Vancouver, British Columbia--(Newsfile Corp. - October 9, 2025) - Northstar Gold Corp. (CSE: NSG) ("Northstar" or the "Company"), is pleased to announce the signing of a Surgical Mining Services Agreement (the "Agreement") with Novamera Inc. ("Novamera") to deploy their patented Turnkey Surgical Mining technology from surface to mine high-grade copper from Zone 2 at Northstar's historic Cam Copper Mine1,2,3 (the "Cam Copper Project", or "Project") situated 18 kilometres southeast of Kirkland Lake, Ontario at the Company's 100%-owned Miller Copper-Gold Property.
The Agreement and previously signed Letter of Intent ("LOI") (Please see Northstar News Release dated July 23, 2025) is predicated on Novamera's recent positive "Zone 2 Proposed Development and Surgical Mining Evaluation Study" (Please see Northstar News Release dated June 26, 2025) and Northstar's recently announced near surface 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% copper4 (Please see Northstar News Release dated June 12, 2025).
Agreement Highlights
Purpose:
The Agreement provides for the deployment of Novamera's Surgical process on the near-surface, high-grade Zone 2 volcanogenic massive sulphide (VMS) horizon at Cam Copper. The objective is to determine whether the mineralization is technically and environmentally suitable for this precision, low-impact extraction method. Novamera's Surgical Mining represents a transformative, data-driven approach to unlocking high-grade, steeply dipping tabular deposits, such as Northstar's Zone 2. Currently being deployed at Great Atlantic's Golden Promise project in Newfoundland, this method significantly reduces capital expenditures (CAPEX), accelerates the time to first production, and minimizes environmental and social impacts.
Scope:
The Agreement scope of work envisages Novamera deploying its proprietary turnkey Surgical Mining solution (the "Turnkey Solution") to extract a conceptual 116,000 tonnes of Zone 2 material using 93 extraction holes over an estimated period of 31 months.5
Novamera's Turnkey Solution integrates simulation, real-time downhole imaging, data analytics positioning and steering technologies with conventional large-diameter drilling to selectively extract mineralized material and subsequent void backfilling. The Agreement includes simulation, planning, permitting support, and site preparation phases leading to a potential pilot program, subject to receipt of required permits and financing.
Funding and Cost Structure:
Under the Agreement, Northstar will provide an advance payment of US $1.535 million, in staged installments, to support planning, logistics, and equipment readiness once permitting and financing conditions are met. Novamera has been assisting Northstar by introducing prospective financial and strategic partners to fund the Project.
Northstar's Cam Copper Project financing strategy is underpinned by leveraging CAPEX and operational expense against future revenue by way of non-dilutive advanced royalty financing(s), government grants, offtake agreement, service provider partnership agreements and equity private placement offering(s) to position current and select new strategic investors as required. Financing efforts are ongoing, and further details will be provided in the near term.
Compensation Framework:
Should the Project proceed, Novamera would be compensated through a variable tonnage rate and monthly service fee, and, if successful, could earn a 5 percent Net Smelter Return (NSR) revenue share on future production from material extracted using its Turnkey Solution.
Right of First Refusal:
Novamera holds a five-year right of first refusal to apply its technology and the Turnkey Solution on other Miller and Boston Creek area deposits that are determined, through further evaluation, to be technically suited to Surgical Mining.
Management Commentary
Brian P. Fowler, P.Geo., President, CEO and Director of Northstar, stated: "Executing this Agreement with Novamera marks a key milestone in our effort to apply Surgical Mining to provide a low-impact, cost-effective path to evaluate and potentially extract high-grade copper at Cam Copper. This collaboration allows Northstar to advance the Project responsibly while minimizing capital risk and environmental disturbance. The results from upcoming technical work and our pending NI 43-101 Technical Report will guide the next steps toward establishing an economic framework for the Project."
Jim Hollis, CEO of Novamera, added, "We are excited to work with the Northstar team to help them unlock cash flow using our precision mining technology at Cam Copper. Our approach integrates data, sensors, automation, and robotics to quickly and sustainably unlock narrow-vein deposits with minimal footprint-offering the potential for a new standard in small-scale, responsible mineral extraction."
Next Steps
Northstar is advancing toward issuance of a Notice-to-Proceed under the Agreement by obtaining the necessary permits and project financing. The Company also intends to commission an NI 43-101-compliant Technical Report and Mineral Resource Estimate on the Cam Copper Project to formally evaluate the deposit's Reasonable Prospects for Eventual Economic Extraction before making any production or development decision.
Footnotes
1 Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File KL-0843, Prospectus of Fidelity Mining Investments Ltd. 1962.
2 Ontario Ministry of Energy, Northern Development and Mines Mineral Deposit Inventory Record MDI31M13NW000154: Tretheway-Ossian- 1981, Ch.H. Cameron-1981.
3 Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File KL-0259, Tretheway-Ossian (Cam Copper Mine). 1961
4 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.
5 The above scope of work is a preliminary conceptual estimate based on early-stage evaluation and does not constitute a production decision. A NI43-101 reporting compliant Mineral Resource Estimate and supporting Technical Report are required to determine whether the Project has Reasonable Prospects for Eventual Economic Extraction.
Cam Copper Surgical Mining Project
The Cam Copper Mine. Zone 2 is interpreted to contain copper-rich, Besshi-style volcanogenic massive sulphide (VMS) mineralization-primarily chalcopyrite and bornite-extending from surface to a depth of approximately 200 metres, over a strike length of ~125 metres and an average width of 1 metre. The high-grade mineralization remains open at depth, plunging southeast at -71 degrees along a well-defined VMS feeder structure.
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 surface1. 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 Target4 results corroborate these historic estimates.
Novamera's innovative Surgical Mining solution is well-suited to exploit Zone 2 copper mineralization with minimum mining dilution and environmental impact. This is facilitated by rotary drilling large-diameter holes from the surface, targeting Zone 2 copper mineralization. The resulting broken rock is recovered and shipped directly to a nearby mill for processing. The process comprises data-driven hardware and software solutions that guide the drilling process and minimize dilution. Once drilled, the holes can be immediately reclaimed to provide structural support to the mine with a minimal environmental footprint on surface.
Northstar and Novamera have entered into a strategic agreement for the Cam Copper Project, with due diligence and implementation planning underway over the next several months. Novamera will earn a 5% revenue share from the Project. With a low upfront capital requirement of approximately US $1.5 million and the remainder of project capital costs structured off balance sheet, Novamera's approach offers an attractive risk-adjusted return profile. The Company is also actively pursuing non-dilutive funding to accelerate project initiation.
Qualified Person
The scientific and technical information related to the Exploration Target contained in this news release has been reviewed by Christopher Keech, P.Geo., a Qualified Person as defined by NI 43-101 and Principal Geologist of CGK Consulting Services Inc., who is independent of the Company. Mr. Keech has verified that the information herein is consistent with Northstar's previously disclosed data and prior technical studies.
Cautionary Note to Investors
No mineral resource or reserve has yet been defined on the Cam Copper Project. All references to "mining," "production," "ore," or similar terms are used for descriptive purposes only and do not imply that an economic deposit has been demonstrated or that a production decision has been made. Additional exploration, engineering, and economic studies including a NI 43-101 Technical Report will be required to determine the Project's economic viability.
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.
About Novamera
Founded in 2019, Novamera has developed a proprietary technology ecosystem that enables Surgical Mining, a precision, low-impact method for extracting high-value narrow-vein deposits. By integrating downhole sensors, robotics, software, and AI with standard drilling equipment, Novamera offers a capital-light, scalable solution that dramatically reduces time to production. The turnkey system unlocks stranded resources and delivers faster payback, lower costs, and improved ESG outcomes, addressing critical needs in the global supply of precious and critical minerals.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269736
SOURCE: Northstar Gold Corp.
