Mr. David Webb reports

SIXTY NORTH GOLD ANNOUNCES UNIT OFFERING INITIAL CLOSING AND SHARES FOR DEBT AGREEMENT TOTALLING $726,515

Further to the news release of May 1, 2023, where Sixty North Gold Mining Ltd. announced plans to complete a non-brokered private placement of up to 12.5 million units at an offering price of 12 cents per unit, to raise gross proceeds of up to $1.5-million, Sixty North Gold has closed on 4,304,291 units, raising gross proceeds of $516,515. Each unit consisted of one common share, and one non-transferable share purchase warrant, with each warrant being exercisable to purchase one additional share at an exercise price of 18 cents per share until June 8, 2025, provided that if the closing market price for the issuer's common shares is greater than 28 cents per share for a period of 10 consecutive trading days, then the issuer may deliver a notice to the purchaser notifying such purchaser that the warrants must be exercised within 30 days from the date of delivery of such notice.

The securities for the offering will bear legends restricting resale until Oct. 9, 2023. Finders fees of $4,800 were paid as part of this financing. Insiders are participating in $270,375 of this portion of the financing.

The net proceeds of the offering will be used for further exploration and development of the Mon gold property, Northwest Territories, and the company's general working capital requirements.

Sixty North Gold is also pleased to announce that it has arranged debt settlements with a former director and an officer of the company to settle $210,000 in indebtedness for accrued management and consulting fees from the period Sept. 1, 2021, to May 31, 2023, to be paid by the issuance and delivery of a total of 1.75 million common shares of the company in the aggregate, at a deemed value of 12 cents per share, plus goods and services tax. The shares will be subject to resale restrictions for a period of four months and a day from their date of issuance.

Dave Webb, president and chief executive officer, reports: "We are pleased that insiders have participated to $480,375 in cash and debt conversion, showing our belief in the project and our desire to commence producing gold from our mine. We believe operations are the least risky development plan in our permitted location with past production history by the team we have assembled. Insiders now hold 49 per cent of the outstanding shares of the company, up from 40.2 per cent before the financing."

About Sixty North Gold Mining Ltd.

The company is developing mining operations for gold on the Mon gold property, 40 kilometres north of Yellowknife, NWT. It is currently permitted for production, and has past production of 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold.

The Mon gold property consists of 11 contiguous mining leases and three mineral claims, comprising an aggregate 1,537 acres, located in the South MacKenzie mining district, Northwest Territories. Eight additional mineral claims and one other mining lease are controlled under option, totalling 5,500 acres.

We seek Safe Harbor.