Bill Beament, Managing Director

1. 12,178gpt intersection at Paulsens
• Maiden 2.5c fully-franked dividend for FY12 (3% yield)
• $65-85m surplus cash forecast for CY13
• Resources to underpin +5-year mine life at Paulsens
• Clear strategy to grow group production to +200,000ozpa

2. Disclaimer
Competent Persons Statements
• The information in this announcement that relates to Paulsens and Mt Olympus mineral resource estimation, exploration results, data quality, geological interpretations, potential for eventual
economic extraction and estimates of exploration potential, 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".
• The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves in the ‘Exploration’ section of this report is based on information compiled by Mr Jason
Boladeras, who is a Member of the Australian Institute of Geoscientists (AIG) and Exploration manager and casual employee of Northern Star Resources. 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.
• Information in this announcement that relates to the Ore Reserves has been compiled by Shane McLeay, Principal Engineer – Entech Pty Ltd, who has sufficient experience 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”. Shane McLeay is a Member of the Australasian Institute of Mining and Metallurgy and consents to the inclusion in the report
of the matters based on his 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.
Page 2

3. Team with a track record
Shares Options Board - Successful record in discovering and developing mines
Total 424M 3.5M
BILL BEAMENT Managing Director (Mining Engineer)
* As at Sep 2012
CHRIS ROWE Non Executive Chairman (Barrister and Solicitor)
Share price: A$1.25 Non Executive Director (Investment Fund
PETER O’CONNOR
Management)
Market Capitalisation (ASX : NST) ASX 200
MICHAEL FOTIOS Non Executive Director (Geologist)
Undiluted ~A$530M
Non Executive Director (Business/Corporate
PETER FARRIS
Advisory)
Cash & Bullion (30 June 2012) A$75M
DISCIPLINES TO OPERATE A MINING BUSINESS ARE COVERED
Top 20: +50%
Senior Management
RAY PARRY Chief Financial Officer
Institutions 30%
BERNIE SOSTAK General Manager Geology
Board and Management 20%
PHIL TORNATORA General Manager Exploration
High Net Worth Individuals 20%
DARREN STRALOW General Manager (Paulsens)
Retail 30%
MANAGEMENT CAPACITY TO CATER FOR COMPANY GROWTH
Page 3

4. Northern Star: an abridged history
• Acquired Paulsens Gold Mine in
Western Australia from Intrepid Mines
(TSX/ASX : IAU) : for A$40M in July 2010
• At the time Paulsens had an eight-
month life based on a mine plan of
45,000oz
• Repaid full A$40M acquisition from
cashflow within 7 months
• Mine has been producing every year
since 2005 at average rate of 70-
80,000ozpa
• Established our own in-house mining
services division, “owner operator”
Page 4

5. Paulsens – Productivity Drive
• Changed out Mining and Crushing Contractors with in-house team (Northern Star Mining Services Division)
• Increased our productivity by 43% in ore tonnes mined in the first full year, expect to improve again this year
• Dropped total cost per tonne by 20%, lowering the underground cut-off from 4gpt to 2.5gpt
• Enables the Company to mine a greater portion of the orebody, bodes well for feeding our expanded plant
• Recently de-risked the mine by installing a new mobile plant fleet and accelerating capital development
• Mining Services Division skill set is opening up business opportunities beyond Paulsens
Tonnes Mined Mining Cost/Tonne
120,000 $140.00
107,970 Contractor NSMS
Contractor NSMS
100,000 $120.00
87,517 $98.76
83,260 $97.13
78,736 $100.00
80,000 $84.15
$80.00 $71.90 $71.89 $74.10
Tonnes
57,703 57,755
$/t
60,000
$60.00
40,000
$40.00
20,000 $20.00
- $0.00
Q3 FY 11 Q4 FY 11 Q1 FY 12 Q2 FY 12 Q3 FY 12 Q4 FY 12 Q3 FY 11 Q4 FY 11 Q1 FY 12 Q2 FY 12 Q3 FY 12 Q4 FY 12
Page 5 Source:

6. Profitability and Balance Sheet “Rapidly Growing”
Page 6

7. 2012: Strategy pays dividends .. literally
• June Quarter production of 19,000oz at A$646/oz (inclusive of royalties)
• On track to meet CY12 guidance of 75-80,000oz and A$35m surplus cash (after allowing A$15M capex)
• Declared a maiden fully-franked dividend of 2.5c
• Delivered two resource upgrades, taking total inventory to 403,000oz1 – 180% increase
• Raised A$42.5M at 90c, lifting treasury to ~A$75 million
• Global institutions brought onto register
Paulsens Resource Growth
Page 7 Source:

8. Voyager Lodes: The Paulsens Engine Room
• Voyager 1 is the flagship lode at Paulsens
• Currently mining this lode 550m below
surface. Mineralisation drilled to 850m and
remains open at depth
• Game changer emerged in Feb 2012 with the Voyager 1 Mined to June 2012
discovery of the high grade extension zone 170,000oz Average grade 8g/t
• JORC resource grade in the zone runs at 25gpt Current Production Levels : 7-8g/t
• First development ore from Voyager 1 Extn. First Extension Zone ore intersected
Average development grade 12g/t
intersected in Sep Quarter averaging 12gpt;
production ore due in Jan 2013 Voyager 1 Extension
Resource grade 25g/t
• Voyager 2 begins 650 metres below surface
and sits immediately adjacent to Voyager 1
• Maiden resource grade of 11.4gpt
• Opportunity to mine both lodes at the same
time; no additional capital or level
development required
Page 8

9. Deep drilling: high-grade hits 325m below current workings
• Orebody has yielded 500,000oz over ≈
400 vertical meters, 7 years of
production so far
• Deep holes drilled in June to target ore
body a further 400-500 vertical metres
below current workings
• Outstanding results first up with grades
up to 63gpt returned
• Results highlight potential to extend
mine life well beyond 5 years
Page 9

10. 2013: The year of rising production, falling costs and increasing cashflow
• Key CY2013 forecasts @ Gold Price A$1,550/oz:
• Total production of 100-115koz
• Plant capacity expanded by 25% to 450,000tpa
• Average blended grade to rise 20% from 7gpt to ~8.5gpt
• Cash Costs C1 of A$610-690/oz (inclusive of A$40/oz royalty)
• Total Operating Costs C3 of A$850-950/oz
• Generating surplus cash of A$65-85 million
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11. Exploration: writing the next chapter for Northern Star
• Part-way through A$20M exploration
program, consistent stream of
outstanding results
• No other deposit found within 50km
radius of Paulsens mine, which is now
approaching the 1Moz endowment
• Great opportunity as there has been
limited regional or near-mine exploration
for the past 10-15 years
• Over 100 targets already identified,
drilling underway on the priorities,
received outstanding initial results
Page 11

12. Ashburton – a 100,000ozpa stand-alone operation
• Ashburton Project located within trucking
distance of Paulsens
• Acquired in June 2011 for zero cash payment;
royalty payable on production over 250koz
• Oxide open pit operation from 1998 to 2004,
produced 340,000oz @ 3.3gpt
• JORC resource recently upgraded by 50% to
1Moz3
• Studies well underway on a stand-alone
100,000ozpa operation based on sulphide ore
• This will take total group production to
200,000ozpa
• Free-milling ore to be trucked to Paulsens plant
• Metallurgical testing underway on sulphide ore,
initial results show 80-90% total gold recovery
• Feasibility on sulphide project is underway
• Resource in-filling and extensional drilling
ongoing
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13. Key reasons to invest in Northern Star
• Extremely strong cash generation from high-grade and high-margin ounces
• Growing production to underpin further growth in surplus cash (up to A$85 million CY2013)
• Sufficient resources to underpin +5 year mine life, with further extensions expected
• Exploration continues to return outstanding high-grade results at Paulsens and Ashburton
• Studies progressing rapidly on second 100,000ozpa stand-alone operation, taking group production to
200,000ozpa
• Cash balance of A$75 million and growing
• Maiden dividend declared of 2.5 cents full franked (Paid in September 2012)
Page 13

14. 12,178gpt intersection at Paulsens
• Contact Details:
• Bill Beament – Managing Director +61 8 6188 2100
• Email – info@nsrltd.com
• Website – www.nsrltd.com