Northstar Gold Corp. announced a non-brokered private placement of 10,000,000 flow-through units at a price of CAD 0.085 per unit for gross proceeds of CAD 850,000, and 10,000,000 non-flow through units at a price of CAD 0.075 per unit for gross proceeds of up to CAD 750,000, for aggregate gross proceeds of up to CAD 1,600,000 on October 4, 2022. The transaction will be made available to existing shareholders of the company.

Certain directors, officers and other insiders of the company may participate in the transaction. Each flow through unit is comprised of one flow-through common share and one non-flow through share purchase warrant. Each full warrant is exercisable for one non-flow through common share at an exercise price of CAD 0.10 per share for a term of 24 months after the closing.

Each non-flow through unit is comprised one common share and one non-flow through warrant, with each warrant exercisable for one common share at an exercise price of CAD 0.10 for a term of 24 months after the closing. The transaction is expected to close on or about October 31, 2022. The transaction is subject to all necessary regulatory approvals including approval from the Canadian Securities Exchange.

All securities to be issued in connection with the transaction will be subject to a four-month hold period from the closing date.