Dr. Dave Webb reports

SIXTY NORTH GOLD ANNOUNCES PROJECT FINANCING TO RESTART OPERATIONS AT THE HIGH-GRADE MON GOLD MINE

Sixty North Gold Mining Ltd., on Nov. 17, 2025, signed a binding commitment letter from Vesta Wealth Partners Ltd., an independent investment firm, on behalf of certain accounts and funds managed by it as investment adviser or investment manager, to provide the company with a $3.6-million term loan to finance development to production of its wholly owned flagship Mon gold mine. Vesta operates at arm's length to the company. The Mon gold mine is located 45 kilometres (km) north of Yellowknife, NWT, and will be the only operating gold mine in the Northwest Territories and, except for the Mon mine's initial development in the 1990s, it the first mine to be started in the Yellowknife gold belt since the Discovery mine started operations in 1948.

Dr. Dave Webb, president and chief executive officer, reports: "It is exciting to be able to bring mining back to Yellowknife. This high-grade camp hosts the past-producing Con mine, Giant mine and Discovery mines that produced 14 million ounces of gold at grades greater than 16 gpt, as well as the Mon gold mine that produced at 30 gpt gold in the 1990s (see technical report, Aug. 3, 2023)."

Jared Wolk, chief investment officer of Vesta, commented on the transaction: "We at Vesta Wealth Partners are incredibly excited to be involved in a project of this significance. The Mon gold mine represents a unique opportunity to restart production in a historic and proven high-grade gold camp. Our financing commitment reflects our confidence in the operational plan, the quality of the Mon gold asset, and the vision of Dr. Webb and the Sixty North Gold team to bring the Yellowknife gold belt back to active production."

Subject to the negotiation of definitive agreements and approval of the Canadian Securities Exchange, Vesta will provide the loan in three scheduled payments totalling $3.6-million, repayable within 36 months of closing. No finders' fees were paid or are payable on the loan agreement. Sixty North Gold has agreed to the following terms:

• Paying 12-per-cent interest per annum on any outstanding principal, with no principal payments required until December, 2026;
• Issuing Vesta 6.65 million share purchase warrants, exercisable at 14 cents per warrant for a period of three years following issuance;
• Providing a 2.5-per-cent net smelter return royalty on activities at the Mon gold mine for a minimum of four years, which is subject thereafter to a buyback for a repurchase price of up to $5-million;
• Sixty North Gold will provide a first-ranking senior security interest over the Mon gold mine;
• Appointing two qualified nominees from Vesta to its board of directors during the loan term.

Dr. Webb further adds: "Development of the Mon gold mine mirrors the development of the Con mine that started at 100 tpd in 1936, the Discovery mine that started at 100 tpd in 1948 and the Giant mine that started at 235 tpd in 1948. These high-grade nuggety mines are difficult to assess by drilling. Initial production at the Con mine exceeded the drill hole results used to define the stopes by over 400 per cent (gold in the Yellowknife greenstone belt, Northwest Territories: results of the EXTECH III multidisciplinary research project, 2006). Drilling to define the structure and then mining to evaluate the grade of mineralization has been the principal method to develop gold mines in the Yellowknife belt."

About Sixty North Gold Mining Ltd.

Sixty North Gold is developing mining operations for gold on its 100-per-cent-owned Mon gold project. Mining in the 1990s extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold in the 1990s (company technical report, National Instrument 43-101, Aug. 3, 2023, on SEDAR+). The north ramp has been reopened and has been extended to intersect the vein 17 metres below the historical stopes. The company plans to develop stopes in the east limb, west limb and DD zone to extract and to feed its 100-tonne-per-day (tpd) gravity flotation mill.

Additional gold, silver and base metal targets occur on the property and will be explored and developed as warranted.

The Yellowknife gold camp hosts two mines that averaged 30 grams per tonne (gpt) gold or better (Discovery mine, with one million ounces of gold produced, and Sixty North Gold's Mon mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con mine and Giant mine) (reference: company technical report, NI 43-101, Aug. 3, 2023).

The technical content of this news release has been reviewed and approved by Dr. D.R. Webb, PGeol, president and CEO of Sixty North Gold.

For more information, please refer to the company's public filings available on SEDAR+.

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