55 North Cuts 19.42 m of 2.49 g/t Au Including 4.50 m of 5.34 g/t Au Extends Last Hope Gold Mineralization 300 Metres Along Strike
55 North Cuts 19.42 m of 2.49 g/t Au Including 4.50 m of 5.34 g/t Au
Extends Last Hope Gold Mineralization 300 Metres Along Strike
Toronto, Ontario – July 7, 2026 – 55 North Gold Inc. (CSE:FFF) (FSE:6YF) (“55 North”
or the “Company”) is pleased to report that its 2026 winter diamond drill program on its
Last Hope Gold Deposit has extended the gold mineralization 300 metres beyond the limit
of the current mineral resource estimate. 55 North’s Last Hope Gold Deposit is located in
northern Manitoba, Canada, 10 kilometres south of Alamos Gold’s Lynn Lake Project.
Highlights from 55 North’s drill program include:
● LH26-02: 2.49 g/t Au over 19.42 m starting at 211.58 metres downhole
o including 4.50 m grading 5.34 g/t Au
● LH26-04: 6.91 g/t Au over 2.56 m starting at 138.90 metres
o including 1.33 m grading 12.60 g/t Au
● LH26-04: 7.61 g/t Au over 1.50 m
● LH26-07: 13.60 g/t Au over 1.00 m
Drilling demonstrated excellent internal grade continuity within the resource area, while
southeast step-out holes confirmed the system remains open along strike and down-plunge,
consistent with the geological model (see Figure 1).
Table 1 – Summary of Results 2026 Winter Drill Program (1)
Drill Hole ID From To Interval Au Grade
(metres) (metres) (metres) (g/t)
LH26-01 135.48 137.50 2.02 2.33
LH26-02 211.58 231.00 19.42 2.49
including 211.58 213.00 1.42 5.49
and 217.50 222.00 4.50 5.34
and 229.50 231.00 1.50 8.71
LH26-03 207.00 209.69 2.69 2.83
LH26-04 138.90 141.46 2.56 6.91
including 140.13 141.46 1.33 12.60
193.50 195.00 1.50 7.61
LH26-05 356.20 357.20 1.00 5.66
LH26-06 NSV
LH26-07 218.00 219.00 1.00 13.60
(1) Intervals above are drill indicated core length. True widths are estimated to be 75-85% of the reported downhole intervals. Average grades
are calculated with un-capped gold assays.
“Results from our successful winter drill program have returned multiple high -grade gold
intercepts, reinforcing continuity within the current resource envelope, infilling critical gaps,
and extending the mineralized system along strike to the southeast,” said Wayne Parsons,
CEO of 55 North. “We are excited for the new team to capitalize on this momentum and drive
the Last Hope Gold Project forward with more high-grade intercepts and an updated resource
estimate.”
Figure 1 – Long Section 2026 Winter Drill Program
The 2026 Last Hope Gold Project drill program consisted of seven diamond drill holes
designed to both infill gaps within the current resource model and step -out to the southeast
to test the extension of the shear zone-hosted gold system. All holes successfully intersected
the targeted structures, returning visible quartz veining with disseminated pyrite and strong
assay results. These new intersections are expected to contribute to ongoing targeting for
upcoming drilling in support of an updated mineral resource estimate.
Table 2 – Drillhole Information 2026 Winter Drill Program
Drill Hole
ID
Easting Northing Elevation Length Azimuth Dip
NAD83Z14 NAD83Z14 (metres) (metres) (degrees TN) (degrees)
LH26-01 387757 6282260 1075 172 045 -50
LH26-02 387757 6282260 1075 279 045 -70
LH26-03 387836 6282162 1067 298 045 -70
LH26-04 387910 6282066 1064 237 045 -50
LH26-05 387474 6282319 1074 487 045 -70
LH26-06 387540 6282384 1084 354 045 -65
LH26-07 387540 6282384 1084 250 045 -45
QA/QC
55 North has implemented a quality control program to comply with industry “best practices”
for sampling, chain of custody and analyses. Certified gold reference standards, blanks and
duplicates are inserted at the core processing site as part of the QA/QC program in addition
to the control samples inserted by the lab. Samples are prepared and analyzed by
Geoanalytical Laboratories in Saskatoon. Samples are analyzed for gold using Fire Assay -
AA techniques. Overlimit samples are re-analyzed using Fire Assay-Gravimetric methods.
Lynn Lake Gold District
Alamos Gold's Lynn Lake Gold Project, comprising the Gordon, MacLellan, Linkwood, and
BT deposits, hosts combined Proven and Probable Mineral Reserves of 3.436 million ounces
of gold at 1.25 g/t Au contai ned within 85.4 million tonnes, with additional Measured and
Indicated Mineral Resources of 0.885 million ounces of gold at 1.27 g/t Au contained within
21.7 million tonnes, and Inferred Mineral Resources of 0.308 million ounces of gold at 0.80
g/t Au contained within 11.9 million tonnes.
The Lynn Lake Gold Project, currently under construction, is expected to average 186,000
ounces over its initial 10 years with total production estimated at three million ounces over
the life-of-mine. Initial production is expected to commence in the first half of 2029. The Last
Hope Gold Project is located approximately 10 km southeast of Alamos Gold’s Linkwood and
BT deposits.
NOTE: The information regarding Alamos Gold’s Lynn Lake Gold Project is taken from
publicly available sources and has not been independently verified by 55 North Gold Inc. or
its Qualified Person. Readers are cautioned that the Company has no interest in t he Lynn
Lake project and the proximity of the Last Hope Gold Project to Alamos Gold’s deposits does
not imply that similar mineralization or economic results will be encountered on the
Company’s property.
About 55 North Gold Inc.
55 North Gold Inc. is a Canadian exploration and development company advancing its 100%
owned high-grade Last Hope Gold Project. The 2021 NI 43 -101 mineral resource estimate
(“MRE”) for the Last Hope Gold Deposit is 71,100 ounces of Indicated gold resources at 5.41
g/t Au contained within 0.4 million tonnes and 273,800 ounces of Inferred gold resources at
5.48 g/t Au contained within 1.5 million tonnes. The deposit remains open both down-plunge
and along strike, highlighting strong exploration potential for resource expansion throug h
additional drilling.
The Mineral Resource estimate for the Last Hope Gold Project is based on the 2021 NI 43 -
101 Technical Report. Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. There is no certainty that all or any part of the Mineral
Resources will be converted into Mineral Reserves. The estimate remains open down-plunge
and along strike. Investors are cautioned that the Company has not completed a Preliminary
Economic Assessment, Pre-Feasibility Study, or Feasibility Study on the Project and there is
increased uncertainty and specific economic and technical risks of failure associated with any
production decision based on the current mineral resource estimate.
Qualified Person
The technical content of this n ews release has been reviewed and approved by Michael
Thompson, P.Geo., Qualified Person (“QP”) as defined in National Instrument 43 -101,
Standards of Disclosure for Mineral Projects.
For further information, please visit the Company’s website at www.55northmining.ca.
ON BEHALF OF THE BOARD OF DIRECTORS:
Wayne Parsons
President and CEO
Phone: 519-871-3998
Email: [email protected]
For Further Information, Please Contact:
Bruce Reid
Executive Chairman
Phone: 647-500-4495
Email: [email protected]
All mineral resource and mineral reserve estimates disclosed in this news release have been
prepared in accordance with National Instrument 43 -101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum
(“CIM”) Definition Standards on Mineral Resources and Mineral Reserves, adopted by the
CIM Council, as amended. Readers are cautioned that Mineral Resources are not Mineral
Reserves and do not have demonstrated economic viability. The estimate of Mineral
Resources may be materially affected by environmental, permitting, legal, title, taxation,
socio-political, marketing, or other relevant issues. Inferred Mineral Resources ha ve a high
degree of uncertainty as to their existence, and as to whether they can be mined economically
or legally. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever
be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains “forward -looking statements” and “forward -looking information”
within the meaning of applicable securities laws. Forward -looking statements in this news
release include, but are not limited to, statements regarding the interpretation of drill results,
the planning and scope of follow -up drilling, the integrati on of drill data into the geological
model, the timing of an updated mineral resource estimate, and the Company’s expectations
regarding future exploration and development of the Last Hope Gold Project.
Forward-looking statements are based on management’s expectations and assumptions as
of the date hereof and are subject to known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to differ materially from
those expressed or implied by such forward-looking statements. Such risks and uncertainties
include, but are not limited to: the interpretation of geological and assay data; receipt and
timing of remaining assay results; exploration results not being consistent with expectations;
weather, logistics and site conditions; availability of equipment, personnel and contractors;
commodity price fluctuations; and general market conditions. Drill intercepts reported in this
release are core lengths; true widths have not yet been determined.
Although management believes the assumptions and expectations reflected in such forward-
looking statements are reasonable, there can be no assurance that such assumptions and
expectations will prove to be correct. Forward-looking statements are made as of the date of
this news release and the Company disclaims any intention or obligation to update or revise
any forward -looking statements, whether as a result of new information, future events or
otherwise, except as required by law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this news release.