Sixty North Gold Amends And Extends Its Earn-In Agreement With New Discovery Mines Ltd.
SIXTY NORTH GOLD AMENDS AND EXTENDS ITS EARN-IN AGREEMENT WITH NEW DISCOVERY MINES LTD.
VANCOUVER, British Columbia, April 28, 2020
Sixty North Gold Mining Ltd. (the “Company” or “Sixty North Gold”) – (CSE:SXTY, Frankfurt:2F4, OTC -
Pink:SXNTF). Further to the Company’s press release dated October 21, 2019, the Company is pleased to
announce that it has amended its agreement with New Discovery Mines Ltd. (“NDM”) to earn a 100% interest
in the past producing Mon Gold Property. The new agreement revises the milestones for the Company’s right
to earn up to a 100% interest in the Mon Gold Property, NWT, by incurring Expenditures of at least $6.0 million
on the Mon Gold Property (of which $2. 4 million has already been incurred), which right has been revised to
the following:
1. The Company shall pay NDM an extension fee of $150,000 on or before June 30, 2020;
2. On or before September 30, 2020, the Company shall deposit an additional $1.5 million to NDM to be
spent on the Property as agreed on the last approved budget; however, if substantial progress on a
new equity financing for the Property is made by that time, the parties in good faith shall agree to
extend this date to October 31, 2020;
3. On or before April 30, 2021, the Company shall deposit to NDM the balance of funds to make the
Company’s total investment in the Property equal to $6 million; however, if substantial progress on a
new equity financing f or the Property is made by that time, the parties in good faith shall agree to
extend this date to May 31, 2021; and
4. All other terms and conditions of the Earn-In Agreement not in conflict with the above shall remain in
full force and effect.
NDM is a private company partly owned and controlled by David Webb, Ph.D., P. Geol., P. Eng., the President
& CEO of Sixty North Gold.
John Campbell, Chairman and CFO of Sixty North Gold, said, “We are pleased to have agreed with NDM the
revised schedule to funding th e key milestones for the company, which should allow us to build the winter
road and deliver equipment to site early in 2021, in preparation for a bulk sample of the underground, former-
producing A-Zone. This schedule revision was required due to the disruptions to capital markets caused by the
COVID-19 crisis.”
About the Company
Sixty North Gold is engaged in acquisition, exploration and development of mineral properties. Its principal
target is the exploration for gold on the Mon Gold Property, 40 kms north of Yellowknife, NWT. The Mon Gold
Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 1,536.92 acres,
located in the South MacKenzie Mining District, NWT. For more information, please refer to the Company ’s
Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“John Campbell”
____________________________________
John Campbell,
Chairman, CFO and Director
For further information, please contact:
John Campbell, 604-961-0175
Email: [email protected]
Website: www.sixtynorthgold.com
Statements about the Company's future expectations and all other statements in this press release other than
historical facts are "forward looking statements". Such forward -looking statements are based on numerous
assumptions, and involve known and unknown risks, uncertainties and oth er factors, including risks inherent
in mineral exploration and development, which may cause the actual results, performance, or achievements
of the Company to be materially different from any projected future results, performance, or achievements
expressed or implied by such forward -looking statements. Further details about the risks applicable to the
Company are contained in the Company’s Prospectus dated January 19, 2018 available on SEDAR
(www.sedar.com), under the Company’s profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS
RELEASE.