Mr. Dave Webb reports

SIXTY NORTH GOLD UPDATES SCHEDULED DEVELOPMENT AT MON GOLD MINE, NWT

Sixty North Gold Mining Ltd. has provided an update on its plan to commence gold production this year on its wholly owned Mon gold mine, Yellowknife, Northwest Territories.

Sixty North Gold has been informed that the Mackenzie Valley Land and Water Board (MVLWB) has requested all mine and mill developers without an approved water management plan to collect additional baseline sampling prior to submitting that plan. This change in policy is apparently derived from concerns about how the environment has changed subsequent to the drought and wildfires across the Northwest Territories. This directive affects Sixty North Gold and will delay the company's planned start-up time frame.

The company and its consultants have provided baseline data extending back to the 1990s when sampling was conducted by government inspectors and previous operators. More recent samples have been collected since the issuance of the company's licenses and permits, and most recently from 2020. This includes baseline sampling in 2024 after the wildfire season in 2023. Discussions are continuing with the MVLWB and its inspectors to determine how this policy change affects the company's previously announced plans to commence gold production at the Mon gold mine. Currently, only limited activity is being permitted on site.

The company has submitted 12 management plans and has received approval for six from the MVLWB. Since the company's last update dated May 19, the mill design and construction plan, ore stockpile design and management plan, and dry stack tailings design and construction plans have been submitted. The dry stack tailings (DST) management plan can be submitted on MVLWB approval of the DST design and construction plan, which has also been submitted. The interim closure and reclamation plan is being replaced by a revised closure and reclamation plan.

Dave Webb, president and chief executive officer, reports: "We had been operating under an advanced exploration plan under a board directive dated Oct. 24, 2022, but that is now no longer effective. All mining and milling equipment and necessary supplies are on the property and crews are mobilizing to the property to commence preparatory work pending additional MVLWB approvals. We will comment further as soon as we have clarity on how the above change will impact our start-up time line, but remain optimistic that this matter will be expediently and satisfactorily resolved."

About Sixty North Gold Mining Ltd.

Sixty North Gold is developing mining operations for gold on its 100-per-cent-owned Mon gold project. Mining in the 1990s extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold in the 1990s (company technical report National Instrument 43-101, Aug. 3, 2023, on SEDAR+). Recently, underground development has intersected the productive A zone 17 metres below the historic stopes. A newly discovered zone, the DD zone is exposed in the main ramp. The company plans to develop and mine stopes in the East limb, West limb and DD zone, and to extend the ramp to allow for the development of deeper levels.

The silver-rich VMS deposits, the large shear zone-hosted gold targets and the critical-element-enriched iron-oxide-copper-gold-style mineralization will be explored and developed as warranted.

The Yellowknife gold camp hosts two mines that averaged 30 grams per tonne gold or better (Discovery mine with one million ounces of gold produced, and Sixty North Gold's Mon mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con mine and Giant mine); (reference company technical report NI 43-101, Aug. 3, 2023). The Yellowknife gold belt is an historic gold-producing camp where all of the mines commenced production at less than 100 tonnes per day. Yellowknife has the people, services and experience to bring this Archean gold belt back to life.

We seek Safe Harbor.