Northstar Closes 1st Tranche of Private Placement to Advance Surgical Mining Project at Cam Copper

Vancouver, British Columbia--(Newsfile Corp. - March 9, 2026) - Northstar Gold Corp. (CSE: NSG) ("Northstar" or the "Company") is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement of hard dollar units (the "Units") for gross proceeds of up to $800,000 (the "Offering"). Please refer to the Company's News Release dated February 26, 2026 for additional details regarding the Offering.

Financing Overview

The Company issued an aggregate of 9,300,000 Units at a price of $0.06 per Unit, for gross proceeds of $558,000 with strategic investors. Each Unit consists of one (1) common share and one (1) common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to acquire one (1) additional common share at an exercise price of $0.075 per common share for a period of 60 months from the date of issuance.

In connection with the Offering, the Company paid aggregate finder's fees of $28,800 and issued 480,000 finder warrants (the "Finder Warrants") to an eligible finder. Each Finder Warrant is exercisable to acquire one common share at a price of $0.075 per share for a period of 60 months from the date of issuance.

All securities issued pursuant to the Offering, including the Units, Warrants and Finder Warrants, are subject to a statutory hold period of four months and one day from the closing date, in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

The company will close a near-term, second tranche with additional orders on hand. The Offering remains subject to final approval of the Canadian Securities Exchange.

Use of Proceeds

Proceeds from the Offering will provide initial capital to partially fund permitting, engineering, and early-stage implementation of Novamera Inc.'s Surgical Mining™ system at Northstar's 100%-owned Cam Copper Project, located approximately 18 kilometres southeast of Kirkland Lake, Ontario. The Cam Copper Zone 2 Surgical Mining™ pilot program is advancing under a definitive Turnkey Surgical Mining Services Agreement ("the Agreement") with Novamera executed on October 9, 2025 (Please see Northstar News Release dated October 9, 2025).