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Northern Lights Resources Corp (2)
Symbol NLR
Shares Issued 70,643,704
Close 2026-07-16 C$ 0.115
Market Cap C$ 8,124,026
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Northern Lights appoints Mahaffy as CEO

2026-07-20 17:39 ET - News Release

Mr. Guy Mahaffy reports

NORTHERN LIGHTS APPOINTS GUY MAHAFFY AS CHIEF EXECUTIVE OFFICER TO LEAD NEXT PHASE OF GROWTH

Northern Lights Resources Corp. has appointed Guy Mahaffy as chief executive officer, effective immediately.

Mr. Mahaffy brings over 25 years of experience spanning the mining industry, capital markets and corporate development. He has served as an officer and director of several mineral exploration companies and has helped execute a number of successful acquisitions, divestitures, IPOs (initial public offerings) and financings. This experience includes serving as the chief financial officer of Wallbridge Mining Company Ltd. until shortly before the spinout of Duluth Metals Ltd. and as independent chair of the board of directors of Manitou Gold Inc. until its acquisition by Alamos Gold Inc.

Mr. Mahaffy holds the professional designations of chartered financial analyst, chartered accountant and chartered professional accountant as well as a master's degree from the University of Waterloo. The board believes his combination of executive leadership, transaction experience and capital markets expertise is well aligned with Northern Lights' priorities as the company advances its exploration portfolio.

Luka Capin, outgoing chief executive officer of Northern Lights, has stepped down as chief executive officer and will continue to serve as a director, supporting continuity in the company's corporate development activities throughout the leadership transition. Mr. Capin commented: "Leading Northern Lights through its transformation alongside our stakeholders has been a privilege. The company is now well capitalized, supported by strong partners and positioned for its next phase of growth. I am proud to hand the reins to Guy, whose experience is ideally suited to guide Northern Lights forward. I look forward to supporting him and the company through the transition."

"I am grateful to Luka and the board for the support and the opportunity to lead Northern Lights at this important stage," stated Mr. Mahaffy. "The company has established a strong platform for growth and my focus will be on disciplined execution as we advance the portfolio, drill priority targets and move each project through clear technical decision points. I look forward to working with the team to build Northern Lights into a leading exploration company and creating long-term value for shareholders."

In connection with Mr. Capin's transition, the company has cancelled 800,000 previously granted incentive stock options held by Mr. Capin pursuant to the terms of his resignation agreement.

The company has granted 800,000 incentive stock options to Mr. Mahaffy pursuant to the company's stock option plan. The options are exercisable at a price of 10 cents per common share for a period of two years from the date of grant and vest one-third after three months, one-third after six months and the remaining one-third 12 months from the date of grant. The stock option grant remains subject to the policies of the Canadian Securities Exchange.

About Northern Lights Resources Corp.

Northern Lights Resources is a growth-oriented mineral exploration and development company advancing three key projects: the Horetzky copper project, located in the Babine porphyry belt of central British Columbia; the Pup copper project in Yukon; and the 100-per-cent-owned Secret Pass gold project, located in Arizona.

Northern Lights trades under the ticker NLR on the Canadian Securities Exchange, under the ticker NLRCF on the OTC (over-the-counter market) and under the ticker symbol 0ZH0 on the Frankfurt Stock Exchange.

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