Sixty North Gold Announces Debt Settlements

Core Points - Sixty North Gold Mining Ltd. has arranged debt settlements totaling $105,000 with certain officers and directors, to be settled by issuing 954,543 common shares at a deemed value of $0.11 per share [1] - The debt settlements are classified as related party transactions under Multilateral Instrument 61-101, with exemptions from formal valuation and majority approval requirements due to the fair market value being less than 25% of the company's market capitalization [2] Company Overview - Sixty North Gold is developing gold mining operations at its 100% owned Mon Gold Project, which previously extracted 15,000 tonnes of ore, recovering an estimated 15,000 ounces of gold in the 1990s [3] - 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 tonnes per day gravity-flotation mill [3] - The Yellowknife gold camp, where the company operates, has a history of significant gold production, with two mines averaging 30 grams per tonne (gpt) gold and a total production exceeding 14 million ounces [4]