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Sixty North Gold Mining Ltd. (CSE: SXTY,OTC:SXNTF) (FSE: 2F40) (OTC Pink: SXNTF) (the “Firm” or “Sixty North Gold”) is happy to report that on November 17, 2025 it signed a binding dedication letter from Vesta Wealth Companions Ltd. (“Vesta”), an impartial funding agency, on behalf of sure accounts and funds managed by it as funding advisor or funding supervisor, to supply the Firm with a $3,600,000 time period mortgage (the “Mortgage”) to fund growth to manufacturing of its wholly-owned flagship Mon Gold Mine. Vesta operates at arm’s size to the Firm. The Mon Gold Mine is situated 45 km north of Yellowknife, NWT and would be the solely working gold mine within the Northwest Territories and apart from the Mon Mine’s preliminary growth within the 1990’s, it the primary mine to be began within the Yellowknife Gold Belt for the reason that Discovery Mine began operations in 1948.
Dave Webb, President and CEO experiences “It’s thrilling to have the ability to carry mining again to Yellowknife. This high-grade camp hosts the past-producing Con Mine, Big Mine, and Discovery mines that produced 14 million ounces of gold at grades higher than 16 gpt, in addition to the Mon Gold Mine that produced at 30 gpt gold within the 1990’s (see Technical Report, August 3, 2023).”
Jared Wolk, Chief Funding Officer of Vesta, commented on the transaction: “We at Vesta Wealth Companions are extremely excited to be concerned in a challenge of this significance. The Mon Gold Mine represents a singular alternative to restart manufacturing in a historic and confirmed high-grade gold camp. Our financing dedication displays our confidence within the operational plan, the standard of the Mon Gold asset, and the imaginative and prescient of Dr. Webb and the Sixty North Gold workforce to carry the Yellowknife Gold Belt again to lively manufacturing.”
Topic to the negotiation of definitive agreements and approval of the Canadian Securities Alternate, Vesta will present the Mortgage in three scheduled funds totaling $3,600,000, repayable inside 36 months of closing. No finder’s charges had been paid or are payable on the Mortgage settlement. Sixty North Gold has agreed to the next phrases:
- paying 12% curiosity every year on any excellent principal, with no principal funds required till December 2026;
- issuing Vesta 6,650,000 share buy warrants, exercisable at $0.14 per warrant for a interval of three years following issuance;
- offering a 2.5% web smelter return royalty on actions on the Mon Gold Mine for no less than 4 years, which is topic thereafter to a buyback for a repurchase value of as much as $5,000,000;
- Sixty North Gold will present a primary rating senior safety curiosity over the Mon Gold Mine; and
- appointing two certified nominees from Vesta to its board of administrators in the course of the Mortgage time period.
Dr. Webb additional provides “Improvement of the Mon Gold Mine mirrors the event of the Con Mine that began at 100 tpd in 1936, the Discovery Mine that began at 100 tpd in 1948, and the Big Mine that began at 235 tpd in 1948. These high-grade nuggety mines are troublesome to evaluate by drilling. Preliminary manufacturing on the Con Mine exceeded the drill gap outcomes used to outline the stopes by over 400% (Gold within the Yellowknife Greenstone Belt, Northwest Territories: Outcomes of the EXTECH III Multidisciplinary Analysis Challenge, 2006). Drilling to outline the construction after which mining to judge the grade of mineralization has been the principal technique to develop gold mines within the Yellowknife Belt.”
Concerning the Firm
Sixty North Gold is creating mining operations for gold on its 100-per-cent-owned Mon Gold Challenge. Mining within the 1990’s extracted 15,000 tonnes of ore to depths of solely 15 metres under floor, recovering an estimated 15,000 ounces of gold within the 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 intersect the vein 17 m under the historic stopes. The corporate plans to develop stopes within the East Limb, West Limb and DD Zone to extract and to feed its 100 tpd gravity-flotation mill.
Further gold, silver and base steel targets happen on the property and can 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 Big Mine); (ref. Firm Technical Report NI 43-101, August 3, 2023).
The technical content material of this launch has been reviewed and permitted by Dr. D.R.
Webb, P.Geol, President and CEO of Sixty North Gold Mines Ltd.
For extra info, please seek advice from the Firm’s public filings out there on SEDAR (www.sedarplus.ca), beneath the Firm’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dave Webb”
Dave Webb, President & CEO
Statements in regards to the Firm’s future expectations and all different statements on this press launch apart from historic information are “ahead trying statements”. Such forward-looking statements are primarily based on quite a few assumptions, and contain identified and unknown dangers, uncertainties and different components, together with dangers inherent in mineral exploration and growth, which can trigger the precise outcomes, efficiency, or achievements of the Firm to be materially completely different from any projected future outcomes, efficiency, or achievements expressed or implied by such forward-looking statements. Additional particulars in regards to the dangers relevant to the Firm are contained within the Firm’s public filings out there on SEDAR (www.sedarplus.ca), beneath the Firm’s profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/274981
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