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 its 100%-owned Miller Copper-Gold Property near Kirkland Lake, Ontario. The financings will specifically advance drilling at the Cam Copper Zone 2 Surgical Mining™ target and the nearby Allied Gold Zone. The announcement also highlights Northstar's broader Surgical Mining™ pilot programme and positions the company toward what it describes as a potential self-financing exploration model.

Key Points

  • Northstar Gold Corp. (CSE: NSG) announced two concurrent flow-through private placements
  • Combined offerings total up to $1,150,000 to fund drilling at Cam Copper Zone 2 and the Allied Gold Zone on the Miller Copper-Gold Property
  • Critical Minerals Flow-Through Offering: up to 16,250,000 units at $0.04 each (up to $650,000); Flow-Through Offering: up to 14,285,714 units at $0.035 each (up to ~$500,000); first tranche of approximately $500,000 expected in the near term
  • Investors may watch for CSE acceptance, closing tranches, and drill results from the planned late November programme

Structure and Tax Benefits of Northstar Gold's Two Concurrent Offerings

The Critical Minerals Flow-Through Offering comprises up to 16,250,000 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. Subscribers may be eligible for a 30% Critical Mineral Exploration Tax Credit. The separate Flow-Through Offering consists of up to 14,285,714 units at $0.035 each, with each unit carrying one flow-through share and one full warrant exercisable at $0.075 for 24 months. Eligible subscribers under this tranche may qualify for the 15% Mineral Exploration Tax Credit. All securities are subject to a four-month-and-one-day statutory hold period from closing.

Cam Copper Zone 2 Surgical Mining Target and Recent Drill Highlights

The Cam Copper Mine hosts high-grade volcanogenic massive sulphide zones. Recent drilling has returned notable intercepts, including 14.78% Cu over 2.45 metres in 2023 and, in 2025, 13.95% Cu over 0.56 metres and 3.05% Cu with 5.90 g/t Au over 3.07 metres. The site serves as the principal demonstration location for Novamera's Surgical Mining™ technology within an approximately $11 million project. Northstar received its first $627,663 DIGITAL cash reimbursement in July 2026 and is eligible for up to approximately $1.2 million in additional DIGITAL co-investment. No production decision has been made.

Allied Gold Zone Drilling Plans Within the Miller Intrusive Complex

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, near-surface alkalic gold-telluride system. Previous drilling returned intercepts including 6.6 g/t Au over 117.0 metres and 4.0 g/t Au over 50.6 metres, with the system described as remaining open. Proceeds from both offerings will prioritise additional drilling and geological modelling at both targets. A cross-hole induced polarisation survey is currently underway at Cam Copper to refine drill targets ahead of a planned late November drill programme.