55 North plans Last Hope drilling, resource estimate

Executive Summary

• 55 North Mining Inc. has announced the commencement of its 2026 winter exploration drill program at its 100%-owned Last Hope gold project in Manitoba, Canada.
• One drill rig is currently mobilized and on-site, with the program focused on stepout drilling to test for potential mineralization extensions to the southeast of the current resource and to refine the geological model.
• The company expects to release drill results approximately four to six weeks after completion, which will be integrated into an updated mineral resource estimate planned for later in 2026.

Key Details

• Project Location: Last Hope gold project, Manitoba, Canada (100% owned by 55 North Mining).
• Program Objective: Exploration drilling to test for potential extensions of mineralization to the southeast of the current mineral resource and to improve understanding of geological controls on mineralization.
• Current Status: One drill rig is currently mobilized and on site.
• Strategic Focus: Stepout drilling to support an updated geological model.
• Future Catalysts:
  • Drill Results: Expected approximately four to six weeks following completion of drilling, subject to laboratory turnaround times.
  • Updated Resource Estimate: Planned for later in 2026, integrating new drill results.
• Previous Resource Context: The previous mineral resource estimate was completed in September 2021, based on a US$1,650/oz gold price.
• Qualified Person: Peter Karelse, PGeo, Head of Exploration, has reviewed and approved the scientific and technical information. Note: He is not independent of the company.

Notable Quotes

• "We will focus on stepout drilling designed to test potential extensions of known mineralization and support an updated geological model. The results from this program will guide our plans for an updated mineral resource estimate later in 2026," said Bruce Reid, chief executive officer of 55 North Mining.