Mr. Brian Fowler reports

NORTHSTAR SURVEYS DEFINE LARGE NEAR SURFACE EM CONDUCTOR SOUTHEAST OF CAM COPPER MINE SIGNS BOSTON CREEK MINES LOI

Northstar Gold Corp. has completed pulse-EM surface electromagnetic (EM) and borehole electromagnetic (BHEM) surveys over a 900-metre southeast strike extension of the Cam copper mine volcanogenic massive sulphide (VMS) trend, 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 that recently returned multiple, near-surface, high-grade, VMS copper drill intercepts (see Northstar's news release dated Nov. 23, 2023).

Large 350 m, 200 Siemens near-surface EM conductor defines possible southeast strike extension of Cam copper zone 2 (14.8 per cent copper over 2.5 metres in DDH CC03-23)

Crone Geophysics and Exploration Ltd. recently completed a three-component, or three-dimensional surface EM survey that defined a strong near-surface conductor with a conductance of 200 Siemens (S), indicating possible massive sulphide mineralization along strike and similar in composition to Cam copper mine zone 2, but with potentially greater thickness. This potential zone 2 extension conductor has a minimum 350-metre strike length and 150-metre depth extent, and strikes 319 degrees azimuth (Az) and dips minus-82 degrees to the northeast. The zone 2 extension conductor is coincidental with several magnetic anomalies located approximately 600 m to 900 m along strike to the southeast of the Cam copper mine site, and could represent the southeast expansion of previously drilled Cam copper VMS zone 2 (14.8 per cent copper over 2.5 metres in DDH CC03-23 -- see Northstar's news release dated Nov. 23, 2023).

Boston Creek copper trend consolidation -- Northstar signs Boston Creek Mines property letter of intent and lock-up agreement

Northstar also announces the company has signed a letter of intent (LOI) which includes a six-month lock-up agreement to negotiate acquisition terms with Boston Creek Mines Ltd. for its 100-per-cent-owned, 65-hectare Boston Creek Mines property, situated adjacent and northwest of Northstar's Miller copper-gold property on the historic Boston Creek copper trend.

"Northstar continues to advance, enhance and expand the Boston Creek Mines VMS copper trend on the Miller copper-gold property by diamond drilling, borehole and surface EM surveys, and strategic acquisition strategies," states Brian P. Fowler, PGeo, president and chief executive officer of Northstar. "The newly defined, 350-metre near-surface zone 2 extension EM conductor is 750 metres southeast of Northstar's recent high-grade zone 2 drill hole copper intercepts at Cam copper mine, with signatures potentially representing a large, near-surface VMS deposit. Northstar is positioning to drill test the zone 2 extension conductor later this summer."

Strong 200 Siemens EM conductor discovered southeast of the Cam copper mine

The 200S conductor is characterized by strong late-time channel EM responses indicating persistence to depth and included a STEP response suggesting the presence of highly conductive sulphides within the larger conductive body. In addition to the strongly conductive EM anomaly, additional parallel conductor(s) have also been identified in the footwall and hangingwall of the main conductive body over a strike length of 500 metres; possibly greater as the footwall conductor(s) appear connected to several historic near-surface low-resistivity IP (induced polarization) anomalies along strike to the northwest. The entire package of conductor(s) could represent stacked lenses of VMS surrounding a subseafloor hydrothermal vent area. Previously identified vertical loop electromagnetic (VLEM) conductors present in the hangingwall of the strongly conductive body were also detected in the surface EM survey. The y-component profile section from line 7E highlighted multiple separate and distinctive conductors over a width of 150 metres. Similar pulse-EM technology and surveys lead to several previous VMS discoveries across Canada, including Hudbay Minerals' 2003 Lalor VMS deposit discovery in Manitoba.

3-D inversion of magnetic data outlines Cam copper zone 2 southeast expansion and possible VMS vent areas

In addition to the EM survey work, Northstar also completed a 3-D inversion of previously collected magnetic data covering the larger Cam copper area. The subsequent 3-D isosurface model of magnetic susceptibility successfully outlined the zone 2 VMS horizon along with several larger anomalies extending for 900 metres along strike to the southeast of Cam copper, including one magnetic anomaly only 115 metres to the southeast of the previous DDH CC03-23 intercept grading 14.8 per cent Cu (copper) over 2.45 m from 116.55 m to 119 m. A strong historic IP response associated with zone 2 was modelled between the magnetic anomaly and the hole CC03-23 intercept, indicating continuity of zone 2 along strike toward the southeast. The larger magnetic anomalies located on the zone 2 VMS horizon that are co-incidental with the newly discovered zone 2 extension and footwall EM conductor(s), particularly on line 6E, could represent thicker accumulations of massive sulphides associated with a primary VMS vent area where magnetite stringer zones are common in the footwall sequence.

Polymetallic sulphide discoveries southeast of the Cam copper mine

In early 2024, Northstar previously reported results (see Northstar's news release dated Jan. 30, 2024) of a limited prospecting and sampling program covering the southeast extension of the Cam copper VMS/exhalite trend along the contact with the Round Lake batholith. The program, while abbreviated due to snow cover, included the collection of 15 grab samples from older workings and gossanous areas. Several semi-massive to massive sulphide samples collected in proximity to the newly discovered large EM conductor(s), and magnetic anomalies returned values in Au (gold) (0 g/t to 2.02 grams per tonne (g/t) Au), Ag (silver) (0.15 g/t to 26.9 g/t), Cu (copper) (41 parts per million (ppm) to 27,900 ppm), Pb (lead) (0.9 ppm to 3,340 ppm) and Zn (zinc) (12 ppm to 2,070 ppm). These samples, collected from pods or lenses of massive sulphides, represent the surficial expression of distal mineralization along the margins of what is likely a more strongly mineralized VMS envelope highlighted by the strong 200S EM conductor located below the surface and along strike to the southeast of the 2023 sample locations.

Borehole EM surveys

A BHEM survey was completed in only two of four boreholes at Cam copper (CC01-23 and CC03-23) due to hole blockages, and was further hampered by a geomagnetic storm and interference from an adjacent power line. The initial coil induction survey did however identify a STEP response associated with zone 2, indicating the presence of highly conductive mineralization. A subsequent fluxgate magnetometer survey of hole CC03-23 identified a strong conductor, only 15 metres from the hole, subparallel to the hole trace, which was later concluded to be a highly conductive cross fault hosting both conductive fault gouge and graphite, which channeled current away from both zone 2 and borehole CC03-23, ultimately preventing full 3-D plate modelling of the zone 2 response. The strong historic IP anomaly and 3-D magnetic model of zone 2 were unaffected by the conductive cross fault.

Future exploration plans

Northstar intends to follow up on the 2023 Cam copper trend surface sample and 2024 EM survey targets in the spring of 2024, with a program of prospecting, geological mapping, sampling and a phase 2 diamond drill program. Northstar will also conduct surface inspections of historic workings, due diligence of the Boston Creek Mines property and negotiate acquisition terms.

Qualified person

Mr. Fowler, PGeo, president, CEO and director of Northstar Gold, is a qualified person as defined by National Instrument 43-101. Mr. Fowler has reviewed the technical information in this news release and approves the written disclosure contained herein.

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 has recently completed downhole and grid-scale EM geophysical surveys at Cam copper mine to define phase 2 drill targets in 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.