Mr. Brian Fowler reports

NORTHSTAR SURVEYS IDENTIFY MULTIPLE GOLD AND CRITICAL MINERAL TARGETS AT ROSEGROVE PROPERTY

Northstar Gold Corp. has released results from recently completed lidar and MMI (mobile metal ion) soil surveys at the company's 100-per-cent-owned, 1,150-hectare Rosegrove property, situated immediately northwest of Northstar's Miller copper-gold property and 13 kilometres south of the town of Kirkland Lake, Ont.

The primary objective of the Rosegrove lidar and MMI surveys was to substantiate exploration potential for gold and critical mineral deposits in areas with favourable geology and sparse outcrop, particularly along the Pacaud fault zone and northwest strike extensions of the Boston Creek copper trend.

A 2021 propertywide UAV (unmanned aerial vehicle) magnetic survey (see Northstar's news release dated July 29, 2021) and the recent Rosegrove lidar and MMI surveys have delineated multiple coincidental magnetic, structural and soil geochemical gold anomalies (up to 17 times background) associated with the regional first-order Pacaud fault zone and two distinct copper trends and zinc anomalies (up to 122 times background) in Pacaud assemblage metavolcanics. Pacaud Assemblage rocks host the volcanogenic massive sulphide (VMS) horizons recently confirmed by Northstar's Cam copper mine drill program (see Northstar's news release dated Nov. 23, 2023) on the adjacent Miller copper-gold property.

The Rosegrove lidar and MMI surveys were partially funded by a recently awarded Ontario Junior Exploration Program (OJEP) critical minerals exploration grant of $80,532.50 from the Ontario Ministry of Mines. Grant proceeds cover up to 50 per cent of Northstar's eligible, 2023/2024 critical mineral exploration expenditures at the Rosegrove property (see Northstar's news release dated Dec. 18, 2023).

"Early-stage mineral exploration and target definition in highly prospective, drift-covered areas is a lengthy process that requires a methodical, integrated approach utilizing proven techniques that include MMI, UAV magnetics and lidar surveys. Northstar is pleased with the number and magnitude of coincidental anomalies that clearly support the premise for gold and/or critical minerals deposit(s) occurring at Rosegrove," stated George Pollock, Northstar's vice-president of exploration. "Northstar plans to groundtruth these new exploration targets this coming summer by geological mapping, prospecting, sampling and trenching."

MMI soil survey results -- highly anomalous responses showing gold and VMS potential

The Rosegrove MMI soil survey has identified four significant gold anomalies (areas A, B, C, D) associated with the regional Pacaud fault zone. Anomalies with a response ratio up to 17 times background have been identified proximal to the fault zone, often associated with parallel or splay structures within the larger deformation corridor. Several other elements known to correlate closely with gold in the Kirkland Lake camp and the Miller copper-gold property, including molybdenum, lead and bismuth, also produced isolated but highly anomalous response ratios of 217, 49 and 16, respectively, proximal to the Pacaud fault zone. This suggests the northwest-striking deformation corridor represents a conduit for gold-bearing hydrothermal fluids with possible deposition of gold into second-order structures or alkaline-intrusive centres.

Several critical minerals anomalies (areas A, B and E) have also been identified by the MMI survey associated with the Pacaud fault zone and Pacaud assemblage metavolcanics in the south portion of the Rosegrove property. Copper anomalies correspond with two distinct trends with a north-northwest-striking trend (areas B and E) correlating with the northeastern flank of the Pacaud fault zone, including one coincidental gold anomaly (area B). A southern copper trend correlates strongly with zinc, which produced a response ratio 122 times above background in the southern part of the Rosegrove property (area A).

Anomalous iron and titanium response ratios, indicative of magnetite mineralization proximal to area A copper and zinc anomalies may represent footwall stringer-type mineralization, similar to that observed at the nearby Cam copper mine. Area A sample D00434803 produced highly anomalous responses in gold, silver, copper and zinc, indicating potential for gold-rich VMS mineralization. These results are strongly suggestive that volcanogenic exhalite horizons with possible polymetallic VMS lenses are present in the south portion of the survey grid, within or along the contact with Pacaud assemblage metavolcanics. This rock assemblage hosts the former-producing Boston Creek copper trend and the Amity, Patterson and Cam copper mines, 3.5 kilometres south of the Rosegrove property.

MMI soil sampling was completed on the Rosegrove property from Sept. 25, 2023, to Nov. 3, 2023, and conducted at 200-metre station spacing covering a 636-hectare area. A total of 207 samples were collected and shipped to SGS Canada Inc. in Burnaby, B.C., for trace and major elements (mobile metal ion standard package) by ICP-MS following element extraction using a weak organic and inorganic solution. Response ratios greater than 10 times background are considered strongly anomalous.

Rosegrove lidar survey

In the fall of 2023, Northstar commissioned KBM Resources Group to acquire propertywide lidar and high-resolution orthophoto imagery over the entire Rosegrove property. The survey successfully traced the regional Pacaud fault zone and splay structures (second-order structures) that potentially host gold or gold-telluride mineralization like the Miller copper-gold property. Several prominent north-south and east-northeast-trending structures were also identified in the southern and western areas of the property, where bedrock was not obscured by a floodplain. The lidar and orthophoto imagery survey was flown using a Piper Seneca twin-engine aircraft with the Riegl VQ780I lidar system. Due to a lack of ground control points, the absolute vertical accuracy was not assessed. Survey parameters are listed in the attached table.

Follow-up plans

Northstar plans to groundtruth anomalous MMI, lidar and earlier 2021 UAV magnetic survey features (see Northstar's news release dated July 29, 2021) in 2024, in addition to zones where syenite intrusions are known to outcrop or possibly reflect observed overlaying magnetic features. Detailed bedrock sampling and infill MMI soil sampling around highly anomalous sample locations proximal to the Pacaud fault zone, syenite intrusions and potential extension of VMS horizons to the west of the current survey grid are planned for the spring and summer of 2024.

MMI quality control

A quality control procedure was implemented to ensure best practice in the sampling and analysis of the MMI samples. This procedure includes cleaning extraction tools (shovel, plastic scoop and hands) at every new sample site and including duplicates and replicates into the sample stream. During the MMI sampling program, 194 samples were collected and 13 samples were control samples for a total of 207 samples submitted for analyses. All samples were shipped to the SGS Canada Inc. in Burnaby, B.C., for analysis and analyzed for trace and major elements (mobile metal ion standard package) by ICP-MS following element extraction using a weak organic and inorganic solution.

Data analysis procedure and interpretation

MMI is a high-resolution soil geochemistry technique which aims to:

• Detach adsorbed ions from the exterior of soil particles;
• Leave the substrate relatively undissolved;
• Provide better signal to noise (background) ratio;
• Better spatial resolution.

MMI is a partial extraction technique and therefore the absolute values are less than those obtained by strong acid extraction and do not represent an assay of the sample. Analysis and interpretation of the MMI data were conducted using the procedures outlined in SGS Minerals (2005) (processing and presenting MMI geochemical data) technical bulletin 23. To eliminate biases in the data (dissolution variable during extraction and sampling in different regolith units), a response ratio was calculated. Each select element was normalized to the predetermined background value to calculate the response ratio. The background value for individual elements was determined by calculating the lowest quartile of the data for all samples analyzed. Once the lowest quartile is determined, the average of the samples with a value equal to or less than the lowest quartile is averaged to obtain the background value. The response ratio is determined by dividing the value for each sample by the background value. A response ratio lower than two is considered background, and a response ratio between five and 10 is considered significant depending on the regolith/landform and sample spacing. Response ratios greater than 10 times background are considered strongly anomalous.

All scientific and technical information contained in this news release has been prepared under the supervision of Brian P. Fowler, PGeo, president, chief executive officer and director of Northstar Gold, a qualified person within the meaning of National Instrument 43-101.

About Northstar Gold Corp.

Northstar's primary exploration focus is to advance and expand its near-surface, bulk-tonnage gold-telluride and more recently discovered VMS copper mineral deposits on the company's flagship, 100-per-cent-owned Miller copper-gold property, situated 18 kilometres southeast of Kirkland Lake, Ont. The company's strategy is to develop a material (greater than one million ounces gold/high-grade copper) mineral resource base to either supplement a nearby mining operation or support a stand-alone mining operation at the property.

Allied gold zone

Since going public by IPO (initial public offering) in late 2020, Northstar has spent over $5.6-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 Allied gold zone has returned near-surface gold intercepts that include 6.6 grams per tonne gold over 117.0 metres, 4.0 grams per tonne gold over 50.6 metres, 1.4 grams per tonne gold over 118.5 metres and 1.2 grams per tonne gold over 107.3 metres. Stepout AGZ drilling in 2021 intersected peripheral steeply dipping copper-gold-bearing structures (CG1 and CG2 zones) returning intercepts that include 9.41 grams per tonne gold and 1.03 per cent copper over 3.0 metres. 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 Miller property Allied gold zone and No. 1 vein. An upper range exceeding 500,000 ounces of gold averaging 2.04 grams per tonne gold has been referenced in this study. Reported results (see Northstar's news release dated July 26, 2022) verify 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.

Cam copper mine

On Nov. 23, 2023, Northstar announced results from a 720-metre, four-hole diamond drill program completed on the historic high-grade Cam copper mine, located 2.5 kilometres southwest of the Allied gold zone and also on Northstar's 100-per-cent-owned Miller property. The company reported all 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 copper over 2.45 metres from 116.55 metres to 119 metres in zone 2 (see Northstar's news release dated Nov. 23, 2023). These results suggest zone 2 is thickening in a southeast and downplunge direction. Zones 1, 3 and 4 also remain open along strike and at depth.

Cam is a road-accessible shaft mine and a 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 is positioned to conduct downhole and grid-scale EM geophysical surveys at the Cam copper mine to define phase II drill targets in late Q1 2024 or early Q2 2024.

Northstar is seeking a senior partner to conduct Allied gold zone lateral and depth expansion diamond drilling on the Miller property.

Northstar's three additional 100-per-cent-owned exploration projects in Northern Ontario include the recently acquired 1,150-hectare Rosegrove property, situated 0.5 kilometre from the Miller property; the 4,650-hectare Bryce gold property (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 seeking exploration partners to advance all three properties.

We seek Safe Harbor.