Mr. Vincent Teo reports

UP TO $500,000 PRIVATE PLACEMENT OFFERING

Northern Uranium Corp. has agreed to a non-brokered private placement offering of up to 5,555,555 units in the capital of the company at a price of nine cents per unit for gross proceeds of up to $500,000. Each unit will consist of one common share and one transferable warrant, with each such warrant entitling the holder to purchase one additional share at a price of 12 cents per share for one year. The company is relying on an exemption from the related party requirements of Multilateral Instrument 61-101 for the participation by control persons and other insiders of the company in the financing, which participation is approved in advance by independent directors. A portion of the private placement will be on a flow-through basis. Units will entitle holders to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada). Proceeds of the financing will be used for payment of debt, working capital and for property exploration. A finder's fee may be payable on a portion of the private placement. The financing is subject to acceptance for filing by the TSX Venture Exchange.