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NEWS 2020

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55 North Mining Inc. Announces Closing of $200,000 Additional Tranche of Non-Brokered Private Placement Financing

Toronto, Ontario – December 4, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce that that it has closed an additional tranche of a non-brokered private placement for gross proceeds of $200,000 in non-flow-through financing.  In total, the Company has raised $4,426,113 in gross proceeds, consisting of $2,268,416 in flow-through financing and $2,157,697 in non-flow-through financing.

The non-flow-through financing consisted of 1,333,334 units (“NFT Units”) priced at $0.15. Each NFT unit is comprised of one common share and one common share purchase warrant entitling the holder to acquire one additional common share of the Company at a price of $0.30 per share for 48 months from the date of issuance.

All common shares issued in connection with the financing will be subject to a statutory hold period of four months plus a day from the date of issuance.

The Company paid a finder’s fee in cash totalling $16,000 to certain eligible finders on the NFT Units sold.  The Company paid 106,666 compensation options (“Compensation Options”) to certain eligible finders of the NFT Units. Each Compensation Option is exercisable at a price of $0.15, any time prior to the date 48 months from the date of closing.  Each Compensation Option entitles the holder to purchase one unit, with each unit consisting of one common share and one common share purchase warrant.  Each common share purchase warrant entitles the holder to purchase one common share at a price of $0.30 per share for a period of 48 months from the date of closing.

The proceeds from the sale of NFT Units will be used for general working capital purposes.

About 55 North Inc.

55 North Mining Inc. is an exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Closing of $599,777 Additional Tranche of Non-Brokered Private Placement Financing

Toronto, Ontario – November 27, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce that that due to strong market demand for its non-flow-through as well as flow-through units, it has closed an additional tranche of a non-brokered private placement for gross proceeds of $599,777 consisting of $504,777 in non-flow-through financing and $95,000 in flow-through financing. In total, the Company has raised $4,226,113 in gross proceeds, consisting of $2,268,416 in flow-through financing and $1,957,697 in non-flow-through financing.

The non-flow-through financing consisted of 3,365,183 units (“NFT Units”) priced at $0.15. Each NFT unit is comprised of one common share and one common share purchase warrant entitling the holder to acquire one additional common share of the Company at a price of $0.30 per share for 48 months from the date of issuance.

The flow-through financing consisted of 475,000 flow-through units (“FT Units”) priced at $0.20. Each FT Unit is comprised of one flow-through common share and one non-flow-through purchase warrant entitling the holder to acquire one additional common share of the Company at a price of $0.30 per share for 48 months from the date of issuance.

All common shares issued in connection with the financing will be subject to a statutory hold period of four months plus a day from the date of issuance.
The Company paid a finder’s fee in cash totalling $21,200 to certain eligible finders on the NFT Units sold, and $1,600 on the FT Units sold. The Company paid 141,333 compensation options (“Compensation Options”) to certain eligible finders of the NFT Units, and 8,000 compensation options to certain eligible finders of the FT Units. Each Compensation Option is exercisable at a price of $0.15 if paid as commission on a NFT Unit financing, and $0.20 if paid as commission on a FT Unit financing, any time prior to the date 48 months from the date of closing. Each Compensation Option entitles the holder to purchase one unit, with each unit consisting of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at a price of $0.30 per share for a period of 48 months from the date of closing. Each finder’s warrant entitles the holder to purchase one common share of the Company at a price of $0.30 per share for 48 months from the date of issuance.

The proceeds from the sale of the FT Units will be used for expenditures which qualify as Canadian Exploration Expenses (“CEE”) within the meaning of the Income Tax Act (Canada), and will be incurred no later than December 31, 2021 on properties situated in the Province of Manitoba. The Company will renounce such CEE expenditures with an effective date of no later than December 31, 2020. The proceeds from the sale of NFT Units will be used for general working capital purposes.

About 55 North Inc.
55 North Mining Inc. is an exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Start of Drilling on its Last Hope Gold Project

Toronto, Ontario – October 29, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce that it has mobilized a diamond drill rig at its high-grade Last Hope Gold Project in northern Manitoba, as it begins its first exploration program on the property.
The fully funded $2.5 million (15,000 metres) diamond drill program is designed to: a) upgrade and expand the existing resource estimate (at a 3 g/t cut-off: Indicated: 154,060 tonnes grading 6.75 g/t for 33,458 ozs, Inferred: 872,977 tonnes grading 5.91 g/t for 165,812 ozs), and to b) drill two potential parallel mineralized structures similar to that hosting the current resource estimate.

Drilling on the Current Resource
Approximately one half (7,500 metres) of the budgeted drill program will potentially upgrade and expand the existing resource area. Drilling will focus on lower drillhole density areas, and on the down plunge extensions of the two existing high-grade ore shoots (see Figure 1).

Drilling on Potential Parallel Mineralized Structures
IP geophysics has identified two geophysical anomalies coincident with gold-in-soil anomalies, east of the current resource area. This could be indicative of parallel potential mineralized structures similar to the structure hosting the current resource estimate (see Figure 2). Significantly, these potential mineralized structures are located upon topographical highs. 55 North plans to drill approximately 7,500 metres on these two drill targets.

Bruce Reid, President and CEO of 55 North stated: “I am excited to begin our drill program on the highly prospective Last Hope Gold Project. We have a two-pronged strategy to add ounces: by expanding the deposit currently comprising our resource estimate, and by drilling the highly intriguing potential parallel structures”.

Qualified Person
The technical information in this press release has been reviewed and approved by Peter Karelse P.Geo., Vice-President of Exploration of 55 North, who is a Qualified Person as defined by NI 43-101. Mr. Karelse has more than 30 years of experience in exploration and development.

About 55 North Inc.
55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its high-grade Last Hope Gold Project located in Manitoba, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Closing of $836,000 Second Tranche of Non- Brokered Private Placement Financing

55 North Mining Inc. Announces Closing of $836,000 Second Tranche of Non- Brokered Private Placement Financing Toronto, Ontario – October 16, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce that it has closed the second tranche of a non-brokered private placement for gross proceeds of $836,000, made up of $824,000 in flowthrough financing and $12,000 in non-flow through financing.

The flowthrough financing consisted of 4,120,000 flow through units (“FT Units”). Each FT Unit was priced at $0.20 each for gross proceeds of $824,000. Each FT Unit is comprised of one flow through common share and one non-flow-through purchase warrant entitling the holder to acquire one additional common share at a price of $0.30 per share for 48 months from the date of issuance.

The non-flow through financing consisted of 80,000 units (“NFT Units”) priced at $0.15 each for gross proceeds of $12,000. Each NFT Unit is comprised of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price of $0.30 per share for 48 months from the date of issuance.

All common shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance. The Company may pay a cash finder’s fee and compensation options on all or a portion of the funds raised in relation to this closing.

The gross proceeds from the sale of the FT Units will be used for expenditures which qualify as Canadian Exploration Expenses (“CEE”) within the meaning of the Income Tax Act (Canada), and will be incurred no later than December 31, 2021 on properties situated in the Province of Manitoba. The Company will renounce such CEE expenditures with an effective date of no later than December 31, 2020. The proceeds from the sale of NFT Units will be used for general working capital purposes.

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its high-grade Last Hope Gold Project located in Manitoba, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer,
Director 55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Closing of $1.4M Private Placement including a Strategic Investment by Palisades Goldcorp

Toronto, Ontario – September 24, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce that it has closed a non-brokered private placement for gross proceeds of $1,403,416 with a lead order from Palisades Goldcorp acquiring 4,900,000 units. The gross proceeds consist of $1,334,416 in flow-through and $69,000 in non-flow through funding.

The flow-through financing consisted of 6,672,080 flow through units (“FT Units”). Each FT Unit was priced at $0.20 each for gross proceeds of $1,334,416. Each FT Unit is comprised of one flow-through common share and one non-flow-through purchase warrant entitling the holder to acquire one additional common share at a price of $0.30 per share for 48 months from the date of issuance. A syndicate led by Palisades Goldcorp Ltd. made a strategic investment and acquired 6,000,000 units.

The non-flow through financing consisted of 460,000 units (“NFT Units”) priced at $0.15 each for gross proceeds of $69,000. Each NFT Unit is comprised of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price of $0.30 per share for 48 months from the date of issuance.

All common shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance.

The Company paid an 8% finder’s fee in cash totaling $100,000 to certain eligible finders on the FT Units sold, and $5,520 on the NFT Units sold. The Company paid compensation options (“Compensation Options”) to certain eligible finders in the amount of 8% of the number of eligible FT Units and NFT Units sold. 500,000 Compensation Options were paid on the number of FT Units sold, and 36,800 Compensation Options were paid on the number of NFT Units sold. Each Compensation Option is exercisable at a price of $0.15 if paid as commission on a NFT Unit financing, and $0.20 if paid as commission on a FT Unit financing, any time prior to the date 48 months from the date of closing. Each Compensation Option entitles the holder to purchase one unit, with each unit consisting of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at a price of $0.30 per share for a period of 48 months from the date of closing.

The gross proceeds from the sale of the FT Units will be used for expenditures which qualify as Canadian Exploration Expenses (“CEE”) within the meaning of the Income Tax Act (Canada), and will be incurred no later than December 31, 2021 on properties situated in the Province of Manitoba. The Company will renounce such CEE expenditures with an effective date of no later
than December 31, 2020. The proceeds from the sale of NFT Units will be used for general working capital purposes.

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its high-grade Last Hope Gold Project located in Manitoba, Canada.

About Palisades Goldcorp Ltd.

Palisades Goldcorp Ltd. is Canada’s new resource focused merchant bank. Palisades’ management team has a demonstrated track record of making money and is backed by many of industry’s most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Completion of Amalgamation with 2552883 Ontario Inc.

Toronto, Ontario – September 4, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce that on September 2, 2020 it completed the previously announced three- cornered amalgamation of its wholly-owned subsidiary 55 North Mining Operations Inc. (“Subco”) with 2552883 Ontario Inc. (“2552883”) a private issuer based in Ontario , whereby the Company acquired control of the resulting amalgamated entity, 55 North Mining Operations Inc. and the former shareholders of 2552883 acquired control of the Company.

The Transaction

As part of the transaction, the Company consolidated its outstanding common shares effective September 2, 2020, on the basis of one (1) post-consolidation common shares for every ten and thirteen one hundredths (10.13) pre-consolidation common shares (each post-consolidation common share, a “Post-Consolidation Share”). With an effective date of September 2, 2020, Subco amalgamated with 2552883 (the “Amalgamation”). In accordance with the terms of the Amalgamation, the Company acquired all of the issued and outstanding common shares of 2552883 (each a “2552883 Private Share”) on the basis of one (1) Post-Consolidation Share issued for each 2552883 Private Share outstanding immediately prior to the Amalgamation. As a result, 70,493,217 Post-Consolidation Shares were issued giving the shareholders of 2552883 control of approximately 89.99 % of the issued and outstanding share capital of the Company as at the effective date of the Amalgamation.

Capitalization

Following the completion of the transaction, the Company now has approximately 78,326,619 issued and outstanding Post-Consolidation Shares. Assuming that all options and warrants of the Company are exercised, the Company will have 103,140,293 Post-Consolidation shares outstanding on a fully diluted basis.

After giving effect to the transaction, Bruce Reid, CEO, has ownership and control of 18,400,001 Common Shares and 11,400,000 Warrants, representing approximately 23.87% of the issued and outstanding Common Shares on a non-diluted basis (or approximately 33.54% of the Common Shares on a partially diluted basis after giving effect to the exercise of all Warrants owned by Mr. Reid). Furthermore, Leede Jones Gable Inc., has ownership and control of 14,285,716 Common Shares and 7,142,858 Warrants, representing approximately 18.24% of the issued and outstanding Common Shares on a non-diluted basis (or approximately 21.43% of the Common Shares on a partially diluted basis after giving effect to the exercise of all Warrants owned by Leede Jones).

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its mineral properties. As a result of the Amalgamation, 55 North has now acquired the high-grade Last Hope Gold Project located in Manitoba, Canada. The Last Hope Property is held by an option agreement under which the Company will acquire 15 non-surveyed claims covering an area of 3,513 ha.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Completes the Sale of its Edleston Gold Project in Timmins to European Cobalt Ltd.

Toronto, Ontario – September 2, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce that it has completed the previously announced sale (see press release dated July 3, 2020) of its 100% interest in the Edleston Gold Project to European Cobalt Ltd. (“European Cobalt”). See also press release dated June 8, 2020 which announced the signing of a binding letter of intent to enact this transaction.

Under the terms of the Agreement, European Cobalt paid to 55 North a non-refundable cash payment of C$100,000, and, on closing, made a cash payment of C$650,000 and issued 100,000,000 common shares of European Cobalt to the Company at a deemed issue price of A$0.02 per share (the “Consideration Shares”). European Cobalt’s shares trade on the Australian Securities Exchange (“ASX” – trading symbol EUC). On September 1, 2020, the Company declared an in specie dividend to common shareholders of record as of July 6, 2020 in the form of the Consideration Shares. The common shareholders of the Company will receive approximately 1.26 European Cobalt common shares for each common share of the Company held as at July 6, 2020. The Consideration shares are currently subject to a lock up agreement. However, the Company anticipates that the dividend, now declared, will be paid by issue of the European Cobalt common shares to shareholders on or about December 2, 2020.

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its mineral properties. On June 29, 2020, 55 North announced that it had entered into a binding letter of intent to acquire the high-grade Last Hope Gold Project located in Manitoba, Canada.

About European Cobalt Ltd.

European Cobalt Ltd. is a junior mining company that trades on the ASX under the ticker EUC. The company is primarily focused on the acquisition of gold projects within Canada, including the Edleston Gold Project.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Voting Results of Annual and Special Meeting of Shareholders held on August 10 2020

Toronto, Ontario – August 12, 2020 – 55 North Mining Inc. (“55 North” or the “Company”) is pleased to announce the results of its annual and special meeting of shareholders held August 10, 2020 (the “55 North Meeting”) and the unanimous approval of the shareholders of 2552883 Ontario Inc. of certain transactions previously announced, including the proposed amalgamation involving 55 North, its wholly-owned subsidiary 55 North Mining Operations Inc. and 2552883 Ontario Inc..

The shareholders of 55 North approved all matters submitted for approval at its Annual and Special Meeting, as described in the Company’s Management Information Circular dated July 7, 2020, including: 

  1. The sale of the Company’s interest in the Edleston Gold Property, located south of the Timmins gold camp in Ontario, Canada, to European Cobalt Ltd. for C$750,000 and 100,000,000 European Cobalt Ltd. Shares. Upon the expiry of a voluntary three (3) month escrow of these shares, the Company intends to dividend out these shares to shareholders of record as of July 6, 2020,
  2. A consolidation of the common shares of the Company on the basis of 1 post- consolidation common share for 10.13 pre-consolidation common shares.
  3. The amalgamation of 55 North with 2552883 Ontario Inc., which will proceed by way of a three-cornered amalgamation between 55 North, its wholly-owned subsidiary and 2552883 Ontario Inc. (the “Amalgamation”) whereby 55 North will acquire the high-grade Last Hope Gold Project located in Manitoba, Canada. Post-consolidation and post- amalgamation, 55 North will have approximately 78,326,193 common shares outstanding. The Amalgamation was approved by a majority of disinterested shareholders in accordance with Multi-lateral instrument 61-101 Protection of Minority Security Holders in Special Transactions. The Amalgation was approved by more than 99% of the votes cast in person by proxy by “disinterested persons” voting.
  4. The election to the Board of Directors of William Ferreira, Dan Hrushewsky, K. Sethu Raman, Alka Singh, and Bruce Reid.
  5. The re-appointment of Scarrow & Donald LLP as auditors of the Company for the ensuing year, and for the Board of Directors to fix their remuneration.
  6. The Company’s stock option plan.

55 North’s Board of Directors thank the Company’s shareholders for their impressive show of engagement, with over 66% of all shareholders represented at the meeting, and for their continued support.

2552883 Shareholders Approval

By unanimous shareholders resolution dated August 2, 2020, all of the shareholders of 2552883 Ontario Inc. approved the Amalgamation described above.

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. After consummation of the matters voted upon by the Company’s shareholders at the Annual and Special Meeting of Shareholders on August 10, 2020, 55 North plans to focus exploration and development efforts on the high-grade Last Hope Gold Project located in Manitoba, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@55northmining.com
647-500-4495

Investor Relations
investors@55northmining.com
416-477-7771 ext. 205

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Resignation of Director

TORONTO, July 24, 2020 (GLOBE NEWSWIRE) — 55 North Mining Inc. (“55 North” or the “Company”) announces that Brien Sirola has resigned as a director of the Company for personal reasons. Bruce Reid, President and Chief Executive Officer, commented: “Brien has contributed immensely to 55 North’s development over the years, and his contribution will be sorely missed. We wish him all the best in his future endeavours.”

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its mineral properties. On June 29, 2020, 55 North announced that it had entered into a binding letter of intent to acquire the high grade Last Hope Gold Project located in Manitoba, Canada. On July 3, 2020, 55 North announced that it has has entered into a definitive agreement to sell its Edleston Gold Project located south of the Timmins gold camp in Ontario, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. signs Definitive Agreement with European Cobalt Ltd. to sell its Edleston Gold Project in Timmins

TORONTO, July 06, 2020 (GLOBE NEWSWIRE) — 55 North Mining Inc. (“55 North” or the “Company”) announces that it has entered into a definitive agreement (“Agreement”) with European Cobalt Ltd. (“European Cobalt”) (ASX: EUC) pursuant to which European Cobalt Ltd. will acquire 100% of the rights, title andinterest in the Edleston Gold Project located south of the Timmins gold camp in Ontario Canada (“Edleston”). See press release dated June 8, 2020 which announced the signing of a binding letter of intent to enact this transaction.

Under the terms of the Agreement, European Cobalt paid a non-refundable cash payment of C$100,000, and, upon closing, will pay a cash payment of C$650,000 and issue 100,000,000 common shares of EUC at a deemed issue price of A $0.02 per share on the Australian Securities Exchange (“ASX”) to 55 North. All of the common shares issued by EUC will be subject to a three-month voluntary escrow from the date of issue.

The definitive agreement is subject to shareholder approval and a shareholder meeting is scheduled for August 10, 2020. The 100,000,000 EUC shares received by 55 North will be dividended out to 55 North shareholders of record as of the date of the shareholder meeting.

“We are pleased to have entered into a definitive agreement with European Cobalt regarding the sale of our Edleston Gold Project, as per the binding letter of intent announced on June 8, 2020. The sale of this asset is the latest part of a reorganization that commenced in January 2017. The Board believes that this sale unlocks unrecognized value in these assets and, in the hands of European Cobalt, 55 North shareholders will continue to benefit on the upside,” said Bruce Reid, CEO of 55 North.

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its mineral properties. On June 29, 2020, 55 North announced that it had entered into a binding letter of intent to acquire the high grade Last Hope Gold Project located in Manitoba, Canada.

About European Cobalt Ltd.

European Cobalt Ltd. is a junior mining company that trades on the ASX under the ticker EUC. The company is primarily focused on the acquisition of gold projects within Canada, including the Edleston Gold Project.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. enters into a Binding Letter of Intent to Acquire the high grade Last Hope Gold Project in Manitoba Canada

TORONTO, June 29, 2020 (GLOBE NEWSWIRE) — 55 North Mining Inc. (“55 North” or the “Company”) announces that it has entered into a binding letter of intent (“LOI”) with 2552883 Ontario Inc. (“2552883”), whereby 55 North will enter into a business combination with 2552883 (a three cornered amalgamation) whereby theshareholders of 2552883 will become shareholders of 55 North (the “Planned Transaction”). 2552883 is the owner of an option to acquire 100% of the rights, title and interest in the Last Hope Gold Project (“Last Hope”), a high grade gold project located in the emerging Lynn Lake Gold Camp in northern Manitoba.

The board of directors of 55 North has also decided to dividend out to its shareholders of record as at the date of the special shareholder’s meeting on August 10, 2020 all of the 100,000,000 shares of European Cobalt Ltd. (“European Cobalt”) that 55 North will receive as a result of the sale of its Edelston Gold Project to European Cobalt (see press release dated June 8, 2020). The board of directors of 55 North has also decided to effect a 10.13:1 rollback of 55 North shares after the dividend of European Cobalt shares to 55 North shareholders. After the three cornered amalgamation, ex-dividend, and post rollback, existing 55 North and 2552883 shareholders will own approximately 10% and 90% of the pro-forma company, respectively, with a name similar to 55 North and shares outstanding of approximately 78,325,797.

55 North is a reporting issuer in Ontario, Manitoba and British Columbia. 2552883 is a private company. Neither company trades on a recognized stock exchange. As such, the proposed relative ownership of each company’s shareholders of the pro forma company reflects relative valuations of each company’s assets, ex-dividend, as determined by the management and board of directors of each company, and will be confirmed by independent third party fairness opinions obtained by each company. This Planned Transaction will be documented in a definitive agreement which will be subject to shareholder approval.

TRANSACTION HIGHLIGHTS

The Last Hope Gold Project provides the following benefits to 55 North and its shareholders:

High Grade Gold Resource: At a 3 g/t cut-off: Indicated of 154,060 tonnes grading 6.75 g/t for 33,458 ounces, Inferred of 872,977 tonnes grading 5.91 g/t for 165,812 ounces.

Exploration Upside: Gold mineralization within the currently defined resource is open along strike to the NW and SE. Also, coincident geochemical and IP anomalies appear to indicate 2 parallel structures to the East that may host gold mineralization similar to that in the current resource.

Safe and Mining Friendly Jurisdiction/Good Infrastructure: Last Hope, situated in the Lynn Lake gold mining camp in northern Manitoba has good infrastructure: low cost hydroelectric power, connections to an extensive road and rail network, is proximal to the town of Lynn Lake and a 5,000 ft. paved airport runway capable of landing larger jet aircraft.

Management Experience and Expertise in the Camp: Senior management of 55 North acquired, explored, developed and then sold the Lynn Lake Gold Project in 2016 to Alamos Gold. Last Hope is located 10km south of Alamos’ Lynn Lake Gold Project.

Potential Synergy with Neighbouring Assets: Last Hope’s resource estimate has a grade which is over 3 times that of Alamos’ Lynn Lake project’s P&P reserves (31.977Mt grading 1.83 g/t for 1,884,800 ounces). Should exploration success at Last Hope result in a larger resource estimate, it could then potentially become a high grade satellite deposit for any future Alamos mining operation at Lynn Lake.

Bruce Reid, President and CEO of 55 North commented: “We are excited to have entered into a binding letter of intent with 2552883 Ontario Inc. to effect a combination with the express purpose of acquiring the high grade Last Hope Gold Project. We believe that our technical knowledge of the area and the deposit, together with recent work on the project, present us with an exceptional opportunity to potentially significantly grow the resource estimate and generate shareholder value”.

TRANSACTION DETAILS

The Planned Transaction is expected to be effected by way of a three cornered amalgamation under the Canada Business Corporations Act. The issuance of shares by 55 North in connection with the Planned Transaction is subject to the approval of a majority of the votes cast by shareholders of 55 North voting in person or represented by proxy at a special shareholders’ meeting. In addition to shareholder approvals, the Planned Transaction will be subject to applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature. Full details of the Planned Transaction will be included in a management information circular expected to be mailed to shareholders on or before July 17, 2020. Shareholder meetings and closing of the Planned Transaction are expected in August 2020.

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its mineral properties.

About 2552883 Ontario Inc.

2552883 Ontario Inc. is a private company incorporated in Ontario. It owns the option to acquire 100% of the Last Hope Gold Project.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Enters Into Binding Letter of Intent With European Cobalt Ltd. With Respect to Its Edleston Gold Project in Timmins

TORONTO, June 08, 2020 (GLOBE NEWSWIRE) — 55 North Mining Inc. (“55 North” or the “Company”) announces that it has entered into a binding letter of intent (“LOI”) with European Cobalt Ltd. (“European Cobalt”) (ASX: EUC) pursuant to which European Cobalt Ltd. will acquire 100% of the rights, title and interest in the Edleston Gold Project south of the Timmins gold camp in Ontario Canada (“Edleston”).

European Cobalt has agreed to pay a non-refundable cash payment of C$100,000 to 55 North within 5 days of the Execution Date. At the completion of the exclusivity period of 30 days, if European Cobalt elects to proceed with the acquisition of Edleston, European Cobalt shall make a cash payment of C$600,000 and issue 100,000,000 common shares of EUC at a deemed issue price of A $0.02 per share on the Australian Securities Exchange (“ASX”) to 55 North. All of the common shares issued by EUC, will be subject to a three-month voluntary escrow from the date of issue.

The definitive agreement is subject to shareholder approval and a shareholder meeting will be scheduled for on or around August 07, 2020. The Management of 55 North is also examining methods of moving the shares of EUC earned in this transaction directly to the individual shareholders of 55 North.

“We are excited to have entered into the binding letter of intent with European Cobalt with respect to our Edleston property which lies in a region 40 km south of the Timmins Gold Camp. The sale of this asset is the latest part of completing the reorganization that commenced in January 2017. The Board believes this sale unlocks unrecognized value in these assets and, in the hands of European Cobalt, shareholders will continue to benefit on the upside. 55 North is currently evaluating new highly prospective gold properties to acquire and more information will be made known in the coming weeks,” said Bruce Reid, CEO of 55 North.

About 55 North Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is exploration and development of its mineral properties.

About European Cobalt Ltd.

European Cobalt Ltd. (“European Cobalt”) is a junior mining company that trades on the ASX under the ticker EUC. The company is primarily focused on the evaluation of gold project opportunities within Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

NEWS 2019

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55 North Mining Inc. Completes Shares-for-Debt Settlement

TORONTO, Dec. 19, 2019 (GLOBE NEWSWIRE) — 55 North Mining Inc. (“55 North” or the “Company”) announces that it has finalized the settlement of $110,000 in indebtedness of the Company to a service provider through the issuance of units (the “Debt Settlement”). Each unit (a “Unit”) consists of one common share of the Corporation (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one Common Share for a period of thirty-six months from the date of issuance at $0.06. Pursuant to the Debt Settlement, the Company will issue 2,200,000 common shares of the Company (the “Shares“) at a deemed price of $0.05 per Share and 2,200,000 Warrants.

All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Completion of Shares-for-Debt Settlement

TORONTO, Nov. 14, 2019 (GLOBE NEWSWIRE) — 55 North Mining Inc. (“55 North” or the “Company”) reports that its board of directors has approved the settlement of up to $834,000 of debt through the issuance of common shares of the Company (the “Debt Settlement“). Pursuant to the Debt Settlement, the Company will issue up to 20,850,000 common shares of the Company (the “Shares“) at a deemed price of $0.04 per Share to certain creditors of the Company, including certain of its directors and officers (the “Creditors“).

All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). All of the independent directors of the Company, acting in good faith, considered the transactions and have determined that the fair market value of the securities being issued to insiders and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and (b) and 5.7(b) of MI 61-101.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Reinstatement to Trade, Voluntary Delisting and Provides Corporate Update

THIS NEWS RELEASE IS NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

TORONTO, Aug. 08, 2019 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company“) announces its imminent reinstatement to trade on the TSX Venture Exchange, and subsequent voluntary delisting, a previously closed private placement and the previously announced sale of its remaining interest in the Tully Property.

Reinstatement to Trading

The Company was suspended from trading by the TSX Venture Exchange in 2016 upon the issuance of cease trade orders by applicable securities regulators of Manitoba, Alberta and British Columbia for failing to file required financial statements. The cease trade orders were revoked in December, 2017. The Company has submitted to the Exchange required documents for review for reinstatement.

Delisting

The Company has applied to TSX Venture Exchange to delist from the Exchange.

The board of the directors of the Company determined that it was in the best interests of the Company and its shareholders to voluntary delist its common shares from the TSXV and file a listing application with the Canadian Securities Exchange (the “CSE”). The Company has received conditional approval from the CSE for the listing of its common shares. At its annual and special meeting of shareholders held on May 16, 2019, the majority of the minority shareholders approved the delisting of the Company’s common shares from the TSXV.

Once the trading is resumed the securities of the Company will trade for 10 days before the voluntary delisting occurs.

Closed Private Placement

The Company previously closed a non-brokered private placement in December 2018 and issued 4,200,000 flow-through common shares at $0.06 per share for gross proceeds of $252,000. In connection with the private placement, the Company paid finder’s fees totaling $8,160 cash to Gravitas Securities Inc. The proceeds from the private placement were used to advance the Company’s Canadian mining projects.

All of the securities issued in connection with the private placement offering were subject to a now expired hold period of four months and one day after the date of issuance.

Sale of Remaining Interest in Tully Property

The Company recently announced the sale of its remaining 50% interest in the Tully Property in consideration of $200,000 cash and waiver of outstanding liabilities of $970,552 and closing of a private placement of 3,333,333 shares at $0.06 per share for proceeds of $199,999.98. Sale of the Tully Property was approved by shareholders, including disinterested shareholders to satisfy TSX Venture Exchange requirements and minority shareholders pursuant to the requirements of Multilateral Instrument 61-101 “Protection of Minority Security Holders in Special Transaction” (“MI 61-101”).

Completion of the transactions set out in this news release are subject to the approval of the TSX Venture Exchange.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com
(647) 500-4495

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute forward looking statements or forward looking information under applicable securities legislation. Such forward looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward looking statements or information typically contain statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project” or similar words suggesting future outcomes or statements regarding an outlook.

Forward looking statements or information in this news release for the purposes of applicable securities laws include, among others, statements regarding the Offering, the use of proceeds of the Offering and the operation and future performance of the Company. These forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results, performance or achievements to differ materially from those expressed or implied in such forward-looking statements.

The Company expressly disclaims any intention or obligation to update or revise any forward looking statements whether as a result of new information, future events or otherwise except as required by applicable securities legislation. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

55 North Mining Inc. Closes Sale of Tully Property

THIS NEWS RELEASE IS NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

TORONTO, July 11, 2019 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company”) (formerly SGX Resources Inc.) announces that it has obtained regulatory and shareholder approvals for and has closed the previously announced (see press release dated August 8, 2018) sale of its remaining 50% interest in the Tully mining claims and mining lease located in Timmins, Ontario (the “Tully Property“), an exploration property in Ontario, to 1911 Gold Canada Corporation (formerly, Havilah Mining Canada Ltd.), a subsidiary of 1911 Gold Corporation (formerly, Havilah Mining Corporation) (the “Transaction”).

1911 Gold Corporation is considered a “related party” of 55 North within the meaning of that term in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), as 1911 Gold Corporation beneficially owned or controlled approximately 27.1% of the issued and outstanding shares of 55 North prior to the Transaction. The Company obtained minority shareholder approval of the Transaction pursuant to the requirements of MI 61-101, and disinterested shareholder approval was obtained to satisfy TSXV requirements, as evidence of value in the form required by TSXV was not provided in connection with the Transaction at the annual and special meeting of shareholders of the Company held on May 16, 2019. In addition, the Transaction is exempt from the formal valuation requirement of MI 61-101 as set out in section 5.5(b) of MI 61-101 – Issuer Not Listed on Specified Markets, as no securities of the Company are listed or quoted on the Toronto Stock Exchange, the Aequitas NEO Exchange Inc., the New York Stock Exchange, the American Stock Exchange, the NASDAQ Stock Market or a stock exchange outside of Canada and the United States other than the Alternative Investment Market of the London Stock Exchange or the PLUS markers operated by PLUS Markets Group plc.

Under the terms of an asset purchase agreement with 1911 Gold Canada Corporation (then Havilah Mining Canada Ltd.) (the “Agreement”), 1911 Gold Canada Corporation has acquired 55 North’s legal and beneficial right, title, and interest in and to all of 55 North’s 50% interest in the Tully Property in exchange for consideration, which includes payment of $200,000 in cash for the settlement of outstanding litigation between 55 North and a former employee (under previous management), and the waiver of outstanding liabilities owing to 1911 Gold Corporation by 55 North in the amount of approximately $970,552.

Additionally, pursuant to the terms of the Agreement, 55 North completed a non-brokered private placement of 3,333,333 common shares of 55 North (the “55 North Shares“) to 1911 Gold Canada Corporation, at a price of $0.06 per 55 North Share, for aggregate gross proceeds of $199,999.98. As a result, 1911 Gold Corporation currently beneficially owns 17,682,418 55 North Shares, representing approximately 31.4% of the issued and outstanding 55 North Shares.

Completion of the Transaction is subject to final approval of the TSX Venture Exchange.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
647-500-4495
br@idahochamp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause 55 North’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements

55 North Mining Inc. Announces Appointment of Director

TORONTO, March 28, 2019 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company”) is pleased to announce the appointment of Mr. Dan Hrushewsky to the Board of Directors of 55 North.

“We are pleased to welcome Dan to 55 North’s Board of Directors” stated Bruce Reid, Chairman and Chief Executive Officer. “ Dan brings a wealth of experience to the board in the areas of mining project analysis and finance.”

Dan Hrushewsky is a Mechanical Engineer (University of Toronto), MBA, and is a Chartered Financial Analyst (CFA). He has more than 30 years of experience in the mining industry, including M&A/Corporate Development with several multinational gold and base metal producers. His experience in Mine Finance includes mining project finance for a Canadian bank; and mining equity finance for a Precious Metals Fund, a Private Equity Fund, and two investment dealers.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

NEWS 2018

advanced divider

55 North Mining Inc. Closes Private Placement of Units

THIS NEWS RELEASE IS NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

TORONTO, Nov. 16, 2018 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company”)(formerly named SGX Resources Inc.) announces that it has closed a non-brokered private placement offering of 3.7 million Units of the Company at $0.06 per Unit for gross proceeds of $222,000 on November 15, 2018 (the “Offering“).

Each Unit is comprised of one flow through common share and one non-flow-through purchase warrant entitling the holder to acquire one additional common share at a price of $0.07 per share for 24 months from the date of issuance. All common shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance.

The proceeds from the private placement will be used to advance the Company’s Canadian mining projects, and for general working capital purposes.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North Mining Inc. contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Announces Resignation of Director

TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company”) (formerly named SGX Resources Inc.) announces that the Company has accepted the resignation of Jennifer Boyle as a Director of the Company. The Board of Directors would like to thank Ms. Boyle for her contributions to the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@idahochamp.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Private Placement Extension

TORONTO, Aug. 17, 2018 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company”) (formerly named SGX Resources Inc.) announces that further to its news release on July 4, 2018, it intends to seek approval from the TSX Venture Exchange to extend the deadline for filing final documentation for its non-brokered private placement for 30 days. The Company closed the first tranche of this private placement offering on July 4, 2018 for gross proceeds of $222,000 by the issuance of 3.7 million Units at a price of $0.06 per Unit.

Each Unit is comprised of one flow-through common share and one non-flow-through purchase warrant (“Warrant”) entitling the holder to acquire one additional common share at a price of $0.07 per share for 24 months.

The proceeds from the private placement will be used to advance the Company’s Canadian mining projects, and for general working capital purposes.

All of the securities issued in connection with the private placement offering are subject to a hold period expiring four months and one day after date of issuance.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@bunkerhillmining.com

or

Ms. Jennifer Boyle
Director
55 North Mining Inc.
jennifer@capexgroupinc.com
416-904-2714

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Enters into Agreement with Havilah Mining

THIS NEWS RELEASE IS NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

TORONTO, Aug. 08, 2018 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North”) (formerly named SGX Resources Inc.) announces that it has entered into an agreement (the “Agreement“) with Havilah Mining Canada Ltd. (“Havilah“, a subsidiary of Havilah Mining Corporation), whereby Havilah has agreed to acquire the remaining 50% interest in the Tully mining claims and mining lease located in Timmins, Ontario (the “Tully Property“), an exploration property in Ontario (the “Acquisition“).

Under the terms of the Agreement, Havilah will acquire 55 North’s legal and beneficial right, title and interest in and to all of 55 North’s 50% in the Tully Property in exchange for consideration which includes payment of $200,000.00 in cash for the settlement of outstanding litigation between 55 North and a former employee (under previous management), and the waiver of outstanding liabilities owing to Havilah by 55 North in the amount of approximately $970,552.00.

Additionally, pursuant to the terms of the Agreement, concurrent with the closing of the Acquisition, 55 North is required to complete a non-brokered private placement (the “Placement“) offering of 3,333,333 post-consolidation common shares of 55 North (the “55 North Shares“) to Havilah, at a price of $0.06 per 55 North Share, for aggregate gross proceeds of $199,999.98. Havilah currently owns 14,349,085 55 North Shares representing approximately 24.57% of the issued and outstanding 55 North Shares.

Completion of the Acquisition and the Placement is subject to the satisfaction of certain conditions precedent as well as the approval of the TSX Venture Exchange. The Acquisition is expected to close on September 30, 2018, or such other date as the parties may agree upon.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
647-500-4495
br@bunkerhillmining.com

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause 55 North’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

55 North Mining Inc. Closes First Tranche of Private Placement

THIS NEWS RELEASE IS NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

TORONTO, July 04, 2018 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSX-V:FFF) (“55 North” or the “Company”) (formerly named SGX Resources Inc.) announces that it has closed the first tranche of its private placement offering (announced June 18, 2018) for gross proceeds of $222,000 by the issuance of 3.7 million Units at a price of $0.06 per Unit.

Each Unit is comprised of one flow through common share and one non-flow-through purchase warrant (“Warrant”) entitling the holder to acquire one additional common share at a price of $0.07 per share for 24 months.

The proceeds from the private placement will be used to advance the Company’s Canadian mining projects, and for general working capital purposes.

All of the securities issued in connection with the private placement offering are subject to a hold period expiring four months and one day after date of issuance.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@bunkerhillmining.com

or

Ms. Jennifer Boyle
Director
55 North Mining Inc.
jennifer@capexgroupinc.com
416-904-2714

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North Mining Inc. contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

SGX Resources Inc. / 55 North Mining Inc. – Corporate Update and Name Change

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, June 18, 2018 (GLOBE NEWSWIRE) — SGX Resources Inc. (TSXV:SXR) (now named 55 North Mining Inc.) (the “Company”) announces that that on June 6, 2018, SGX received shareholder approval for all items of business set out in the management information circular dated April 30, 2018, including approval to consolidate its common shares and name change. Accordingly, the Company has made application to the TSX Venture Exchange (“Exchange”) seeking approval to reinstate trading its common shares, to consolidate its share capital at a ratio of 3:1, to change the Company’s name to 55 North Mining Inc., and to complete a private placement offering of up to $800,000.

Share Consolidation and Name Change

The Company has completed a capital restructuring by reducing the number of issued and fully paid shares on the basis of one new SGX share having been issued in return for three (3) old SGX shares presently held. The consolidation will be instrumental in enabling the Company to comply with pricing for the completion of a private placement within the parameters of the policies prescribed by the Exchange, and provides the Company with increased flexibility in negotiating other such financing opportunities. As at today’s date there are 135,194,169 common shares outstanding. Given the consolidation on the basis of 3:1, the Company currently has 45,064,723 common shares outstanding. Contemporaneously with the share consolidation, the Company’s name changed to 55 North Mining Inc.

Letters of transmittal with respect to the name change and share consolidation have been mailed to all of the Company’s registered shareholders. All registered shareholders will be required to send the certificates representing their pre-consolidated common shares, along with a properly executed letter of transmittal, to the Company’s transfer agent, TSX Trust Company, all in accordance with the instructions provided in the letter of transmittal.

Up to $800,000 Private Placement Offering

The Company further announces that it is completing a non-brokered private placement offering of up to 13,333,333 flow through and non-flow through units (“Units”) at a price of $0.06 per Unit, for gross proceeds of up to $800,000. Each Unit is comprised of one common share of the Company (which may be either flow through or non-flow through) and one non-flow-through purchase warrant. Each full warrant shall entitle the holder to acquire one common share of the Company at a price of $0.07 per share for 24 months from closing. The Company shall use the proceeds to incur exploration expenditures on its Canadian projects, and for working capital.

In the event that the private placement is fully subscribed, the Company will have an aggregate 58,398,056 common shares outstanding.

Completion of the transactions set out in this news release are subject to the receipt of approval of the Exchange.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@bunkerhillmining.com

or

Ms. Jennifer Boyle
Director
55 North Mining Inc.
jennifer@capexgroupinc.com
416-904-2714

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North Mining Inc. contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.