DOTZ NANO LIMITED — Capital/Financing Update 2014

Sep 17, 2014

ASX ANNOUNCEMENT 18 September 2014 by e-lodgement

Sydvaranger Gruve AS – Amendment to Customer Offtake Agreement

Northern Iron Limited (“NFE” or “the Company”) is pleased to announce its wholly owned Norwegian subsidiary, Sydvaranger Gruve AS (“Sydvaranger”), has amended its offtake agreement with its largest customer regarding the supply of iron ore concentrate from its mining operation in northern Norway.

Under the terms of the amended agreement, Sydvaranger will supply additional volumes to its customer with pricing applied to all tonnage sold during the period from 1 July 2014 to 31 March 2015 at levels similar to spot pricing arrangements, which will result in an improvement to the average realized price Sydvaranger could otherwise achieve. The deferral of the previously agreed contract pricing will be repayable as a discount per tonne should the iron ore market pricing environment improve materially, or else at the end of the offtake contract term.

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