Sixty North Gold Mining Announces a Unit Offering
SIXTY NORTH GOLD MINING ANNOUNCES A UNIT OFFERING
VANCOUVER, Bri.sh Columbia -- (Newsfile Corp. – April 17, 2024) Sixty North Gold Mining Ltd.
(CSE: SXTY , FKT: 2F40, OTC-Pink: SXNTF) (the “Company” or “Sixty North Gold”)
Sixty North Gold proposes to complete a non-brokered private placement of up to 13,800,000
units (the "Units") at an offering price of $0.05 per Unit, to raise gross proceeds of up to
$690,000 (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 addi.onal common share at an exercise price of $0.08 per share for a
period of one (1) year from the date of closing of the Offering, provided that if the closing
market price for the Issuer's common shares on the Canadian Securi.es Exchange (“CSE”) is
greater than $0.16 per share for a period of ten (10) consecu.ve trading days, then the
Company may deliver a no.ce (the "No.ce") to the Purchaser no.fying such Purchaser that the
Warrants must be exercised within thirty (30) days from the date of delivery of such No.ce,
otherwise the Warrants will expire at 4:00 p.m. (Vancouver .me) on the thirty-first (31st) day
aher the date of delivery of the No.ce. The terms of the Offering are subject to sa.sfactory
no.ce to the Canadian Securi.es Exchange. The Company may pay finder's fees in connec.on
with this placement of 10.0% of the gross proceeds raised by an arm's length finder .
The net proceeds from the Offering will be used to fund claim maintenance, con.nued
explora.on and development of the Company’s proper.es, as well as general corporate
purposes.
Dr . D.R. Webb Ph.D., P .Geol., P .Eng. is the QP within the meaning of NI 43-101 and is
responsible for the technical details of this release.
About the Company
The Company is developing mining opera.ons for gold on its 100%-owned Mon Gold Property,
40 km north of Yellowknife, NWT . Past produc.on extracted 15,000 tonnes of ore to depths of
only 15 m below surface, recovering an es.mated 15,000 ounces of gold in the 1990’s (NI
43-101, August 2023). There is a discrepancy between the reconciled produc.on grade (30.7
gpt) and the grade reported for royalty and tax purposes (10.02 gpt). The former reconciles
tailings grade and recoveries and matches sample grades completed by the Company whereas
the laner figure is unsupported. The North Ramp has been reopened and has been extended to
within 60 m of the target por.on of the vein. The Company plans to extend the ramp to where
some high-grade historic holes intersected the vein beneath the previously mined stopes. The
plan is to install cross-cuts and raises within the vein to extract and stockpile the vein material
on surface. Upon confirma.on of the grade and tonnage, a permined mill will be brought in to
process this and ongoing mined material.
The property also hosts an outcropping precious-metals rich VMS showing and has four
modeled geophysical targets along strike within felsic tuffs, lithic and lapilli tuffs. There are
plans to drill these when it is appropriate.
For more informa.on, please refer to the Company’s public filings available on SEDAR
(www.sedar .com), 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.sedar .com), under the Company’s profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE
CONTENT OF THIS PRESS RELEASE.
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