Equity/Losses June 13

Another busy year, $10,381,431 of shares issued, and burnt thru another $20M of cash:



Sorry to disappoint but things got a bit monotone this years, no glossy "achievements" that I could find, have to settle for a "REVIEW OF OPERATIONS":

September 2012 Quarter
 Ongoing drilling and metallurgical work, continued to produce outstanding results and
advanced the project closer to production.
 The Company expanded its presence in the region with the successful granting of additional
tenements over the Browns Range Dome in the Northern Territory (NT).
 Completed a regional drilling program that continued to identify exciting new prospects across
the Browns Range Dome area.
 Results from initial hydrometallurgical studies were received indicating the suitability of
processing the Browns Range mineral concentrate to a high purity mixed rare earth oxide
using conventional unit hydrometallurgical processes.
 The Company commenced the formal process to divest some of its non-HRE assets, in
particular, the large and prospective Gardiner Tanami land package.
December 2012 Quarter
 The Company released its initial JORC compliant resource of 1.44Mt @ 0.73% TREO
comprising 10,500t TREO, with a key feature being the dominance of high value dysprosium
and yttrium.
 The Company’s regional exploration activities also confirmed a number of new HRE targets at
the Browns Range project, with the drilling activities confirming a pipeline of potential projects
which could contribute to the mineral inventory.
 Northern Minerals reached an MOU for the off-take of HREO from Browns Range. The
agreement was struck with a global leader in mining and materials for a portion of the Browns
Range product.
 The Company successfully raised an additional $5 million to drive the next stages in the
exploration and studies program.
March 2013 Quarter
 The Company delivered a major funding initiative during the quarter, announcing a finance
package to raise $58 million, subject to shareholder approval.
 The 2013 drilling program commenced with 20,000m targeting an expansion of the initial
JORC resource.
 Metallurgical studies confirmed the ability to produce a high value, 92% mixed rare earth
oxide.
 New airborne survey results identify geophysical anomalies (possible heavy rare earth targets)
on recently granted tenements on the Northern Territory side of the Browns Range Dome.
June 2013 Quarter
 The Company received initial assay results from its Gambit West prospect which included the
highest grades received to date from the Browns Range Project.
 Early indications from diamond drilling at Wolverine indicated further extensions of
mineralisation at depths below 150m and down to 300m.
 Positive results were received in optimisation of ore beneficiation and hydrometallurgical
processes, following completion of a floatation mini-pilot plant to treat one tonne of ore.
 The Environmental Protection Authority set the level of assessment for the Project as an
Assessment on Proponent Information which supports the current development timeline.
 Finalisation of the Scoping Study deferred to incorporate the updated resource due in October
2013 and inclusion of the hydrometallurgical process step.
 Underwriting of the $26.5 million rights issue approved by shareholders and first instalment of
funds received.
 $8 million secured via two interest free loans from Australian Conglin International Investment
Group which was subsequently converted to equity as a part of the underwriting.

0.73% TREO with 6000t "high value" yttrium definite highlight there.