Sixty North Gold Mining Ltd. (CSE: SXTY,OTC:SXNTF) (FSE: 2F40) (OTC Pink: SXNTF) (the “Firm” or “Sixty North Gold”) pronounces that that it has organized debt settlements with sure officers and administrators of the Firm to settle a complete of $105,000 in indebtedness for accrued administration and consulting charges from the interval March 1, 2025 to September 30, 2025, to be settled by the issuance and supply of a complete of 954,543 frequent shares of the Firm at a deemed worth of $0.11 per share. GST on the excellent quantities shall be paid in money by the Firm. The shares shall be topic to resale restrictions for a interval of 4 months and a day from their date of issuance.
Debt settlements with administrators and officers of the Firm represent associated get together transactions for the needs of Multilateral Instrument 61-101 Safety of Minority Safety Holders in Particular Transactions (“MI 61-101“). The Firm intends to depend on the exemption from the formal valuation requirement in MI 61-101 offered below part 5.5(b) of MI 61-101 on the premise that the Firm’s shares usually are not listed on any of the desired markets listed in MI 61-101. The debt settlements are additionally exempt from the vast majority of the minority approval requirement in MI 61-101 below part 5.7(1)(a) of MI 61-101 on the premise that the truthful market worth of the debt settlements is lower than 25% of the Firm’s market capitalization.
Concerning the Firm
Sixty North is creating mining operations for gold on its 100-per-cent-owned Mon Gold Challenge, which extracted 15,000 tonnes of ore to depths of solely 15 metres under floor, recovering an estimated 15,000 ounces of gold within the Nineteen Nineties (Firm Technical Report NI 43-101, August 3, 2023 on SEDAR+ or https://sixtynorthgold.com/tasks/technical-report/. The North Ramp has been reopened and has been prolonged to the goal portion of the vein. The corporate plans to develop stopes within the East Limb, West Limb and DD Zone to extract and to feed a 100 tpd gravity-flotation mill.
Further gold, silver and base metallic targets happen on the property and shall be explored and developed as warranted.
The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or higher (Discovery Mine with a million ounces of gold produced, and Sixty North Gold’s Mon Mine), and two that averaged 15 gpt or higher for a complete manufacturing of over 14 million ounces of gold (Con Mine and Large Mine); (ref. Firm Technical Report NI 43-101, August 3, 2023).
The technical content material of this launch has been reviewed and accepted by Dr. D.R. Webb, P.Geol, President and CEO of Sixty North Gold Mines Ltd.
For extra info, please confer with the Firm’s public filings obtainable on SEDAR+ (www.sedarplus.ca), below the Firm’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dave Webb”
Dave Webb, President & CEO
This information launch incorporates “forward-looking statements” throughout the which means of Canadian securities laws. Such forward-looking statements concern, with out limitation: the completion of the debt settlements described herein. Such forward-looking statements or info are based mostly on numerous assumptions, which can show to be incorrect. Assumptions have been made concerning, amongst different issues: situations typically financial and monetary markets; timing and quantity of capital expenditures; efficiency of companies required by the Firm; future working prices; and the receipt of regulatory approvals. The precise outcomes may differ materially from these anticipated in these forward-looking statements on account of danger components, together with regulatory dangers; unanticipated prices and bills; availability of funds; market costs;, and basic market situations. Ahead-looking statements are based mostly on the expectations and opinions of the Firm’s administration on the date the statements are made. The assumptions used within the preparation of such statements, though thought of cheap on the time of preparation, might show to be imprecise and, as such, readers are cautioned to not place undue reliance on these forward-looking statements, which converse solely as of the date the statements have been made. The Firm undertakes no obligation to replace or revise any forward-looking statements included on this information launch if these beliefs, estimates and opinions or different circumstances ought to change, besides as in any other case required by relevant regulation.
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THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
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