55 North Mining Secures 100% Ownership of the Last Hope Gold Project
55 North Mining Secures 100% Ownership of the Last Hope Gold Project
Toronto, Ontario – January 7, 2026 – 55 North Mining Inc. (CSE:FFF) (FSE:6YF) (“55 North”
or the “Company”) is pleased to announce that it has completed the required property payment
on its Last Hope Gold Project (the “Project”), resulting in 55 North now owning 100% of the
property.
With the property payment complete, 55 North has initiated mobilization of a drill rig to the Project
site and expects to commence drilling in mid-January as part of its 2025–2026 drill program. The
Company anticipates providing drill results approximately eight to ten weeks following completion
of drilling, subject to laboratory turnaround times.
Drill Program Objective: Grow the Resource
The planned drill program will focus on step-out drilling to the south of the Company’s existing
zones. The Company plans to drill fences comprised of two to three holes approximately every
120 metres along strike, expanding the footprint of known mineralization and testing for potential
extensions over an approximately 800-metre strike length.
“Securing full ownership of Last Hope is a major milestone for 55 North,” said Bruce Reid, CEO
of 55 North Mining. “With drilling expected to begin in mid-January, we will focus on step-out
drilling designed to test potential extensions of known mineralization and support an updated
geological model. The results from this program will guide our plans for an updated mine ral
resource estimate later in 2026.”
Updated Resource Estimate Expected Later in 2026
Following the 2025–2026 drill program, 55 North plans to deliver an updated mineral resource
estimate later in the year, integrating the new drill results. The previous mineral resource estimate
at the Last Hope Gold Project was completed in September 2021 based on a US$1,650/oz gold
price. With gold prices now materially higher, updated price assumptions may support a lower
cut-off grade and a larger reported resource.
Upcoming Catalysts
• Mid-January 2026: Drill program commencement
• Following Completion (approx. 8-10 weeks): Drill results expected (subject to laboratory
turnaround)
• Later in 2026: Updated mineral resource estimate
Qualified Person
Peter Karelse, P.Geo. a “qualified person” as defined under National Instrument 43-101, has
reviewed and approved the scientific and technical information contained in this release. Peter
Karelse is not independent of 55 North Mining, as he is the Company’s Head of Exploration.
About 55 North Mining Inc.
55 North Mining Inc. is a Canadian exploration and development company advancing its high-
grade Last Hope Gold Project located in Manitoba, Canada.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer
55 North Mining Inc.
Phone: 647-500-4495
Mr. Vance Loeber
Corporate Development
Phone: 778-999-3530
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 timing of mobilization and drilling, the
expected timing of drill results, the scope and objectives of the drill program, and the timing and
completion of an updated mineral resource estimate.
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: delays in mobilization or drilling; weather, logistics and site conditions; availability of
equipment, personnel and contractors; receipt and timing of assay results; exploration results not
being consistent with expectations; and general market conditions.