Dr. Dave Webb reports

UPDATE ON SIXTY NORTH GOLD MINING LTD. AND THE DEVELOPMENT OF THE MON PROPERTY, YELLOWKNIFE, NWT

Sixty North Gold Mining Ltd. has provided an update on its recent activities.

The company was impacted by the wildfires in the Northwest Territories in 2023 with its camp burning in August, 2023. It has accepted a $388,138.19 insurance settlement of its claim.

All major equipment and supplies required for the mining operation were not impacted by the fire. The company is planning to install a temporary camp to restart activities.

Sixty North is aware that the junior mining market has suffered the past few years and many shareholders have abandoned this sector, despite gold prices attaining record highs. To create the most value for its current and future shareholders, the company plans to execute on the project's development toward early cash flow, while minimizing the effects of financings and dilution. Insiders own over 40 per cent of the issued shares in the company, aligning their interests with external shareholders. Sixty North's goal is to restart mining operations in a few months, developing the vein below the historic stopes and bringing gold-bearing vein material to the surface for assessment. The company plans to install a mill in early 2025 with gold production commencing shortly afterward.

The company's strategy is to obtain the best information on the narrow vein, nuggety mineral structure and grade, with the most effective use of scarce cash resources, by completing the bulk sample described above. National Instrument 43-101 prohibits the use of certain terms like ore or reporting any financial details without completing prescribed preliminary feasibility or feasibility studies, which includes independence of the authors. Sixty North's team includes registered professional engineers and geologists with many decades of experience on this property, including past mine development and operation, who would be excluded from completing such reports. The company does not believe it would be in the shareholders' best interest to expend the funds to complete these reports at this time. With all mining equipment and bulk supplies already on site, the project's capital cost for development to production is substantially derisked.

Dr. D.R. Webb, PhD, PGeol, PEng, is the qualified person within the meaning of NI 43-101 and is responsible for the technical details of this release.

About Sixty North Gold Mining Ltd.

Sixty North Gold has been developing its 100-per-cent-owned Mon gold property, 40 kilometres north of Yellowknife, NWT, within the rich Yellowknife gold camp. This high-grade past producer averaged a mined grade of an estimated 30 grams per tonne gold and produced an estimated 15,000 ounces of gold from a folded quartz vein to depths of only 15 metres below surface.

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