Mr. Brian Fowler reports

NORTHSTAR PROVIDES FINANCINGS AND CAM COPPER SURGICAL MINING UPDATES

Northstar Gold Corp. has closed a second tranche of its previously announced non-brokered private placement of hard-dollar units, raising gross proceeds of $130,999.98.

This brings total proceeds raised under the offering to $688,999.98, following the first tranche of $558,000 (see news release dated March 9, 2026). The company has issued an aggregate of 11,483,333 units to date. Continued investor participation reflects growing support for Northstar's exploration and development strategy (please see news release dated Feb. 26, 2026, for full offering details).

Hard-dollar financing overview

The second tranche consisted of 2,183,333 units issued at six cents per unit.

Each unit consists of:

• One common share;
• One common share purchase warrant.

Each warrant entitles the holder to acquire one additional common share at an exercise price of 7.5 cents for a period of 60 months from issuance.

All securities issued are subject to a statutory hold period of four months and one day, in accordance with applicable securities laws. Completion of the offering remains subject to final approval of the Canadian Securities Exchange.

Critical minerals flow-through offering

In parallel, Northstar announces a non-brokered critical minerals flow-through offering of up to $1-million through the issuance of flow-through shares priced at seven cents per share:

• An initial tranche of at least $300,000 is expected in the near term.
• The financing is expected to be supported by strategic investors aligned with Northstar's critical minerals and surgical mining objectives.
• Additional tranches may follow as project milestones are achieved.

Finders' fees or commissions may be payable in accordance with CSE policies and applicable securities laws.

Strategic financing and project advancement

Northstar continues to strengthen its financing base through a combination of equity and non-dilutive sources:

• The company and its consortium partners have been approved to access up to $4-million in co-investment funding from Digital (see Jan. 28, 2026, Northstar news release).
• This financing supports the Cam copper surgical mining for critical minerals project, part of a broader approximately $11-million initiative.
• Northstar has also applied for reimbursement of eligible 2025 definition drilling expenditures, with an initial payment anticipated later this month.

Together, these financing streams are expected to accelerate the company's path toward near-term surgical mining copper production.

Use of proceeds

Proceeds from the financings will be used to advance the company's 100-per-cent-owned Cam copper project, located approximately 18 kilometres southeast of Kirkland Lake, Ont.

Financing will support:

• Geological and block model updates for Zone 2;
• Preliminary metallurgical testing;
• Preparation of a National Instrument 43-101 technical report and mineral resource estimate;
• Permitting and detailed engineering;
• Mine planning and site preparation;
• Initial deployment of Novamera Inc.'s surgical mining system;
• General working capital.

The Zone 2 surgical mining pilot program is advancing under a turnkey surgical mining services agreement with Novamera (executed Oct. 9, 2025).

Northstar is progressing toward a notice-to-proceed decision, subject to permitting, financing and completion of technical studies. A compliant mineral resource estimate will be completed prior to any production decision.

Consortium and technology partnership

Northstar is advancing the project through a strategic consortium with:

• Digital -- Canada's global innovation cluster for digital technologies;
• Novamera;
• Micon International Ltd.

This collaboration is focused on deploying data-driven mining solutions and Novamera's proprietary surgical mining technology to enable efficient, low-impact extraction of high-grade copper resources.

The consortium is targeting potential small-scale copper production in early 2027.

About Northstar Gold Corp.

Northstar is focused on advancing two key assets on its 100-per-cent-owned Miller copper-gold property near Kirkland Lake, Ont., adjacent to Kirland Lake Discovery Corp.'s recently acquired Mirado property:

• Allied gold zone (near-surface gold system);
• Cam copper project (high-grade VMS (volcanogenic massive sulphide) copper system).

Recent exploration target study highlights include:

• Allied gold zone (2022, SRK Canada): 250,000 to 500,000 ounces of gold grading 1.4 to 2.04 grams per tonne;
• Cam copper Zone 2 (2025): 75,000 to 140,000 tonnes grading 9 per cent to 18 per cent copper (conceptual average approximately 12 per cent).

Both targets remain open for expansion.

In addition, Northstar holds three other 100-per-cent-owned exploration properties in Northern Ontario:

• Rosegrove property (1,150 hectares);
• Bryce gold property (4,650 hectares, including Britcanna lease);
• Temagami-Milestone copper-nickel-copper property.

The company is actively seeking partners to advance these additional assets.

We seek Safe Harbor.