Announces Non-Brokered Flow-Through Private Placement Financing of Up to $1,000,000

NORTHSTAR GOLD CORP

P.O BOX 2529

New Liskeard, ON

POJ 1PO

Tel: (705) 676-6476

www.northstargoldcorp.com

For Immediate Release

Northstar

Announces Non-Brokered Flow-Through Private Placement

Financing of Up to $1,000,000

Vancouver, B.C., March 20, 2020. Northstar Gold Corp. (CSE: NSG) (“ Northstar” or the

“Company”), announces a non-brokered private placement financing (the “Offering”) of up to

3,500,000 units of the Company (the "Units") at a price of $0.29 per Unit (the “Unit Price”) for

gross proceeds of up to $1,000,000. Each Unit comprises one common flow-through share (a “FT

Share”) and one-half of one common share purchase warrant (a “Warrant”). Each Warrant entitles

the holder to purchase one additional common share of the Company at an exercise price of $0.43

for a period of 2 years from closing of the Offering.

All securities to be issued pursuant to the Offering will be subject to a 4-month hold period under

applicable securities laws in Canada.

The Company has engaged Canaccord Genuity Corp . and Haywood Securities Inc. to act as its

financial advisors for the offering. The Company may compensate persons who act as finders for

the Offering in accordance with the rules of the Canadian Securities Exchange (“CSE”).

The gross proceeds from the sale of the FT Shares will be used to incur eligible Canadian

Exploration Expenses ("CEE") at the Company's 100%-owned Miller Gold Property, situated 18

km southeast of Kirkland Lake, Ontario. The Company will renounce CEE effective on or before

December 31, 2020. The financing is expected to close on or about April 1, 2020.

About Northstar Gold Corp.

Prior to going public on the CSE on January 2, 2020 by way of a $3 million Initial Public Offering,

Northstar operated for the past 11 years as a private company focused primarily on gold

exploration in the prolific Kirkland Lake Dist rict in northeastern Ontario (>24.5 million ounces

gold produced from 7 mines since 1915). During this time, the Company raised nearly $7 million

to acquire and advance 3-100% owned gold and base-metal properties in the Kirkland Lake region.

Northstar has an accomplished Board, Special Advisor and Management Group comprised of

professionals highly experienced in exploratio n, mining, finance and investment banking on a

global basis. In late February, 2020, Norths tar commenced a $1.1 million Phase I exploration

program, which includes 3,000 m of drilling on its flagship, early-resource stage Miller Gold

Property, situated 18 km southeast of the town of Kirkland Lake and Kirkland Lake Gold’s

Macassa gold mine.

On behalf of the Board of Directors, For further information, please contact:

2

Mr. Brian P. Fowler, P.Geo. Derek Wood

President, CEO and Director Conduit IR

(604) 617-8191 (403) 200-3569

[email protected] [email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER

HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS

RELEASE.

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THE UNITED STATES

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information"

within the meaning of applicable secu rities law. Forward-looking information is frequently characterized

by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar

words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements

are based on the opinions and estimates at the date the statements are made, and are subject to a variety

of risks and uncertainties and other factors that could cause actual events or resu lts to differ materially

from those anticipated in the forward-looking st atements including, but not limited to delays or

uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in

forward-looking information, including factors bey ond the Company's control. The Company undertakes

no obligation to update forward-looking informat ion if circumstances or management's estimates or

opinions should change except as required by law. The reader is cautioned not to place undue reliance on

forward-looking statements. Additio nal information identifying risks and uncertainties that could affect

financial results is contained in the Company's filings with Canadian securities regulators, which filings

are available at www.sedar.com.