NORTHERN STAR RESOURCES LTD — Capital/Financing Update 2015

Sep 7, 2015

Market Announcement Enerji Ltd (ERJ) 8 September 2015

Enerji Project Update – Potential Expanded Scope at Northern Star’s Jundee Project

As announced on 11 May 2015, Enerji Limited (ASX: ERJ; “Enerji” or the “Company”), a technology company that harnesses waste heat from power and industrial processes to generate electricity, was mandated by Northern Star Resources Limited (ASX: NST; “Northern Star”) to assess and evaluate the viability of applying Enerji’s unique Hybrid HT Accretive Thermal Energy Node (ATEN) technology to the diesel and gas-fired power generators at NST’s Jundee Project, to provide low-cost, zero-emission electricity.

In July 2015, after the initial period of assessment, Enerji determined that its Hybrid HT technology was applicable to the Jundee Project and that it satisfied Enerji’s investment criteria. Enerji has since been working closely with Northern Star to complete its project evaluation.

Following its Resource-Reserve Upgrade announcement on 4 August 2015, Northern Star is assessing the potential increased power requirements at Jundee. Enerji’s mandated analysis and evaluation will continue once NST’s expanded scope assessment concludes. If NST does progress and commit to host, supply waste heat to and procure power from Enerji at Jundee, it is possible that NST would do so on a larger scale than was initially anticipated in May 2015.

“Northern Star is excited about the potential growth at Jundee and as such we have implemented a more comprehensive analysis of our power requirements going forward. Enerji has proved to be a valuable source of information given their experience in the sector and their unique technology is of interest to us,” said Stuart Tonkin, Northern Star’s Chief Operating Officer.

If the outcomes of Enerji’s evaluation and analysis phases are received positively by Enerji and Northern Star then, subject to a decision by Northern Star to proceed, the execution of legally binding documentation and the satisfaction of various conditions, Enerji would provide its low-cost electricity at Jundee, with the potential for further roll-out of its technology across other mining projects.

ENDS

Suite 22, 513 Hay St T +61 8 9430 7522 info@enerji.com.au page 1 Subiaco, WA, 6008 F +61 8 9430 7522 www.enerji.com.au

Enerji Ltd ABN 62 009 423 189

Further information:

Andrew Vlahov John Gardner Chief Executive Officer Citadel-MAGNUS Enerji Ltd +61 413 355 997 or +61 8 9430 7522 +61 8 6160 4901

About Enerji

Enerji is a thermal energy company that harnesses waste heat from power generation and industrial processes to generate electricity. Through its unique Accretive Thermal Energy Node (ATEN) technology, it converts heat into electricity without using any additional fuel or creating any additional emissions.

ATEN captures heat from a range of current energy sources, such as gas-fired and diesel, and simultaneously conditions it for use in a single heat-to-power system. This feeds into their energy customers’ electricity supply to reduce their overall energy cost-base.

Enerji’s different ATEN systems have been developed with a compact, standardised design, suitable for prefabricated, modular manufacture, removing the need for costly bespoke infrastructure. By reducing project complexity, time and cost, ATEN has the potential to significantly disrupt and ultimately grow the heat-to-power market.

www.enerji.com.au