Mr. Brian Fowler reports

NORTHSTAR DRILLS 14.8% COPPER OVER 2.45 METRES AT HISTORIC CAM COPPER MINE

Northstar Gold Corp. has released assay results from the remaining three phase I diamond drill holes recently completed at the historic Cam copper mine on the company's 100-per-cent-owned Miller copper-gold property, situated 18 kilometres southeast of Kirkland Lake, Ont. Cam Copper is a road-accessible shaft mine and small-scale past producer of high-grade direct shipping copper ore centred on the historic Boston Creek copper trend.

The Cam copper mine is centred on a newly recognized, high-grade, Besshi-type volcanogenic massive sulphide (VMS) copper system situated at the northwest end of a 0.9-kilometre-long, southeast-trending belt of VMS horizons. Besshi-type VMS deposits are an important global source of base metals, simplistically characterized as vented, broad sheet-like layers of magnetite, iron-copper-lead-zinc-arsenic sulphides, cobalt, sulphosalts, silver and possibly gold deposited on an ancient sea floor, hosted in volcano sedimentary rock packages.

Northstar completed 720 metres of drilling in four diamond drill holes (CC01-23 to CC04-23) at the Cam copper mine between Oct. 20th and Oct. 30, 2023. The company reports all four drill holes intersected lenses of copper-rich volcanogenic massive sulphides, including massive and stringer chalcopyrite in drill hole CC03-23 grading 14.8 per cent Cu over 2.45 metres from 116.55 m to 119 m in zone 2. This intercept represents a significant zone 2 thickness increase and is highly suggestive of southeast downplunge expansion. Zones 1, 3 and 4 also remain open along strike and at depth.

The company reports the following assay highlights from the Cam copper mine phase I drilling program:

• Zone 1:
  • 3.12 per cent Cu over 3.6m from 25.0 m to 28.6 m, including 19.45 per cent Cu and 14.85 grams per tonne silver over 0.5 m from 28.1 m to 28.6 m in CC01-23 (previously reported);
• Zone 2:
  • 14.78 per cent Cu over 2.45 m from 116.55 m to 119.0 m, including 21.7 per cent Cu, 0.27 per cent lead and 17.68 g/t Ag over 1.35 m from 117.65m to 119.0 m, in CC03-23;
  • 8.17 per cent Cu over 1.5 m from 178.0 m to 179.5 m, including 16.05 per cent Cu over 0.6 m from 178.0 m to 178.6 m, in CC02-23;
  • 12.71 per cent Cu, 0.62 per cent zinc, 0.44 per cent Pb and 16.47 g/t Ag over 0.75 m from 107 m to 107.75 m in CC01-23;
  • 4.72 per cent Cu over 1.95 m from 106.8 m to 108.75 m, including 14.75 per cent Cu over 0.4 m from 106.8 m to 107.2 m, in CC04-23;
• Zone 3:
  • 5.91 per cent Cu over 1.5 m from 135.0 m to 136.5 m, including 9.92 per cent Cu over 0.5 m from 135.5 m to 136 m, in CC01-23;
  • 2.77 per cent Cu over 0.5 m from 224.2 m to 224.7 m in CC02-23.

Management commentary

"Northstar's 2023 Cam copper sampling and phase I drill results confirm reported historic widths and high copper grades, demonstrating copper mineralization is related to a robust, multihorizon copper VMS system with excellent expansion potential," stated Brian P. Fowler, PGeo, Northstar's president, chief executive officer and director. "Northstar is fully permitted and positioning to explore the strike and down plunge extensions of the Cam copper massive sulphide zones through phase II drilling."

Possible hydrothermal vent

Semi-massive sulphides with milled cherty fragments in zone 2, averaging 8.17 per cent Cu over 1.5 m from 178.0 m to 179.5 m in drill hole CC02-23, 80 metres below the 200-foot level of the historic mine workings, suggest close proximity to a nearby sea floor hydrothermal vent, in an area never before drill tested. Evidence of massive and stringer chalcopyrite over 2.45 m in adjacent drill hole CC03-23 strongly implies the possibility of significant zone 2 vertical and downplunge expansion potential to the southeast.

Historic validation

The phase I drilling and prior surface sampling results substantiate historic reported copper grades of a 1955 shipment of 346 tons of hoisted underground ore, which produced 43,411 pounds of Cu at a Noranda smelter for a recovered grade of 6.3 per cent Cu. The high-grade direct shipping ore was shipped directly from the mine site to the smelter without requiring further concentration in a mill. A previous 1948 shipment of 22 tons of ore to Noranda reportedly graded 12.72 per cent Cu, 0.84 ounce per ton Ag and 0.03 ounce per ton Au, presumably from zone 1.

Volcanic exhalite mineralization consisting of massive or semi-massive pyrite (plus or minus chalcopyrite) is known to extend for hundreds of metres along strike southeast of the Cam copper mine site, having been previously explored by historic pitting and trenching. The copper trend includes multiple historic ground EM (electromagnetic) and IP (induced polarization) bedrock targets, along with strong airborne EM and magnetic anomalies, which could highlight conductive bedrock targets such as copper-rich massive sulphides for up to 900 metres along strike to the southeast.

Future plans

Northstar is positioning to conduct a phase 2 Cam copper drill program to test the downplunge extension of mineralized zones, prioritizing expansion of the zone 2 massive sulphide lens and stockwork intersected in DDH CC03-23.

Owing to the conductive and chargeable nature of the massive sulphide mineralization encountered at Cam, a program of surface and borehole geophysics is also being planned to survey the mine site area and the Boston Creek copper trend along strike toward the southeast.

Cam geology

Copper mineralization at the Cam copper mine is hosted in the oldest known and possibly least understood lithological assemblage in the Abitibi greenstone belt, known as the Pacaud assemblage or Pacaud tuffs (approximately 2.75 billion years old; 2.75 billion years to 2,735 million years volcanic episode). The Pacaud assemblage is composed of finely bedded and intercalated mafic, intermediate and felsic ash tuff intruded by mafic sills. Sulphide mineralization appears to be stratiform and volcanogenic in nature with the zones exhibiting a distinctive stockwork feeder system in the footwall with chalcopyrite, pyrrhotite and magnetite stringers (plus or minus pyrite) and a massive chalcopyrite cap or lens stratigraphically above the underlying stockwork. Minor sphalerite and galena appear in the uppermost part of the sulphide cap.

Massive bornite pods were reported historically. Multiple stacked VMS horizons with significant sheet-like lateral and vertical extent, hosted in volcano sedimentary rock packages are characteristic of Besshi type or pelitic-mafic/mafic-siliciclastic (NRCAN nomenclature) VMS deposits. These deposits, while known to exist in the Archean era, are typically more common in Phanerozoic terrains. The VMS lenses at the Cam copper mine remain open in all directions, particularly downplunge to the southeast. The former-producing Amity and Patterson copper mines occur within the same geologic formation along strike to the northwest.

Northstar carried out a brief surface exploration program consisting of prospecting and sampling of the Cam copper mine between May 19 and May 25, 2023. A total of 19 representative surface samples were collected from the muck pile and bedrock surface near the historic shaft. Three samples were collected from a historic trench along the surface expression of zone 2. Assay results of the 19 samples ranged from 0.99 per cent to 31.8 per cent Cu and 0.31 g/t Ag to 452 g/t Ag. Copper grades from the Cam muck pile and bedrock were consistent with historically reported grades from both drilling intercepts, underground sampling and former mine production data.

One muck sample (E455292) of massive chalcopyrite with bornite assayed 31.8 per cent Cu, 0.53 per cent Zn and 452 g/t Ag. A bedrock sample (E455309) collected from mineralized stratiform sulphides near the historic shaft assayed 13.65 per cent Cu.

Three samples collected from a trench representing the surface expression of zone 2 included one sample (E455315) that assayed 0.54 per cent Cu, indicating a possible extension of zone 2 toward the southeast of the old workings.

Follow-up work is required in the Cam copper area to fully investigate the downplunge extension of the historic deposit.

Underground development and historic copper production

The Cam copper mine hosts at least three separate lenses (zone 1, zone 2, zone 3 and a possible zone 4) of massive copper sulphides about 30 to 50 metres apart striking and plunging southeast along the contact with the Round Lake granite batholith. Underground development took place between 1929 and 1953, which included the sinking of a 220-foot (66.7-metre) vertical shaft with 213 feet (64.5 m) of crosscutting and 267 feet (80.9 m) of drifting. The recent drilling and surface sampling results verify historic reporting of a 1955 shipment of 346 tons of hoisted underground ore, which produced 43,411 pounds of Cu at a Noranda smelter for a recovered grade of 6.3 per cent Cu. The ore was shipped directly from the mine site to the smelter without requiring further concentration in a mill. A previous 1948 shipment of 22 tons of ore to Noranda reportedly graded 12.72 per cent Cu, 0.84 oz/t Ag and 0.03 oz/t Au, presumably from zone 1.

Historic drilling

Historic drilling intercepts in zone 1 by Consolidated Golden Arrow Mines Ltd. at the Cam copper mine include:

• 1.6 per cent Cu over 6.6 feet (2.0 m) in DDH 1;
• 9.8 per cent Cu over four feet (1.21 m) in DDH 1A;
• 12.4 per cent Cu over 7.8 feet (2.36 m) in DDH 3;
• 7.0 per cent Cu over six feet (1.82 m) in DDH 4.

Average sampling grade reported in zone 1 was 8.5 per cent Cu over a true width of 4.4 feet (1.33 m), indicated over 100 feet (30.3 m) along strike.

Historic drilling intercepts by Consolidated Golden Arrow Mines in zone 2 include:

• 10.5 per cent Cu over 0.5 foot (0.15 m) in DDH 2;
• 19.9 per cent Cu over 3.1 feet (0.94 m) in DDH 3;
• 23.1 per cent Cu over 4.6 feet (1.39 m) in DDH 4 -- downplunge extension below workings;
• 12.4 per cent Cu over 3.3 feet (1.0 m) in DDH 7 -- downplunge extension below workings.

Average sampling grade reported in zone 2 was 10 per cent cu over a true width of 2.8 feet (0.85 m), indicated over 140 feet (42.4 m) along strike.

Bornite was reported to be common in zone 2, with the bornite-rich pods of massive sulphides remaining open downplunge to the southeast.

Quality control

Samples collected in the 2023 Miller surface exploration and drilling programs were delivered to ALS Global in Timmins, Ont., for preparation and assayed for gold and other elements by ALS Global in Vancouver, B.C.

Northstar has implemented a quality control program for its Cam copper project to ensure best practice in the sampling and analysis of surface samples, which includes the insertion of blanks and certified standards into the sample stream.

Surface samples were submitted to ALS Global at its Timmins, Ont., facility for sample preparation, where the entire sample was crushed to better than 90 per cent passing two millimetres, with 1,000 grams riffle split and pulverized to 85 per cent passing 75 microns. Pulps are forwarded to ALS Global in Vancouver, B.C., for analysis. Gold analysis is obtained by industry-standard fire assay with ICP finish using 15-gram to 30-gram aliquots. For samples returning greater than 10 g/t gold, follow-up fire assay analysis with a gravimetric finish is completed. Based on initial fire assay gold indications as well as visual indication of mineralization and alteration, samples are selected for reassay by the screen metallic fire assay method. Samples are also analyzed for 48 trace and major elements by ICP-MS following a four-acid digestion. For samples returning greater than 10,000 ppm Cu, follow-up four-acid digestion and ICP finish utilizing a 0.4-gram sample is utilized. ALS Global is ISO/IEC 17025:2017 accredited (lab No. 579) for the preparation and analyses performed on the Cam copper samples.

Qualified person

John Siriunas, PEng, a qualified person as defined under National Instrument NI 43-101, has reviewed technical aspects of this news release.

About the Miller property

Northstar's primary exploration focus is the advancement of the company's flagship, 100-per-cent-owned Miller gold property, situated 18 kilometres southeast of Kirkland Lake and Agnico Eagle Mines' Macassa SMC gold mine. The company's strategy is to develop either a minimum material (more than one million ounces) high-grade gold mineral resource to potentially supplement a nearby mining operation or a stand-alone mining operation at the Miller gold property.

Since going public by IPO (initial public offering) in late 2020, Northstar has spent over $4.7-million in exploration at Miller, resulting in the discovery of a series of broad, near-surface, shallow-dipping sheeted quartz-gold-telluride vein structures in the Allied syenite (Allied gold zone) and Planet syenites and numerous 70-to-750-gold-gram-metre drill hole intercepts. Drilling to date at the AGZ has returned near-surface gold intercepts that include 6.6 g/t Au over 117.0 metres, 4.0 g/t Au over 50.6 metres, 1.4 g/t Au over 118.5 metres and 1.2 g/t Au over 107.3 metres. Stepout Allied gold zone drilling in 2021 intersected peripheral steeply dipping copper-gold-bearing structures (CG1 and CG2 zones) returning intercepts that include 9.41 g/t Au and 1.03 per cent Cu over 3.0 m. The Allied gold zone shares numerous compelling similarities to Agnico Eagle's nearby Upper Beaver deposit, currently in the predevelopment stage.

In April, 2022, as a precursor to a mineral resource estimate and for reporting purposes, the company commissioned Ronacher Mackenzie Geoscience and SRK Consulting (Canada) to conduct an exploration target study of the Allied gold zone and the No. 1 vein on the Miller property. An upper range exceeding 500,000 ounces of gold averaging 2.04 g/t Au has been referenced in this study. Results were reported July 26, 2022 (see Northstar's news release dated July 26, 2022) verifying the significance, size and gold grade potential of the Allied gold mineralizing system. Results provide the company and investors a fact-based conceptual tonnage and gold grade range for the Allied syenite gold zone and basis for continued expansion drilling and mineral resource development.

In addition to drill testing extensions of the high-grade Cam copper mine this fall, Northstar is positioning to conduct a phase IIIA Allied gold zone lateral and depth expansion drill program on the Miller gold property.

Northstar has three additional 100-per-cent-owned exploration projects in Northern Ontario, including the recently acquired 1,200-hectare Rosegrove property situated 0.5 kilometre from the Miller gold property, the 4,650-hectare Bryce gold property (which includes the recently optioned Britcanna lease), an intrusive-gold/PME VMS project located along the projected east extension of the Ridout break, and the recently expanded Temagami-Milestone copper/nickel/cobalt critical mineral property, located in Strathcona township. Northstar is advancing all three properties to enhance monetization opportunities.

About Northstar Gold Corp.

Northstar's primary exploration focus is the advancement of the company's flagship, 100-per-cent-owned Miller gold property, situated 18 kilometres southeast of Kirkland Lake and Agnico Eagle Mines' Macassa SMC gold mine. The company's strategy is to develop either a minimum material (more than one million ounces) high-grade gold mineral resource to potentially supplement a nearby mining operation or a stand-alone mining operation at the Miller gold property.

Northstar has three additional 100-per-cent-owned exploration projects in Northern Ontario, including the recently acquired 1,200-hectare Rosegrove property situated 0.5 km from the Miller gold property, the 4,650-hectare Bryce gold property (which includes the recently optioned Britcanna lease), an intrusive-gold/PME VMS project located along the projected east extension of the Ridout break, and the recently expanded Temagami-Milestone copper/nickel/cobalt property, located in Strathcona township. Northstar recently filed an NI 43-101 technical report on the Bryce gold property and is advancing all three properties to enhance monetization opportunities.

We seek Safe Harbor.