MANDATORY NOTICE OF TRADE
April 13, 2011 The following insiders of Northland Resources S.A. (the "Company") have been granted incentive stock options in the Company, exercisable for five years, at an exercise price of CAD 3.84. The exercise price was based on the average 10 day closing price of the Company's shares on the Toronto Stock Exchange, plus a 25% premium.
|Name||Options Granted||Total Options Held||Shares Held, Directly and Indirectly|
|Anders Antonsson, VP - Investor Relations||150,000||150,000||0|
|Jukka Jokela, VP - Finnish Operations||150,000||325,000||0|