Sixty North Gold Advances Development at Mon Gold Mine, NWT

Vancouver, British Columbia–(Newsfile Corp. – July 16, 2026) – Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the “Company” or “Sixty North Gold“) is pleased to announce activities to commence gold production this year on its wholly-owned Mon Gold Mine, Yellowknife, NWT are on schedule with only modest delays to date.

Sixty North Gold has assembled its camp and has received authorization from Inspectors to clear the mill pad and commence constructing roads to the dry stack tailings facility (DSTF). Operations are proceeding as planned and a revised Design and Construction Plan for the mill has been submitted to the MVLWB for review. Discussion with the MVLWB on the water management plan will continue, including the submission of an independent review of the past 25 years of sample results recognizing no significant change in water conditions after material wildfire seasons in 2023 and other years. Drought conditions in advance of all of the wildfire seasons reduced or eliminated water in our sample sites, resulting in missing data.

Our plans to proceed include:

1. Assemble the camp and infrastructure. (3 to 4 weeks)
   1. Crews are on site and active.
2. Clear the mill pad of the blasted rock and use this rock for road construction purposes. (2 weeks)
   1. Crews are on site and will commence within the next 2 weeks.
3. Commence assembling the mill (9 to 13 weeks)
   1. Crews with support can commence once approvals of the Design and Construction Plan – Mill are approved (re-submitted).
4. Commence extracting mill feed
   1. This will commence one week prior to mill start-up.
5. Commence operations.
   1. This requires approvals of all remaining Management Plans. (all Management Plans have been submitted at least once. The Water and Groundwater Management Plan is subject to Board directive for two years of post-2023 wildfire baseline sampling).

All mining and milling equipment and necessary supplies and crews are on the property executing Items 1 and 2.

Dave Webb, President & CEO reports “We had been operating under an Advanced Exploration Plan under a board directive dated October 24, 2022 which allowed for underground development, bulk sampling, infrastructure construction, and limited processing.

“We are moving the project forward with full support of the federal, territorial and indigenous governments, subject to the MVLWB regulations. The MVLWB is completing their review of the various remaining Management Plans and will be requesting clarification and revisions as needed. We feel that we have been making progress and that we can meet the current requirements to move through the next steps to production.”

The company is well funded and has engaged external technical experts to assist in the completion of the remaining plans. The mine site had been subjected to an Archeological Overview Assessment including field visits in 2016, but in June 2026 we initiated and completed a more extensive Archeological Impact Assessment to provide more confidence to the local First Nations that the Mon Gold Mine will have minimal and acceptable impacts.

Dr. D.R. Webb, P.Geol, P.Eng., a “qualified person” under National Instrument 43-101 and President and CEO of Sixty North Gold, has reviewed and approved the technical content contained in this news release.

About the Company

Sixty North Gold is developing mining operations on its 100-per-cent-owned Mon Gold Project. The Company has designed its operation to be as sustainable as possible. In a first for the Yellowknife gold belt, our environmentally friendly mill is a crush, grind, gravity, float, filter dry stack operation.

1. The gold-bearing rock is selectively mined from underground producing minimal waste rock. The mine currently has one 3m x 4m access portal, and will have one 2m x 2m raise for secondary egress. Mill feed is developed and trucked to surface as needed.

2. The gold bearing rock is crushed in a closed two stage circuit before being fed into a ball mill where it is ground to p80 -150 mesh. Sixty has opted for a fairly coarse grind because we can recover >95% of the gold as shown in test work, and the tailings are therefore coarser and easier to deal with than fine ground rock.

3. Gold is recovered in a gravity circuit where the concentrate can be melted to form raw gold, or doré bars. The gravity tailings pass to a flotation circuit where the residual gold is processed, resulting in up to 95% cumulative gold recoveries in the two circuits. The gold flotation concentrate and all associated sulphides are collected into mega bags for shipment off-site for sale or further processing.

4. The tailings are filtered in pressure filters to remove 80 to 85% of the water for recycling. The residual tailings are damp sands comprised of quartz, carbonate and minor rock fragments that get trucked to a Dry Stack Facility where they can be placed and monitored.

The 100 tpd mill will require 15 to 20 cubic meters of make-up water each day that will be sourced first from mine water discharge and lastly from fresh sources. Net, the Mon Mine should use less water than a modest diamond drill program and have no liquid slurry to manage and net, the mill will have reduced fresh water usage by >85%.

Mining at the Mon Gold Mine in the 1990’s extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold (Company Technical Report NI 43-101, August 3, 2023 on SEDAR+ or https://sixtynorthgold.com/projects/technical-report/). Recently, underground development has intersected the productive A-Zone 17 m below the historic stopes as planned. A newly discovered zone, the DD-Zone is exposed in the main ramp. The company plans to develop and mine stopes in the East Limb, West Limb and DD Zone and to extend the ramp to allow for the development of deeper levels.

The silver-rich VMS deposits (https://sixtynorthgold.com/projects/volcanogenic-massive-sulphide-vms-deposits/), the large shear zone-hosted gold targets (https://sixtynorthgold.com/projects/shear-zones/), and the critical-element-enriched IOCG-style mineralization (https://sixtynorthgold.com/projects/iocg-target/) will be explored and developed as warranted.

The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery Mine with one million ounces of gold produced, and Sixty North Gold’s Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Mine and Giant Mine); (ref. Company Technical Report NI 43-101, August 3, 2023). The Yellowknife Gold Belt is an historic gold producing camp where all of the mines commenced production at <100 tpd. Yellowknife has the people, services and experience to bring this Archean gold belt back to life.

For more information, please refer to the Company’s public filings available on SEDAR+ (www.sedarplus.ca), under the Company’s profile.

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the anticipated timeline for mobilization of equipment and personnel to the mine site as well as the receipt of necessary regulatory approvals.

Forward-looking information is based on certain assumptions that Sixty North Gold believes are reasonable at this time, including assumptions as its ability to receive, in a timely manner and on satisfactory terms, the necessary regulatory and other third-party approvals.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: the risk that mobilization of equipment and personnel may not be completed on a timely basis or at all; the risk that doing so may involve unexpected costs, liabilities or delays; the possible occurrence of an event, change or other circumstance that could result in the Company being unable to commence operations; risks relating to the failure to obtain necessary regulatory approvals; general economic, market and business conditions; fluctuations in securities markets and the market price of precious metals and of the Company’s shares; and other risks inherent in the mining industry.

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof and, except as required by applicable securities laws, Sixty North Gold does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise.

Source: https://www.newsfilecorp.com/release/305438/Sixty-North-Gold-Advances-Development-at-Mon-Gold-Mine-NWT