The past quarter has been an active period for Northern Uranium at both an operational and corporate level. The Company finished the calendar year with a number of significant changes including the acquisition of all Ferrum Crescent mineral rights in Australia and changes to its strategic alliance with Areva. These two events have consolidated the company’s position in the Gardiner-Tanami Project with all mineral rights and operatorship. The changes will improve the upside potential for shareholders and increasingly give the Company more control over the exploration and future development of its project portfolio.

During the quarter the company has made significant progress with its Rare Earth Element portfolio. It has received excellent metallurgical results from the Browns Range Project and following evaluation of data from the 2010 field programs, has developed drill targets for testing in 2011. The Company has also expanded its portfolio further with the acquisition of Ferrum Crescent’s mineral rights in the NT, as well as boosting its technical team with the appointment of REE expert Dudley Kingsnorth.

Highlights

Rare earths
Excellent results from metallurgical test work on Browns Range - 89.5% recovery in single flotation test

Soil sampling confirms significant drill ready targets at Browns Range- minimum 5000m drill program planned in Phase One

Significant expansion to NT landholding, with further rare earths potential

Expansion of REE team with appointment of REE expert Dudley Kingsnorth

John Galt REE Project tenement granted

URANIUM
Completed 3,000m drill program at Gardner Range JV project, with encouraging results from the Soma prospect

Northern Uranium to become operator of Gardiner-Tanami Project in 2011/12, increasing control of exploration activities

GOLD
Encouraging gold hits from drilling at the Gardiner-Tanami Project, which lies within renowned Tanami gold province.