Browns Range Heavy Rare Earths Project - Update

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1 14 March 2018 Browns Range Heavy Rare Earths Project - Update ELECTRIC VEHICLES NOT JUST A LITHIUM STORY Northern Minerals Managing Director, George Bauk is pleased to provide a progress update on the Browns Range Pilot Plant Project, under construction in the East Kimberley region of WA, including the following achievements: Steady progress continues on the Pilot Plant installation, on track for completion by 30 June 2018; Commissioning planning targeting crushing circuit for early commissioning; Bonus Issue to go to Shareholders for approval. As a result of the successful Share Purchase Plan (SPP), the Company will accelerate its plans to fast-track the project enhancement initiatives at Browns Range (as announced on 27 December 2017), including downstream processing options and an increase in exploration, aimed at extending the potential mine life of the full-scale project from 11 years to >20 years. Site Overview

2 Process Plant 7 March Primero Group has improved progress on installation of structural steel, process plant modules and mechanical equipment. With E-houses and key cable trays now complete, installation of main cable runs has commenced. Piping installation works in the beneficiation plant is progressing. Completion is on track for 30 June Cables installation commenced

3 Kiln waste gas scrubber installation Final alignment of conveyor idlers has commenced in preparation for belt installation. Commissioning planning continues to advance, targeting the crushing circuit for early commissioning. Flag Poles erected at site.

4 DOWNSTREAM SEPARATION UPDATE Work has commenced on developing a plan on downstream processing. During the past fortnight a number of meetings have been held with various technology companies developing rare earth separation technology and processes. The next steps include developing a basic work program timeline and budget. FUNDING UPDATE The company also announced on the 23 rd February, the process for the approval of the Bonus Listed Option for all eligible shareholders for a 1 for 5 allocation of a $0.12 listed option with an expiry date of 31 December The company plans to lodge a notice of meeting in relation to the bonus issue in the coming weeks following regulatory approval. INDUSTRY NEWS The Company is pleased to report the increased level of interest taken by the United States in securing sources of critical metals, including rare earths. US President Trump and Australian Prime Minister Turnbull discussed the issue when Mr Trumbull was in Washington recently, with both countries agreeing to work collaboratively on identifying and securing new sources of rare earths. Northern Minerals is extremely well placed to capitalise on this attention to heavy rare earths as critical for the future of global technology. PROMOTION On the 2nd of March, George Bauk hosted by German Mining presented to a number of sophisticated investors and analysts in Zurich. Northern Minerals attended the 2018 PDAC conference in Toronto meeting investors, financiers including Lind, analysts, rare earth companies and downstream processing companies. Northern Minerals presented in New York for 2 days which included meeting with current financiers Brevet, investors and rare earth end users and providers of downstream processing. Meetings also held in Washington DC with various government agencies.

5 Northern Minerals delegates attended the 2018 (8th) China Rare Earth Industry Conference in Ningbo. For further information: For media and broker enquiries George Bauk Andrew Rowell / Michael Cairnduff Managing Director/CEO Cannings Purple Northern Minerals About Northern Minerals: Northern Minerals Limited (ASX: NTU; Northern Minerals or the Company) has commenced development of the Browns Range Heavy Rare Earth Pilot Plant Project in northern Western Australia. Through the development of its flagship project, the Browns Range Project (the Project), Northern Minerals aims to be the first significant world producer of dysprosium outside of China. The Project is 100% owned by Northern Minerals and has several deposits and prospects containing high value dysprosium and other HREs, hosted in xenotime mineralisation. Dysprosium is an essential ingredient in the production of DyNdFeB (dysprosium neodymium ironboron) magnets used in clean energy and high technology solutions. The three-year R&D pilot plant project will commence first production of heavy rare earth carbonate in H The pilot plant development provides the opportunity to gain production experience, surety of supply for our offtake partner and assess the economic and technical feasibility of the larger full-scale development. For more information: northernminerals.com.au. ASX Code: NTU Market Capitalisation: A$97m Issued Shares: 1,092m Cash (as at 28 February 2018): A$14.9m