Northland Completes a Successful Subscription of a USD 20 million Bond Loan

Luxembourg, December 11, 2012 – Northland Resources S.A. (TSX: NAU, OSL: NAUR, Frankfurt: NPK, STO: NAURo – “Northland” or the “Company”) is pleased to announce that its wholly owned subsidiary Northland Resources AB has signed a term sheet for a USD 20 million bond loan. The bond has a 12.25% interest coupon and matures February 26, 2016.

The present senior secured bond issued by Northland Resources AB (the “Issuer”), with ISIN NO0010636194 and ISIN NO0010636137, is governed by a bond agreement dated March 5, 2012. This agreement allows for the additional USD 20 million debt. The new bond loan will be senior debt of the Issuer, secured on a pari passu basis with the existing outstanding bonds, but will have no voting rights and enforcement rights.

The proceeds from the new bond will finance Capex investments for Kaunisvaara as well as working capital.

SpareBank 1 Markets AS acted as Sole Manager of the bond loan.

“Karl-Axel Waplan”                                                             
President & CEO, Northland Resources S.A.

For more information, please contact:

Karl-Axel Waplan, President and CEO: +46 705 104 239
Peder Zetterberg, Acting CFO, +46 708 652 120
Anders Antonsson, Vice President – Investor Relations: +46 709 994 970

Or visit our website: www.northland.eu

Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara Project is complete and production started in November 2012. The Company will produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company will exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara Project over the next seven to ten years. The Company is also preparing a Definitive Feasibility Study (“DFS”) for its Hannukainen Iron Oxide Copper Gold (“IOCG”) project in Kolari, northern Finland and for the Pellivuoma deposit, which is located 15 km from the Kaunisvaara processing plant.