Sixty North Gold Provides Mon Gold Mine Update and Announces Non-Brokered Unit Offering

Executive Summary

• Sixty North Gold announced a non‑brokered financing of up to 5,250,000 units at $0.06 per unit, targeting gross proceeds of up to $315,000, which was fully subscribed.
• The company plans to restart production at the Mon Gold Mine with a 100 tpd gold mill slated for commissioning in summer 2026, having already invested >$9 M in mine development.
• Proceeds from the financing will fund further exploration and development of the Mon Gold Property and general working capital.

Key Details

• Financing Structure: Up to 5,250,000 units; each unit = 1 common share + ½ warrant.
• Offering Price & Gross Proceeds: $0.06 per unit; total gross proceeds up to $315,000.
• Warrant Terms: Each warrant exercisable at C$0.10 for 12 months from closing; if the market price exceeds $0.15 for ten consecutive trading days, a notice may be delivered requiring exercise within 30 days, otherwise expiry occurs on day 31 after notice.
• Resale Restriction: Securities bear a legend prohibiting resale for four months post‑closing.
• Use of Proceeds: Exploration and development of the Mon Gold Property (NWT) and general working capital.
• Operational Update: Company has invested >$9 M in equipment, camps, supplies, and development to the second level below historic stopes that historically graded ~1 oz Au/t.
• Production Plan: Commission a 100 tpd gold mine and gravity‑flotation mill in summer 2026.
• Historical Production: Mon Mine previously extracted ~15,000 t of ore (~15,000 oz Au) in the 1990s.
• Location Context: Situated on the Yellowknife Gold Belt, which hosts multiple high‑grade gold mines (e.g., Discovery Mine, Con Mine).

Notable Quotes

“Sixty North Gold Mining Ltd. plans to commission a 100 tpd gold mine and mill in the summer of 2026… We believe that restarting this historic one ounce per tonne past producer will allow our shareholders to benefit directly in the gold market in this time of record prices.” – Dr. Dave Webb, President & CEO