• Preliminary laboratory metallurgical test work successfully carried out to assess TREO recoveries of Dazzler deposit material when blended with Wolverine Ore
• Potential to expand feed supply for Browns Range Heavy Rare Earths Project and further optimise outcomes from 2025 Definitive Feasibility Study
• Initial TREO recovery levels from this blending test work averaged ~79%, comparable to the DFS program (averaged ~84%), with further testing planned

Northern Minerals is pleased to announce positive results from the Wolverine-Dazzler Blending Study, which is assessing the potential for Dazzler deposit material to enhance initial planned production for the Company's 100%-owned Browns Range Heavy Rare Earths Project. Relative to Wolverine, Dazzler is a small but high-grade heavy rare earths deposit located ~15 km south from Wolverine, the primary deposit used in mine designs in the 2025 Definitive Feasibility Study (DFS). The Wolverine-Dazzler Blending Study is part of work by Northern Minerals to further optimise the outcomes of the DFS. The potential inclusion of material from Dazzler in the proposed first-stage mine operation at Browns Range would complement Ore from Wolverine and could potentially increase TREO concentrate output during early periods of available processing plant capacity as the Project transitions from open pit to underground mining. Preliminary laboratory metallurgical test work results received to date confirm favourable metallurgical results using blended Wolverine - Dazzler material, with initial TREO recovery levels from this blending test work averaging ~79%, comparable to the DFS program (averaged ~84%), and further testing planned to optimise these recoveries. The DFS processing circuit methodology was used to produce a TREO concentrate from the blended material, meeting the specifications targeted under the DFS.

Northern Minerals will continue work on the Wolverine-Dazzler Blending Study as part of the Company's ongoing evaluation of DFS optimisation work and regional resource optionality. There is no certainty that this program will lead to a beneficial economic outcome and no decisions on the Wolverine-Dazzler blending strategy have been made.