55 North Cuts 19.42 m of 2.49 g/t Au Including 4.50 m of 5.34 g/t Au

TORONTO, ON / ACCESS Newswire / July 7, 2026 / 55 North Gold Inc. (CSE:FFF)(FSE:6YF) ("55 North" or the "Company") is pleased to report that its 2026 winter diamond drill program on its Last Hope Gold Deposit has extended the gold mineralization 300 metres beyond the limit of the current mineral resource estimate. 55 North's Last Hope Gold Deposit is located in northern Manitoba, Canada, 10 kilometres south of Alamos Gold's Lynn Lake Project.

Highlights from 55 North's drill program include:

• LH26-02: 2.49 g/t Au over 19.42 m starting at 211.58 metres downhole

  • including 4.50 m grading 5.34 g/t Au

• LH26-04: 6.91 g/t Au over 2.56 m starting at 138.90 metres

  • including 1.33 m grading 12.60 g/t Au

• LH26-04: 7.61 g/t Au over 1.50 m

• LH26-07: 13.60 g/t Au over 1.00 m

Drilling demonstrated excellent internal grade continuity within the resource area, while southeast step-out holes confirmed the system remains open along strike and down-plunge, consistent with the geological model (see Figure 1).

⁽¹⁾ Intervals above are drill indicated core length. True widths are estimated to be 75-85% of the reported downhole intervals. Average grades are calculated with un-capped gold assays.

"Results from our successful winter drill program have returned multiple high-grade gold intercepts, reinforcing continuity within the current resource envelope, infilling critical gaps, and extending the mineralized system along strike to the southeast," said Wayne Parsons, CEO of 55 North. "We are excited for the new team to capitalize on this momentum and drive the Last Hope Gold Project forward with more high-grade intercepts and an updated resource estimate."

Figure 1 - Long Section 2026 Winter Drill Program

The 2026 Last Hope Gold Project drill program consisted of seven diamond drill holes designed to both infill gaps within the current resource model and step-out to the southeast to test the extension of the shear zone-hosted gold system. All holes successfully intersected the targeted structures, returning visible quartz veining with disseminated pyrite and strong assay results. These new intersections are expected to contribute to ongoing targeting for upcoming drilling in support of an updated mineral resource estimate.

QA/QC

55 North has implemented a quality control program to comply with industry "best practices" for sampling, chain of custody and analyses. Certified gold reference standards, blanks and duplicates are inserted at the core processing site as part of the QA/QC program in addition to the control samples inserted by the lab. Samples are prepared and analyzed by Geoanalytical Laboratories in Saskatoon. Samples are analyzed for gold using Fire Assay-AA techniques. Overlimit samples are re-analyzed using Fire Assay-Gravimetric methods.

Lynn Lake Gold District

Alamos Gold's Lynn Lake Gold Project, comprising the Gordon, MacLellan, Linkwood, and BT deposits, hosts combined Proven and Probable Mineral Reserves of 3.436 million ounces of gold at 1.25 g/t Au contained within 85.4 million tonnes, with additional Measured and Indicated Mineral Resources of 0.885 million ounces of gold at 1.27 g/t Au contained within 21.7 million tonnes, and Inferred Mineral Resources of 0.308 million ounces of gold at 0.80 g/t Au contained within 11.9 million tonnes.

The Lynn Lake Gold Project, currently under construction, is expected to average 186,000 ounces over its initial 10 years with total production estimated at three million ounces over the life-of-mine. Initial production is expected to commence in the first half of 2029. The Last Hope Gold Project is located approximately 10 km southeast of Alamos Gold's Linkwood and BT deposits.

NOTE: The information regarding Alamos Gold's Lynn Lake Gold Project is taken from publicly available sources and has not been independently verified by 55 North Gold Inc. or its Qualified Person. Readers are cautioned that the Company has no interest in the Lynn Lake project and the proximity of the Last Hope Gold Project to Alamos Gold's deposits does not imply that similar mineralization or economic results will be encountered on the Company's property.

About 55 North Gold Inc.

55 North Gold Inc. is a Canadian exploration and development company advancing its 100% owned high-grade Last Hope Gold Project. The 2021 NI 43-101 mineral resource estimate ("MRE") for the Last Hope Gold Deposit is 71,100 ounces of Indicated gold resources at 5.41 g/t Au contained within 0.4 million tonnes and 273,800 ounces of Inferred gold resources at 5.48 g/t Au contained within 1.5 million tonnes. The deposit remains open both down-plunge and along strike, highlighting strong exploration potential for resource expansion through additional drilling.

The Mineral Resource estimate for the Last Hope Gold Project is based on the 2021 NI 43-101 Technical Report. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. The estimate remains open down-plunge and along strike. Investors are cautioned that the Company has not completed a Preliminary Economic Assessment, Pre-Feasibility Study, or Feasibility Study on the Project and there is increased uncertainty and specific economic and technical risks of failure associated with any production decision based on the current mineral resource estimate.

Qualified Person

The technical content of this news release has been reviewed and approved by Michael Thompson, P.Geo., Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

For further information, please visit the Company's website at www.55northmining.ca.

ON BEHALF OF THE BOARD OF DIRECTORS:

Wayne Parsons
President and CEO
Phone: 519-871-3998
Email: [email protected]

For Further Information, Please Contact:

Bruce Reid
Executive Chairman
Phone: 647-500-4495
Email: [email protected]

All mineral resource and mineral reserve estimates disclosed in this news release have been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. Readers are cautioned that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Inferred Mineral Resources have a high degree of uncertainty as to their existence, and as to whether they can be mined economically or legally. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements in this news release include, but are not limited to, statements regarding the interpretation of drill results, the planning and scope of follow-up drilling, the integration of drill data into the geological model, the timing of an updated mineral resource estimate, and the Company's expectations regarding future exploration and development of the Last Hope Gold Project.

Forward-looking statements are based on management's expectations and assumptions as of the date hereof and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: the interpretation of geological and assay data; receipt and timing of remaining assay results; exploration results not being consistent with expectations; weather, logistics and site conditions; availability of equipment, personnel and contractors; commodity price fluctuations; and general market conditions. Drill intercepts reported in this release are core lengths; true widths have not yet been determined.

Although management believes the assumptions and expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such assumptions and expectations will prove to be correct. Forward-looking statements are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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

SOURCE: 55 North Mining Inc