TSX: NSC Forward Looking Statements This presentation contains - - PowerPoint PPT Presentation

TSX: NSC

TSX: NSC 2

This presentation contains “forward-looking information” within the meaning of applicable securities laws. This information addresses future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking information. Such forward-looking information is frequently identified by words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “intend” and similar terminology and reflect assumptions, estimates, opinions and analysis made by our management in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Northern Sun’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability of suitable financing alternatives; fluctuations in nickel and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from Northern Sun’s activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual information form and in other filings we have made with Canadian securities regulatory authorities and available under our profile on www.sedar.com. No invitation to purchase securities is being made. Northern Sun disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law. The technical and scientific content of this presentation has been reviewed and approved by David M. Rigg, P.Geo. and qualified person under NI 43-101. As President and CEO of Northern Sun, Mr. Rigg is not considered independent.

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Forward Looking Statements

TSX: NSC 3

Substantial Assets with New Corporate Focus

• 1,500 tpd Redstone Mill centrally located in the Timmins Mining District, Ontario
• Fully permitted at 1,500 tpd with upside capacity of 2,000 tpd
• Designed for two independent 750 tpd circuits processing different ores
• Redstone Mill will offer toll milling services in 2014
• Company focused on Asset and Resource growth in the Timmins Mining District

through exploration and development of advanced Resource projects

• As joint ventures or through project acquisitions
• Company will acquire the Snow Lake Mine and property package in 2013-2014
• Northern Sun Mining’s first major gold acquisition
• > 1 Million Ounce Gold Resource with Feasibility-level Reserve Base of over 450,000 Ounces Gold
• Developed Mine infrastructure with fully permitted 2150 tpd Mill
• Targeting Annual Production rate of 80,000 ounces Gold by late 2015
• Maintains large land position in Shaw Dome Nickel Belt, Timmins
• Two mine projects await higher long-term nickel (Ni) prices – Redstone and Hart
• Measured and Indicated Resources of 50 M.lbs. Ni with additional Inferred Resources of 35 M.lbs. Ni*

*please see mineral resource chart on page 26

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Investment Highlights

TSX: NSC 4 4

Property Locations

Snow Lake, MB Timmins, ON

TSX: NSC 5

• Jien International Investments Ltd. (‘JIIL’) owns 60% equity interest in NSC
• JIIL will maintain its pro-rata share position in any future financings
• 2,150 tpd capacity Snow Lake Mill and the 1,500 tpd Redstone Mill are

strategically located in two of Canada’s leading Gold districts

• Mills provide a platform for regional consolidation and production growth
• Immediate income from toll milling at Redstone expected in 2014
• Medium-term growth potential targeting 80,000 ounces gold (‘oz.Au’) per

year by 2015 by restarting the Snow Lake Mine, with projected total cash costs estimated at CDN$852 per oz.Au. Full feasibility* and permits in place

• Cash Flows from Snow Lake mining operations and from milling
• perations in Timmins is anticipated to support future growth

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Strategic Advantages

* See End Notes - 1

TSX: NSC 6

• JJNICL – listed on the A-Share market of the Shanghai Stock Exchange
• Current Market Cap of Approximately $2 Billion (CAD)
• Jien International Investment Inc. (“JIIL”), a wholly owned subsidiary
• f JJNICL, is Northern Sun Mining’s largest shareholder (60%
• wnership) and creditor
• Fully Supportive of new management and turnaround plan involving

various restructuring activities to re-position Northern Sun Mining as a near-term gold producer

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Our Strategic Partner

TSX: NSC 7

Redstone Mill - a keystone in the future development of Northern Sun Mining Corp.

• Operating income from toll milling will support all activities
• Circuit flexibility allows mill to accommodate two ores at the same time allowing multiple

clients, bulk samples, etc.

Recent Feasibility Studies in the Timmins Mining District:

• Provide Capital Cost Estimates for potentially economic deposits throughout the District
• Capital Costs in several recent studies include $60M to $90M for Mill construction, often a

substantial portion (40 -50%) of total Capital Costs

Debt and equity financing is currently very difficult due to lack of Investors, poor Investor interest and/or low equity prices

• The combination of high Capital Costs and inability to finance, generates many opportunities:
• More projects consider Toll Milling to avoid cost of Mill construction
• Joint venture opportunities are available where a Mill is collateral and contributory to JV

terms

• Potential for outright purchase of advanced projects of merit

Potential future addition of gold processing plant (Cyanidation with Carbon-in-pulp) will further enhance opportunities and the contributory value of the mill in acquisitions

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Timmins Mill – A Key Asset

TSX: NSC 8 8

Mill History

• 100% owned by Northern Sun Mining Corp.
• 2007-2012: Operated as the only Nickel concentrator in the Timmins District
• Production terminated due to low metal prices
• Designed with two processing circuits that can operate in tandem at a permitted rate
• f 1,500 tonnes per day (“tpd”), but with the flexibility to operate independently

processing two different ore types, each at 750 tpd

• In 2014, the Mill will offer toll milling services to deposits in the Timmins Mining

District and general area

• Potential future addition of Gold processing plant (Cyanidation with Carbon-in-pulp)

will further enhance milling opportunities and value

TSX: NSC 9 9

Southern Abitibi Subprovince

40 km km 40

Base Metal Camps in the Southern Abitibi Subprovince Gold Deposits (Prod + Res) in the Southern Abitibi Subprovince Past production > 173.2 M.oz.Au

Coutrtesy QMX Gold Coutrtesy QMX Gold

• The Abitibi Subprovince is the largest

area of Archean rocks in the world

• The Southern Abitibi hosts many

world-class former- and currently- producing Gold and Volcanogenic Massive Sulphide (VMS) Deposits

• Represents one of the top three

gold-producing regions in the world (>173 Million oz.Au)

• Majority of Gold deposits related to

>250-km long structural zones that define the Cadillac and Larder Lake Breaks

• 8 Major Gold Camps
• 4 Major Base Metal Camps

TSX: NSC 10

Historical Metal Production in the Timmins Mining District exceeds 65.6 M.oz.Au; 147.4 M.oz.Ag; 2.6 Mt Copper and 8.5 Mt Zinc*

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Timmins Mining District

• Timmins District is the largest Gold and Base Metal (VMS) producing District

within the Southern Abitibi Subprovince of Ontario and Quebec

• Timmins Mining District also hosts deposits mined for Nickel, Talc-Magnesite,

and Asbestos

• Deposit-rich region with many new prospective areas with potential for new

discovery

• Ideal for “Exploration in the shadow of a Head Frame”
• Extensive historical database gathered over more than 90 years of exploration
• Mining-friendly region with established infrastructure, including two Smelters

* See End Notes - 2

TSX: NSC 11

Terms of Acquisition

• 100% interest in the Mine and 104 sq.km. property (subject to royalties)

upon cash payment of $20 M expected in December 2013

• Transaction will close by January 14th, 2014
• JIIL to provide pro-rata 60% of the financing for Snow Lake acquisition

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Snow Lake Mine Acquisition

TSX: NSC 12

• Total historic production of 1.44 M ounces gold from Main

Mine, No. 3 Zone, and Birch deposits

• Mined: 12.1 M tons @ 4.67 g/t Au
• 1955–1965: Nor Acme Mine produced 620,000 oz.Au
• 1995–2005: Mine rebuilt by Kinross/High River Gold JV
• 1995–2005: New Britannia Mine produced 822,550 oz.Au
• Surface installations
• Mine rebuilt in 1995 under TVX-High River JV
• Crushing, milling and mine infrastructure maintained in

excellent condition

• Permitting and environmental licenses maintained
• Access at Main Mine via Shaft and ramp, #3 Zone via

ramp; and Birch zone remains as an open pit

• Feasibility Study estimates 18 months to reach full

production, with gold production ramping-up after 12 months

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Snow Lake Mine

TSX: NSC 13

Snow Lake Resource* and Reserve* Base:

A 43-101 compliant Feasibility Study was published in October 2010 for QMX Gold Corporation. The study estimated Total Resources on the Snow Lake Properties and furthermore identified within these Resources areas of economic potential. The study identified the following Resources:

 Measured and Indicated Resources: 5,471,000 tonnes grading 4.14 g/t Au for 728,000 oz Au; and  Inferred Resources: 2,367,000 tonnes grading 4.43 g/t Au for 336,700 oz Au

Within the Measured and Indicated Resources the Study identified the following Reserves:

 Proven and Probable Reserves: 3,477,000 tonnes grading 4.04 g/t Au for 451,900 oz Au

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Snow Lake Mine

* See End Notes - 1

TSX: NSC

An established Mining District with 16 known mineral deposits

Location and Geology

Snow Lake Lalor

• No. 3 Zone

Snow Lake Mine

Birch Zone Kim Zone #3 Zone Boundary Zone Snow Lake Mine Bounter Zone Caper Zone East Zone

Snow Lake Mine - Exploration

VMS

Missi Group Sediments Burntwood Group Sediments

TSX: NSC 15 15

Snow Lake Feasibility Study

Feasibility Study of Main Mine & #3 Zone1

Pre-Production Capital Expenditures $40.8 million Sustaining Capital Cost $36.1 million Internal Rate of Return (IRR) 79% Payback Period 1.7 years Recoveries 93.3 % Average Annual Production 83,000 oz.Au Mine Life 5 years Cash Cost (LOM) US$ 640/oz.Au Cash Cost (LOM) CDN$ 81.41/ tonne Accumulated Cash Flow (Pre Tax) $140.7 million 2

1 See End Notes - 1 2 Bloomberg average consensus modelled gold prices used based on 2011 – US$1,277; 2012 – US$1,303; 2013 – US$1,276; 2014 onwards

– US$1,051. Average realized sale price for the project US$1,190. CAN/US FX : 2011– 2013 at 1.04; 1.06 onwards.

3 Cut off grade of 1.95 g/t

Reserves / Resources: Proven and Probable Reserve (4.04 g/t) 451,900 oz.Au Measured and Indicated Resources (4.14 g/t) 3 728,000 oz.Au Inferred Resources (4.43 g/t) 3 336,700 oz.Au

TSX: NSC 16 16

Snow Lake Proposed Mine Schedule

3 Zone Dewatering + Reconditioning 3 Zone Pre-Production from ramp 3 Zone Production from ramp Shaft & Mine Reconditioning Main Mine Pre-Production Main Mine Production Q 1 Q 2 Q 3 Q 4 Q 5 Q 6 Q 7 Q 8 Q 9 Q 10 Q 11 Q 12 Q 13 Q 14 Q 15 Q 16 Q 17 Q 18 Q 19 Q 20 Q 21 Q 22 Q 23 Q 24

1 2 1 2 3 4 Boundary Zone Main Mine Kim Zone No.3 Zone 1 2 3 4 2 1

Snow Lake Production Begins Commercial Production 2,000 TPD in Q7

1780L

TSX: NSC 17

Upper Main Mine Area

• 2011 exploration tested future proposed mining areas on the upper mine levels
• Exploration has increased confidence in mineralized structures within the zone and in the mine area
• Additional areas of potential will be delineated when underground access is available
• Many areas recognized in, and adjacent to, workings support potential for ‘non-resource mill feed”

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Snow Lake - Exploration

East Zone

TSX: NSC 18

TSX Trading Symbol: NSC Shares Outstanding: 7,295,425 Stock Options(1): 291,333 Fully Diluted 7,586,758 Market Cap(2) $5.33 million Current Cash(3) $583,862

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Market Data

• 1. 292,733 options exercisable at a weighted average price of $4.76 per share.
• 2. As at Dec 2, 2013, using a closing price of CAD $0.73 per share.
• 3. As at Sept 30, 2013 per Q3 Unaudited Financial Statements.

TSX: NSC 19

David Rigg, President & CEO - David has over 35 years of experience in the mining industry, including work on exploration and mine development programs in Ontario and Quebec. Most recently, he was President and CEO of Alexis Minerals Corporation, where he now acts as

• Chairman. He has worked for Agnico Eagle Mines in Val d’Or, Quebec in various capacities

including Exploration Manager and has gained international experience in Africa and Sweden. He contributed to the discovery of the Musslewhite Mine and was a member of the LaRonde Mine discovery team awarded Prospector of the Year award by the QPA in 1995. Mr. Rigg obtained a B.A. and M.A. from King’s College, Cambridge University, England in 1978 and a M.Sc. at Queens University in 1980. Deb Battiston, CFO - Deborah Battiston is a Certified General Accountant with over 20 years of accounting and financial management experience. At present, she is the Chief Financial Officer of a number of Canadian public companies in the mining sector. She has broad international experience having dealt with companies in over fourteen countries and having lived in Japan for several years. She has obtained a B.A. in Economics from the University of Guelph. Jennifer Wagner, Corporate Secretary - Ms. Wagner is a corporate securities lawyer who works as a legal consultant to several publicly traded companies in the mining industry. Ms. Wagner previously practiced securities law at a large Toronto law firm. Ms. Wagner obtained her Bachelor

• f Laws from the University of Windsor and received a Bachelor of Arts from McGill University.

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Management Team

TSX: NSC 20 Wu Shu, Director & Chairman of the Board - Mr. Wu Shu is the CEO of Jilin Jien Nickel Industry Co. Previously he was the President of Jilin Haorong Nonferrous Metal Group. Co.,Ltd. and CFO and Director of JJNICL. Hoadong Li, Director - Mr. Li joined Jilin Jien Nickel Industry Co., Ltd in 2005 and subsequently joined Horoc Group, which is Jilin Jien's controlling shareholder. At Horoc Group he serves currently as deputy director of Planning and Strategy Department.

Scott Moore, Director - Mr. Moore is an experienced business executive with over 25 years in the resource and durable goods

• sectors. He is presently the Chairman of the Board of Directors of Copper One and Chief Operating Officer of Forbes and
• Manhattan. Mr. Moore holds a Bachelor of Arts degree from the University of Toronto and an MBA from the Kellogg School of

Management. David Rigg, President & CEO – see management page. Geoff Stanley, Director – Mr. Stanley’s career in the mining industry spans over 25 years, including 15 years in New York’s financial centre as a Managing Director, Senior Mining Analyst and Portfolio Manager, most recently with BMO Capital Markets and Platinum Partners. Prior to his move to New York from Australia in 1994, Geoff worked as a mining analyst with Jacksons Ltd, Jardine Fleming, and the Warburg Group. He spent the first six years of his career as an exploration geologist with Billiton. James Xiang, Director - Mr. James Xiang is the CFO of Jien International Investment Ltd. Prior to that, Mr. Xiang was President

• f China Mineral Resources Limited which is a private equity investment company in resource industry and also provides

financial advisory services to Chinese companies that are seeking listing, financing and M&A opportunities in North America and Canadian companies that are seeking for financing and marketing in Asia.. Mr. Xiang holds a Bachelor of Arts from Huazhong University of Science & Technology in China and a Masters of Business Administration from York University. Mr. Xiang is a Certified Management Accountant (Ontario).

• Dr. Shu Zhang, Director - Dr. Shu Zhang’s career in mining started 38 years ago. He worked as an underground miner and a

mining engineer in China and then a university lecturer, a mining consultant and a technical services manager in Australia. From 1999 to 2010, he was first with Sydney, Australia, based Sino Gold Mining Ltd and late with Vancouver, Canada, based Eldorado Gold Corp., worked as a Mine Site General Manager, Group General Manager HR, and Group General Manager Operations

• Development. Currently he is the President of Jien International Investment Ltd. (JIIL).

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Board of Directors

TSX: NSC 21

Substantial Assets with New Corporate Focus

• 1,500 tpd Redstone Mill centrally located in the Timmins Mining District, Ontario
• Fully permitted at 1,500 tpd with upside capacity of 2,000 tpd
• Designed for two independent 750 tpd circuits processing different ores
• Redstone Mill will offer toll milling services in 2014
• Company focused on Asset and Resource growth in the Timmins Mining District

through exploration and development of advanced Resource projects

• As joint ventures or through project acquisitions
• Company will acquire the Snow Lake Mine and property package in 2013-2014
• Northern Sun Mining’s first major gold acquisition
• > 1 Million Ounce Gold Resource with Feasibility-level Reserve Base of over 450,000 Ounces Gold
• Developed Mine infrastructure with fully permitted 2150 tpd Mill
• Targeting Annual Production rate of 80,000 ounces Gold by late 2015
• Maintains large land position in Shaw Dome Nickel Belt, Timmins
• Two mine projects await higher long-term nickel (Ni) prices – Redstone and Hart
• Measured and Indicated Resources of 50 M.lbs. Ni with additional Inferred Resources of 35 M.lbs. Ni

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Investment Highlights

TSX: NSC 22 22

Contact Information

TSX: NSC 23

Appendix

Gold Deposits (Prod + Res) in the Southern Abitibi Subprovince

Additional Reference Slides: 1/ Nickel in Timmins District a) Shaw Dome Nickel Potential b) Current Nickel Resources c) Kambalda Type Ni Deposits – Ore Model

TSX: NSC 24

10 km

McWatters Redstone Hart

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1a) Shaw Dome Nickel Potential

Hart Deposit Oblique View NW Surface to 580 m Red Block is Iron Formation Redstone Mine View NW Surface to 2200m

Large Property Portfolio in Shaw Dome area covers 11,570 Ha

TSX: NSC 25

Deposit Reserve / Resource Category Tonnes Grade (Ni%) Contained Ni (Lbs) Hart Resource Indicated Inferred 1,546,000 322,000 1.40% 1.27% 47,716,860 9,015,585 Redstone Reserve Proven & Probable 50,252 1.48% 1,644,248 Resource Inferred 737,000 1.57% 25,509,472

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1b) Current Nickel Resources

• Resources at Hart and Redstone remain open at depth
• Mines permitted but closed pending higher, long-term Nickel prices (>US$9.00/lb)
• Nickel Deposits fit the Kambalda Deposit model
• Located at intersections of Sulphide Iron Formation with Ultramafic Flows
• Similar to Archean Kambalda & Windarra Ni Deposits in Western Australia
• Shaw Dome has demonstrated potential for further Ni discoveries

TSX: NSC 26 26

1c) Kambalda Type Ni Deposits

TSX: NSC 27 27

End Notes

1. The Feasibility Study dated December 14, 2010 entitled "Technical Report NI 43-101 Feasibility Study, Snow Lake Mine Re-activation Project", was prepared for QMX as an independent 43-101 technical report and is available under QMX's company profile on www.sedar.com. The Feasibility Study was compiled by Andre Roy,

• Eng. Manager Mines 8 Geology (Abitibi), Genivar, an independent Qualified Person as defined pursuant to NI

43-101. 2. Compilation from multiple sources (past production + reserves, 2002): Robert, F. (1996), Hodgson, C.J., (1993), Brisbin, D.I. (2000), GAC Special Paper 40, CIM Special Volume 43, Econ.Geol. vol.88, SEG Rev. in Econ. Geol., vol.8, GSC OF 3490, Agnico-Eagle 2002 Annual Report, Quebec Natural Resources DV 85-08, DV 87-01, DV 89-01, DV 93-01, DV 94-01, DV 95-01, DV 96-01, DV 97-01, DV 98-01, DV 2002-10, MB 96-06, MM 89-04, MM91-01, MM 91-03. These results are historical in nature and are based upon internal compilations of various studies completed by management of the Company. Readers are cautioned that they should not put any undue reliance upon such estimates.