Latest News Release -
C.FFF

TORONTO, ON / ACCESSWIRE / May 16, 2023 / 55 North Mining Inc. ("55 North" or the "Company") is pleased to announce that the Company and Marcel Colomb First Nations (MCFN) have signed an Exploration Agreement ("the Agreement") outlining a framework for collaboration on the proposed exploration of the Last Hope Gold Project in Lynn Lake, Manitoba.

The Agreement details how the two parties will work together to progress ongoing exploration activity at the Last Hope Gold Project, which lies within the MCFN Traditional Territory in the Lynn Lake area of Manitoba.

MCFN Chief, Christopher Colomb, said, "We are in full support of the Last Hope Gold Project moving ahead."

55 North CEO, Bruce Reid, said, "the landmark Agreement is an important step forward in our long-standing relationship with the MCFN Band. We look forward to working closely with MCFN to advance our high-grade Last Hope Gold Project."

About The Last Hope Gold Project

Since 2017, 55 North Mining Inc. has spent over $5 Million on exploration and community relations at its Last Hope Property. A previous diamond drill program consisting of 11,653 m in 29 holes was conducted in 2020 and 2021. Step-out drilling extended the strike length of the gold mineralization to approximately 1.2 km.

The Phase 2 drill program was completed was in 2020. Drill results from that program included LH-20-08 which returned 19.25 g/t over 15.7 m. Currently, the Last Hope Gold Project hosts an Indicated mineral resource of 408,300 tonnes grading 5.41 g/t Au for 71,100 ounces of gold, and an Inferred resource of 1,553,000 tonnes grading 5.48 g/t Au for 273,800 ounces of gold.

The Last Hope Property has the potential to define additional Mineral Resources and expand the Mineral Resource area. The Company has planned a Phase 3 drill program. The Phase 3 drill program will comprise of 9,500 m of drilling in 25 holes as a follow up to the 2020-2021 drill program. This program will target possible mineralization for an additional 500 m along strike to the southeast of the present Mineral Resource at a vertical depth of approximately 550 m.

About 55 North Mining 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@55northmining.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.

SOURCE: 55 North Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/755148/55-North-Mining-Inc-Announces-Signing-of-Exploration-Agreement-with-The-Marcel-Colomb-First-Nation-Band

Investment Disclosure



The content provided on this website and in Mine$tockers episodes is for informational purposes only and should not be considered as an offer, solicitation, recommendation, or determination by Mine$tockers Inc. for the sale of any financial product or service or the suitability of an investment strategy for any investor.

Investors are advised to consult a financial professional to determine the appropriateness of an investment strategy based on their objectives, financial situation, investment horizon, and individual needs. This information is not intended to serve as financial, tax, legal, accounting, or other professional advice, as such advice should always be tailored to individual circumstances.

The products discussed herein are not insured by any government agency and carry risks, including the potential loss of the principal amount invested. Any information provided is based on both internal and external sources and should not be construed as an endorsement or conclusion regarding a company's financial prospects, resources, or management. Opinions expressed may change and should not be relied upon. It is crucial to seek personalized investment advice for your unique situation.

Natural resources investments are generally volatile, with higher headline risk than other sectors. They tend to be more sensitive to economic data, political and regulatory events, and underlying commodity prices. The prices of natural resources investments are influenced by factors such as the costs of underlying commodities like oil, gas, metals, and coal. These investments may trade on various exchanges and experience price fluctuations due to short-term demand, supply, and investment flows.

Natural resource investments often respond more sensitively to global events and economic data, including natural disasters, political turmoil, pandemics, or the release of employment data.

Investing in foreign markets may carry greater risks than domestic markets, including political, currency, economic, and market risks. It is essential to evaluate if trading in low-priced and international securities is appropriate for your circumstances and financial resources. Past performance does not guarantee future results.

Mine$tockers Inc., its affiliates, family, friends, employees, associates, and others may hold positions in the securities it covers. Some of the companies covered may be paying clients of the production.

No investment process is risk-free, and profitability is not guaranteed; investors may lose their entire investment. No investment strategy or risk management technique can guarantee returns or eliminate risk in any market environment. Diversification does not ensure a profit or protect against loss. Investing in foreign securities involves risks not associated with domestic investments, such as currency fluctuations, political and economic instability, and differing accounting standards, potentially leading to greater share price volatility. The prices of small- and mid-cap company stocks generally experience higher volatility than large-company stocks and may involve higher risks. Smaller companies may lack the management expertise, financial resources, product diversification, and competitive strengths needed to withstand adverse economic conditions.

logo

Studio


Toronto Ontario Canada

Email


kevin@MineStockers.com

Phone


+1 (905) 967-2519