Despite being at opposite ends of the table, the clubs couldn't be split in the 10.11 (71) to 10.11 (71) result in Hobart on Sunday night.
The lead changed hands multiple times in the final 10 minutes - the Kangaroos had the better of the opportunities to steal the win at the death, but couldn't land the killer blow.
Kangaroos forward Cameron Zurhaar had a tough shot from the boundary with his side down by one point with about 80 seconds left, but only managed a behind.
The Kangaroos then had a run inside 50 in the final minute, before Lions defender Jack Payne spoiled a potential mark.
North Melbourne had trailed 40-20 at the main break but fought their way back.
The result leaves them in second last place with just one win, despite promising showings in recent weeks, while the Lions jump back to the top of the table.
"Strange emotions when you have a draw," North Melbourne coach Alastair Clarkson said.
"They're probably saying 'we were up 20 points at halftime, how did we let that game slip?' (And) we got ourselves a goal up (in the last quarter).
"Over the course of the whole game we had our chances. Brisbane would be the same … but I feel we left five or six genuine goals on the park tonight."
Brisbane coach Chris Fagan said the mood was also strange in the Lions' sheds, but said the two competition points could prove valuable later in the season.
"I thought our blokes showed plenty of ticker to at least get some points out of the game," he said.
"We weren't at our best, but a lot of that had to do with our opposition."
The Lions lost Jarrod Berry in the first quarter when he was subbed out with concussion after a heavy collision with North Melbourne's Luke McDonald off the ball.
They appeared likely to run away with the contest after a run of goals at the back end of the second quarter.
But North, on a losing run of seven games against Brisbane, rallied to reduce the gap to 51-42 at the start of the final quarter.
North hit the lead with 10 minutes to play when Jacob Konstanty slotted a goal off a free kick.
However, Brisbane got themselves back in front through Zac Bailey after the Kangaroos were pinged for kicking in danger.
The scores were then tied at 70-70 when Brisbane's Cameron Raynor slotted a set shot with about five minutes left.
The visitors had their noses ahead when Eric Hipwood hit a behind with three minutes to go, before Zurhaar returned the favour with one point at the other end.
Raynor and Hipwood both kicked three goals for Brisbane, while Zurhaar and Jack Darling bagged two each for the Kangaroos.
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