Kalgoorlie OperationsSite Visit – August 2017

Disclaimer

Competent Persons Statements

The information in this announcement that relates to mineral resource estimations, exploration results, data quality and geological interpretations for the Company’s Kanowna, EKJV, Kundana and Carbine Project areas is based on information compiled by Nicholas Jolly, a

Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Northern Star Resources Limited. Mr Jolly has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to

the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Jolly consents to the inclusion in this announcement of the matters based on

this information in the form and context in which it appears.

The information in this announcement that relates to mineral resource estimations, exploration results, data quality and geological interpretations for the Company’s Project areas is based on information compiled by Darren Cooke, a Competent Person who is a Member of the

Australian Institute of Geoscientists and a full-time employee of Northern Star Resources Limited. Mr Cooke has sufficient experience that is relevant to the styles of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a

Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" for the Company’s Project areas. Mr Cooke consents to the inclusion in this announcement of the matters based on this

information in the form and context in which it appears.

The information in this announcement that relates to ore reserve estimations for the Company’s Project areas is based on information compiled by Jeff Brown, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy and a full-time employee of

Northern Star Resources Limited. Mr Brown has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian

Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" for the Company’s Project areas. Mr Brown consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Forward Looking Statements

Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in

this announcement. To the maximum extent permitted by law, none of Northern Star Resources Limited, its directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of

any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it.

This announcement is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this announcement nor anything in it shall form the basis of any contract or commitment whatsoever. This

announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of

variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, Reserve estimations, loss of market, industry

competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

All currency conversions in this presentation have been converted at a currency of AUD/USD conversion rate of A$0.76

(1) EBITDA is earnings before interest depreciation, amortisation and impairment and is calculated as follows: Profit before Income tax plus depreciation, amortisation, impairment and finance costs less interest income.

(2) Free Cash Flow is calculated as operating cash flow minus investing cash flow.

(3) Underlying Free Cash Flow is calculated as follows: 31 Dec 2016 - free cash flow ($12.8 million) plus bullion awaiting settlement ($10.6 million), plus stamp duty paid on prior acquisitions ($1.7 million), plus investments in Available for sale assets ($0.8 million), plus FY2016

tax ($33.6 million), less working capital adjustment ($3.4 million). 31 Dec 2015 - free cash flow ($66.4 million) plus bullion awaiting settlement ($9 million), plus acquisition and exploration of Central Tanami Project ($17.3 million), plus stamp duty paid on prior period acquisitions

($5.0 million), less working capital adjustment ($1.0 million).

EBITDA, Underlying Free Cash Flow and All-in Sustaining Costs (AISC) are unaudited non IFRS measures.

* All Data from Bloomberg referenced sources has had all N.A. and erroneous data points removed in the associated sector comparisons and all GDX data point comparisons have had streaming company data removed for a better reflection of the producing companies within the

indices

2

6.7Moz of gold production over the past 24

years, average of 280kozpa with a peak

year of 370koz

Resource/Reserve upgrades now provide

10 years of mine life visibility across the

Kalgoorlie operation: Reserve up 117% to

2.0Moz and Resource up 25% to 4.5Moz

Our Objective is to grow Kalgoorlie

operations to 300-325koz pa within 24

months

Significant opportunities to achieve this

increased production via developing 100%

owned Kundana deposits, extending

Kanowna at depth and mining satellite pits

Kalgoorlie Operations: Rapid, low-cost growth

3

Kalgoorlie Operations: The Journey

Geology overview of each of

the areas.

What we have achieved with

the Resource and Reserve

additions.

An overview of the mining

and how we turn the

reserves into gold bars.

25km50km

KALGOORLIE

CARBINE / PARADIGM

KUNDANA

KANOWNA

4

Kundana Operations – EKJV & 100% NST Ground August 2017

Kundana

25km50km

KALGOORLIE

CARBINE / PARADIGM

KUNDANA

KANOWNA

New Tenements

Acra Joint Venture

Existing NST Interest

Acra

6

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000

1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Cu

mu

lati

ve G

old

Pro

du

ctio

n (

Ou

nce

s)

Ore

Res

erv

e /

Min

eral

Res

ou

rce

s (O

un

ces)

Kundana CampAnnual Reserve & Resource Versus Cumulative Production

Ore Reserves Mineral Resources Cumulative Production

Case Study - The Rebirth of Kundana

Raleigh, Rubicon &

Hornet Discoveries

South Pit,

North Pit

Strzelecki, Barkers,

Centenary Pits & UG

Plunging Shoot

Theory

Pegasus, Millennium,

2.1km Link Drive:

INVESTMENT IN

EXPLORATION

7

Kundana: Applying the Pegasus Exploration LearningsMILLENNIUM

Strong South plunge of mineralisation observed at the

Centenary Underground Mine (Similar orientation to

Pegasus & Frogs Leg)

Development may have stopped at south dipping low grade

flexures as seen at Pegasus

Unlike Pegasus, the north plunge is absent at Centenary (or

is it?)

The Drake target is to test the theory as we begin to explore

the next potential mining front adjacent to Pegasus

SOUTH PIT / CENTENARY UNDERGROUND MINE (d.1999)

MILLENNIUM

TARGET

North

8

DRAKE

Kundana: Pegasus Applied at Millennium-Centenary-Pope John

9

Kundana 100% - NST Newest Addition August 2017

Past production on the 100% NST ground has yielded 1.25Moz at 6gpt, between 1990-2004

FY17 Reserves increased to 0.8Moz, Resource of 1.8Moz; now larger than EKJV Reserves and Resources

Current development at Millennium is ahead of schedule, first production ore due in the Dec quarter, 2017

Exploration success will drive multiple development decisions in FY2018 to drive organic growth – all lodes

remain open at depth

Page 11

Kalgoorlie Operations – Kundana (100% NST)

11

12

ARCTICRSC 233koz (+179koz)

MILLENNIUM-CENTENARYRSC 411koz (-8koz)RSV 250koz (+6koz)

POPE JOHNRSC 240koz (-41koz)

RSV 210koz (+210koz)

MOONBEAMRSC 233koz (+159koz)

RSV (incl w. Strz)

STRZELECKIRSC 293koz (+293koz)RSV 196koz (+196koz)

BARKERSRSC 268koz (+131koz)

RSV 55koz (+55koz)

Kundana (NST 100%) Mining Centre re-established

Resources 1.3Moz (+478koz) Reserves 738koz (+533koz)

Over 38,000m of drilling completed

Host structures strike length 4km (K2) and 2km (Strzelecki)

Visibility on LOM extensions at all deposits

Kundana (NST 100%) Growth Delivery

N S

13

Strzelecki is Raleigh-style mineralisation on 100% NST tenure.

Narrow 0.2 – 1.0m laminated veins with significant VG component.

0.2m @ 65.7g/t

(ZMV)

0.63m @ 296.0g/t

(ZMV)

2.0m @ 7.74g/t

(ZMV)0.31m @ 296.0g/t

(HW VN)

0.2m @ 65.2g/t

(HW VN)

0.36m @ 48.7g/t

(HW VN)

Strzelecki – Another near-mine success

N

StrzeleckiDeposit

1.4Mt @ 10g/t for

443koz (mined)

Moonbeam Pit

ChristmasShoots

HW Veins

SectionLine

5630mRLRaleigh Lower Levels

100% NST Ground –Paradigm/Carbine Geology Overview August 2017

Carbine / Paradigm

25km50km

KALGOORLIE

CARBINE / PARADIGM

KUNDANA

KANOWNA

New Tenements

Acra Joint Venture

Existing NST Interest

Acra

15

Paradigm emerging as another deposit in the plan to

grow production

>14,000m of Reserve definition drilling targeting Natasha

and Arina mineralised trends completed during Q3

Paradigm Maiden JORC Resource:

873kt @ 6.7g/t for 187koz

Paradigm Maiden JORC Probable Reserve:

183kt @ 7.6g/t for 45koz

Mineralisation open in all directions – potential to grow

Follow up extensional and stratigraphic drilling underway

within the Project area

Exploration programs underway at nearby Drago (500m

south of Paradigm), Zorro and Eremenco.

Pit dewatering near completion, development options are

under review16

Current drilling

confirms mineralisation

extensions

Arina

Lode

Arina

FW ZoneArina

HW Zone

Natasha

Lode

Mishka

Lode

Paradigm Prospect

17

CBRC16129

18m @ 1.2g/t (57m) incl.

3m @ 4.46g/t (57m)

CBRC16134

6m @ 4.2g/t (133m)

CBAC16068

4m @ 3.44g/t (32m)

CBRB16213

16m @ 0.98g/t (32m)

Phantom OPProduction 1996-99

22.5 koz @ 5.7g/t

Paradigm OPProduction 2001-03

48.3 koz @ 5.7g/t

Paradigm UGProduction 2005-07

24.8 koz @ 9.0g/t

Carbine OPResource

317 koz @ 1.4g/t

Carbine/Paradigm Project Area

EKJV Overview August 2017

NST Attributable Reserves increased 36% to 0.6Moz at 5.8gpt, Resource increased 35% to 1.3Moz

The high grade core still exists, with lower grade additional material discovered through exploration (hanging wall lodes, Pode)

Drilling has successfully informed the step-change resource/reserve work– drill drive will provide the next step-change for EKJV

development

The new 2.1km drill drive is now ~40% complete, this drive will provide the next long term drill platform to explore the depth

potential

Page 19

Kalgoorlie Operations - EKJV (51% NST)

19

2016 Resource and Reserve mining shapes

Resource

2016

5670RL

Pegasus Rubicon Hornet

Reserve

2016

5780RL

Reserve Resource Stoped

20

Pegasus Hornet

Reserve and Resource growth

focus

Discovery of 3 new ore bearing

lodes and further growth and

evolvement of all 24 lodes

Reserves across EKJV (51%)

0.6Moz (1.2Moz 100%)

Increase of 165,000 ounces (51%)

from 2016

Resource across EKJV (51%)

1,.28Moz (2.5Moz 100%)

Increase of 337,000 ounces (51%)

from 2016

Depleted 223,435 ounces in 2016

2017 Targets and Achievements

Resource

2017

5360RL

Rubicon

Reserve

2017

5780RL

Reserve

2017

5580RL

Avg Resource Vertical Increase

of 300m

Avg Reserve Vertical Increase

of 200m

Avg Reserve Vertical Increase

of 105m

Reserve ResourceDrill Sites Stoped Reserve focus 2016/17

21

Additional HW Opportunities to add ounces per vertical metre

Additional to K2 there are multiple hanging wall

lodes at Rubicon, Hornet and Pegasus

As we develop and grow our geological

knowledge and mindsets, we grow our ore bodies

Drilling and re-assessment / interpretation of

historical datasets will continue into FY18

Focus on reproducing the FY17 exploration and

growth success

22

2016 Resource and Reserve

Reserve Resource Stoped

Raleigh

23

2017 Resource and Reserve

Reserve Resource Stoped

Raleigh

Reserve and Resource

Focus

6 Surface drill rigs

targeting the Upper

Raleigh South region

Currently 9 active ore

headings

Up to 6 stopes in

production during the

month

Focus on the HG

southerly plunging trends

24

Raleigh South – This Year’s Targets

Future Drill Drive Development

HG Plunges

2017/2018 Target Zone

Drilling to focus on the promising

high grade plunging shoots to the

south and at depth

Consistent continuity of both

geology and grade of the Raleigh

Main Vein as we develop to south

High grade Raleigh Main Vein rich

in visible gold identified between

the 6017RL and 5800RL

2x additional drill platforms

planned at Raleigh South and

Raleigh Deeps

Drill Drive currently being

excavated and then drilling will

commence

100m

RRCD16009RURD359

1.05m @ 268g/t (67g.t.m)

25

EKJV Mining - What we can and have done August 2017

Up to 25 Stopes per month (2,000t stopes, 500t blasts) – iterative, continuous, productive, paste or CRF backfilled

Up to 30 active development headings per month (50m per day developed) – specialised crews, highly motivated and invested in the business

Capital infrastructure to enable independent activity – vent, power

Page 27

EKJV Operations: Rapid, low-cost production growth

Current Link Drive Development

PEGASUS RUBICON HORNET

Current Production Fronts

Future Production Fronts

Grade

2.29 - 4 g/t

4 - 8 g/t

8 - 12 g/t

12 - 16 g/t

16 - 20 g/t

20+ g/t

RALEIGH

27

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

Jan

-13

Ma

r-1

3

Ma

y-1

3

Jul-1

3

Se

p-1

3

No

v-1

3

Jan

-14

Ma

r-1

4

Ma

y-1

4

Jul-1

4

Se

p-1

4

No

v-1

4

Jan

-15

Ma

r-1

5

Ma

y-1

5

Jul-1

5

Se

p-1

5

No

v-1

5

Jan

-16

Ma

r-1

6

Ma

y-1

6

Jul-1

6

Se

p-1

6

No

v-1

6

Jan

-17

Ma

r-1

7

Ma

y-1

7

Devt Ore t Stope Ore t

EKJV Production Growth – Development Investment

28

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Jan

-13

Ma

r-1

3

Ma

y-1

3

Jul-1

3

Se

p-1

3

No

v-1

3

Jan

-14

Ma

r-1

4

Ma

y-1

4

Jul-1

4

Se

p-1

4

No

v-1

4

Jan

-15

Ma

r-1

5

Ma

y-1

5

Jul-1

5

Se

p-1

5

No

v-1

5

Jan

-16

Ma

r-1

6

Ma

y-1

6

Jul-1

6

Se

p-1

6

No

v-1

6

Jan

-17

Ma

r-1

7

Ma

y-1

7

Vertical Metres Capital Metres Operating Metres

NST Ownership NST Ownership

EKJV Production Growth

NSMS Model

Development and Production Experts

Focused and accountable for People, Equipment, Productivity

Technical Expertise

Extensive local knowledge of the orebody, built over years

Robust technical processes to ensure we derive good value from the orebody

Challenging the status quo

Highly active and engaged management / executive team

Pushing through “accepted” limits

Modification of established production sequences

Doubled production capability from active production levels

Introduction of alternative methods

Cemented Rock Filling & bottom-up mining sequence in Pegasus

Better equipment, automated guidance on boggers = increased

productivity without increasing development29

Faulting interpretation in the 5945N. Note the predominant dextral faulting orientation.

Excellent Geological Control

To this!

To this!

From this… 5945 N face #31 Raw photo

5945 North backs; faces # 23 - 36

Faulting

To this…

Ore drive directions

Shears

CMV Boundaries

PHOTO

GRAMMETRY

(SIROVISION)

SAMPLE & DIRECTION

INSTRUCTIONS

Uses:

Geological interpretation

Dilution monitoring (eg. digitising of half-barrels)

Geotechnical mapping and structural modelling

Geological modelling

Ore domaining prior to Resource estimation

Identify and extrapolate structures known to be

responsible for high grade zones, and target

areas for further drill testing.

30

Productive Mining Method

31

Alternative Mining Methods

32

100% NST Ground – The Next Chapter August 2017

Millennium

Pope John

Centenary Deeps

Historical

Centenary UG

Workings

South Pit Pope John PitStrzelecki Pit (Backfilled)

Historical Strzelecki

UG Workings

Historical Barkers UG

Workings

Barkers Pit

34

Kundana 100% NST - the next phase of growth

Millennium – What have we done so far

Development commenced August 2016:

3,873m development completed to the end of June

Averaging 313m/month (one Jumbo) in single heading development, 50% faster than tendered physicals

Averaging 453m/month (one Jumbo) for multi heading development.

$5M (25%) cost saving compared with tendered pricing

First Development ore intersected in June 2017

First Production ore due in December quarter

Established all surface infrastructure

35

Kanowna Belle – Geology Overview August 2017

Kanowna Belle

25km50km

KALGOORLIE

CARBINE / PARADIGM

KUNDANA

KANOWNA

New Tenements

Acra Joint Venture

Existing NST Interest

Acra

37

Page 38

Kanowna Belle is a +5Moz orebody, averaging 4,000oz

per vertical metre and open at depth

In FY17 NST completed 83,400m of U/G drilling focused

on Velvet, A Block, E Block and Lowes Extension at depth

NST’s operational cost reduction strategy has enabled

existing Resources to be bought into the mine plan

After review a number of geological opportunities have

been identified throughout the Lowes orebody complex

The Velvet deposit remains open up dip, along strike and

down plunge back towards the main Lowes ore body

Lowes ore body remains open along E Block with recent

exploration success at Lowes West and E Block East

Mineralisation has been encountered up to 450m below

the existing E Block production area

Kalgoorlie Operations: Rapid, low-cost production growth

38

Velvet

9245

Drill Drive

Resources currently outside of mine plan

Troy and Sims Lodes

Lowes Mineralisation

Stopes - 5Moz Produced

Looking North

Kanowna Belle - Reserves and Resources

Reserves grew 120% to

0.5Moz

Velvet only added

105,000oz to the

Reserves, or 21%

Still significant

mineralisation in and

around the existing

orebody

Significant review of the

geology and models

has further expanded

our knowledge

Reserves: 6.8Mt @ 2.7g/t for 596,000oz

39

Kanowna Belle – A 5Moz endowment in a tier 1 jurisdiction

Looking north

Looking north

KDU3605

10.35m @ 3.59g/t

KDU3667 6.0m

@ 8.43g/t

KDU3485

6.0m @ 4.47g/t

KDU3843

35m @ 4.64g/t &

15.5m @ 7.69g/t

KDU3604

10.70m @ 15.80g/t

KPU053

4.0m @ 6.95g/t

KDU3730

4.95m @ 8.38g/t

KDU3668

23.09m @ 8.86g/t

Due to the significant lowering of costs since NST took ownership, further exploration and mine planning work is being done

with a view of further increasing mine life

FY 17 Reserve stope shapesFY 16 Reserve stope shapes

40

Velvet – Open in a number of directions

Mining of Velvet is being

conducted on 4 levels so far

Accounts for 25% of FY17 and

FY18 production

High grade plunges have been

identified in Velvet

This year testing will occur up dip

and down dip back towards the

main Lowes orebody

Mineralised intercepts have been

achieved in the hanging wall of

Velvet, potential for further offsets

KDU3478

15m @ 5.1g/t

KDU3872

19m @ 9.4g/t

KDU3481

4m @ 17.2g/t

KDU3826

36m @ 6.4g/t

KDU3832

13.1m @ 2.9g/t

KDU3410

10.9m @ 13.6g/t

KDU3475

4.5m @ 28.1g/t

KDU3630A

33.0m @ 28.7g/t

KDU3464

2.1m @ 19.8g/t

KDU3425

7.4m @ 8.4g/t

KDU3472

15.7m @ 20.6g/t

VELVET MINERALISATION

Looking north

KDU3512

38m @ 5.3g/t

Proposed DD

41

What's Next July 2017

Kalgoorlie Operations

We have demonstrated the tenure of the Kalgoorlie region is highly

prospective.

We have demonstrated we have a great geological understanding

and can find and convert resources

Putting ounces on the books is one thing turning these to gold bars is

another

Our pedigree of taking assets and applying the mining and contractor

foundations is paying dividends

We can show the full story of how we will continue to find and rapidly

develop these resources to add mine life and continued gold

production in to the future

43