Management Discussion and Analysis

December 31, 2021

The following Management’s Discussion and Analysis of the results of operations and financial position, prepared as of April 12, 2022 should be read in conjunction with the audited financial  statements of Northern Uranium Corp. for the year ended December 31, 2021, as well as the  audited financial statements for the year ended December 31, 2020 and the related  management discussion and analysis (the “annual MD&A”).  The audited financial statements for the year ended December 31, 2021 have been prepared in accordance with International Financial Reporting Standards (“IFRS”).

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