Iron Drill

Corporate Information

Northern Iron is a mineral exploration company focused in high quality iron ore in the Red Lake mining division, district of Kenora, Ontario, Canada. Northern Iron holds 100% interest in minerals claims covering approximately 14,672 hectares, comprised of the El Sol (former Kesaka deposit) Property, the Griffith (former Griffith mine) Property, the Karas Property, the Papaonga Property and the Whitemud (former Ogani deposit) Property. The Red Lake area is accessible by Highway 105, which joins the Trans Canada highway at Vermillion Bay, 175 km south and 100 km east of Kenora. Commercial air services operate to Red Lake from Thunder Bay, Ontario and Winnipeg, Manitoba.

Mining activities are conducted year round from the municipality of Ear Falls, Ontario and are located near established power and road infrastructure. Local businesses offer most goods and services required for mineral exploration and development. Additional supplies can be sourced as needed from Red Lake, Thunder Bay, Winnipeg and Toronto.

Total historic iron ore resources in Northern Iron's mineral claims are over 560 million t ("Iron Deposits of Ontario" R. Shklanka, 1968), of which 312 million t (at 31.1% Fe) are attributable to the El Sol Property ("Iron Deposits of Ontario" R. Shklanka, 1968), 21 million t (at 22.8% Fe) are attributable to the Karas Property ("Iron Deposits of Ontario" R. Shklanka, 1968) and 120 million t (at 29% Fe) are attributable to the Griffith Property ("Mining and Mineral Exploration Northwest Ontario – Fall 2009" MNDM, 2009). These historical resource estimates were completed prior to the implementation of NI 43-101 and should not be relied upon. The specified data used to generate the estimates is incomplete and/or not available, has not been confirmed by Northern Iron, and a Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves under NI 43-101. Northern Iron is not treating the historical estimates as current mineral resources or mineral reserves. However, although the historical estimates have not been audited or confirmed they are believed by Northern Iron to be of historical importance.

Three Years History

Northern Iron was incorporated on November 20, 2009. Northern Iron is a junior natural resource and mining company which is in the business of acquiring and exploring mineral properties in Red Lake mining division, Ontario and other locations. Northern Iron is currently engaged in the exploration of high-quality iron ore in the Red Lake mining division.

In 2010, Northern Iron acquired the El Sol Property, the Griffith Property, the Karas Property, the Papaonga Property, and the Whitemud Property.

The El Sol Property, Karas Property and Griffith Property are held 100% by Northern Iron and consist of mineral claims covering approximately 6,000 hectares. Total historic iron ore resources in the mineral claims comprising these properties are approximately 560 million t, including approximately 312 million t at 31.1% Fe attributable to the El Sol Property and approximately 21 million t at 22.8% Fe attributable to the Karas Property. The historic resource on the El Sol Property was based on a preliminary engineering study produced by H. Brodie Hicks, P.Eng in 1958. The foregoing historical resource estimates were completed prior to the implementation of NI 43-101 and should not be relied upon. The specified data used to generate the estimates is incomplete and/or not available and has not been confirmed by Northern Iron. A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves under NI 43-101, and Northern Iron is not treating the historical estimates as current mineral resources or mineral reserves. The historical estimates have not been audited or confirmed but are believed by Northern Iron to be of historical importance. The El Sol Technical Report by WGM concluded that additional drilling will be required to allow for a NI 43-101 mineral resource estimate encompassing the known historic deposit on the El Sol Property to be completed.

The Griffith Mine was operated by Stelco from 1968 to 1986. During this time, the mine produced 22.85 million t of iron ore pellets with average grading of 66.7% Fe from 78.8 million t of crude ore with average grading of 23.9% magnetic iron.

The Griffith Mine was shut down and decommissioned in 1986 due to the low price of iron ore prevailing in the market at the time.

During the latter half of 2010, Northern Iron conducted an exploration program, supervised by Raul Sanabria (P.Geo), on its Red Lake iron ore projects. Geological mapping and ground-based magnetometer surveys were conducted at the Karas Property, the Papaonga Property and the Whitemud Property over magnetic anomalies previously identified from airborne magnetics. A small diamond drilling program was also completed with a single hole drilled on each of the Karas Property, the Whitemud Property and Griffith property. BIFs containing predominantly mt were the targets of the exploration program.

In the latter half of 2010, Northern Iron was working with a capital pool company to obtain a listing on the Exchange by way of an amalgamation or other transaction. Northern Iron determined that the proposed qualifying transaction would not be completed and therefore determined to proceed with the Offering and a listing application directly to the Exchange.