DOTZ NANO LIMITED — Major Shareholding Notification 2012

Mar 15, 2012

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NORTHERN IRON LIMITED (ASX: “NFE” “Company”)

Sale of Shares in Northern Iron Limited by Tschudi Group

Northern Iron Limited notes that Tschudi Shipping Company AS (“Tschudi Group”) has sold 14 million shares in NFE, representing approximately 3.8% of NFE’s total shares on issue.

Tschudi Group has been NFE’s largest shareholder since the Company first listed on the ASX in 2007 and will continue to be the largest shareholder after this share sale.

Attached is a letter from Felix H. Tschudi, Chairman of Tschudi Group, received by NFE this evening. Mr Tschudi explains that the sale was in order to repay a short term facility, and confirms his commitment to the Company's continuing success and support for the strategic review currently being conducted by the company. Mr Tschudi also confirms that the Tschudi Group has no plans to sell any of its remaining c.20.3% of the total issued shares in NFE at this stage.

The Company notes that the strategic review process is continuing, and expected to be completed in mid-2012.

For and on behalf of the Board.

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John Sanderson Managing Director / CEO

For enquiries please contact:

John Sanderson Managing Director / CEO Ph: +47 9240 1251 John.Sanderson@northerniron.com.au

Tony Beckmand Chief Financial Officer Ph: +61 447 453 000 Antony.Beckmand@northerniron.com.au

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