Mr. Bruce Reid reports

55 NORTH MINING ANNOUNCES CLOSING OF FLOW-THROUGH FINANCING

55 North Mining Inc. has closed its previously announced non-brokered flow-through private placement.

Pursuant to the private placement, the company issued 1,702,800 flow-through (FT) common shares at a price of 74.5 cents per FT share for aggregate gross proceeds of $1,268,586.02.

The FT shares entitle the holder to receive the tax benefits applicable to flow-through shares in accordance with the provisions of the Income Tax Act (Canada). No warrants were issued in connection with the private placement. All securities issued pursuant to the private placement are subject to a four-month hold period in accordance with applicable securities laws.

The gross proceeds raised from the private placement will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures for purposes of the Income Tax Act (Canada), related to the exploration of the company's Last Hope gold project.

The company further confirms that exploration drilling activities are under way, with one drill rig currently operating on the Last Hope gold project. A more detailed operational update will be provided in a subsequent news release.

About 55 North Mining Inc.

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

We seek Safe Harbor.