1. BARSELE, SWEDEN 2. STORA SAHAVAARA, SWEDEN

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1 STOCK - NORTHLAND RESOURCES TICKER - NAU.V 52 WEEK RANGE - HIGH LOW SHARES OUTSTANDING - BASIC - 83,806,993 - DILUTED - 91,071,993 MARKET CAPITALIZATION 370 Million Star Rating --- ** PROPERTIES 1. BARSELE, SWEDEN Northland has produced two N resource report calculations. The most recent report, published in March/06, estimates that the Barsele property contains a significant gold resource of indicated 367,749 ounces of gold and an inferred resource of 398,630 ounces with a.8 g/t cut off. At a.7 g/t cut off, the resource increases to indicated 393,324 ounces of gold with an inferred resource of 437,041 ounces of gold. Further drilling is planned and the company is hopeful of confirming a resource of approximately 1 million ounces of gold. On March 21/07, the company announced drill results from 17 diamond holes. The results indicate broad intersections of greater than 1 g/t Au within the central zone and have begun to outline a new zone of high grade gold adjacent to and outside the central zone gold system. Results were as high as 6.6 g/t Au over 4 meters from 39 meters down hole and 500 g/t Ag over and 2.8% Zn over 5 meters from 24 meters down hole. On June 26, 2007, the Chief Mine Inspector of Sweden granted exploitation concessions for the Barsele project to Northland amongst others. Granting of the exploitation concessions is valid for 25 years and is subject to a standard consultation and appeals process to all interested stakeholders. 2. STORA SAHAVAARA, SWEDEN In May/06, Northland published its first N compliant report with respect to this property. The report indicates a significant iron ore resource comparable or superior in grade levels to an existing producing iron ore mine some 150 km. distant from this property. Further testing and studies are scheduled in 2006 and 2007 to delineate and assess the economic options of exploiting this resource. On Feb. 15/07, Northland announced in a press release that they had received very encouraging results from recent bench scale pelletizing test work. Magnetite concentrate was made from a single magnetic separation of crushed and ground Stora Sahavaara drill core and the magnetite concentrate was then palletized, producing a commercial quality pellet. The pellet grade was 63.8% Fe and the concentrates of iron, sulfur, silica, P205 and MgO are all within commercially acceptable limits for iron ore pellets. Further encouraging results were released on March 26/07 from 4 new drill holes. High results were 47.2% Fe and.10%cu and low results were 41.8% Fe and.04% Cu.

2 3. TAPULI MAGNETITE DEPOSIT-KAUNISVAARA IRON ORE FIELD, SWEDEN On June 15, 2007, the company released excellent results from Northland s recent 33 drill hole program from this property which is located 5 km. north of Stora Sahavaara. Highlights of recent drilling include 4 drill holes with high grades of Fe ranging from 25% Fe to 41.4% Fe. The bulk of the remaining drill holes show values between 15% Fe to 42.5% Fe. 4. PALOTIEVA COPPER, GOLD PROSPECT, SWEDEN Palotieva Copper-Gold Prospect is 6 km. north-west of Stora Sahavaara. In 2006, assays at Palotieva returned copper grades from trace up to 11.8% Cu in bedrock drill chip samples. Till samples collected immediately above bedrock samples returned trace to 12.9% Cu. Gold results ranged from trace to 5.67 g/t Au in bedrock. Further drilling is planned for Spring/ LANNAVAARA AND SAARIJARVI, SWEDEN In Dec. /05, Northland reached agreement with Anglo American Exploration (AAE) for a joint venture into a group of 7 licenses in Sweden covering an area of 21,000 hectares. AAE has conducted some preliminary exploration and has identified some targets for possible iron oxide, copper, gold deposits. This property is in the early exploration stage at this time. 6. SALMIVAARA, SWEDEN On May 9, 2007, Northland announced that it had been granted an exploration permit covering the Salmivaara iron-copper deposit which is located approximately 33 km. northeast of Gallivare in Norbotten County, Sweden. Based on past drilling by the Swedish Geological Survey (SGU) from , the SGU estimated a resource of 16 million tones grading approx. 34% iron and.1% Cu locally with copper ranging up to.8% Cu. The body is within 1 km. of a sealed road and approx. 33 km. from a rail line that carries iron ore from Europe s second largest iron ore mine in Malmberget. 7. HANNUKAINEN IRON-COPPER-GOLD PROJECT, FINLAND The Hannukainen iron-copper-gold project was mined from an open pit during the 1980's and is reported to have produced 4.5 million tonnes at a grade of 43% Fe,.88% Cu and 1 g/t Au. Northland is exploring the potential for additional copper and gold mineralization within the magnetite resource.

3 2005 and 2006 drill programs returned numerous anomalous copper-gold intersections associated with a magnetite body. Further drilling is planned and Northland hopes to produce its' first N compliant resource report by the end of the first quarter, On Jan. 16/07, the company announced the results from 19 if 42 holes drilled. The company press release indicates that the results continue to confirm the presence of a significant copper-gold mineralization associated with a substantial magnetite body. On Feb. 27/07, Northland announced more favorable drilling results from the completion to its 2006 drilling program. Applying a 30% Fe cut off to all sample data collected, as at Feb.27/07, roughly 700 samples returned greater than 30% Fe. A weighted average of the Fe, Cu and gold grades for these samples is 46.3% Fe +.41% Cu + 35 g/t Au. Cu grades ranged from trace to a maximum of 6.8% Cu and Au ranged from trace to 31.8 g/t. 8. RAUTUVAARA IRON-COPPER-GOLD PROJECT, FINLAND The Rautuvaara iron-copper-gold project in Finland was mined underground in the 1980's and is reported to have produced 11.6 million tonnes at a grade to 46% Fe and.36% Cu. Northland has not done any drilling on this property but plans to do exploratory drilling over the next 12 months with a focus on ascertaining the potential for additional copper and gold mineralization within the magnetic resource. PEOPLE The management consists mainly of engineers and geologists with extensive experience in mineral exploration and mining development in the Americas, Asia and Europe. FINANCIALS In its' unaudited balance sheet - as of Oct.31/06 - the company showed a substantial cash balance of $50 million. Short term payables amounted to $4 million. The company claims no other debt. As with most juniors, the company has lost money the past few years - the loss for the 9 months prior to Oct.31/06 was $3 million. The cash was raised by sales of shares at a number of private and public placements. OVERVIEW This company is flush with cash, has no debt, experienced management and, according to N compliant reports, has at least two properties with substantial resources (one has gold and the other has iron ore) that are potentially mineable. Sweden and Finland contain minimal political risk. TECHNICAL ANALYSIS

4 This sucker has seen a HUGE break out to over 4.00 a share and over 5.00 for a bit. It is now due to consolidate, we have huge gains in it, time to take some profits. Opinions expressed in this publication do not necessarily represent those of the editor or publisher, who are neither responsible nor liable for investor decisions resulting from any published selections in this report. Nothing in this publication constitutes an offer, recommendation or solicitation to buy or sell any securities mentioned. Copyright 2006 Skarica Letter. Reproduction in whole or in part without permission is prohibited. All rights reserved. No part of this publication may be reproduced, stored in a special system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without prior permission of the publisher. This publication contains the opinions and ideas of its authors and editors and is designed to provide useful advice in regard to the subject matter covered. However, this publication is sold with the understanding that publishers, editors and authors are not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Those involved in this publication specifically disclaim any responsibility for liability, loss or risk, personal or otherwise, that is incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this publication. Notwithstanding anything to the contrary set forth herein, this publication s officers and employees,

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