Sixty North Gold Announces Option Grants

Rhea-AI Summary

Sixty North Gold Mining (CSE: SXTY, FSE: 2F40, OTC Pink: SXNTF) has announced a new stock option grant for its leadership team and consultants. The company has authorized incentive stock options allowing the purchase of up to 802,500 common shares.

Key details of the option grant:

• Exercise price set at $0.115 per share
• Options valid until April 28, 2030
• Recipients include directors, officers, and consultants

The technical content of this announcement has been reviewed and approved by Dr. D.R. Webb, who serves as the company's President & CEO and acts as the Qualified Person. Dr. Webb holds Ph.D., P.Geol., and P.Eng. credentials.

Positive

• Company granted incentive stock options to directors, officers, and consultants, aligning management interests with shareholders

Negative

• Potential dilution of shareholder value through issuance of 802,500 new stock options

Vancouver, British Columbia--(Newsfile Corp. - April 28, 2025) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") announces the Company has granted incentive stock options to its directors, officers, and consultants to purchase up to 802,500 common shares of the Company at an exercise price of $0.115 per share until April 28, 2030.

Dr. D.R. Webb, Ph.D., P.Geol., P.Eng., President & CEO of the Company, is the Qualified Person for this release and has reviewed and approved of its technical content.

About the Company

Sixty North is developing mining operations for gold on its 100-per-cent-owned Mon Gold Project. Historically, the Project has extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold in the 1990s (NI 43-101, August, 2023). The North ramp has been reopened and has been extended to the target portion of the vein. The company plans to develop stopes in the East Limb, West Limb and DD Zone to extract and stockpile the vein material on surface. Upon confirmation of the grade and tonnage, the Company plans to bring a permitted mill in to process this and continuing mined material.

The VMS target was drill tested this month with several zones of sulphide enrichment. Assays are pending. The shear zones are separate targets on the property and will be tested when it is appropriate to do so.

For more information, please refer to the Company's public filings available on SEDAR (www.sedarplus.com), under the Company's profile.

ON BEHALF OF THE BOARD OF DIRECTORS

"Dave Webb"
Dave Webb, President & CEO

For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: dave@drwgcl.com
Website: www.sixtynorthgold.com

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR (www.sedarplus.com), under the Company's profile.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250051

FAQ

How many stock options did Sixty North Gold (SXNTF) grant in April 2025?

Sixty North Gold granted 802,500 incentive stock options to its directors, officers, and consultants on April 28, 2025.

What is the exercise price for SXNTF's April 2025 stock options?

The exercise price for the stock options is $0.115 per share.

When do Sixty North Gold's (SXNTF) April 2025 stock options expire?

The stock options expire on April 28, 2030, giving recipients a 5-year window to exercise their options.

Who received stock options from Sixty North Gold (SXNTF) in April 2025?

The stock options were granted to Sixty North Gold's directors, officers, and consultants.

What trading exchanges is Sixty North Gold (SXNTF) listed on?

Sixty North Gold trades on three exchanges: CSE (SXTY), Frankfurt Stock Exchange (2F40), and OTC Pink Markets (SXNTF).