High North Resources Ltd. to Appoint New Director and Corporate Update - Seite 2

Drawdowns under the Credit Facility will be available to finance exploration, development, production and the acquisition of domestic oil and natural gas reserves within the Western Canadian Sedimentary Basin. The Credit Facility may be increased to $10,000,000, contingent on the Company providing the Lender with supportable production history based on a third party engineering evaluation.

Reader Advisory Regarding Forward-Looking Statements

This news release contains certain "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the growth and development initiatives of the Company, the impact of Mr. Carlson's appointment to the Board, the use of funds drawn down under the Credit Facility and the potential increase in the Credit Facility based on a supportable production history. Statements regarding future growth initiatives are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in High North's public disclosure documents, copies of which are available on High North's SEDAR profile at www.sedar.com.