Mr. Vincent Teo reports

NORTHERN URANIUM CLOSES $500,000 FINANCING

Northern Uranium Corp. has closed its previously announced private placement financing, issuing 6,666,661 units at 7.5 cents per unit for proceeds of $500,000. Each unit is composed of one common share and one one-year transferable warrant with each warrant entitling the holder to purchase one additional share at a price of 10 cents per share. Seventy thousand dollars were issued on a flow-through basis. The flow-through shares comprising the 933,333 flow-through units and 933,333 flow-through shares issuable upon exercise of the warrants comprising the flow-through units will entitle holders to receive 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 property exploration. The financing terms have been accepted for filing by the TSX Venture Exchange. The units are restricted from trading until March 1, 2026. A cash finder's fee of 6 per cent, totalling $27,600, representing 6 per cent of the gross proceeds from a portion of the financing, will be paid to T-Bone Ventures Inc. in accordance with TSX Venture Exchange policies.