Northstar Closes 1st Tranche of Private Placement to Advance Surgical Mining Project at Cam Copper

Executive Summary

• Northstar Gold Corp. closed the first tranche of its non‑brokered private placement, issuing 9.3 million Units at $0.06 each for gross proceeds of $558,000.
• Proceeds will fund permitting, engineering and early‑stage implementation of Novamera Inc.’s Surgical Mining™ system on the Cam Copper Project, including geological modelling, metallurgical studies, a NI 43‑101 technical report, and working capital.
• The company plans a near‑term second tranche and continues to seek final CSE approval for the overall offering.

Key Details

• Units Issued: 9,300,000 Units @ $0.06 per Unit → Gross proceeds: $558,000 (up to $800,000 total).
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.075, 60‑month term).
• Finder Compensation: $28,800 paid in fees; 480,000 Finder Warrants issued (same exercise terms as above).
• Statutory Hold Period: All securities subject to a four‑month‑plus‑one‑day hold period under Canadian securities law.
• Use of Proceeds:
• Update geological model and block model for Cam Copper Zone 2.
• Conduct preliminary metallurgical studies.
• Commission NI 43‑101 technical report & mineral resource estimate (Micon).
• Permit acquisition, detailed engineering, mine planning, surface‑site preparation, mobilization.
• Working capital.
• Project Context: Funding supports the Cam Copper Zone 2 Surgical Mining™ pilot under a Turnkey Surgical Mining Services Agreement with Novamera (executed Oct 9 2025) and a consortium with DIGITAL, Novamera, and Micon (~$11 M total). DIGITAL has approved up to $4.0 M co‑investment; an initial $300k reimbursement is expected by mid‑April 2026.
• Future Funding: Company intends to close a second tranche of the private placement; offering remains subject to final CSE approval.

Notable Quotes

(No direct quotes were provided in the release.)