Investor Presentation March 2012

2 Forward Looking Statements This presentation contains "forward-looking information" (also referred to as "forward looking statements") which may include, but are not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, the future price of metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, costs and timing of future exploration, the timing of the development of new deposits, requirements for additional capital, foreign exchange risk, government regulation of mining and exploration operations, environmental risks, reclamation expenses, title disputes or claims, insurance coverage and regulatory matters. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information involves and is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities and feasibility studies; assumptions in economic evaluations which prove to be inaccurate; fluctuations in the value of the United States dollar and the Canadian dollar relative to each other; future prices of metals; possible variations of ore grade or recovery rates; accidents, labour disputes or slow downs and other risks of the mining industry; climatic conditions; political instability, insurrection or war; arbitrary decisions by governmental authorities; delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this presentation and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward- looking information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. Accordingly, readers should not place undue reliance on forward-looking statements. Michael P. Gross, P.Geo., Vice-President Exploration of Northern Gold Mining Inc. (“NGM”), a qualified person as defined by National Instrument of the Canadian Securities Administrators, has reviewed and verified the technical information contained in this presentation regarding NGM’s properties. Certain of the technical information in this presentation is taken from three NI technical reports* for the Garrcon Gold Project, which may be found under NGM’s profile on Note: The October 2009, September 2010 and June 2011 resource update, which also contained a Preliminary Economic Assessment (PEA), are all National Instrument Reports that were independently prepared by A.C.A. Howe International Limited (“Howe”) of Toronto and posted by the Company on SEDAR. All monetary amounts herein refer to Canadian dollars unless otherwise specified.

3 Information Concerning Estimates of Mineral Reserves and Resources Standards of Disclosure for Mineral Projects The mineral resource estimates reported in this presentation were prepared in accordance with Canadian National Instrument Standards of Disclosure for Mineral Projects (“NI ”), as required by Canadian securities regulatory authorities. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, “inferred” mineral resources have an amount of uncertainty as to their existence and an uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources.

4 Garrison Gold Project hosts two key Gold deposits located in the Abitibi Greenstone Belt, 100 Km east of Timmins, Ontario Garrison Gold Project – Our Value Proposition Garrcon and Jonpol Deposits Two NI compliant resource estimates for the Garrison Project including a Preliminary Economic Assessment (PEA) for Garrcon Low cost explorer Excellent land package for expanded exploration, infrastructure and development of future open pit mine Timmins Kirkland Lake Toronto Val D’or Garrison Gold Project

5 A 100 Year History of Prolific Canadian Gold Mining The Garrison Gold Property is located along the Porcupine-Destor and Munro Fault zone in the Timmins-Kirkland Lake Gold District, a region with historic production dating from the early 1900’s of over 200 million Au ounces. Hollinger-McIntyre Timmins 71 Moz North Gate Kirkland Lake 47Moz Dome Parmour Black Fox Wahgoshig First Nation Matachewan Kerr Addison Holloway Doyon Bousquet Sigma-Lamaque Malartic 9 Moz Rouyn-Noranda 19 Moz Cadillac 18 Moz Val d’Or 28 Moz Ontario Quebec Garrison Gold Property Gold Deposits > 3.0M oz. Gold Deposits < 3.0M oz. Garrison Gold Property Town Major Faults Munro Fault Larker Lake-Cadillac Fault

6 Capital Structure Corporate Data at Feb 29th, 2012 TSX Venture SymbolNGM Share Price (Feb 15th)C$0.28 Share Price (52 Week Range)C$0.17- C$0.64 Basic Shares Outstanding155 million Fully Diluted Shares180 million CashC$6.5 million Debt $0 Market CapitalizationC$43 million Developing Institutional Shareholder Base Sprott Asset Management, Dundee Resources

Garrison Property Drill & Zone Plan 7

Surface exposure, bulk mineable potential Quartz-carbonate vein stockwork in siliceous - meta sediments Resource footprint is 1.1km long by 300m wide Open to east, west, at depth and to the north toward the Jonpol East Zone Aggressive 70,000+ meter drill program planned for 2012 Immediately adjacent to Highway 101. Nearby hydro-electric power, good water source Operating core shack facility Mines in proximity – St. Andrew Goldfields’ Harker-Holloway, Hislop, and Brigus’ Black Fox Surface exposure, bulk mineable potential Quartz-carbonate vein stockwork in siliceous - meta sediments Resource footprint is 1.1km long by 300m wide Open to east, west, at depth and to the north toward the Jonpol East Zone Aggressive 70,000+ meter drill program planned for 2012 Immediately adjacent to Highway 101. Nearby hydro-electric power, good water source Operating core shack facility Mines in proximity – St. Andrew Goldfields’ Harker-Holloway, Hislop, and Brigus’ Black Fox Garrcon Gold Deposit 8

Continuity of Mineralization 9

Garrcon Deposit 10 Hole IDLength (m)Au Grade (g/t) GAR GAR GAR GAR GAR GAR-11-71A GAR GAR GAR (interval 194m-241m) GAR (interval 313m-463.6m) Selected Drill Intercepts Across the Garrcon Deposit showing consistently long mineralized sections

Drill Hole Expansion A.C.A. Howe International Limited- Technical and Preliminary Economic Assessment – June 23,

Longitudinal Section of Garrcon Deposit 12

Evolution of Resource Estimate 13 Indicated ResourcesInferred Resources 144,000 ounces 3,780,000 tonnes 1.2 grams/tonne 530,000 ounces 18,500,000 tonnes 0.9 grams/tonne Indicated ResourcesInferred Resources 720,000 ounces 29,400,000 tonnes 0.9 grams/tonne 430,000 ounces 18,600,000 tonnes 0.8 grams/tonne September 2010 | cutoff = 0.5 g/tonne June 2011 | cutoff = 0.3 g/tonne

14 Garrcon Deposit Block Model and Pit

Preliminary Economic Assessment Highlights In Pit Ounces: High Grade Ounces (0.3g/t cutoff): 960, g/tonne Low Grade Ounces (0.2g/t cutoff): 80, g/tonne Annual Production: 130,000 oz./year Mine Life: 8+ years Cash Costs: $495 per ounce, life-of-mine Initial Capex: $156.3 million NPV: $265.9 million IRR: 47% after tax Payback: 2.2 years Average Annual Cash Flow $49.2 million Garrcon Deposit as at June 2011 – Gold Price US$1200 per ounce 15

Focus on Expanding Current focus on expanding known mineralization to depths of 500+ meters along strike 58 holes with 1.0 g/t over 50+ meters 4 Diamond Drills currently operating 70,000+ meter drilling program planned for

Upside Potential 17

Further Upside Potential 18

Historic Jonpol Gold Deposit In a 50,400 tonne bulk sample was mined with an average grade of 8.3g/t which produced 13,564 oz Au. 45,000 meters of unassayed core from 419 historical holes to be re-assayed Jonpol is closed* but existing ramp and shaft are preserved *in full compliance with regulations Sulfide-rich, HG, narrow vein in mafic, ultra-mafic rocks 19

Hyperspectral Imaging Core Mapper™ by Photonic Knowledge Represents a significant advance in logging and processing drill core when assessing gold mineralization on the property Output integrates with geological modeling, enabling 2D or 3D visualization Core Mapper™ used to map and identify mineralogical content of meters of core per week Drill Core Mapping/Logging to identify lithology and alteration associated with Gold 20

Social and Environmental Responsibility Practice 21 Social Actively working with neighbouring Wahgoshig First Nation Utilizing Wahgoshig as a preferred vendor Contractor Asinii Drill Co. has hired local band members Initiated IBA (Impact Benefits Agreement) discussions with Wahgoshig Plans to continue to provide jobs and training during mine development Environmental Considerations at all design and planning stages to optimize environmental processes Retained Blue Heron, Environmental Consultants to ensure mine development and planning will comply with environmental regulations Metallurgical testing is designed to reduce chemical footprint of the operation

Looking Forward – 2012 UPDATED RESOURCE ESTIMATE Q Garrison Project: Complete IBA agreement with Wahgoshig First Nation Aggressive drill program (infill and step out) targeting Jonpol East Zone and Garrcon Deposit Ongoing environmental monitoring in support of mine permitting Follow-up and detailed metallurgic test work Continued geochemical definition of resources (ARD) Geotechnical Engineering Mine Design 22

Environmental Background Studies 2. Environmental Background Studies Production Permitting Mill & Facilities Siting Studies Condemnation Drilling Metallurgical Testing Feasibility & Pit Design Mill & Facilities Construction Mine Development Production Permitting for Expansion Feasibility For Expansion and Pit Design Garrcon Deposit Infill and Definition Drilling 'Stepout & Infill Drilling to the East Stepout Drilling to the West Preliminary Economic Analysis Jonpol East Zone Infill (Garrcon Northerly Expansion) Stepout Drilling to the North Into Jonpol East Zone 'Infill Drilling In Jonpol East Zone Scanning/Re-logging & Assaying of Existing Core 'Preliminary Metallurgical Testing Metallurgical Testing Jonpol Deposit Scanning/Re-logging & Assaying of Existing Core 'Infill Drilling In HW of Jonpol RD, JP & JD Zones Preliminary Metallurgical Testing 'Metallurgical Testing Forward Looking Time Line 23

Continuing Story of Growth 24 Resource Growth on the Garrison Property Resource Growth on the Garrison Property JonPol Indicated: 63,000 Inferred: 247,000 JonPol Indicated: 63,000 Inferred: 247,000 JonPol Indicated: 63,000 Inferred: 247,000 Garrcon Indicated: 720,000 Inferred: 430,000 Garrcon Indicated: 144,000 Inferred: 530,000 1,459,000 oz 980,000 oz 300,000 oz 371% (Oct 2009 – Jun 2011) June 2011 Sep 2010 Oct 2009

Low Cost Explorer 25 Low Cost Per Ounce of Resource Developed on the Garrison Gold Project Cost Per Ounce Resource Garrcon w/o Acquisition At June 30, 2011$5.14 Exploration Costs Per Meter 31st, 2011 Total Exploration Costs Overall/Meter Drilled:$ Direct Cost Categories/ Meter Drilled: Diamond Drilling$88.05 DD + Assaying$ DD + Assay + Field Labour$ Ditto + Field Equipment & Supplies $ Meters Drilled from Oct. Jun Sep Dec ,761 37,479 56,143 Acquisition $/oz Resource Garrcon At Sept 30, 2011 $6.97

26 Significant Drilling/Assaying Statistics Data Since Drilling Commenced in May 2010 to October 2011 Total Drill Holes Drilled106 Total Holes with No Significant Results5 Percent Success95.3% Number of Drill Holes Intercepts By g/t Drill Intercepts>0.5 & <1.0>1.0 & <2.0>2.0 & <3.0>3.0 Intercepts Longer Than 25 M and Less Than 50 M7611 Intercepts Longer Than 50 M and Less Than 100 M1213 Intercepts Longer Than 100 M and Less Than 200 M83 Intercepts Longer Than 200 M and Less Than 300 M1131 Intercepts Longer Than 300 M7 Depth drilled 100 Meters+ 200 Meters+ Significant downhole intercepts greater than 0.3g/t Au found in 41 holes 1130

27 A Solid Story Garrcon is open on strike, at depth and north to Jonpol East Zone 95% drill success rate for 106 holes drilled over 18 months - May 2010 to Oct Resource Estimate doubled every 9 months Low cost explorer RESOURCE EXPANSION POTENTIAL A centrally located, surface Gold resource in the historic Timmins/Kirkland Lake Gold Mining District Close to operating St. Andrew Goldfields’ Holloway Mines and Brigus’ Black Fox Mine An excellent land package, with infrastructure and qualified labour force STRATEGIC LOCATION AND INFRASTRUCTURE Skilled team with proven geology, mine start-up and mine operations experience Significant public market and financing experience MANAGEMENT EXPERIENCE Low Cost Explorer Large Tonnage Open Pit Mineable Continuity of Mineraliza- tion

28 Management Martin R. Shefsky President & CEO, Director Eric E. V. Szustak C.A., Chief Financial Officer Founder and Director of Northern Gold Mining Inc. Over 25 years in mineral exploration and brokerage industry Over 25 years in public accounting and brokerage industry Currently CFO of Castle Resources and Northern Gold Mining Inc. Michael P. Gross Vice President Exploration Heather A. Laxton Chief Governance Officer & Corporate Secretary Formerly at Hecla Mining, Exall and Royal Oak Over 42 years exploration, mining, mine operations and corporate management 15 years governance, corporate secretarial and securities regulation experience with a focus on the resource sector Experience with TSX, TSXV, NYSE- AMEX and London - AIM listed issuers

29 Board of Directors James C. Gervais, LGen (Ret’d), Chairman and Independent Director Retired from the Canadian Forces in 1993 as Commander of the Army Director SAMA Resources Inc., an international mineral company Eric M. Moeller Independent Director Registered Professional Geologist (RPG 374 SC) Principle, Nanoparticle Consultancy LLC Over 30 years of surface and underground mining experience Dennis H. Waddington Independent Director Professional Geoscientist (ON) 45 years within the mineral resource sector Financial consultant; gold and base metals exploration Patrick Culhane Director Over 20 years mineral exploration Independent geological contractor Former Ontario Provincial Police officer Nuno Brandolini Independent Director General Partner of Scorpion Capital Partners, L.P., Formerly with Lazard Frere, Solomon and Rosecliff Inc. Martin R. Shefsky President & CEO, Director Founder and Director of Northern Gold Mining Inc. Over 25 years in mineral exploration and brokerage industry

30 Northern Gold Mining Inc. is led by an expert team with the ability to create a high value mine out of low cost assets with the clear vision to maximize shareholder value.