Northstar and Novamera Execute Definitive Surgical Mining Services Agreement to Advance Cam Copper Project Evaluation

Executive Summary

• Northstar Gold Corp. signed a Surgical Mining Services Agreement with Novamera Inc. to deploy Turnkey Surgical Mining™ technology at the Cam Copper Project’s Zone 2.
• The agreement envisions extraction of up to 116,000 t of high‑grade copper material using 93 holes over ~31 months, with an upfront advance payment of US $1.535 million from Northstar.
• Novamera will be compensated via a variable tonnage rate, monthly service fee and a potential 5% Net Smelter Return (NSR) revenue share if the pilot proceeds to production.

Key Details

• Agreement Scope: Deployment of Novamera’s proprietary Turnkey Surgical Mining solution on near‑surface, high‑grade Zone 2 VMS horizon at Cam Copper.
• Target Extraction: Conceptual 116,000 t of material; 93 extraction holes; estimated 31‑month execution period.
• Advance Payment: US $1.535 million payable by Northstar in staged installments upon meeting permitting and financing conditions.
• Compensation Framework (if project proceeds):
• Variable tonnage‑based rate plus monthly service fee.
• Potential 5% NSR revenue share on future production from material extracted with the Turnkey Solution.
• Right of First Refusal: Novamera holds a five‑year right of first refusal to apply its technology to other Miller and Boston Creek area deposits deemed suitable.
• Financing Strategy: Northstar plans to fund CAPEX and OPEX through non‑dilutive advanced royalty financing, government grants, offtake agreements, service‑provider partnerships, and equity private placements; details forthcoming.
• Exploration Target (conceptual): 75,000–140,000 t at 9%–18% Cu (average 12% Cu) for Zone 2 – disclosed as a non‑resource, indicative of high‑grade potential.
• Technical Work: Project to move toward issuance of a Notice‑to‑Proceed pending permits and financing; NI 43‑101 Technical Report and Mineral Resource Estimate to be commissioned.
• Management Commentary: CEO Brian P. Fowler highlighted the agreement as a “key milestone” for low‑impact, cost‑effective copper extraction; Novamera CEO Jim Hollis emphasized rapid, sustainable cash‑flow generation via precision mining.

Notable Quotes

“Executing this Agreement with Novamera marks a key milestone in our effort to apply Surgical Mining to provide a low‑impact, cost‑effective path to evaluate and potentially extract high‑grade copper at Cam Copper.” – Brian P. Fowler, President & CEO, Northstar Gold Corp.

“We are excited to work with the Northstar team to help them unlock cash flow using our precision mining technology at Cam Copper.” – Jim Hollis, CEO, Novamera Inc.