Sixty North Gold Provides an Update on the Mon Property, Yellowknife, NWT

Rhea-AI Summary

Sixty North Gold Mining Ltd. provides an update on the Yellowknife NWT fire situation and its impact on the Mon Property. The NWT is experiencing a devastating wildfire season, with multiple fires still out of control. The Mon camp has been evacuated, and the ZF012-23 fire has gone through the camp. The company has contacted its insurance company for a potential claim.

Vancouver, British Columbia--(Newsfile Corp. - August 17, 2023) -  Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") announces an update on the Yellowknife NWT fire situation and its impact on the Mon Property.

The NWT has been experiencing a devastating wildfire season with many communities and properties under evacuation orders. The 114,000 hectare ZF015-23 fire west of Yellowknife, the 9,000 hectare ZF012-23 fire north of Yellowknife and the 24,000 hectare ZF011-23 fire northeast of Yellowknife are all still out of control. As of August 16, Yellowknife and surrounding communities have been placed on evacuation orders.

Dr. Webb was in Yellowknife recently and departed the Mon Property August 11, 2023, when the fire was less than three km from camp. The camp has been emptied of staff, and the watchman who had moved earlier to a nearby camp on an island on Sito Lake has been evacuated to Yellowknife. A satellite image from August 15, 2023 shows the ZF012-23 fire has gone through the Mon camp. The Company has contacted its insurance company to advise them of a potential claim. With Yellowknife and the NWT having states of emergencies declared, and other priorities for aircraft, it is not be possible to visit the Mon Project at this time to assess potential damage.

Figure 1. Sentinel II image from ESA August 15, 2023 using SWIR enhancements. Fire is red, burned areas are browner and lakes are black..

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5873/177604_b5b499fe24751833_001full.jpg

About the Company

The Company is developing mining operations for gold on the Mon Gold Property, 40 km north of Yellowknife, NWT. Past production extracted 15,000 tonnes of ore to depths of only 15 m below surface, recovering an estimated 15,000 ounces of gold. The North Ramp has been reopened and has been extended to within 60 m of the target portion 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 confirmation of the grade and tonnage, a permitted mill will be brought in to process this and ongoing mined material.

The Mon Gold Property mining leases and mineral claims are located 45 km north of the City of Yellowknife, NWT.

For more information, 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: dave@drwgcl.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177604

FAQ

What is the company name mentioned in the press release?

The company mentioned in the press release is Sixty North Gold Mining Ltd.

What is the current situation in Yellowknife NWT due to wildfires?

Yellowknife and surrounding communities have been placed on evacuation orders due to the wildfires.

What is the size of the ZF015-23 fire west of Yellowknife?

The ZF015-23 fire west of Yellowknife covers an area of 114,000 hectares.

Has the Mon camp been affected by the wildfires?

Yes, the ZF012-23 fire has gone through the Mon camp.

Has the company informed their insurance company about the potential damage?

Yes, the company has contacted its insurance company to advise them of a potential claim.