Successful Second Cost-to-Complete Test Confirmed
Luxembourg, September 17, 2012 – Northland Resources S.A. (TSX: NAU, OSL: NAUR, Frankfurt: NPK – “Northland” or the “Company”) announces that the independent engineer Royal HaskoningDHV (“Royal Haskoning“) as well as the trustee have confirmed Northland’s fulfilment of its second Cost-to-Complete test. Northland is now entitled to execute the second draw down of about USD 90 million from its USD 350 million bond loan facility. In February 2012 Northland issued a corporate bond of 350 USD million. The funds are available on an escrow account with Norsk Tillitsmann ASA (“Norsk Tillitsmann”)