Mr. Vincent Teo reports

NORTHERN URANIUM SEEKING SHAREHOLDER APPROVAL TO SHARE CONSOLIDATION

At its annual and special meeting of shareholders scheduled for Dec. 21, 2023, Northern Uranium Corp. will be seeking shareholder approval to a proposed consolidation of its share capital on the basis of one postconsolidation share for a maximum of every 25 preconsolidation shares, subject to the board's authority to decide not to proceed with the share consolidation.

Currently, a total of 162,361,514 common shares in the capital of the company are issued and outstanding. Accordingly, if put into effect on the basis of the maximum ratio of one new common share for 25 existing common shares, a total of 6,494,461 common shares in the capital of the company would be issued and outstanding following the said consolidation, assuming no other change in the issued capital. There is currently no maximum number of authorized common shares.

The share consolidation is being proposed in order to allow the company greater flexibility in future financings. The share consolidation is subject to shareholder approval and TSX Venture Exchange acceptance for filing. The company's name will not be changed in conjunction with the share consolidation.