NORTHERN STAR RESOURCES LTD — Major Shareholding Notification 2017

Mar 21, 2017

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Northern Star Resources Ltd
ACN/ARSN	092 832 892
Details of substantial holder (1) 1. Name	Van Eck Associates Corporation (and its associates referred to in paragraph 6).
ACN/ARSN (if applicable)	N/A
There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated	17/03/2017 22/09/2016 21/09/2016

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary shares	40.430.921	6.73%	47.722.735	7.95%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	Van Eck Associates Corporation (VEAC) See Annexure A

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered	Person entitled	Nature of	Class and	Person's votes
relevant	holder of	to be registered	relevant	number of
interest	securities	as holder (8)	interest (6)	securities
VEAC	IJP Morgan as lcustodian for VanEck lVectors S&P/ASX Franked Dividend ETF (FDIV.AU)	VanEck Vectors IS&P/ASX Franked Dividend ETF	IVEAC holds its relevant interest by having the power to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities Ito which the relevant linterest relates in the ordinary course of linvestment management lbusīness.	Ordinary shares 8.893	0.00%

VEAC	Bank of New York Mellon as custodian for VanEck Vectors Gold Miners ETF	VanEck Vectors Gold Same as above. Miners ETF (GDX)		Ordinary shares 41,458,856	6.90%
VEAC	State Street Bank as custodian for VanEck International Investors	VanEck International Investors Gold Fund $\vert$ (IIG)	Same as above.	Ordinary shares 3,909,000	0.65%
VEAC	Gold Fund JPMorgan as	Jackson National/Van Same as above.		Ordinary shares	0.07%
	custodian for Jackson National	Eck International Fund (JLGOLD)		405,000
VEAC	Northern Trust as custodian for Lockheed Martin Corporation Master Retirement Trust	Lockheed Martin Junior Gold (LM)	Same as above.	Ordinary shares 215,000	0.04%
VEAC	Credit Agricole as custodian for LODH Invest - The World Gold Expertise Fund	LODH Invest - The World Gold Expertise Fund (LODH)	Same as above.	Ordinary shares 631,000	0.11%
VEAC	Bank of New York Mellon as custodian for VanEck Vectors S&P/ASX Midcap ETF	VanEck Vectors S&P/ASX Midcap ETF (MVE.AU)	Same as above.	Ordinary shares 84,509	0.01%
VEAC	Bank of New York Mellon as custodian for VanEck Vectors Australian Resources ETF	VanEck Vectors Australian Resources ETF (MVR.AU)	Same as above.	Ordinary shares 185,941	0.03%
VEAC	Bank of New York Mellon as custodian for VanEck Vectors Small Cap Dividend Payers ETF	VanEck Vectors Small Cap Dividend Payers ETF (MVS.AU)	Same as above.	Ordinary shares 304,965	0.05%
VEAC	Bank of New York Mellon as custodian for VanEck Vectors Gold Miners UCITS ETF	VanEck Vectors Gold Same as above. Miners UCITS ETF (UCTGDX)		Ordinary shares 397,971	0.07%
VEAC	State Street Bank as custodian for Van Eck VIP Global Gold VIP Trust - VIP Global (VGOLD) Gold	Van Eck VIP Trust -	Same as above.	Ordinary shares 121,600	0.02%

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and applicable)	ACN/ARSN	(if	Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
NEAC	666 Third Avenue, New York, NY 10017
Van Eck Securities Corporation	666 Third Avenue, New York, NY 10017
Van Eck Absolute Return Advisers, Inc.	666 Third Avenue, New York, NY 10017
VanEck Australia Pty Ltd	Level 4 Aurora Place, 88 Phillip Street, Sydney NSW 2000
VanEck Investments Limited	Level 4 Aurora Place, 88 Phillip Street, Sydney NSW 2000

Signature

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and
  trustee of an equity trust), the names could be included in an ann $(1)$ they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• Include details of: $(6)$
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $(a)$ of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the $(b)$ securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, $(7)$ become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• $(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

GUIDE

This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.

Signature		This form must be signed by either a director or a secretary of the substantial holder.
Lodging period	Nil
Lodging Fee	Nil
Other forms to be completed	Nil
Additional information	(a)	If additional space is required to complete a question, the information may be included on a separate piece of paper annexed to the form.
	(b)	This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme, A copy of this notice must also be given to each relevant securities exchange.
	(c)	The person must give a copy of this notice:
		(1) within 2 business days after they become aware of the information; or
		by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the (ii) information if:
		a takeover bid is made for voting shares in the company or voting interests in the scheme; and (A)
		(B) the person becomes aware of the information during the bid period.
Annexures		To make any annexure conform to the regulations, you must
	1.	use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides
	2	show the corporation name and A.C.N or ARBN
	3	number the pages consecutively
	4	print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied
	5	identify the annexure with a mark such as A, B, C, etc.
	6	endorse the annexure with the words: This is annexure (mark) of (number) pages referred to in form (form number and title)
	7	sign and date the annexure.
		The annexure must be signed by the same person(s) who signed the form.

Holder of relevant			Consideration	Consideration
interest	Date of Acquisition	B/S	Cash	Non-Cash	Number of Securities
GDX	11/18/2016 S			In-Kind	147,600
GDX	11/21/2016 S			In-Kind	16,396
GDX	11/28/2016 S			In-Kind	225,500
GDX	11/29/2016 S			In-Kind	143,500
GDX	12/02/2016B			In-Kind	516,726
GDX	12/05/2016 B			In-Kind	82,020
GDX	12/13/2016B			In-Kind	45,111
GDX	12/14/2016 B			In-Kind	328,160
GDX	12/15/2016B			In-Kind	94,346
GDX	12/16/2016 S		7,439,317.83		2,497,329
GDX	12/19/2016S			In-Kind	11,514
GDX	12/22/2016 B			In-Kind	130,050
GDX	12/28/2016B			In-Kind	573,750
GDX	01/03/2017 B			In-Kind	229,500
GDX	01/04/2017 S			In-Kind	19,125
GDX	01/05/2017 B			In-Kind	573,750
GDX	01/09/2017B			In-Kind	84,150
GDX	01/10/2017S			In-Kind	612,000
GDX	01/17/2017B			In-Kind	95,625
GDX	01/23/2017 B			In-Kind	325,040
GDX	01/26/2017 S			In-Kind	122,368
GDX	01/31/2017 S			In-Kind	191,200
GDX	02/01/2017 S			In-Kind	22,944
GDX	02/07/2017B			In-Kind	61,184
GDX	02/09/2017 B			In-Kind	130,016
GDX	02/10/2017B			In-Kind	122,368
GDX	02/13/2017B			In-Kind	439,760
GDX	02/15/2017B			In-Kind	114,690
GDX	02/16/2017B			In-Kind	382,300
GDX	02/22/2017 B			In-Kind	573,450
GDX	02/23/2017B			In-Kind	198,796
GDX	02/24/2017B			In-Kind	401,415
GDX	02/27/2017 B			In-Kind	145,312
GDX	02/28/2017 S			In-Kind	19,125
GDX	03/02/2017 S			In-Kind	275,400
GDX	03/03/2017B			In-Kind	191,450
GDX	03/06/2017 S			In-Kind	164,647
GDX	03/08/2017 B			In-Kind	413,748
GDX	03/10/2017B			In-Kind	536,480
GDX	03/14/2017 S			In-Kind	356,190
GDX	03/15/2017 B			In-Kind	199,264
GDX	03/17/2017 B		10,925,700.72		2,613,804
IIG	12/21/2016 S		734,308.96		237,000

This is Annexure A of 2 pages referred to in Form 604 - Notice of change of interests of substantial holder.

$4\tau$

i.

Number of Securities
56,000
37,000
36,000
12,000
22,000
7,000
14,000
43
5,173
31,324
107
16
688
481
32,800
90,200
465
491
961
802
8,305
8,305
21,663
642
330
7,819
893
118
172
605
138
3,694
26,753
7,958
20,006
14,790
2,819
464
24,119
770
4,870 222
13,535

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

$P_1$ Page 2 of 3

Holder of relevant			Consideration	Consideration
interest	Date of Acquisition	B/S	Cash	Non-Cash	Number of Securities
MVSAU	02/22/2017 B		2,904.26		669
MVSAU	03/01/2017 B		2,978.54		721
MVSAU	03/02/2017 B			In-Kind	13,597
MVSAU	03/07/2017 B		3,996.74		1,009
MVSAU	03/15/2017 B		1,869.50		478
MVSAU	03/16/2017 B			In-Kind	13,668
MVSAU	03/17/2017 S		96,598.30		23,116
FDIVAU	11/25/2016 S		21.77
FDIVAU	01/17/2017 S		223.93		56
FDIVAU	01/31/2017 B		5,689.89		1,493
FDIVAU	02/07/2017 B		42.71		10
FDIVAU	02/22/2017 B		169.30		39
FDIVAU	02/24/2017 S		39.86		9
FDIVAU	03/02/2017 B		189.05		45
FDIVAU	03/08/2017 B		89.03		23
In-Kind transactions result from FDIVAU receiving a basket of securities (including NORTHERN STAR RESOURCES LTD) in exchange for securities in FDIVAU.

$\Lambda$

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

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