,53 t t Medium sized deposit copper ,74 t 14813,74 t t Medium. gold 3 17,23 t 0,21 t 17,02 t Medium

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1 Mineral Deposit Report Page 1 OF Hannukainen Alternative Names: Laurinoja Occurence type: deposit Commodity Rank Total Total production Total resource Importance measure iron ,53 t ,53 t t Medium sized deposit copper ,74 t 14813,74 t t Medium sized deposit 3 17,23 t 0,21 t 17,02 t Medium sized deposit Easting EUREF: ,168 Easting YKJ: Northing EUREF: ,436 Northing YKJ: Discovery year: 1974 Province: Pajala-Kolari (Fe, Cu, Au) District: Kolari (Fe, Cu, Au) References: 2, 3, 4, 7, 13, 17, 19 Mineral deposit type Group: Metallogenic deposit Main type: IOCG (mixed hydrothermal) Comments: Mineralisation took place from hypersaline fluids, under conditions of C, kbar. References: 9 Dimension Expression: exposed Area (ha): Form: concordant Dip azim: 270 Shape: lensoidal Dip: 18 Length (m): 2700 Plunge azim: 225 Width (m): 1300 Plunge dip: 15 Thickness (m): Orientation method: Depth (m): Holder history Current holder: Hannukainen Mining Oy Years: 2015 Holding type: Claim (old law) Previous holders: Company Years Holding type Comments Vuoksenniska Oy Northland Mines Oy Claim (old law) 1

2 Mineral Deposit Report Page 2 OF Northland Resources Ab 2005 Outokumpu Oy 1985 Rautaruukki Oy 1979 Mining concession (old law) Rautaruukki Oy Otanmäki Oy Suomen Malmi Oy

3 Mineral Deposit Report Page 3 OF EXPLORATION ACTIVITY Northland Resources Inc Years Activity type Geologist Exploration result Ref core drilling 11, 12, 13, 14, 15 Core drilling (reconnaissance drilling): 72 diamond-drill holes. Intersections HoleID From-To Length 6,2m 0,27ppm copper 4,75% iron 53,41% HoleID From-To Length 9,6m 0,99ppm copper 1,11% iron 46,9% HoleID From-To Length 33,1m 0,33ppm copper 0,77% iron 37,7% HoleID From-To Length 29,1m 0,75ppm copper 0,81% iron 39,7% HoleID From-To Length 11,2m 1,09ppm copper 0,75% iron 51,39% subsurface exploration ore beneficiation tests 11, 12, 13, 14, 15 11, 12, 13, 14, core drilling 11, 12, 13, 14, 15 Core drilling (reconnaissance drilling): 42 diamond-drill holes subsurface exploration 11, 12, 13, 14, core drilling 11 Intersections 3

4 Mineral Deposit Report Page 4 OF HoleID HAN-089 From-To Length 21,5m 0,56ppm copper 0,87% iron 35,5% HoleID LAU-177 From-To Length 31,9m 0,23ppm copper 0,47% iron 34,6% HoleID LAU-251 From-To Length 32,4m 0,38ppm copper 0,91% iron 37,8% Rautaruukki Oy Years Activity type Geologist Exploration result Ref core drilling A. Hiltunen 4, 5 Rautuvaara and Hannukainen combined: >400 diamond-drill holes between subsurface exploration A. Hiltunen 4, detailed geophysics A. Hiltunen 4, detailed geology A. Hiltunen 4, excavation A. Hiltunen 4, detailed geochemistry A. Hiltunen 4, regional geophysics A. Hiltunen 4, 5 Low-altitude airborne magnetic survey indicated four magnetite ore bodies. Otanmäki Oy Years Activity type Geologist Exploration result Ref detailed geology detailed geophysics subsurface exploration 4 Suomen Malmi Oy 4

5 Mineral Deposit Report Page 5 OF Years Activity type Geologist Exploration result Ref regional geophysics subsurface exploration detailed geology 4 Vuoksenniska Oy Years Activity type Geologist Exploration result Ref detailed geophysics detailed geology 4 5

6 Mineral Deposit Report Page 6 OF RESOURCES AND RESERVES Most recent Type: Company: Year: Date: Calc Method: Reference: Resource Northland Resources Ab 2012 CIM standards 18 Comments: Effective date 24 October Category: Measured mineral resource Tonnage: 154 Mt iron 32,24 % copper 0,18 % 0,09 ppm Cutoff: Category: Indicated mineral resource Tonnage: 6 Mt iron 30,37 % copper 0,17 % 0,07 ppm Cutoff: Category: Inferred mineral resource Tonnage: 61 Mt iron 32,25 % copper 0,15 % 0,044 ppm Cutoff: Category: Measured, indicated and inferred mineral resource Tonnage: 221 Mt iron 32,192 % copper 0,171 % 0,077 ppm Cutoff: Comments: All ore bodies jointly Previous calculations Type: Company: Year: Date: Calc Method: Reference: Reserve Northland Resources Ab 2012 CIM standards 18 Comments: Effective date 24 October Category: Proved ore reserves Tonnage: 91,8 Mt iron 32,2 % copper 0,186 % 0,088 ppm Cutoff: Category: Probable ore reserves Tonnage: 0,8 Mt iron 32,6 % copper 0,148 % 0,06 ppm 6

7 Mineral Deposit Report Page 7 OF Cutoff: Category: Proved and probable ore reserves Tonnage: 92,6 Mt iron 32,203 % copper 0,186 % 0,088 ppm Cutoff: Type: Company: Year: Date: Calc Method: Reference: Resource Northland 2010 NI Exploration Finland Oy Category: Tonnage: 198 Mt iron 32,92 % copper 0,15 % 0,053 ppm Cutoff: iron 15 % Comments: cut off at 15 % Fe in open pit and 20 % Fe in underground resource Type: Company: Year: Date: Calc Method: Reference: Resource Northland Exploration Finland Oy Comments: The lodes Kuervaara, Vuopio, Laurinoja, Lauku, Kivivuopio Category: Tonnage: 166,2 Mt iron 35,1 % copper 0,17 % 0,065 ppm Cutoff: iron 15 % 7

8 Mineral Deposit Report Page 8 OF MINING Hannukainen Alternative Names: Laurinoja, Kuervaara Easting EUREF: ,168 Northing EUREF: ,436 Status: Feasibility Previous status: Closed Operating years: Years in production: 13 Total ore mined: t References: 1 Total production: Product copper iron Product measure 14813,74 t ,53 t 212,97 kg Other materials: Material type wastes from mineral excavation Material measure t Mining activity: Year Ore mined Ore Activity type Production Other material processed t t open-pit mining t t open-pit mining t t open-pit mining t t open-pit mining t t open-pit mining t t open-pit mining t t open-pit mining t t open-pit mining t t open-pit mining t t open-pit mining 8 207,17 kg copper 1926,69 t 5,8 kg copper 59,85 t iron t copper 2418,84 t iron t copper 2619,36 t iron t copper 2101,68 t iron t copper 1202,4 t iron ,86 t copper 1389,97 t iron ,96 t copper 1568,06 t iron ,48 t copper 1526,89 t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation t

9 Mineral Deposit Report Page 9 OF t t open-pit mining t t open-pit mining t t open-pit mining iron ,05 t iron 90221,31 t iron 71985,87 t iron t wastes from mineral excavation t wastes from mineral excavation t wastes from mineral excavation 0 t wastes from mineral excavation 0 t Figures 9

10 Mineral Deposit Report Page 10 OF

11 Mineral Deposit Report Page 11 OF GEOLOGY Host rock: Magnetite Skarn, Hornblende-Diopside Skarn Wall rock: Quartzite, Amphibolite, Monzonite, Diorite Magnetite Skarn (Host rock) Rock type: Host rock Proportion: major Grain size: Color: References: 4, 5, 8, 9, 10, 15 Comments: Several ore bodies, oriented along the regional dominant lineation, at least: Kuervaara, Vuopio, Laurinoja, Lauku, Kivivuopio m long, m wide and 5-40 m thick.the Au-Cu ore body detected in 2005: horizontal extent >600 m x >850 m, avg thickness 17.5 m, open to the NE and SW. Another, 15 m thick, Au-Cu ore body detected in the hangingwall in Metamorphic description: Ore minerals: Mineral Proportion Mineral texture Chalcopyrite major Stringer, Dissemination Gold minor Associated with chalcopyrite, magnetite and silicate gangue: inclusions in pyrite with chalcopyrite, in cracks is magnetite and pyrite, inclusiuons in chalcopyrite. Magnetite major Banded, Massive Molybdenite minor Pyrite major Dissemination, Stringer Pyrrhotite major Stringer, Dissemination Telluride minor Other minerals: Mineral Proportion Mineral texture Albite minor Andradite minor Biotite minor Calcite minor Diopside major Epidote minor Hornblende major Microcline minor Quartz minor Scapolite minor Titanite minor Type: Facies: Degree: Relation to mineralization: Regional amphibolite medium metamorphic facies metamorphic grade Geological age: Min P- Max P (kbar) MIn T- Max T ( C) 11

12 Mineral Deposit Report Page 12 OF Geological era: Max age - Minage Inferred age (Ma): Age of mineralization: (Ma): Paleoproterozoic ( Ma) Y Comments: Mineralisation took place around 1800 or between 1.86 and 1.76 Ga. Radiometric age: Method: Age: Error (Ma): Mineral: Reference: U-Pb Zircon 4, 8, 9 U-Pb 1810 Titanite 4, 8, 9 Hornblende-Diopside Skarn (Host rock) Rock type: Host rock Proportion: minor Grain size: Color: References: 4, 8, 10, 15 Other minerals: Mineral Proportion Mineral texture Diopside present Hornblende present Alteration: Distribution: Degree: Relation to mineralization: calcsilicate alteration Comments: diopside-hornblende-magnetite Metamorphic description: Type: Facies: Degree: Relation to mineralization: Regional amphibolite medium metamorphic facies metamorphic grade Geological age: Min P- Max P (kbar) MIn T- Max T ( C) Geological era: Paleoproterozoic ( Ma) Max age - Minage Inferred age (Ma): Age of mineralization: (Ma): N Quartzite (Wall rock) Rock type: Wall rock Proportion: minor Grain size: Color: References: 4, 6, 8, 9, 15 Metamorphic description: Type: Facies: Degree: Relation to mineralization: Regional amphibolite medium metamorphic facies metamorphic grade Min P- Max P (kbar) MIn T- Max T ( C) 12

13 Mineral Deposit Report Page 13 OF Comments: Quartz-feldspar ± sillimanite. Amphibolite (Wall rock) Rock type: Wall rock Proportion: minor Grain size: Color: References: 4, 6, 8, 9, 10 Alteration: Distribution: Degree: Relation to mineralization: biotite alteration Comments: In foot wall Metamorphic description: Type: Facies: Degree: Relation to mineralization: Regional amphibolite medium metamorphic facies metamorphic grade Comments: Hornblende-plagioclase ± biotite, titanite, magnetite, epidote. Geological age: Min P- Max P (kbar) MIn T- Max T ( C) Geological era: Paleoproterozoic ( Ma) Max age - Minage Inferred age (Ma): Age of mineralization: (Ma): N Monzonite (Wall rock) Rock type: Wall rock Proportion: major Grain size: Color: References: 4, 6, 8, 9 Metamorphic description: Type: Facies: Degree: Relation to mineralization: Regional amphibolite medium metamorphic facies metamorphic grade Geological age: Min P- Max P (kbar) MIn T- Max T ( C) Geological era: Paleoproterozoic ( Ma) Max age - Minage Inferred age (Ma): Age of mineralization: (Ma): N Diorite (Wall rock) Rock type: Wall rock 13

14 Mineral Deposit Report Page 14 OF Proportion: minor Grain size: Color: References: 4, 10 Alteration: Distribution: Degree: Relation to mineralization: albitic alteration Comments: In hanging wall Metamorphic description: Type: Facies: Degree: Relation to mineralization: Regional amphibolite medium metamorphic facies metamorphic grade Geological age: Min P- Max P (kbar) MIn T- Max T ( C) Geological era: Paleoproterozoic ( Ma) Max age - Minage Inferred age (Ma): Age of mineralization: (Ma): N Figures Outcrop photo: 14

15 Mineral Deposit Report Page 15 OF Primary anomaly: 15

16 Mineral Deposit Report Page 16 OF Regional geology: Regional geology: 16

17 Mineral Deposit Report Page 17 OF Structure: Structure: 17

18 Mineral Deposit Report Page 18 OF Structure: 18

19 Mineral Deposit Report Page 19 OF Regional geology: 19

20 Mineral Deposit Report Page 20 OF Local geology: Outcrop photo: 20

21 Mineral Deposit Report Page 21 OF

22 Mineral Deposit Report Page 22 OF Ore outcrop: Ore outcrop: 22

23 Mineral Deposit Report Page 23 OF Regional geology: 23

24 Mineral Deposit Report Page 24 OF

25 Mineral Deposit Report Page 25 OF REFERENCES 1. Eilu, P. (ed.) Iron oxide-copper- excursion and workshop, Northern Finland and Sweden , Report M 10.3/2004/1/ p Eilu, P., Pankka, H., Keinänen, V., Kortelainen, V., Niiranen, T. & Pulkkinen, E Characteristics of mineralization in the greenstone belts of northern Finland., Special Paper 44, Ore Deposit Data Base. 4. Hiltunen, A The Precambrian geology and skarn iron ores of the Rautuvaara area, northern Finland., Bulletin p Hugg, R. & Heiskanen, V Suomen rautamalmiesiintymät, malmiutumat ja malmiviitteet. Rautaruukki Oy OU 2/79, RAETSU Report p. (in Finnish) 6. Lehtonen, M., Airo, M.-L., Eilu, P., Hanski, E., Kortelainen, V., Lanne, E., Manninen, T., Rastas, P., Räsänen, J. & Virransalo, P Kittilän vihreäkivialueen geologia: Lapin vulkaniittiprojektin raportti. Summary: The stratigraphy, petrology and geochemistry of the Kittilä greenstone area, northern Finland: a report of the Lapland Volcanite Project., Report of Investigation p. 7. Moilanen, M. & Peltonen, P The Hannukainen Fe-(Cu-Au) deposit, western Finnish Lapland: an updated deposit model. In: Maier, W.D., Lahtinen, R. & O'Brien, H. (eds) Mineral deposits of Finland. Amsterdam: Elsevier, Niiranen, T. & Eilu, P Day 3, Stop 2 Hannukainen, Kolari., Guide Niiranen, T., Poutiainen, M. & Mänttäri, I Geology, geochemistry, fluid inclusion characteristics, and U-Pb age studies on iron oxide-cu-au deposits in the Kolari region, northern Finland. Ore Geology Reviews 30, Niiranen, T Locality 2. Hannukainen. In: Eilu, P. (ed.) Iron oxide-copper- excursion and workshop, Northern Finland and Sweden , Report M 10.3/2004/1/ Northland Resources Inc Press release 7 November Northland Resources Inc Press release 17 July Northland Resources Inc Press release 23 August Northland Resources Inc Press release 27 April Northland Resources Inc Press release 27 February

26 Mineral Deposit Report Page 26 OF Northland Resources Press release 12 May Puustinen, K Suomen kaivosteollisuus ja mineraalisten raaka-aineiden tuotanto vuosina , historiallinen katsaus erityisesti tuotantolukujen valossa., Report M 10.1/2003/ p. (in Finnish) 18. SRK Consulting Ltd Technical report on the Hannukainen iron-copper- project, Kolari district, Finland, January Prepared for Northland Mines Oy. 19. Väisänen, M Structural features in the Central Lapland greenstone belt, northern Finland., Report K 21.42/2002/3. 20 p. 26