Northstar Gold Corp. (CSE: NSG) has announced two concurrent non-brokered flow-through private placements targeting aggregate gross proceeds of up to $1,150,000, with all funds directed toward diamond drilling and exploration at the Cam Copper Zone 2 Surgical Mining™ target and the Allied Gold Zone on its 100%-owned Miller Copper-Gold Property near Kirkland Lake, Ontario. The financings are structured as critical minerals flow-through and standard flow-through units, potentially offering subscribers access to federal tax credits. Investors may be watching the raise closely given its link to the company's broader Surgical Mining™ pilot program and ongoing exploration momentum.

Key Points

  • Northstar Gold Corp. (CSE: NSG) announced two concurrent non-brokered flow-through private placements
  • Aggregate gross proceeds of up to $1,150,000 targeted, split between a $650,000 critical minerals offering and an approximately $500,000 standard flow-through offering
  • Proceeds restricted to Canadian exploration expenses at the Cam Copper Zone 2 and Allied Gold Zone on the Miller Copper-Gold Property; a first-tranche close of approximately $500,000 CAD is expected in the near term
  • Investors should watch for CSE acceptance, tranche closings, and progress updates on the Cam Copper Surgical Mining™ pilot program

Structure of the Two Concurrent Flow-Through Offerings

The Critical Minerals Flow-Through Offering comprises up to 16,250,000 CM FT Units priced at $0.04 each, with each unit including one flow-through common share and one-half of a common share purchase warrant exercisable at $0.07 for 24 months. The standard Flow-Through Offering consists of up to 14,285,714 FT Units at $0.035 each, with each unit including one flow-through share and a full warrant exercisable at $0.075 for 24 months. Subscribers to the critical minerals tranche may be eligible for the 30% Critical Mineral Exploration Tax Credit, while the standard tranche may qualify for the 15% Mineral Exploration Tax Credit, the release states.

Cam Copper Zone 2 Surgical Mining Target and Recent Drill Highlights

The Cam Copper Mine hosts high-grade volcanogenic massive sulphide zones that Northstar is advancing through an approximately $11 million Surgical Mining™ for Critical Minerals Project with partners including Novamera Inc. and Micon International Limited. Recent drilling has returned intercepts including 14.78% Cu over 2.45 metres and 13.95% Cu over 0.56 metres. A cross-hole induced polarization survey is currently underway to refine drill targets ahead of a planned late November drill program. The company received its first $627,663 DIGITAL co-investment reimbursement in July 2026 and is eligible for up to approximately $1.2 million in additional co-investment.

Allied Gold Zone Exploration Upside at the Miller Property

Located approximately 2.5 kilometres northeast of Cam Copper, the Allied Gold Zone sits within the 3 km by 1 km Miller Intrusive Complex and hosts a broad alkalic gold-telluride system that the release describes as remaining open. Previous drilling returned intercepts including 6.6 g/t Au over 117.0 metres and 4.0 g/t Au over 50.6 metres. Proceeds from both placements will prioritise drilling and target evaluation at both zones, with the company indicating a potential self-financing exploration model should Surgical Mining™ extraction at Cam Copper proceed.