Sixty North Gold Announces Unit Offering
SIXTY NORTH GOLD ANNOUNCES UNIT OFFERING
Vancouver – December 7, 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 7,692,308 units (the “ Units”) at an offering price of $0.0 65 per Unit, to raise gross
proceeds of up to $ 500,000 (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 noti ce to the Canadian Securities Exchange. The Company may pay finder’s fees in
connection with this placement of 8.0% of the gross proceeds raised by an arm’s length finder.
The net proceeds from the Offering will be used to finance (together with funds al ready advanced or
available to the Company) the balance of Company’s required advance to New Discovery Mines Ltd.
(“NDM”) by December 31, 2020 pursuant to the Amended and Restated Earn -in Agreement between
the Company and NDM, 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, the Company will advance $750,000 to NDM, which, in addition to
the $750,000 advanced to them from previous raises, will meet ou r required funding of $1,500,000 by
December 31, 2020. The $1.5 million will be deployed by NDM to fund the construction of a winter road
and camp, to acquire smaller equipment and supplies, and to move our mining equipment stored in
Yellowknife to site, thereby enabling our planned bulk sample program to commence in 2021.
The financing round announced on October 20, 2020 has been closed off with $377,5 09 raised in two
closings as announced on October 29, 2020 and November 24, 2020.
John Campbell, Chairman and Chief Financial Officer of Sixty North Gold, stated , “We are pleased to
have a financi ng 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 producing 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 focused on restarting the high -grade past producing Mon Mine, 40 km
north of Yellowknife, NWT, within the prolific Yellowknife Gold Camp. The Mon Mine produced 15,000
ounces of gold from 15,000 tonnes of ore between 1989-1997. Permits to explore, mine and mill at 100
tpd are in place, and the Mon is the only gold project permitted for production in the NWT. Other
targets on the property include recently discovered silver - and gold-rich volcanogenic massive sulphide
(VMS) targets as well as the giant shear zone -hosted gold mineralization. The shear zone is similar in
nature to, and hosted in the same rocks as, the world -class deposits at the Con and Giant Mines in
Yellowknife which produced 14 million oz. gold. The Mon Gold Property consists of 11 contiguous
mining leases and 3 mineral claims, comprising an aggregate 622 hectares, located in the South
MacKenzie Mining District, NWT.
The company also has an option agreement to acquire a 100% interest in the highly prospective
contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South. The
Mon Property shear zone and VMS targets can be projected onto the Hangstone Property.
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 expectatio ns 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, includ ing 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 su ch forward -looking statements. Further details about the risks applicable to the Company are
contained in the Company’s Prospectus dated January 19, 2018 available on SEDAR ( www.sedar.com), under the
Company’s profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS
RELEASE.
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.
Not for distribution to United States newswire services or for
dissemination in the United States.