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1 ASX ANNOUNCEMENT 27 AUGUST 2012 Australian Securities Exchange Code: NST Board of Directors Mr Chris Rowe Non-Executive Chairman Mr Bill Beament Managing Director Mr Michael Fotios Non-Executive Director Mr Peter Farris Non-Executive Director Mr Peter O Connor Non-Executive Director Ms Karen Brown Company Secretary Issued Capital Shares M Options 11M Current Share Price $1.175 Market Capitalisation $490 million Cash/Bullion in Bank: 30 Jun 2012 $75 million Projects Paulsens Ashburton Range Emull Commodities gold gold gold, silver Zn, Cu, gold Investments Commodities Venturex (15%) Cu, Zn, Ag & gold Northern Star prepares for next 100,000ozpa operation with highgrade hits at Ashburton Project Results will help drive increase in current 1Moz resource Highlights Outstanding drill results from two key deposits Peake and Waugh - at Ashburton Project, where Northern Star plans to build its second 100,000ozpa operation Peake and Waugh both within 2km of the Mt Olympus deposit, which hosts most of the current 1Moz 1 Ashburton Resource At Peake, latest results extend strike of high-grade mineralisation by 300m; remains open down plunge and along strike with further assays pending. Significant Peake extension intercepts include: 4.9g/t Au including 12.2g/t Au 3.3g/t Au including 7.0g/t Au 5.0g/t Au including 8.7g/t Au Drilling continues along a 1.4km zone of anomalous rock chips grading up to 20g/t Au at the Peake extension and Peake West prospects At Waugh, first-pass drilling extends high-grade gold mineralisation 130m down plunge from the mined pit; still open at depth Significant intercepts at Waugh include: 6.1g/t Au including 12.1g/t Au 2.6g/t Au including 6.7g/t Au Drilling will resume at the Waugh prospect in September Northern Star Resources is pleased to announce that its plans to establish a second 100,000ozpa operation have been given a significant boost by a string of high-grade drilling results at its Ashburton Project. Ashburton neighbours the Company's Paulsens Gold Project in the Pilbara region of WA and already boasts a JORC resource of one million ounces. Most of this is contained in the Mt Olympus deposit. Northern Star's plan to grow this resource has been boosted by the latest high-grade gold results from drilling at the Peake and Waugh Prospects, which are both within 2km of Mt Olympus deposit (Appendix 1). These results have added significant extensions to existing mineralisation and pave the way for further resource upgrades.

2 The Peake and Peake West prospects cover a line of anomalous rock chips of up to 20g/t Au that extends for 1.4km west of the Peake pit (see Figure 2). Past production from the high grade Peake pit totalled 18,700oz Au at 6.5gpt. Northern Star recently defined a maiden resource of 123,000oz 1 Au at 4.3gpt below the pit. These outstanding drill results at the Peake Prospect have extended the strike of high-grade sulphide gold mineralisation by 300m from the current Resource and still remains open down plunge and along strike (see Figure1). Sulphides have been intersected in further holes with assays pending. Figure 1 - Peake drill results longsection, 300m extension Drilling continues at Peake Extension along the 700m mineralised zone and Northern Star is waiting on approvals for an RC/Diamond drill program to test the 700m Peake West zone (see Figure 2). Figure 2 - Peake Extension and Peake West Prospects, plan view

3 The Waugh Prospect is located 2.5km east-northeast of Mt. Olympus, near a contact between basalt and sediments. The Waugh open pit was previously operated by Sipa Resources, which mined a high grade oxide pit, producing 67,000oz Au at 6gpt. A total resource of 68,000oz 1 Au at 3.6gpt remains. Drilling by previous explorers had shown mineralisation continued 100m down plunge from the mined Waugh pit, however it was interpreted to be narrow. Geological/structural interpretation by Northern Star suggested potential existed for mineralisation to widen down plunge and form another thicker, Waugh-type orebody. First pass RC drilling by Northern Star indicates the mineralised zone does widen with depth, returning outstanding oxide intercepts up to 17m at 6.1gpt Au, including 6m at 12.1gpt. This has extended mineralisation 130m down plunge from the open pit floor and still remains open (see Figures 3 & 4). Figure 3 - Plan View of Waugh Prospect and drill intercepts Figure 4 - Cross Section of Waugh drill intercepts

4 A second round of drilling will commence in September to determine the extent of the mineralised zone and whether it continues to widen further. "These results highlight the significant upside at Ashburton and its strong potential to host a second 100,000ozpa operation for Northern Star," Managing Director Bill Beament said. Assays received are attached in the appended table. Further announcements will be released regarding the ongoing reverse circulation and diamond drilling as more results become available. Yours faithfully, Bill Beament Managing Director Northern Star Resources Ltd Measured Indicated Inferred Total 31 December 2011 Mt Olympus 1, , , , Peake Waugh Zeus , Electric Dingo Romulus Total 1, , , , ,007 1 Table 1 - Ashburton Mineral Resources Inclusive of Reserves - 0.7g/t lower cut used for Mt Olympus and 0.9g/t lower cut for others. Oxide and Transitional Measured Indicated Inferred Total , , , Sulphide 1, , , , Total 1, , , , ,007 2 Table 2 - Ashburton Mineral Resource split by material type (free milling and sulphide) Proved Probable Total 31 December 2011 Mt Olympus Peake Waugh Zeus Electric dingo Romulus Total Table 3 - Ashburton A$1600 gold price based on oxide and transitional material only (free milling)

5 Prospect Drill Hole # Ashburton Exploration Downhole From (m) Downhole To (m) Downhole Intersection (m) Au Oxide / Transitional / Sulphide Peake APKRC Fresh Peake APKRC0033 including Fresh Peake APKRC Fresh Peake APKRC Oxide Peake APKRC Fresh Peake APKRC0036 including Fresh Peake APKRC Fresh Peake APKRC Fresh Peake APKRC0038 including Fresh Peake APKRC Fresh Waugh AWARC Transitional Waugh AWARC0001 including Transitional Waugh AWARC Oxide Waugh AWARC0002 including Oxide Assays reported using a 0.5g/t lower cut off, no upper cut off, 2m internal dilution, rounded to one decimal place. NSI means no significant result. Quality Control Exploration. Rig-mounted static cone splitter, 1m composite sample (except for AWARC001: m is a 4m composite. 1m splits have not yet been taken). All samples were sent to SGS Australia Pty Ltd Perth for analysis. Samples were crushed and split with a proportion pulverised. A 50-gram portion of the pulp was treated by Fire Assay method with an Atomic Absorption Spectrometry finish. Northern Star Resources inserts on average one standard, blank and duplicate every 25 samples. Laboratory standards and blanks are inserted by SGS and several pulp duplicates are also assayed as a determinant of mineralisation variability and to their ISO 9001 standard and a NATA Technical certificate. Competent Persons Statements The information in this report that relates to Exploration Results is based on information compiled and reviewed by Jason Boladeras, who is a Member of the Australian Institute of Geoscientists (AIG) and Exploration Manager and casual employee of Northern Star Resources Limited. Mr Boladeras has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken, to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Boladeras consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. The information in this announcement that relates to the mineral resource estimation, exploration results, data quality, geological interpretations and potential for eventual economic extraction, is based on information compiled by or under the supervision of Brook Ekers, (Member AIG), who is a fulltime employee of Northern Star Resources Ltd. Mr Ekers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Ekers consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Information in this announcement that relates to the Ore Reserves has been compiled by Shane McLeay, Principal Engineer Entech Pty Ltd, who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Shane McLeay is a Member of the Australasian Institute of Mining and Metallurgy and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Forward Looking Statements Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Northern Star Resources Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

6 Appendix 1 - Ashburton Project location map