Mr. Bruce Reid reports

55 NORTH MINING INC. ANNOUNCES SIGNING OF EXPLORATION AGREEMENT WITH THE MARCEL COLOMB FIRST NATION BAND

55 North Mining Inc. and Marcel Colomb First Nations (MCFN) have signed an exploration agreement outlining a framework for collaboration on the proposed exploration of the Last Hope gold project in Lynn Lake, Man.

The agreement details how the two parties will work together to progress continuing exploration activity at the Last Hope gold project, which lies within the MCFN traditional territory in the Lynn Lake area of Manitoba.

MCFN Chief Christopher Colomb said, "We are in full support of the Last Hope gold project moving ahead."

55 North chief executive officer Bruce Reid said: "The landmark agreement is an important step forward in our long-standing relationship with the MCFN band. We look forward to working closely with MCFN to advance our high-grade Last Hope gold project."

About the Last Hope gold project

Since 2017, 55 North Mining has spent over $5-million on exploration and community relations at its Last Hope property. A previous diamond drill program consisting of 11,653 metres in 29 holes was conducted in 2020 and 2021. Stepout drilling extended the strike length of the gold mineralization to approximately 1.2 kilometres.

The phase 2 drill program was completed in 2020. Drill results from that program included LH-20-08, which returned 19.25 grams per tonne over 15.7 metres. Currently, the Last Hope gold project hosts an indicated mineral resource of 408,300 tonnes grading 5.41 grams per tonne gold for 71,100 ounces of gold and an inferred resource of 1,553,000 tonnes grading 5.48 grams per tonne gold for 273,800 ounces of gold.

The Last Hope property has the potential to define additional mineral resources and expand the mineral resource area. The company has planned a phase 3 drill program. The phase 3 drill program will comprise 9,500 metres of drilling in 25 holes as a follow-up to the 2020/2021 drill program. This program will target possible mineralization for an additional 500 metres along strike to the southeast of the present mineral resource at a vertical depth of approximately 550 metres.

About 55 North Mining Inc.

55 North Mining is an exploration and development company advancing its high-grade Last Hope gold project located in Manitoba, Canada.

We seek Safe Harbor.