55 North starts lidar survey at Last Hope project

Executive Summary

• 55 North Mining Inc. has initiated a detailed airborne lidar survey at its Last Hope gold project in Manitoba to refine geological interpretations and optimize drill targeting.
• The company plans to conduct a winter drilling campaign consisting of eight fences of two holes each (16 holes total), spaced at 120-metre centres, to expand the known mineralized footprint and test for strike extensions.
• Drilling is scheduled to run at a rate of six to eight holes per month, with the first phase expected to conclude by late March 2026, at an estimated all-in cost of $250 per metre.

Key Details

• Lidar Survey: Commenced on October 16, 2025; provides high-resolution topographic data to support structural analysis and drill hole location planning.
• Drilling Plan: Initial phase includes eight fences of two holes per fence, spaced at nominal 120-metre centres.
• Objective: Expand the known mineralized footprint and test for potential extensions along strike.
• Schedule: Drilling rate of 6–8 holes per month; first phase winter operations to conclude by late March 2026.
• Costs: Estimated all-in drilling costs of approximately $250 per metre (inclusive of mobilization, supervision, assay, and logistical costs).

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. Our focus this winter is to extend known zones and continue building the scale of the Last Hope system with a disciplined, data-driven approach." — Bruce Reid, CEO