Sixty North Gold Announces Closing of Second and Final Tranche of Unit Offering

Core Points - Sixty North Gold Mining Ltd. has closed its second and final tranche of 833,333 units for gross proceeds of $50,000, bringing total gross proceeds from both tranches to $307,100 [1][3] Financing Details - Each unit is priced at $0.06 and consists of one share and one-half of a common share purchase warrant, with each whole warrant exercisable at $0.10 for twelve months [2] - The securities from the offering will have a resale restriction until February 25, 2026, and no finder's fees were paid [3] Use of Proceeds - The net proceeds from the offering will be allocated for further exploration and development of the Mon Gold Property in NWT, as well as for general working capital [3] Company Overview - Sixty North Gold is focused on developing mining operations at its 100% owned Mon Gold Project, which previously extracted 15,000 tonnes of ore and recovered an estimated 15,000 ounces of gold in the 1990s [4] - The North Ramp has been reopened and extended to target portions of the vein, with plans to develop stopes in the East Limb, West Limb, and DD Zone to support a 100 tpd gravity-flotation mill [4] Additional Exploration Potential - The Mon Gold Property also has additional gold, silver, and base metal targets that will be explored and developed as warranted [5] - The Yellowknife gold camp has a history of significant gold production, with two mines averaging 30 gpt gold or better and a total production exceeding 14 million ounces [5]