Sixty North Gold Announces Unit Offering Closed
SIXTY NORTH GOLD ANNOUNCES UNIT OFFERING CLOSED
Vancouver, British Columbia--(Newsfile Corp. – July 12, 2021) – Sixty North Gold Mining Ltd. (CSE: SXTY;
FKT: 2F4; OTC-Pink: SXNTF) (the “Company” or “Sixty North Gold”)
Further to the news release of July 5, 2021 where the Company announced plans to complete a non -
brokered private placement of up to 23,076,923 units (the “Units”) at an offering price of $0.065 per Unit,
to raise gross proceeds of up to $1.5 million (the “Offering”), Sixty North Gold is pleased to report that it
has closed on 21,981,150 units raising gross proceeds of $1, 428,774.75. Each Unit consisted of one (1)
common share (a “Share”), and one (1) non-transferable share purchase warrant (a “Warrant”), with each
Warrant being exercisable t o purchase one (1) additional Share at an exercise price of $0.10 per Share
until July 9, 2023. The securities for the Offering will bear legends restricting resale until November 10,
2021.
The net proceeds of the Offering will be used for further explorat ion and development of the Mon Gold
Property, NWT, and the Company’s general working capital requirements.
About the Company
The Mon Mine produced 15,000 ounces of gold from 15,000 tonnes of ore between 1989 and 1997,
operating on a seasonal basis to a depth of 15 m below surface , with gold prices generally averaging
between US$350 and US$400 per ounce . Permits to mine and mill at 100 tpd are in place, making the
Mon Mine the only gold project permitted for production in the NWT. Crews are currently on site and
mining will commence once the infrastructure is in place and operating properly. The Company plans to
drive a ramp to depth below the old stopes, and to extract a bulk sample confirming grade and continuity.
Management believes the similarity to the Discovery Mine, located to the north of the Mon Property
where 1 million ounces were mined from 1 million tons of ore, indicates the potential for the Mon Mine.
Other targets on the property include recently discov ered silver - and gold -rich volcanogenic massive
sulphide (VMS) targets, as well as shear zone-hosted gold mineralization. The shear zones are 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 Company also has an option agreement to acquire a 100% interest in the highly prospective and
contiguous 2,394 hectare Hangstone Property adjoining the Mon Property to the East and South from an
independent prospector. The Mon Property shear zone and VMS targets can be projected onto the
Hangstone Property. Geochemical samples have been collected and are being shipped for analysis.
For more information, please refer to the Company’s profile on SEDAR (www.se dar.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, 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 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.