Vancouver, British Columbia--(Newsfile Corp. - June 26, 2025) - Northstar Gold Corp. (CSE: NSG) ("Northstar" or the "Company"), is pleased to announce receipt of positive results from Novamera Inc.'s recently completed Cam Copper Mine "Zone 2 Proposed Development and Surgical MiningTM Evaluation Study" (or "Novamera Study"), as provided by terms of a Memorandum of Understanding (MOU) between both Companies (Please see Northstar News Release dated October 3rd, 2024).
Novamara Study results are predicated on Northstar's recently announced Zone 2 Exploration Target 3D models and high-grade copper and tonnage ranges of 75,000 to 140,000 tonnes grading between 9% and 18% copper, with a conceptual average grade of 12% copper1 (Please see Northstar News Release dated June 12, 2025). Northstar's historic direct-shipping high-grade Cam Copper Mine (or the "Cam Copper Project") is situated at the 100%-owned Miller Copper-Gold Property, 18 kilometres southeast of Kirkland Lake, Ontario.2,3,4
Zone 2 Surgical MiningTM Letter of Intent Discussions in Progress
Northstar is also pleased to announce receipt of a draft Letter of Intent (LOI) from Novamera detailing the timeline, terms and conditions for 3rd party financing, exploration, development and high-grade copper production at the Cam Copper Zone 2 Project. The Northstar-Novamera LOI will establish terms under which Novamera will work with partners to seek sources of funding to Surgically MineTM the Cam Copper Project as proposed in the Novamera Study, subject to the definition and permitting of an economic deposit. This includes a multi-staged program (the "Surgical MiningTM Program") to test and extract material from the copper-rich, near vertical Zone 2 VMS horizon at the historic Cam Copper mine site. The LOI is expected to be executed in the very near term.
Novamera has developed technologies for Surgical Mining, an innovative, data-driven mining method designed to bring steeply dipping narrow vein deposits into production. This groundbreaking approach offers a lower capital expenditure (CAPEX) and a faster path to production, while significantly reducing environmental and social impacts.
Northstar is positioning to commission a NI43-101 reporting compliant Technical Report and Mineral Resource Estimate, including information regarding the Reasonable Prospects for Eventual Economic Extraction, on the Cam Copper Project.
High Grade Cam Copper Zone 2 Exploration Target
Northstar's recently reported Zone 2 Exploration Target is projected to contain between 75,000 and 140,000 tonnes grading between 9% and 18% copper with a conceptual average grade of 12% copper1 (Please see Northstar News Release dated June 12, 2025 and Figures 1 and 2). The Exploration Target study is based on statistical evaluation of 15 mineralized drill core intercepts of Zone 2 and predicated on 3D geological and block models developed this spring by Caracle Creek Consulting Inc. and CGK Consulting Services Inc., respectively. The geological and block models define the Zone 2 Exploration Target as a continuous northwest-trending, steeply-dipping tabular zone of high-grade copper sulphide mineralization (Figures 1 and 2).
Zone 2 is interpreted to host Cu-rich Besshi-type volcanogenic massive chalcopyrite and bornite mineralization, extending from surface to approximately 200 metres depth, spanning approximately 125 metre strike length and averaging 1 metre in width. High-grade Zone 2 mineralization remains open to depth, plunging at -71 degrees southeast along an interpreted VMS feeder zone.
Zone 2 is the largest of 3 narrow, steeply dipping tabular copper horizons with an historic estimate by a previous operator to average 10% copper over a 0.85 metre true width, 42-metre strike length and a minimum 140 metre depth extent from surface2. Northstar's 2023 and 2024 Zone 2 drilling (7 holes), including an intercept of 14.8% copper over 2.45 metres in drill hole CC-03-23 (Please See Northstar News Release dated Nov. 23, 2023), and Zone 2 Exploration Target results corroborate these historic estimates.
1 The above Exploration Target range in tonnes and grade highlights the exploration potential of Cam Copper No. 2 Zone. The quantity and quality are purely conceptual in nature. Insufficient exploration has been carried out to define a mineral resource on the property and a Qualified Person has not done sufficient work to classify the Cam Copper Exploration Target projection as a current mineral resource. These values cannot and should not be relied upon are only included herein as an indication of potential mineralization on the Property. Additional exploration including a 43-101 Technical Report, CIM and NI-43-101 reporting compliant mineral resource estimate and Preliminary Economic Assessment are required to establish the economic potential of Cam Copper No. 2 Zone. It remains unclear whether a mineral resource will be delineated on the Property.
2 Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File KL-0843, Prospectus of Fidelity Mining Investments Ltd. 1962
3 Ontario Ministry of Energy, Northern Development and Mines Mineral Deposit Inventory Record MDI31M13NW000154: Tretheway-Ossian- 1981, Ch.H. Cameron-1981
4 Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File KL-0259, Tretheway-Ossian (Cam Copper Mine). 1961
Figure 1. Cam Copper Mine Zone 2 Exploration Target and Extension Drilling
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Figure 2. 3D Block Model and Cu Grade (%) of Cam Copper Zone 2 Exploration Target
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Qualified Person
The information in this news release that relates to the Exploration Target for the Cam Copper Project is based on, and fairly represents, the available information assembled by Mr. Christopher Keech P.Geo., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Professional Engineers and Geoscientists of British Columbia ("EGBC"). Mr. Keech has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Qualified Person.
Mr. Keech is the Principal Geologist of CGK Consulting Services Inc. and is independent of the Company. Mr. Keech does not hold any securities in the Company. Mr. Keech has reviewed the technical information in this news release and approves the written disclosure contained herein.
About Northstar
Northstar's primary exploration focus is to advance and expand the near-surface, Allied Gold Zone bulk- tonnage gold-telluride deposit and more recently discovered VMS copper mineral deposits on the Company's flagship, 100%-owned Miller Copper-Gold Property. The Company's strategy is to develop a material (+1M ounce gold / high-grade copper) mineral resource base to supplement a nearby mining operation or support stand-alone mining operations at the Property.
Other Properties
Northstar has 3 additional 100%-owned exploration projects in northern Ontario, including the 1,150 ha Rosegrove Property, situated 0.5 km from the Miller Property, the 4,650 ha Bryce Gold Property (includes the recently optioned Britcanna Lease), an intrusive-gold / PME VMS project located along the projected east extension of the Ridout Break, and the Temagami-Milestone Cu-Ni-Co Critical Minerals Property located in Strathcona Township. Northstar is seeking exploration partners to advance all 3 properties.
On behalf of the Board of Directors,
Mr. Brian P. Fowler, P.Geo.
President, CEO and Director
(604) 617-8191
bfowler@northstargoldcorp.com
Cautionary Note Regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained in this news release constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, disclosure regarding the completion of the Offering and potential gross proceeds to be raised pursuant thereto, the receipt of all applicable regulatory approvals, the prospective nature of the Company's property interests, exploration plans and expected results, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; planned use of proceeds, expenditures and budgets and the execution thereof. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the receipt of applicable regulatory approvals. availability of financing, the assumed long-term price of gold, that the current exploration and other objectives concerning its mineral projects can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; the continuity of the price of gold and other metals, economic and political conditions and operations; the prospective nature of the Company's properties, availability of financing, and that general business and economic conditions will not change in a materially adverse manner.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NSG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks and uncertainties related to the completion of the Offering as presently proposed or at all, the failure to obtain all applicable regulatory approvals; actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although NSG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and NSG assume no obligation to update any forward-looking statements, except as required by applicable laws.
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SOURCE: Northstar Gold Corp.
