Mr. Bruce Reid reports

55 NORTH MINING INC. ANNOUNCES COMPLETION OF FIRST TRANCHE OF PRIVATE PLACEMENT AND UNITS-FOR-DEBT SETTLEMENT

55 North Mining Inc. has closed the first tranche of a private placement financing of 68.7 million units for proceeds of $687,000.

Each unit comprises one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price of one cent per share for a period of 48 months from the date of issuance. All common shares issued in connection with the offering will be subject to a statutory hold period of four months plus one day from the date of issuance. The gross proceeds from the sale of the units will be used for general corporate purposes and for exploration in its mineral property in Manitoba.

The warrants are exercisable only where the minimum exercise price becomes at least five cents per common share through consolidation.

The company also completed a previously announced share-for-debt settlement for a total of $439,094.

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.