Vancouver, British Columbia — February 26, 2026 — Leads & Copy — Northstar Gold Corp. (CSE: NSG) is set to launch a non-brokered private placement to help fund permitting, engineering, and the initial implementation of Novamera Inc.’s Surgical Mining™ system at its Cam Copper Project. The project is 100%-owned by Northstar and located 18 kilometers southeast of Kirkland Lake, Ontario.
The financing is designed to provide the initial capital platform for Northstar’s Cam Copper Zone 2 Surgical Mining™ pilot. This pilot is being advanced under a Turnkey Surgical Mining Services Agreement executed with Novamera on October 9, 2025.
The offering will consist of up to $800,000 CAD in non-flow through units priced at $0.06 per unit. Each unit includes one common share and one warrant, with the warrant exercisable at $0.075 for 60 months.
Northstar directors may participate in the offering, and finder’s fees or commissions may be payable on portions of the financing, pending CSE policies and securities laws.
A first-tranche close of approximately $530,000 CAD is expected in the near term, and will be led by strategic investors aligned with Northstar’s critical-minerals and Surgical Mining objectives.
Northstar is progressing toward issuing a Notice-to-Proceed under the Agreement by obtaining the necessary permits and project financing. The company also intends to commission an NI 43-101-compliant Technical Report and Mineral Resource Estimate on the Cam Copper Project to formally evaluate the deposit’s prospects for eventual economic extraction before making any production or development decision.
Proceeds from the financing will be used for:
- Zone 2 geological model update and block model development
- Preliminary metallurgical studies
- Commissioning an NI 43-101-compliant Technical Report and Mineral Resource Estimate
- Permitting and detailed engineering for the Cam Copper Zone 2 Surgical Mining™ Program
- Mine-planning, surface-site preparation, and mobilization
- Working-capital
The offerings will be made available to existing shareholders of Northstar who held common shares of Northstar as of the close of business on October 28, 2025, pursuant to the prospectus exemption set out in B.C. Instrument 45-534.
Northstar has also made the offerings available to certain subscribers pursuant to B.C. Instrument 45-536. The company confirms that there is no material fact or material change about the Company that has not been generally disclosed.
All securities issued in connection with the offerings will be subject to a four-month hold period from the closing date under applicable Canadian securities laws.
It is anticipated that certain directors, officers and other insiders of Northstar may acquire Units or Royalty style investments under the Offerings.
Northstar’s focus is to advance exploration and development of the Allied Gold Zone and the Cam Copper VMS exploration and development projects on its Miller Copper-Gold Property near Kirkland Lake. In 2022 SRK (Canada) reported an Exploration Target Study at Allied ranging from 250k to 500k ounces of gold averaging between 1.4 g/t to 2.04 g/t and in 2025 Northstar reported Exploration Target Study results at Cam Copper ranging from 75,000 to 140,000 tonnes grading between 9% and 18% copper, with a conceptual average grade of 12% copper.
Northstar is collaborating with DIGITAL, Novamera Inc., and Micon International Limited under an approximately $11 million consortium initiative focused on advancing data-driven mining solutions and Novamera’s Surgical Mining™ technology to efficiently and sustainably extract high-grade copper resources. The consortium is progressing toward potential small-scale copper production at the Cam Copper Project, currently targeted for early 2027.
On January 28, 2026, Northstar announced that consortium partners had received approval to access up to $4.0 million in total co-investment funding from DIGITAL in support of the Cam Copper Surgical Mining for Critical Minerals Project. Northstar anticipates receiving an initial reimbursement of approximately $300,000 by mid-April 2026.
On September 19, 2024, Northstar announced that the Company had signed a memorandum of understanding with China-based Hunan Nonferrous to earn a minority interest in the Allied Gold Zone through the completion of a 10,000-metre drilling program aimed at expanding the deposit and supporting a NI 43-101 Mineral Resource Estimate.
Northstar has 3 additional 100%-owned exploration projects in northern Ontario, including the 1,150 ha Rosegrove Property, the 4,650 ha Bryce Gold Property, and the Temagami-Milestone Cu-Ni-Co Critical Minerals Property. Northstar is seeking exploration partners to advance all 3 properties.
Source: Northstar Gold Corp.
