ~~ NORTHERN © MINERALS Browns Range underway _ a hESe Only, A OF ETS i. Weg Wolverine: Pit development work in action eg
Slide 6: Gambit West ore visible in base of pit
NORTHERN _ MINERALS “ Mas & Gambit West: Ore (darker zone) visible in base of pit
Slide 7: Browns Range underway: new airstrip
N NORTHERN Browns Range underway Browns Range - Aircraft landing on new airstrip
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 price forecast
For personal use only Dysprosium Oxide 99%min China US$/kg forecast
Slide 12: HRE sustainable pricing
HRE - sustainable pricing 06 Nome Dysprosium Oxide 99%min China US$/kg 400 Increased demand from new EV sales coupled with crackdown on Dy US$/kg 200 illegal mining in China is "Rsep-2 03-Sep-13, 03-Sep-14 03-Sep-15 03-Sep-16 03-Sep-17 positively impacting prices $900 $800 $700 $600 $500 $400 $300 $
Slide 13: For personal use only
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Slide 14: For personal use only
iho: < SS: By NORTHERN ~
Slide 15: Financing facilities
$6 million For personal use only Lind Financing Facility*** - drawn down $26 million $8 million Placements completed Lind Financing Facility*** - available $11 million Sinosteel Deferred $38 million Payment* R&D Financing Facility $10 million Sales Agreement Prepayment**
Slide 16: Sales agreement and shipping route
For personal use only Direct shipping route from Wyndham or Darwin to Lianyungang, China • • •
Slide 17: Pilot plant processing flowsheet
Pilot Plant Processing Plant @@ stm ® & Open Pit Financing e Crushin Sales Agreement Processing Plant (Al Stored Mineral Open Pit Mining Concentrate Site Admin Purification ga $$$ failings Dam Exportation Containerised Mixed Sulphation Rare Earth Carbonate (REC) Carbonate Water Bake Precipitation Le
Slide 18: Processing plant
NORTHERN MINERALS Financing Sales Agreement Processing Plant Open Pit Mining Site Admin Tailings Dam Schedule Feasibility
Slide 19: Open pit mining
Open Pit Mining OO sae Financing Sales Agreement Processing Plant Site Admin Tailings Dam Schedule Project Component: Scale: Mining & Strip Ratio: Feasibility Open Pit Mining 180,000t ore mined Gambit West 135kt = =4.3:1 Wolverine 45kt___7.3:1 Contractor: Total Cost: Total 180kt 5.0:1 MACA Limited A
Slide 20: Wunan Foundation training facility
wunanr’ Choose your future Financing Sales Agreement Processing Plant Open Pit Mining Site Admin Tailings Dam Schedule 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
Slide 21: Tailings dam
For personal use only Details: Construction of tailings storage facility Status: Works commenced, expected completion September 2017 Contractor: MACA Limited Capital Cost: A$1.2 million
Slide 22: Project development schedule
Project develooment schedule ly inancing €,0n Wales Agreement U Processing Plant nal Open Pit Mining <— Fae Admin Tailings Dam Feasibility LL, Apr ‘17 Jun ‘17 Sep,17 Dec ‘17 Mar ‘18 Jun 18 Final Investment @EC @ Decision Mining Mining & Mining fleet siteworks completed, fan) Ne mobilised commenced o
Slide 23: Pilot Plant feasibility
Financing Sales Agreement Processing Plant Open Pit Mining Site Admin 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 assessment d
Slide 24: 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 Limited d SINOSTEEL PRIM=RO BREVET CAPITAL MANAGEMENT NORTHERN MINERALS Powering Technology.
Slide 25: Blue Sky potential
Blue Sky potential [—] Northern Minerals Granted Tenement [J Northern Minerals Tenement Application Cy Granted Mining Lease M80/627 x Northern Minerals REE Mineral Resource © Northern Minerals REE Prospects NORTHERN MINERALS Grossing \_Halls.ck Powering Technology. NORTHERN MINERALS JORC Resource su
Slide 26: Beyond Browns Range: John Galt
Beyond Browns Range: John Galt O@ ss ® 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 ® Hard-rock source of scr
Slide 27: Beyond Browns Range: Boulder Ridge
Beyond Browns Range: Boulder Ridge OO sine ® 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 28: For personal use only
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Slide 29: Corporate Overview
NORTHERN MINERALS Corporate Overview Market capitalisation $100M (at 8 September 2017 @ $0.13) Ordinary Shares 767M Options and Performance Rights 72M Cash (30 June 2017) $8.5M 12 month low - high $0.087 -$0.175 Average daily volume (12 month avg) 563,000 Average daily volume (1 month avg) 982,000 D
Slide 30: For personal use only
For personal use only
Slide 31: Appendices
Appendices NORTHERN MINERALS Powering Technology.
Slide 32: Browns Range - A Seven Year Journey
Browns Range - A Seven Year Journey $38m R&D Financing Facility executed 80t bulk sample $14m Lind processed Facility executed Maiden JORC Fabrication commenced Ore Reserve nchina EPA approval Mining starts at NTU shifts focus granted Browns Range Divestment to HRE of non-core Mining Licence HRE acs
Slide 33: 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 34: 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 35: 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 36: Mineral Resources
For personal use only 1 – Rounding may cause some computational discrepancies (TREO (metal) tonnes estimated from Mt x TREO%)
Slide 37: 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 38: Resource notes
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 39: 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 40: Management team
For personal use only Mark Tory Robin Jones Robin Wilson Christopher Lee Eben Van Rooyen Chief Financial Officer Chief Operating Officer Exploration Manager Resident Manager Project Manager Mark is a Chartered Robin has more than 20 Robin has held senior Chris is a degree qualified Mr Van Rooyen is
Slide 41: The Northern Minerals Spirit
The Northern Minerals SPIRIT OG sitet SAFETY TEAMS ial J2 PEOPLE NORTHERN MINERALS INITIATIVE INTEGRITY RESULTS Powering Technology. a?
Northern Minerals — Non-Deal Roadshow (September 2017) on 6ix