Epenarra Project Combined annual report for the period 1 January 2010 to 31 December 2010 EL 26818, EL 26775, EL 26776, EL 27085, EL 27554 and EL 27072

Abstract

The Epenarra exploration licenses EL 26818, 26775, 26776, 27072, 27085 and 27554 lies approximately 60-120km to the south-east of the township of Tennant Creek. The package of tenements consists of a total of 1287 blocks and covers an area of 4019 square kilometers. The licenses were granted to Northern Minerals in 2008, 2009 and 2010 for a period of 6 years.Northern Minerals Limited is targeting Cambrian phosphorite deposits within the Georgina Basin. The Cambrian Gum Ridge Formation has been interpreted to underlie the parts of the license area and is considered to be a potential host for phosphate mineralization. Unfortunately due to difficult finance circumstances experienced worldwide it was not possible to complete the proposed mapping, sampling and drilling activities. It is anticipated that the proposed exploration activities will be undertaken in 2011.