Mr. Bruce Reid reports

55 NORTH MINING INC. ANNOUNCES $600,000 FINANCING AND SHARES-FOR-DEBT SETTLEMENT

55 North Mining Inc. has arranged a non-brokered private placement of units of up to $600,000. Each unit, priced at one cent, comprises one common share and one common share purchase warrant, entitling the holder to acquire one additional common share at a price of one cent per share for a period of 48 months from the date of issuance. All common shares issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance. The gross proceeds from the sale of the units will be used for general corporate purposes.

The company also announces that it will complete a share-for-debt settlement of up to $280,000, valued at five cents, and $170,000, valued at one cent, for a total of $444,093.90.

As well, 55 North announces that director Alka Singh has resigned from the 55 North board of directors to pursue other opportunities.

About 55 North Mining Inc.

55 North is an exploration and development company advancing its high-grade Last Hope gold project, located in Manitoba, Canada.

We seek Safe Harbor.