Mr. Wayne Parsons reports

55 NORTH MINING INC. ANNOUNCES NAME CHANGE TO "55 NORTH GOLD INC." AND ELECTION OF TWO NEW DIRECTORS

55 North Mining Inc. has released the voting results of its annual general and special meeting of shareholders, held on June 22, 2026. Shareholders voted in favour of all matters put before the meeting, including a special resolution approving a change of the company's name to 55 North Gold Inc., the election of two new directors and the reapproval of the company's restricted share unit plan.

Change of name

Shareholders approved, by special resolution, an amendment to the company's articles to change its name from 55 North Mining Inc. to 55 North Gold Inc., or such other name as the board of directors may determine and as may be acceptable to the applicable regulatory authorities. The change of name is intended to better align the company's name with its principal focus on gold exploration and development.

The name change remains subject to receipt of all necessary regulatory approvals. It will become effective once the certificate of amendment is issued and all regulatory approvals have been obtained.

Shareholders set the number of directors at six and elected each of the following management nominees to the board of directors: Wayne Parsons, Bruce Reid, Sandra Jackson, Herbert Urton, Hugh Aird and Peter Simeon.

The company is pleased to welcome Mr. Aird and Mr. Simeon as new members of its board of directors.

Mr. Aird is an investment banker with over 43 years of experience, having completed more than 150 debt and equity financings and numerous merger and acquisition assignments across the public and private sectors. Mr. Aird serves as a director on multiple private boards affiliated with Brookfield Asset Management.

Mr. Simeon is a partner at Gowling WLG (Canada) LLP, where he has practised since February, 2015. He has over 20 years of experience as a corporate and securities lawyer focused on corporate finance and mergers and acquisitions. Mr. Simeon holds a bachelor of arts from Queen's University and a law degree from Osgoode Hall Law School at York University, and serves as an independent director of several publicly traded Canadian companies.

Wayne Parsons, president and chief executive officer of 55 North, commented: "On behalf of the board and management, I want to thank our shareholders for their continued support. We are delighted to welcome Hugh and Peter to the board. Their combined experience in capital markets, corporate finance and securities law will be invaluable as we advance our projects and move forward under our new name, 55 North Gold Inc."

Reapproval of restricted share unit plan

Shareholders reapproved the company's restricted share unit plan. The RSU plan is a rolling plan under which the maximum number of common shares issuable, together with all of the company's other security-based compensation arrangements, shall not exceed 10 per cent of the company's issued and outstanding common shares from time to time.

About 55 North Mining Inc.

55 North Mining is a Canadian exploration and development company advancing its 100-per-cent-owned high-grade Last Hope gold project. The 2021 National Instrument 43-101 mineral resource estimate for the Last Hope gold deposit comprises 71,100 ounces of indicated gold resources at 5.41 grams per tonne gold contained within 400,000 tonnes and 273,800 ounces of inferred gold resources at 5.48 g/t Au contained within 1.5 million tonnes. The deposit remains open both down plunge and along strike, highlighting strong exploration potential for resource expansion through additional drilling.

The mineral resource estimate for the Last Hope gold project is based on the 2021 NI 43-101 technical report. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. Investors are cautioned that the company has not completed a preliminary economic assessment, prefeasibility study or feasibility study on the project, there is increased uncertainty, and there are specific economic and technical risks of failure associated with any production decision based on the current mineral resource estimate.

Qualified person

The technical content of this news release has been reviewed and approved by Michael Thompson, PGeo, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

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