NLR News Release (July 20, 2026)
Northern Lights Appoints Guy Mahaffy
as Chief Executive Officer to Lead Next Phase of Growth
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Vancouver, BC – July 20, 2026 – Northern Lights Resources Corp. (CSE: NLR) (OTC: NLRCF)
(FSE: 0ZH0) (“Northern Lights” or the “Company”) is pleased to announce the appointment of
Guy Mahaffy as Chief Executive Officer, effective immediately.
Mr. Mahaffy brings over 25 years of experience spanning the mining industry, capital markets and
corporate development. He has served as an officer and director of several mineral exploration
companies and has helped execute a number of successful acquisitions, divestitures , IPOs and
financings. This experience includes serving as the Chief Financial Officer of Wallbridge Mining
Company Limited until shortly before the spinout of Duluth Metals Limited , and as independent
Chair of the Board of Directors of Manitou Gold Inc., until its acquisition by Alamos Gold Inc.
Mr. Mahaffy holds the professional designations of Chartered Financial Analyst , Chartered
Accountant and Chartered Professional Accountant , as well as a master’s degree from the
University of Waterloo. The Board believes his combination of executive leadership, transaction
experience and capital markets expertise is well aligned with Northern Lights ’ priorities as the
Company advances its exploration portfolio.
Luka Capin, outgoing CEO of Northern Lights, has stepped down as Chief Executive Officer and
will continue to serve as a director, supporting continuity in the Company’s corporate development
activities throughout the leadership transition . Mr. Capin commented "Leading Northern Lights
through its transformation alongside our stakeholders has been a privilege. The Company is now
well capitalized, supported by strong partners and positioned for its next phase of growth. I am
proud to hand the reins to Guy, whose experience is ideally suited to guide Northern Lights
forward. I look forward to supporting him and the Company through the transition."
“I am grateful to Luka and the Board for the support and the opportunity to lead Northern Lights
at this important stage,” stated Mr. Mahaffy. “The Company has established a strong platform for
growth and my focus will be on disciplined execution as we advance the portfolio, drill priority
targets, and move each project through clear technical decision points. I look forward to working
with the team to build Northern Lights into a leading exploration company and creating long-term
value for shareholders.”
In connection with Mr. Capin's transition, the Company has cancelled 800,000 previously granted
incentive stock options held by Mr. Capin pursuant to the terms of his resignation agreement.
The Company has granted 800,000 incentive stock options to Mr. Mahaffy pursuant to the
Company's Stock Option Plan. The options are exercisable at a price of $0.10 per common share
for a period of two years from the date of grant and vest one -third after three months, one-third
after six months, and the remaining one -third twelve months from the date of grant. The stock
option grant remains subject to the policies of the Canadian Securities Exchange.
For Further Information
Guy Mahaffy
Chief Executive Officer
Email: [email protected]
Tel: +1 (236) 232-0988
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth- oriented mineral exploration and development
company advancing three key projects: the Horetzky Copper Project, located in the Babine
Porphyry belt of central British Columbia, the Pup Copper Project in the Yukon, and the 100%
owned, Secret Pass Gold Project located in Arizona.
Northern Lights trades under the ticker “NLR” on the CSE, on the OTC under the ticker “NLRCF”,
and on the FSE under the ticker symbol “ 0ZH0”. This and other Northern Lights news releases
can be viewed at www.sedarplus.ca and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release contains forward -looking statements and forward- looking information within the meaning of
applicable Canadian securities laws (collectively, "forward -looking statements "). Forward-looking statements
include, but are not limited to the Company's future exploration activities, and its corporate plans and objectives.
Forward-looking statements are generally identified by words such as "anticipates", "expects", "intends", "plans",
"believes", "estimates", "may", "could", "would", "will", or similar expressions. Forward-looking statements are based
on management's current expectations, assumptions and estimates as of the date of this news release and involve
known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially
from those expressed or implied by such forwar d-looking statements. These risks and uncertainties include, without
limitation, risks relating to the Company's exploration activities, changes in market conditions, the Company's ability
to execute its business plans, and other risks described in the Company's public disclosure documents available under
its profile on SEDAR+.
Readers are cautioned not to place undue reliance on forward -looking statements. Although the Company believes
that the assumptions and expectations reflected in the forward-looking statements are reasonable as of the date hereof,
there can be no assurance that such statements will prove to be accurate. The Company undertakes no obligation to
update or revise any forward-looking statements, except as required by applicable securities laws.