AMEC 2011 PresentationAMEC 2011 Presentation

June, 2011

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DisclaimerDisclaimerCompetent Persons StatementsThe information in this announcement that relates to exploration results, data quality, geological interpretations and potential for eventual economic extraction, is based on information compiled by or under the supervision of Brook Ekers, (Member AIG), who is a full-time employee of Northern Star Resources Ltd. Mr. Ekers has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Ekers consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.The information in this announcement that relates to Exploration Potential and comments on the resources estimates are based on information compiled by Mr Jason Boladeras, who is Exploration Manager for Northern Star Resources, a Member of the Australian Institute of Geoscientists and is employed by Geoarc Pty Ltd. Mr Boladeras has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Boladeras consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.The information in this announcement that relates to exploration results, data quality, geological interpretations and potential for eventual economic extraction, is based on information compiled by or under the supervision of Mike Doepel, (Member AusIMM), who is a full-time employee of Sipa Resources Limited. Mr. Doepel has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Doepel consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.1 Exploration PotentialThe information in this announcement that relates to exploration and production targets refers to targets that are conceptual in nature, where there has been insufficientexploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. The information on exploration targetsin this presentation are based on a conceptual range of targets as follows:Tonnage range: 350,000 to 600,000 tonnesGrade range: 9 g/t Au to 13 g/t AuOunces: 100,000 to 250,000Resource Tables attached in Appendix 1

Forward Looking StatementsNorthern 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.

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The Northern Star VisionThe Northern Star Vision

To build a substantial mining company through exploration, organic growth and acquisitionTo maintain strict financial discipline with an emphasis on shareholder return To build a world-class team of in-house mining experts who will give the company a competitive advantage in assessing, acquiring and developing opportunities

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Corporate and Asset OverviewCorporate and Asset Overview

Market cap: $120m based on 305m shares at 40c, plus 70m optionsCash/Bullion on hand: $14m as at 30 June, 2011 Top 20 hold 50% (inc InvestMet with 20%)Key production asset: Paulsens Gold Mine near Paraburdoo in WA, acquired in July 10Current JORC resource at Paulsens of 226,000oz2; Annual production ~75,000oz Acquired the neighbouring Ashburton Gold Project (resource of 668,000oz2)Company Resource base ≈ 1Moz

2 Refer to Appendix 1 resource tables

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Corporate and Asset Overview (continued…)Corporate and Asset Overview (continued…)

Have grown Company resource base from 30k oz to ≈ 1M oz in less than 12 months through exploration and acquisition

Shelf

PurchasePaulsens

1st ResourceUpgrade

2nd Acquisition

0

200000

400000

600000

800000

1000000

Jan‐10 Jul‐10 Jan‐11 Jul‐11

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Paulsens – The Past Paulsens – The Past

Paulsens started production in 2005 under Intrepid ownershipProduced 373,000oz in five years to Mid-2010 at an average gold production of 70-80,000oz per annumCY2009 EBITDA $39M at gold price of A$1200/oz

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Paulsens – The Present Paulsens – The Present Acquired by Northern Star in July 2010 for $40m and repaid from cashflow within 7 monthsMaiden Company profit of $5M in six months to Dec 31, 2010 after $25M acquisition costs and $5M invested in drilling and capital devRecord half year performance in December 2010H Solid March Quarter, 2011 which exceeded upper end of guidanceJune Quarter, 2011 will also exceed guidance2011FY will be a site record +85,000oz, +10% past recordAverage monthly total site cost of $5M or 3,500oz to breakevenImplemented commercial strategies based on 3 year mine life

Ability to reduce total costs $50-100/oz

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Paulsens – The Present (continued…)Paulsens – The Present (continued…)

2011 mine plan forecasts surplus cashflow of $40m through the production of 75,000oz. Currently exceeding this guidance Resources increased to 226,000oz and underpinned by key Voyager 1 lode that is being mined at 1000oz per vertical metreVoyager 2 lode has an exploration target1 of 100,000-250,000oz

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Paulsens – The FuturePaulsens – The Future

Paulsens is now set for a long and profitable futureVoyager 1 lode producing strong results from drilling down plunge, highlighting excellent potential for further resource increasesDrilling Voyager 2 lode in lead-up to maiden resource estimate later in 201130,300oz (inc in total resource figure) in Upper Paulsens lodes in previously mined shallower levels64,500oz @ 3g/t (inc in total resource figure) in an optimised open pit to be evaluated with a view to minePotential to increase production to +100,000ozpa through open pits and plant upgrade to 650,000 tonne per annum$12.5M exploration/drilling budget for Paulsens resource drilling, in-mine exploration and further evaluation of numerous targets within 1300km2 tenement package

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Paulsens Regional and other Exploration UpsidePaulsens Regional and other Exploration Upside

No other sizeable deposit within 50km radius of the Paulsens mine1,300km² of Tenements, numerous targets 100% owned and JV’sNo other operational gold processing plant within 400km radiusCheroona copper/gold project, 80km from Sandfire discovery

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Ashburton Gold ProjectAshburton Gold Project

Past oxide open pit production, 1998 to 2004 of 340,000oz @ 3.3g/tProject contains 668,000oz @ 3g/t resource mainly in sulphidesNumerous walk up drill targets and opportunity to review past feasibility studies that were based on a A$525/oz gold price Drilling at Peake has commenced, expect results in Sep 2011 quarter

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Board of DirectorsBoard of Directors

Successful record in discovering and developing minesBILL BEAMENT – Managing Director (Mining Engineer)Former General Manager – Operations for 12 mines across WA, including 3.5 years involvement at Paulsens overseeing the incumbent mining contractor. Established over 15 new mining operations across Australia.CHRIS ROWE – Non Executive Chairman (Barrister and Solicitor)Barrister and solicitor - previous chairman or director of a number of public listed mining and oil and gas related companies in both Australia and North AmericaMICHAEL FOTIOS – Non Executive Director (Geologist) Chairman of InvestMet Limited. Former Managing Director of Galaxy Resources. Held senior positions with Homestake and Sons of Gwalia. Involved in the discovery of 4 million ounces of gold.PETER FARRIS – Non Executive Director (Business/Corporate Advisory)Highly Credentialed Businessman with extensive experience in the Perth real estate industry and corporate advisory services.

DISCIPLINES TO OPERATE A MINING BUSINESS ARE COVERED

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Senior ManagementSenior Management

BERNIE SOSTAK – General Manager of Geology Geologist with over 20 years in the Gold Industry with extensive experience in mine geology, resource estimations, planning and general operations management in underground and open pit. Held senior management roles with WMC, Broken Hill Metals and Coolgardie Gold. Most recently as Barrick’s Director of Resource/Reserve Strategy based in Toronto managing reserve replacement programs on 4 continents.RAY PARRY – General Manager Finance and Commercial Experienced Finance Executive with over 25 years experience in the mining and banking industry. Previously held the position of Commercial Manager with St Barbara Ltd overseeing the recommencement of mining and processing at the company’s Gwalia, Tarmoola and Southern Cross operations.CRAIG JONES – General Manager (Paulsens) Mining Engineer with previous roles at Barrick Lawlers Gold Mine and Western Metals Lennard Shelf Operations. Extensive experience in numerous mining methods and contract mining.BROOK EKERS – Geology Manager (Paulsens) Geologist with extensive experience in underground gold mining and has held the Geology Manager position at Paulsens for 7 years. Held senior management position at Normandy Bronzewing OperationMIKE BURNS – Process Manager (Paulsens) Metallurgist with vast experience in operating, commissioning, development and research of milling operations to increase extraction and recovery, improved throughput capacity and reduced operating costs.

5 KEY SITE MANAGERS HAVE +3.5 YEARS EXPERIENCE AT PAULSENS

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Ten Reasons to Follow Northern StarTen Reasons to Follow Northern Star

1. ~75,000ozpa production at $620/oz cash cost2. Up to $40m surplus cashflow in 20113. Debt-free and unhedged4. 226,000oz resource at Paulsens, outstanding drilling results

point to further substantial increases in resources and mine life5. Drilling has commenced at the Company’s second project,

Ashburton, which already has a 668,000oz resource within trucking distance of Paulsens processing plant

6. Significant potential to grow the Company resource base of 1Moz

7. Strong scope to increase Paulsens production to +100,000oz pa

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Ten Reasons for Wise Men to Follow a Northern StarTen Reasons for Wise Men to Follow a Northern Star

8. Significant exploration potential at Cheroona copper/gold project – just 80km from Sandfire and in similar geological setting

9. Highly experienced board and a management team who can be shifted from project to project, maximizing acquisition and development opportunities

10. Key three-year target: $500m market cap (currently $120m), through exploration, organic growth and acquisition

Bill Beament

ManagingDirectorJune, 2011

Bill Beament

ManagingDirectorJune, 2011

www.nsrltd.cominfo@nsrltd.com(08) 6241 1866

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Appendix 1Appendix 1

31 December 2010 Indicated Inferred Total

Tonnes(,000)

Grade(g/t)

Tonnes(,000)

Grade (g/t)

Tonnes(,000)

Grade(g/t)

Oz Au(,000)

Open Pit 471 2.9 200 3.3 671 3.0 64.5 Paulsens Upper Levels 110 7.5 23 5.0 133 7.1 30.2 Voyager 1 230 9.9 234 6.3 464 8.1 120.2 Paulsens Stockpiles 43 5.5 43 5.5 7.6 GIC and CIT2 3.4 Total 811 5.5 457 4.9 1268 5.3 226

Table 1 - Paulsens Resources @ 3.0g/t Au Lower Cut-Off Underground and 1.2g/t Au Lower Cut-Off Open Pit (Rounding errors apparent,2GIC/GIT represent gold in circuit and transit) As at 31 December 2010.

Measured Indicated Inferred Total Tonnes (,000)

Grade (g/t)

Oz Au (,000)

Tonnes (,000)

Grade (g/t)

Oz Au (,000)

Tonnes (,000)

Grade (g/t)

Oz Au (,000)

Tonnes (,000)

Grade (g/t)

Oz Au (,000)

Oxide and Transitional 611 2.40 47 342 2.52 28 237 2.28 18 1,189 2.41 92

Sulphide 901 2.83 82 1,070 2.66 92 3,984 3.14 402 5,956 3.01 576

Total 1,512 2.66 129 1,412 2.63 119 4,221 3.09 420 7,145 2.91 668

Table 2 - Ashburton Resources @ 0.9g/t Au Lower Cut-Off