Mr. Dave Webb reports

SIXTY NORTH GOLD ANNOUNCES DEBT SETTLEMENTS AND OPTION GRANTS

Sixty North Gold Mining Ltd. has arranged debt settlements with certain officers and directors of the company to settle a total of $130,000 in indebtedness for accrued management and consulting fees from the period from Oct. 1, 2025, to Sept. 30, 2026, to be settled by the issuance and delivery of a total of 928,570 common shares of the company at a price of 14 cents per share within the next five business days subject to the Canadian Securities Exchange raising no objection to such closing. GST on the outstanding amounts will be paid in cash by the company. The shares will be subject to resale restrictions for a period of four months and a day from their date of issuance.

The company has also granted incentive stock options to its directors, officers and consultants to purchase a total of up to 1,275,000 common shares of the company at an exercise price of 14 cents per share until Oct. 2, 2031. The options are not subject to vesting provisions.

Debt settlements with directors and officers of the company constitute related party transactions for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on the exemption from the formal valuation requirement in MI 61-101 provided under Section 5.5(b) of MI 61-101 on the basis that the company's shares are not listed on any of the specified markets listed in MI 61-101. The debt settlements are also exempt from the majority of the minority approval requirement in MI 61-101 under Section 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the debt settlements is less than 25 per cent of the company's market capitalization.

About Sixty North Gold Mining Ltd.

Sixty North Gold is developing mining operations on its 100-per-cent-owned Mon gold project. The company has designed its operation to be as sustainable as possible.

The 100-tonne-per-day mill will only require 15 to 20 cubic metres of make-up water each day that will be sourced first from mine water discharge and lastly from fresh sources. The Mon mine should use less water than a modest diamond drill program and have no liquid slurry to manage and net, the mill will have reduced fresh water usage by more than 85 per cent.

Mining at the Mon gold mine 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 (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 historical stopes as planned. 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 (volcanogenic massive sulphide) deposits, the large shear zone-hosted gold targets and the critical-element-enriched IOCG-style (iron oxide, copper and gold) mineralization will be explored and developed as warranted.

The Yellowknife gold camp hosts two mines that averaged 30 grams per tonne (g/t) gold or better (discovery mine with one million ounces of gold produced and Sixty North Gold's Mon mine), and two that averaged 15 g/t or better for a total production of over 14 million ounces of gold (Con mine and Giant mine); (company technical report, NI 43-101, Aug. 3, 2023). The Yellowknife gold belt is a 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.