55 North Mining to Initiate LiDAR Survey and Winter Drilling at Last Hope Gold Project

Executive Summary

• 55 North Mining will conduct a detailed airborne LiDAR survey of its Last Hope Gold Project, started on Oct 16 2025.
• The high‑resolution topographic data will be used to refine geological models, improve drill targeting and support winter access logistics.
• The company plans an initial winter drilling program of 8 fences (2 holes per fence) at ~120 m spacing, with drilling rates of 6–8 holes/month and total all‑in drilling costs estimated at ~$250 per metre.

Key Details

• LiDAR Survey: Airborne LiDAR commenced Oct 16 2025; provides high‑resolution 3D terrain data for the entire Last Hope Project area in Manitoba.
• Purpose of Survey: Enhance geological interpretation, optimize drill hole placement, and aid winter access/logistics planning.
• Planned Drilling Program:
• Initial phase: 8 fences, 2 holes per fence (total 16 holes).
• Fence spacing: nominal 120 m centre‑to‑centre.
• Expected drilling rate: 6–8 holes per month.
• Winter operations to conclude by late March 2026.
• Cost Estimate: All‑in drilling cost of approximately US$250 per metre, inclusive of mobilization, supervision, assay and logistics.
• CEO Comment (Bruce Reid): Emphasized that the LiDAR program is a “key step” for efficient, well‑targeted winter drilling and for extending known mineralized zones through a data‑driven approach.

Notable Quotes

“This LiDAR program is a key step in positioning us for an efficient and well‑targeted winter drill campaign. The enhanced topographic detail will help us identify subtle geological features that may control gold mineralization.” – Bruce Reid, CEO