Sixty North Gold Announces Unit Offering
SIXTY NORTH GOLD ANNOUNCES UNIT OFFERING
Vancouver – October 20, 2020 – Sixty North Gold Mining Ltd . (the “Company” or “Sixty North
Gold”) (CSE: SXTY; FKT: 2F4 ; OTC-Pink: SXNTF) Sixty North Gold proposes to complete a non -
brokered private placement of up to 11,538,462 units (the “ Units”) at an offering price of $0.0 65 per
Unit, to raise gross proceeds of up to $ 750,000 (the “ Offering”). Each Unit will consist of one (1)
common share of the Company and one (1) non-transferable share purchase warrant (the “ Warrants”).
Each Warrant will be exercisable to acquire one additional common share at an exercise price of $0. 10
per share for a period of two (2) years from the date of closing of the Offering. The terms of the Offering
are subject to satisfactory notice to the Canadian Securities Exchange. The Company may pay finder’s
fees in connection with this placement of 5.0% of the gross proceeds raised by an arm’s length finder.
The net pro ceeds from the Offering will be used to finance (together with funds a lready advanced or
available to the Company) the balance of Company’s required advance to New Discovery Mines Ltd.
(“NDM”) by October 31, 2020 pursuant to the Amended and Restated Earn-in Agreement between the
Company and N DM, as amended, for the Company’s acquisition of an 80% interest in the Mon Gold
Property, NWT, and working capital for general and administrative expenses. After completing this raise
and net of finders’ fees and expenses , we will advance $600,000 to NDM , which, in addition to the
$900,000 being advanced to them from the last raise, will meet ou r test of $1,500,000 by October 31,
2020. The $1.5 million will be deployed by NDM to fund the construction of a winter road and camp, and
to move our mining equipment sto red in Yellowknife to site, thereby enabling our bulk sample program
planned to commence in 2021. To date, the Company has incurred about $2.48 million out of the total of
$6.0 million in required total exploration wo rk on the M on Gold Property by April 30 , 2021 , unless
further extended. After this $1.5 million is fully advanced, the Company will n eed to advance a further
$2.08 million to earn its 80% interest on the Mon Gold Property. The Company can then increase its
interest in the Mon Property to 100% through issuance of shares equal to 25% of its outstanding shares to
NDM, with further issuances to maintain this 25% until $6 million has been spent on the A-Zone.
John Campbell, Chairman and Chief Financial Officer of Sixty North Gold, stated , “We are pleased to
have a financing mechanism in place which will keep us on track towards our earn -in milestone , and
achieving our twin goals of having a 100% interest in this former prod ucing and currently permitted-for-
production Canadian gold project, and having the mine back in full production by the Spring of 2022.”
About the Company
Sixty North Gold Mining Ltd. is fo cused on restart ing the high -grade past producing Mon Mine, 40 km
north of Yellowknife, NWT, within the prolific Yellowknife Gold Camp. The Com pany plans on
collecting a bulk sample below the previous stopes that averaged 30 gpt g old, and if warranted, in stall a
mill on site to process this material. Other targets on the property include recently discovered silver - and
gold-rich VMS targets as w ell as the gia nt shear zone -hosted gold mineralization. Permits to explore,
mine and m ill are in place and are subject to ongoing renewals. The Mon Gold Property consists of 11
contiguous mining leases and 3 mineral claims, comprising an aggregate 1,536. 92 acres, loca ted in the
South MacKenzie Mining District, NWT. For more information, please refer to the Company’s profile on
SEDAR (www.sedar.com) or visit the Company’s website at www.sixtynorthgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “David Webb”
David Webb,
President & Chief Executive Officer
For further information, please contact David Webb 604-818-1400
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, u ncertainties and other factors, including risks inherent in
mineral exploration and developmen t, which may cause the actual results, performance, or achievements of th e
Company to be materiall y different from any projected future results, performance, or a chievements expressed or
implied by such forward -looking statements. Further de tails about th e risks applicable to the Company are
contained in the Company’s Prospect us dated January 19, 2018 available on SEDAR ( www.sedar.com), under the
Company’s profile.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
United States. The securities have not been and will not be registered under the United States Securities Act of 1933,
as amended (the “U.S. Securities Act”) or any securities laws of any state of the United States and may not be
offered or sold within the United States or to a U.S. person (as defined in Regulation S under the U.S. Securities Act)
unless registered under the U.S. Securities Act and any applicable securities laws of any state of the United States or
an exemption from such registration requirements is available.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT
OF THIS PRESS RELEASE.
Not for distribution to United States newswire services or for
dissemination in the United States.