Sixty North Gold Mining Announces Debt Settlements
Vancouver, British Columbia--(Newsfile Corp. - March 24, 2025) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") announces that it has arranged debt settlements with certain officers and a director of the Company, as well as a consultant of the Company, to settle a total of $151,426.15 in indebtedness for accrued management and consulting fees from the period May 1, 2024 to February 28, 2025, and other services, to be paid by the issuance and delivery of a total of 1,514,261 common shares of the Company in the aggregate, at a deemed value of $0.10 per share, plus GST (paid in cash). The shares will be subject to resale restrictions for a period of 4 months and a day from their date of issuance.
About the Company
The Company is developing mining operations for gold on its 100%-owned Mon Gold Property, 40 km north of Yellowknife, NWT. Past production of the A Zone extracted 15,000 tonnes at 30 gpt gold from this vein (Company Technical Report, August 3, 2023, on SEDAR or https://sixtynorthgold.com/projects/technical-report/. The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery and Sixty North Gold's Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Min and Giant Mine) (ref. Sixty North Gold NI 43-101, August, 2023).
Other targets on the property include silver and gold-rich volcanogenic massive sulphide (VMS) targets, as well as partially-exposed shear zone-hosted gold mineralization.
For more information, please refer to the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dave Webb"Dave Webb, President & CEO
For further information, please contact:
Dave WebbTel.: 604 818-1400 Email: dave@drwgcl.comWebsite: 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.sedarplus.ca), under the Company's profile.
The Canadian Securities Exchange has not approved nor disapproved the contentof this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245861
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