Northern Minerals (ASX: $NTU) receives new assay results

Australian heavy rare earths focused company Northern Minerals Limited (ASX: $NTU) has received new assay results from the Mineral Resource definition drilling program at its 100%-owned Browns Range heavy rare earths project, in the East Kimberley region of Western Australia. The results will contribute to the update of the Minerals Resource Estimate (MRE) by the end of Q3 this year, which will feed into an updated Definitive Feasibility Study (DFS) for Browns Range targeted for completion in Q4.

Executive Commentary on New Assay Results

These are exceptional assay results from this important Mineral Resource definition drilling program. Both the grade and the apparent widths reported are very encouraging. The team will now incorporate these results into an updated Mineral Resource Estimate for Browns Range with the target to re-classify the majority of the existing Inferred resource at Wolverine into the Indicated classification. In addition to the assays, the drilling program has delivered greater orebody knowledge, particularly assisting in better interpreting the regional geological structural controls which will be invaluable when applied to future exploration drilling campaigns. Once completed, this Mineral Resource Estimate will be a key determinant of the ultimate mining and processing shape of the Browns Range Heavy Rare Earths Project and enable the Company to finalize the Definitive Feasibility Study. We are extremely proud of the team in completing a safe, uninterrupted and incident free drilling program, particularly in circumstances where the Browns Range site and surrounding infrastructure was severely impacted by unseasonal weather. I would also reiterate our appreciation for the support provided by our Native Title partners, the Jaru People, as well as the Federal Government through its Critical Minerals Development Grant Program. I look forward to updating Shareholders as we advance these next, very important work streams for Browns Range.

Summary of New Assay Results and Outlook

Northern Minerals has received exceptional heavy rare earth assays from the Mineral Resource definition drilling program at the Wolverine Deposit, which will contribute to the update of the Minerals Resource Estimate (MRE) by the end of Q3 this year. The MRE update is scheduled to underpin the completion of the Browns Range Definitive Feasibility Study targeted for Q4. The company aims to re-classify the majority of the existing Inferred resource at Wolverine into the Indicated classification based on the new assay results. These results will be crucial in determining the mining and processing shape of the Browns Range Heavy Rare Earths Project. Northern Minerals expresses pride in the safe and uninterrupted completion of the drilling program, despite severe weather impacts, and acknowledges the support from Native Title partners and the Federal Government. The company looks forward to advancing the next important work streams for Browns Range and updating shareholders accordingly.