The following Management’s Discussion and Analysis of the results of operations and financial position, prepared as of April 16, 2021 should be read in conjunction with the audited financial statements of Northern Uranium Corp. for the year ended December 31, 2020, as well as the audited financial statements for the year ended December 31, 2019 and the related management discussion and analysis (the “annual MD&A”). The audited financial statements for the years ended December 31, 2020 have been prepared in accordance with International Financial Reporting Standards (“IFRS”). All amounts are expressed in Canadian dollars unless otherwise indicated.