Sixty North GOLD Announces Non-Brokered $1,500,000 Unit Offering
SIXTY NORTH GOLD ANNOUNCES NON-BROKERED $1,500,000 UNIT OFFERING
VANCOUVER, British Columbia -- (Newsfile Corp. – January 13, 2025) Sixty North Gold
Mining Ltd. (CSE: SXTY, FKT: 2F40, OTC-Pink: SXNTF) (the “Company” or “Sixty
North Gold”) is pleased to announce that the Company intends to complete a non-
brokered financing of up to 6,000,000 units (the “Units”) at an offering price of $0.25 per
Unit to raise gross proceeds of up to $1,500,000 (the “Offering”) subject to applicable
securities laws and CSE policies.
Each Unit will be comprised of one Share and one-half of one common share purchase
warrant of the Company (each whole warrant, a “Warrant”). Each Warrant will be
exercisable to purchase one additional Share at a price of $0.30 for a period of one (1)
year from the Closing Date.
Eligible finders will receive up to 8% fees in cash and 8% in warrants on the proceeds
received by Sixty North Gold from investors introduced to the Company. Leede Financial
Inc. of Vancouver, Canada has agreed to act as a Finder for the transaction. The
securities underlying the Units will be subject to a hold period legend restricting resale
until four months and a day from their date of issuance.
The proceeds from the Offering will be used for further exploration and development of
the Mon Gold Property located in NWT, and for the Company’s general working capital
requirements.
Insiders of the Company will be permitted to participate in the Offering. Such participation
would be considered to be “related party transactions” within the meaning of Exchange
Policy 5.9 (“Policy 5.9”) and Multilateral Instrument 61-101 Protection of Minority Security
Holders in Special Transactions (“MI 61-101”) adopted in Policy 5.9. The Company
intends to rely on the exemptions from the formal valuation and minority shareholder
approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-
101 in respect of related party participation in the Offering as neither the fair market value
(as determined under MI 61-101) of the subject matter of, nor the fair market value of the
consideration for, the transaction, insofar as it involves the related parties, will exceed
25% of the Company’s market capitalization (as determined under MI 61-101).
About the Company
Sixty North Gold is developing mining operations for gold on its 100-per-cent-owned Mon
Gold Project. Mining in the 1990’s extracted 15,000 tonnes of ore to depths of only 15
metres below surface, recovering an estimated 15,000 ounces of gold in the 1990s
(Company Technical Report NI 43-101, August 3, 2023 on SEDAR or
https://sixtynorthgold.com/projects/technical-report/). Recently, underground
development has intersected the productive A-Zone 17 m below the historic stopes as
well as a newly identified zone, the DD-Zone in the main ramp. The company plans to
develop and mine stopes in the East Limb, West Limb and DD Zone and to extend the
ramp to allow for the development of deeper levels.
The silver-rich VMS deposits (https://sixtynorthgold.com/projects/volcanogenic-massive-
sulphide-vms-deposits/), the large shear zone-hosted gold targets
(https://sixtynorthgold.com/projects/shear-zones/), and the critical-element-enriched
IOCG-style mineralization (https://sixtynorthgold.com/projects/iocg-target/) will be
explored and developed as warranted.
The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better
(Discovery Mine with one million ounces of gold produced, and Sixty North Gold’s Mon
Mine), and two that averaged 15 gpt or better for a total production of over 14 million
ounces of gold (Con Mine and Giant Mine); (ref. Company Technical Report NI 43-101,
August 3, 2023).
The technical content of this release has been reviewed and approved by Dr. D.R. Webb,
P.Geol, P.Eng., President and CEO of Sixty North Gold Mines Ltd.
For more information, please refer to the Company’s public filings available on SEDAR+
(www.sedarplus.ca), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dave Webb”
Dave Webb, President & CEO
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
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 other 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 public filings available
on SEDAR+ (www.sedarplus.ca), under the Company’s profile.
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