NORTHLAND RESOURCES RELEASES YEAR-END RESULTS

March 31, 2010  Northland Resources S.A. released results today showing a net loss of $12.2 million ($0.11 per share) for the fiscal period ending January 31, 2010, compared to a net loss of $7.8 million ($0.07 cents per share) for the same period 2009.  During the fiscal period, the Company incurred and capitalized $24.5 million on its resource properties in Sweden and Finland; the total to date is $107.6 million.  As of January 31, 2010, the Company had cash on hand of $55.4 million.  All figures are in Canadian dollars.

Karl-Axel Waplan, President and CEO commented, "We managed to decrease our level of expenditures at the same time that we significantly increased our operational activities ahead of the release of a Feasibility Study on our Kaunisvaara Iron Concentrate Project, and our PEA on our Hannukainen IOCG Project.  Our net loss is greater this period than the previous period because of lower offsets from interest income and foreign exchange gains.  We are pleased with our progress this year, which began with the strategic rethinking of our core projects.  We now have one solid project at Kaunisvaara and two promising projects in development in Finland (Hannukainen iron concentrate and ITmk3). According to industry analysts, the market for iron ore should remain strong in the near to medium term."

Mr. Waplan commented further, "We continue to enjoy a strong cash position.  Our cash is more than ample to complete our studies on Kaunisvaara and Hannukainen, to pay for necessary long lead time items for our Kaunisvaara Project, and to cover the Company's running costs until mid-2011.  To bring the Kaunisvaara Project into production, the Company will have to secure additional funds, most likely as a combination of debt, equity, lease and off-take financing."

Operating highlights from the fiscal period include:

• The release of a positive Preliminary Economic Assessment on our Kaunisvaara Iron Concentrate Project with a forecasted NPV₈ of USD 393 million and an IRR of 21.1%,
• The release of the first resource estimate for our Pellivuoma magnetite project,
• Signing of a Memorandum of Understanding with Gulf Industrial Investment Company, for the off-take of a portion of our iron concentrates,
• Granting of an Exploitation Concession for the Tapuli magnetite project,
• The submission of an Environmental Permit Application for our Tapuli Mine and Kaunisvaara Mill and the submission of an Exploitation Concession application for our Sahavaara magnetite project,
• The initiation of a PEA on our Hannukainen IOCG Project,
• The initiation of discussions with Kobe Steel Ltd. and Midrex Technologies Inc. regarding the integration of Kobe's ITmk3 iron making technology into the development of our Hannukainen deposit and a scoping study on same,
• The development of the Company's logistics solutions, by signing a Letter of Intent with Havator Group Oy and Euroports Holding concerning the development of a bulk shipping terminal at the Port of Kemi, and by entering into an agreement with Oy Finnshipping Ltd. whereby Finnshipping will act as an in-house shipping department for the Company, and
• The appointment of Karl-Axel Waplan as President and CEO.

Operating highlights from after the end of the fiscal period include:

• Signing a Memorandum of Understanding with the Swedish Rail Administration regarding the co-financing of a railroad to extend from the Company's Kaunisvaara site in Sweden to the railhead at Kolari, Finland,
• Appointing and retaining leading global mining finance and investment banks - Société Générale, UniCredit Bank AG and WestLB AG as exclusive Mandated Lead Arrangers in the proposed project financing of the Kaunisvaara Iron Concentrate Project, and appointing KPMG Corporate Financing LLC as financial advisors, and
• The Company expects a final decision by the Border River Commission in June regarding the environmental permitting of the Tapuli Mine and the Kaunisvaara Mill.

ON BEHALF OF THE BOARD

     "Karl-Axel Waplan"

NORTHLAND RESOURCES S.A.

For more information, contact:

Karl-Axel Waplan, President and CEO:  +46 705 104 239

Anders Hvide, Executive Chairman:  +47 92 88 98 58

Patrick Foster, Director, Finance:  +44 77 10 12 36 03

Deborah Craig, VP, Northland Resources AB:  +46 70 638 43 00

Or visit our website: www.northland.eu

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)