55 North Mining

Investor Insight

55 North Mining is advancing the high-grade Last Hope Gold Project in Manitoba’s Lynn Lake district, where an existing NI 43-101 resource, ongoing exploration upside and proximity to Alamos Gold’s planned 10,000-tonne-per-day mill position the company for continued resource growth and strategic development opportunities.

Overview

55 North Mining (CSE:FFF,FSE:6YF) is a Canadian exploration and development company focused on advancing the 100 percent-owned Last Hope Gold Project in the Lynn Lake region of northern Manitoba. The company is focused on expanding and advancing its existing high-grade gold resource through systematic drilling and technical evaluation in an established mining district.

The Last Hope project hosts a current NI 43-101 mineral resource totaling 71,100 ounces indicated grading 5.41 g/t gold and 273,800 ounces inferred grading 5.48 g/t gold. The deposit remains open at depth and along strike, with ongoing exploration focused on extending high-grade shoots and expanding the resource footprint.

55 North benefits from its proximity to Alamos Gold’s Lynn Lake project, where construction of a 10,000-tonne-per-day processing facility commenced in 2025 and is scheduled for completion in the second half of 2027. Management is evaluating the potential for Last Hope to contribute as a satellite deposit or toll milling opportunity, subject to further technical and economic studies.

The company is led by a management team with technical, operational and capital markets experience in the Lynn Lake district. Members of the team were previously involved in Carlisle Goldfields, which was acquired by Alamos Gold in 2016, providing direct experience advancing and developing mining assets in the region.

Company Highlights

• Established high-grade resource: Last Hope hosts an NI 43-101 mineral resource of 71,100 ounces indicated grading 5.41 g/t gold and 273,800 ounces inferred grading 5.48 g/t gold.
• Expansion potential: Mineralization remains open down-plunge and along strike to the southeast.
• Strategic location: The project is located approximately 20 kilometres southeast of Lynn Lake, Manitoba, near Alamos Gold’s Lynn Lake development.
• Nearby mill infrastructure: Alamos Gold is constructing a 10,000-tonne-per-day processing facility at Lynn Lake, targeted for completion in the second half of 2027.
• Potential processing synergies: Management is evaluating toll milling and satellite deposit opportunities, subject to further technical and economic studies.
• Established mining jurisdiction: The project benefits from road access, rail infrastructure, power and proximity to the Lynn Lake Airport.
• Community agreements in place: 55 North has signed Impact Benefit Agreements with the Marcel Colomb First Nation in 2023 and 2025.
• Active drilling plans: The company recently announced a winter exploration drill program targeting extensions of high-grade mineralization.

Key Project

Last Hope Gold Project

Last Hope Gold Project is located approximately 20 kilometres southeast of Lynn Lake, Manitoba, and consists of 21 claims covering approximately 50 square kilometres. The project is accessible by road and all-season trail within a historic mining district with established infrastructure, including paved roads, rail access, power and the Lynn Lake Airport.

The project is situated within the Lynn Lake Greenstone Belt of the Churchill Structural Province and hosts a Precambrian-aged lode gold system. Mineralization occurs within quartz-pyrite-rich structures associated with faulting and intrusive contacts. The current resource comprises seven en-echelon zones that strike southeast, dip near vertically and average approximately 3.5 metres in width.

The current NI 43-101 mineral resource estimate includes 71,100 ounces indicated grading 5.41 g/t gold and 273,800 ounces inferred grading 5.48 g/t gold. The resource is defined by 184 drill holes and remains open to the southeast and at depth. Recent drilling extended high-grade shoot mineralization up and down-plunge while increasing strike length by approximately 200 metres.

Drilling results from the 2020/2021 winter program included 15.7 metres grading 19.25 g/t gold in hole LH-20-08 and 8 metres grading 6.17 g/t gold in hole LH-21-20. Historical drilling also returned intercepts including 1.74 metres grading 79.44 g/t gold and 7.21 metres grading 14.78 g/t gold. The company plans additional drilling to test down-plunge extensions and further expand the resource footprint.

Management Team

Wayne Parsons - Chief Executive Officer and Director

Wayne Parsons has more than 20 years of experience in the investment industry, including roles at BMO, RBC and National Bank Financial. He advises mining companies on capital markets strategy, financing and investor engagement, and has served on several public company boards including Bunker Hill Mining.

Bruce Reid - Executive Chairman

Bruce Reid is a geologist and mining executive with more than 35 years of industry experience. He previously served as chairman, president and CEO of Carlisle Goldfields until its acquisition by Alamos Gold in 2016 and has founded and led multiple mining companies across North America.

Julio DiGirolamo - Chief Financial Officer

Julio DiGirolamo is a Chartered Professional Accountant with more than 30 years of senior-level public company experience. He previously served as CFO of Carlisle Goldfields and has extensive expertise in mining-sector financial management and reporting.

Sandra Jackson - Director

Sandra Jackson is a member of the Sagkeeng First Nation and holds a degree in economics from the University of Manitoba. She has more than 30 years of experience in community, economic and self-governance development with First Nations.

Herbert Urton - Director

Herbert Urton has extensive experience developing and managing businesses at regional, national and international levels. He currently serves as president and CEO of Resortco Properties and is a founding partner of One Sky Group.

Vance Loeber - Corporate Development

Vance Loeber has more than 30 years of international experience connecting U.S. and European investors with public resource companies seeking capital. His experience includes securing financing for large-scale mining projects including U.S. Silver and Sandspring Resources.