TSXV: NSC $ 0.07 +0.00 +0% Volume: 3,500 April 22, 2017

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  • Northern Sun owns two former producing nickel mines and a large prospective land package in the Shaw Dome area, a prospective nickel belt near Timmins, Ontario
  • Northern Sun owns the Redstone Mill which has operated as the only nickel concentrator in this Region. The Mill was designed with two processing circuits which can operate in tandem at 1,500 tonnes per day (“tdp”), but with the flexibility to operate independently processing two difference ore types, each at 750 tpd.
  • In 2014, the Company re-opened the mill to offer toll milling services to a variety of deposits in the Timmins Camp. In March 2014, the Company entered into a definitive agreement with Wallbridge Mining Company Limited (“Wallbridge”) to provide for the custom milling of ore from Wallbridge’s Broken Hammer mine. The agreement is for approximately a one year term based on a minimum of 800 tonnes per day.
  • Northern Sun suspended its custom milling operations at its Redstone Mill in early November 2015. The ore body at the Wallbridge’s Broken Hammer deposit has been exhausted and Wallbridge ceased mining at the end of October 2015. Since July 2014, Northern Sun has been treating ore sourced from Wallbridge’s Broken Hammer deposit in Sudbury, Ontario. Since that time Northern Sun treated nearly 300,000 tonnes of ore. The original contract with Wallbridge was for 200,000 tonnes of ore. Northern Sun has placed its mine operations into care and maintenance since early November 2015.
  • On January 21, 2016, Northern Sun signed a definitive agreement (the “Arrangement”), subject to approval by shareholders and the TSX Venture Exchange (the “Exchange”) for the acquisition (“Acquisition”) by Regal Silver Investments Ltd. (“Purchaser”) of all of the common shares of Northern Sun (the “Shares”) not owned by Jien International Investment Ltd. (“JIIL”), which is the parent company that owns approximately 60% of Northern Sun’s common shares. Pursuant to the Arrangement, the Shares would be acquired for a cash consideration from all shareholders of the Northern Sun other than JIIL (the “Minority Shareholders”) through a court-approved plan of arrangement under the Business Corporations Act (Ontario) at a price of $0.05 per Share (revised to $0.07 per Share on March 24 ,2016). As of September 30, 2015, Northern Sun owed over $153,479,166 as secured debt to JIIL, which debt matured as of December 31, 2015. To facilitate the Arrangement and allow minority shareholders to receive $0.05 per Share from the Purchaser, JIIL agreed to extend the maturity date to December 31, 2016 and forgive any default or breach of such loans or other indebtedness owed by Northern Sun that may have occurred up to and including the date of the Arrangement. In the event the Arrangement is not completed, then the debts to JIIL will become immediately due and payable.
  • The Company held a special meeting of its shareholders (the “Meeting”) on March 24, 2016 and its shareholders approved the acquisition (“Acquisition”) by Regal Silver Investment Ltd. (“Purchaser”) of all of the common shares of Northern Sun (the “Shares”) not owned by Jien International Investment Ltd. (“JIIL”), which is the parent company that owns approximately 60% of Northern Sun’s common Shares. The Shares would be acquired for a cash consideration from all shareholders of the Northern Sun other than JIIL (the “Minority Shareholders”) through a court-approved plan of arrangement under the Business Corporations Act (Ontario) at a revised price of $0.07 per Share. Upon completion of the Acquisition, the Company would be delisted from the TSX Venture Exchange and would cease to be a reporting issuer.
  • The Acquisition was completed on March 27, 2016 and the Company was delisted from the TSX Venture Exchange and ceased to be a reporting issuer.

contact information

HEAD OFFICE

130 Adelaide St. W, Suite 3420
Toronto, ON
M5H 3P5
Phone: 647-494-3814
Fax: 647-494-3880
Email: info@northernsunmining.ca

REDSTONE MINE SITE

Box 5114
South Porcupine, ON
P0N 1H0
Phone: 750 240 6450
Fax: 705 240 6451