Sixty North closes $670,494 first tranche of financing

Mr. David Webb reports SIXTY NORTH GOLD ANNOUNCES CLOSING OF FIRST TRANCHE OF UNIT OFFERING Sixty North Gold Mining Ltd., further to its news releases of Oct. 21, 2025, Oct. 30, 2025, and Oct. 31, 2025, regarding its offering, has now closed the first tranche of that offering consisting of 6,095,400 units for gross proceeds of $670,494. Each unit comprises one common share and one common share purchase warrant of the company. Each warrant will be exercisable to purchase one share at a price of 15 cents for a period of 24 months from the closing date. The securities issued under the first tranche of the offering will bear a legend restricting resale until March 7, 2026. Finders' fees of $14,039.52 in cash and 127,632 finders' warrants were paid on portions of this financing, with the finders' warrants bearing the same terms as the warrants. The company intends to close a second tranche shortly. The net proceeds from the offering will be used for further exploration and development of the Mon gold property, located in the Northwest Territories, and for the company's general working capital requirements. David Webb, the chief executive officer and a director of the company, participated in the offering, which is considered to be a related party transaction within the meaning of exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, adopted in Policy 5.9. The company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101). Mr. Webb subscribed for one million units in the offering, which acquisition represents 1.6 per cent of the company's current issued and outstanding shares on a partially diluted basis. When combined with his previous holdings, Mr. Webb now owns or controls, directly or indirectly, a total of 16,077,790 shares of the company, representing 26.8 per cent of the company's current issued and outstanding shares. Including the warrants acquired with the units, Mr. Webb also holds warrants to acquire a further 1.3 million shares, which, when combined with its current shareholdings (assuming exercise of all of those warrants), would result in total shareholdings of 17,377,790 shares of the company or 28.4 per cent of the total issued shares of the company on a partially diluted basis. Mr. Webb holds the shares for investment purposes. Depending upon market conditions and other factors, he may from time to time acquire additional securities of the company on the open market or through private acquisitions, sell some or all of his existing shareholdings in the company in accordance with applicable securities laws, or continue to hold his current position. About Sixty North Gold Mining Ltd. Sixty North Gold is developing mining operations for gold on its 100-per-cent-owned Mon gold project, which extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold in the 1990s (company technical report, National Instrument 43-101, Aug. 3, 2023, on SEDAR+). The north ramp has been reopened and has been extended to the target portion of the vein. The company plans to develop stopes in the east limb, west limb and DD zone to extract and to feed a 100-tonne-per-day gravity-flotation mill. Additional gold, silver and base metal targets occur on the property and will be explored and developed as warranted. The Yellowknife gold camp hosts two mines that averaged 30 grams per tonne (g/t) gold or better (Discovery mine, with one million ounces of gold produced, and Sixty North Gold's Mon mine), and two that averaged 15 g/t or better for a total production of over 14 million ounces of gold (Con mine and Giant mine) (reference: company technical report, NI 43-101, Aug. 3, 2023). The technical content of this news release has been reviewed and approved by Dr. D.R. Webb, PGeol, president and chief executive officer of Sixty North Gold. We seek Safe Harbor.