Northern Iron Corp. announced the signing of a non-binding Memorandum of Understanding with Ontario Iron Mining Inc. (OIMI). The MOU outlines how both firms will work together to bring the properties OIMI has agreed to purchase subject to satisfaction of certain conditions and the properties currently owned by NFE to the production stage. Both firms agree that they will benefit mutually from shared: rail, power supply and production facilities and have agreed under the MOU to cooperate as follows: Share capital costs to rebuild and update the rail, power and production facilities. Each firm will work towards mining iron ore from their wholly-owned properties however Northern Iron will manage mining, crushing and beneficiation at all the properties as they come into production. Ore from satellite properties will be processed at the Griffith property and processed into Hot Briquetted Iron (HBI) for export. OIMI will endeavour to fund the project's capital requirements from Asian investors and will manage the marketing of HBI to Asian markets where they already supply a number of state owned enterprises in China with iron ore.

Northern Iron Corp. reported the final assay results from the infill program on the Karas Property, Ear Falls, Northern Ontario. A total of 14 holes were drilled on the Karas property for a total of 4,498 metres as part of the program aimed at infill drilling and the testing of additional targets for the final mineral resource estimation on the property. Assays were performed at SGS Lakeview (Ontario) using an iron ore assay package (XRF7C6) including sulphur.

Northern Iron Corp. filed its Annual on Jan 28, 2013 for the period ending Sep 30, 2012. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.