Investor Presentation March 2012

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Forward Looking StatementsThis 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 43-101 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 43-101 technical reports* for the Garrcon Gold Project, which may be found under NGM’s profile on www.sedar.com.

Note: The October 2009, September 2010 and June 2011 resource update, which also contained a Preliminary Economic Assessment (PEA), are all National Instrument 43-101 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.

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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 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), 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.

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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 43-101 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 GoldProject

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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-McIntyreTimmins71 Moz

North Gate

Kirkland Lake47Moz

DomeParmour

Black Fox

WahgoshigFirst Nation

MatachewanKerr Addison

Holloway

Doyon Bousquet

Sigma-Lamaque

MalarticMalartic

9 Moz

Rouyn-Noranda19 Moz

Cadillac18 Moz

Val d’Or28 Moz

Ontario Quebec

Garrison GoldProperty

Gold Deposits > 3.0M oz.Gold Deposits < 3.0M oz.

Garrison Gold Property

Town

Major FaultsMunro Fault

Larker Lake-Cadillac Fault

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Capital StructureCorporate Data at Feb 29th, 2012

TSX Venture Symbol NGM

Share Price (Feb 15th) C$0.28

Share Price (52 Week Range)

C$0.17- C$0.64

Basic Shares Outstanding 155 million

Fully Diluted Shares 180 million

Cash C$6.5 million

Debt $0

Market Capitalization C$43 million

Developing Institutional Shareholder Base

Sprott Asset Management, Dundee Resources

Garrison Property Drill & Zone Plan

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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

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Continuity of Mineralization

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Garrcon Deposit

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Hole ID Length (m) Au Grade (g/t)

GAR-10-16 169.0 1.17

GAR-10-19 10.0 5.0

GAR-10-42 209.0 1.44

GAR-10-46 284.0 1.62

GAR-11-59 102.0 1.00

GAR-11-71A 66.0 1.94

GAR-11-78 44.0 1.98

GAR-11-130 55.0 1.19

GAR-11-114 (interval 194m-241m) 47.0 2.10

GAR-11-114 (interval 313m-463.6m) 150.0 1.24

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, 2011

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Longitudinal Section of Garrcon Deposit

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Evolution of Resource Estimate

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Indicated Resources Inferred Resources

144,000 ounces

3,780,000 tonnes

1.2 grams/tonne

530,000 ounces

18,500,000 tonnes

0.9 grams/tonne

Indicated Resources Inferred 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

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Garrcon Deposit Block Model and Pit

Preliminary Economic Assessment Highlights

In Pit Ounces:High Grade Ounces (0.3g/t cutoff): 960,000 ounces @ 0.91 g/tonneLow Grade Ounces (0.2g/t cutoff): 80,000 ounces @ 0.76 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

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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 2012

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Upside Potential

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Further Upside Potential

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Historic Jonpol Gold Deposit

In 1996-1997 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

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Hyperspectral ImagingCore 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 1500-2000 meters of

core per week

Drill Core Mapping/Logging to identify lithology and alteration associated with Gold

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Social and Environmental Responsibility Practice

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

EnvironmentalConsiderations 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

Q1 2012

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

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2012 2013 2014 2015

1. Environmental Background Studies2. Environmental Background Studies

Production PermittingMill & Facilities Siting Studies

Condemnation DrillingMetallurgical Testing

Feasibility & Pit DesignMill & Facilities Construction

Mine DevelopmentProduction

Permitting for ExpansionFeasibility For Expansion and Pit Design

Garrcon DepositInfill and Definition Drilling

'Stepout & Infill Drilling to the EastStepout 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 ZoneScanning/Re-logging & Assaying of Existing Core

'Preliminary Metallurgical TestingMetallurgical Testing

Jonpol DepositScanning/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

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Continuing Story of GrowthResource Growth on the Garrison Property

Indicated and Inferred Oz Au

JonPolIndicated:63,000Inferred:247,000

JonPolIndicated:63,000Inferred:247,000

JonPolIndicated:63,000Inferred:247,000

GarrconIndicated: 720,000

Inferred: 430,000

GarrconIndicated: 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

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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 MeterDrilled:

@Dec 31st, 2011

Total Exploration Costs Overall/Meter Drilled: $202.24 Direct Cost Categories/Meter Drilled:

Diamond Drilling $88.05

DD + Assaying $122.12DD + Assay + Field Labour $143.08

Ditto + Field Equipment & Supplies $154.52

Meters Drilled from Oct. 2009

@ Jun

2011

@ Sep

2011

@ Dec 2011

26,761 37,479 56,143

Acquisition $/oz Resource

Garrcon

At Sept 30, 2011 $6.97

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Significant Drilling/Assaying Statistics

Data Since Drilling Commenced in May 2010 to October 2011Total Drill Holes Drilled 106Total Holes with No Significant Results 5Percent Success 95.3%

Number of Drill Holes Intercepts By g/tDrill Intercepts >0.5 & <1.0 >1.0 & <2.0 >2.0 & <3.0 >3.0

Intercepts Longer Than 25 M and Less Than 50 M 7 6 1 1

Intercepts Longer Than 50 M and Less Than 100 M 12 13

Intercepts Longer Than 100 M and Less Than 200 M 8 3

Intercepts Longer Than 200 M and Less Than 300 M 11 3 1

Intercepts Longer Than 300 M 7

Depth drilled 100 Meters+ 200 Meters+Significant downhole intercepts greater than 0.3g/t Au found in 41 holes 11 30

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A Solid Story

Garrcon is open on strike, at depth and north to Jonpol East Zone95% drill success rate for 106 holes drilled over 18 months - May 2010 to Oct 2011.

Resource Estimate doubled every 9 monthsLow cost explorer

RESOURCE EXPANSION POTENTIAL

A centrally located, surface Gold resource in the historic Timmins/Kirkland Lake Gold Mining DistrictClose to operating St. Andrew Goldfields’ Holloway Mines and Brigus’ Black Fox MineAn excellent land package, with infrastructure and qualified labour force

STRATEGIC LOCATION AND INFRASTRUCTURE

Skilled team with proven geology, mine start-up and mine operations experienceSignificant public market and financing experience

MANAGEMENTEXPERIENCE

Low Cost Explorer

Large Tonnage

Open Pit Mineable

Continuity of

Mineraliza-tion

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Management

Martin R. Shefsky President & CEO, Director

Eric E. V. SzustakC.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. LaxtonChief 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

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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 CulhaneDirector

• 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

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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.

www.northerngold.ca