55 North Mining Inc. — Capital/Financing Update 2022

Sep 6, 2022

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55 North Mining Inc. Announces Option Agreement Amendment for Last Hope Gold Project, Manitoba

Toronto, Ontario – September 6, 2022 – 55 North Mining Inc. (CSE:FFF) (“55 North” or the “Company”) announces amendment to the option agreement for the Last Hope Gold Project located in Manitoba, Canada. The Company has successfully amended the schedule on the final payment of $3,000,000 for the property. The amended agreement extends the final payment by three years to September 5, 2025. The parties have also agreed to include an annual payment of $100,000 to be paid on September 5, 2022, 2023 and 2024. The September 2022 payment has been paid.

Pursuant to the amended agreement, the Company shall pay $200,000 as well as issue 5,000,000 common shares of 55 North Mining Inc. to the Optionor.

President and CEO Bruce Reid states "We are very pleased with the willingness of our option holder to amend the option agreement and look forward to advancing the High-Grade Last Hope Gold Project."

About 55 North Mining Inc.

55 North Mining Inc. was incorporated under the Canada Business Corporations Act on December 5, 2008. The current business of the Company is the exploration and development of its high-grade Last Hope Gold Project located in Manitoba, Canada.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Mr. Bruce Reid Chief Executive Officer, Director 55 North Mining Inc. bruce@55northmining.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of 55 North contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.