Mr. Bruce Reid reports

55 NORTH MINING ANNOUNCES CLOSING OF FIRST TRANCHE OF ITS NON-BROKERED PRIVATE PLACEMENT FINANCING, TOTALLING $3,587,000

55 North Mining Inc. will close the first tranche of its previously announced non-brokered private placement financing on Oct. 30, 2025, for gross proceeds of approximately $3,587,000.

As noted in the company's press release dated Oct. 10, 2025, the offering consists of up to 12 million common shares at a price of 50 cents per share.

The first tranche comprises the issuance of 7,174,000 common shares at a price of 50 cents per share, for total proceeds of $3,587,000. In connection with this tranche, the company issued 300,240 common shares as finder's compensation and 150,120 finders' warrants, each exercisable to acquire one common share at an exercise price of 50 cents for 24 months from issuance to certain preapproved finders.

Proceeds will be used to finance property payments and the commencement of drilling programs, and for general working capital and corporate overhead. The company expects to complete the balance of the offering in one or more additional closings in the near term, subject to customary conditions. Following this closing, the company will have approximately 32.0 million common shares issued and outstanding.

"We are very pleased with the strong investor support for this financing," said Bruce Reid, chief executive officer of 55 North Mining. "With this first tranche complete, the company is well positioned to commence its winter drill program at Last Hope."

About 55 North Mining Inc.

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

We seek Safe Harbor.