Novamera and Northstar sign LOI to Surgically Mine Cam Copper Project

Vancouver, B.C., July 23, 2025 – Northstar Gold Corp. (CSE: “NSG”) (“Northstar” or the “Company”), is pleased to announce the signing of a Letter of Intent (“LOI“) with Novamera Inc. to deploy their patented Surgical Mining process from surface to mine high-grade copper from Zone 2 at Northstar’s historic Cam Copper Mine1,2,3 (or the “Cam Copper Project”, or “Project”) situated 18 kilometres southeast of Kirkland Lake, Ontario at the Company’s 100%-owned Miller Copper-Gold Property.

The LOI is predicated on Novamera Inc.’s recent positive “Zone 2 Proposed Development and Surgical Mining Evaluation Study” (Please see Northstar News Release dated June 26, 2025) and Northstar’s recently announced near surface Zone 2 Exploration Target 3D models and high-grade copper and tonnage ranges of 75,000 to 140,000 tonnes grading between 9% and 18% copper, with a conceptual average grade of 12% copper4 (Please see Northstar News Release dated June 12, 2025).

Key Highlights:

• Novamera’s Surgical Mining technology represents a transformative, data-driven approach to unlocking high-grade, steeply dipping tabular deposits, such as Northstar’s Zone 2. Currently being deployed at a gold project in Newfoundland, this method significantly reduces capital expenditures (CAPEX), accelerates the time to first production, and minimizes environmental and social impacts.

• The LOI scope of work envisages evaluating the potential for Novamera to deploy its proprietary turnkey Surgical Mining solution (the “Turnkey Solution”) to extract a conceptual 116,000 tonnes of Zone 2 material using 93 extraction holes over an estimated period of 31 months.5

• Novamera has agreed to help identify financing sources for Surgical Mining Zone 2 at the Cam Copper Project. Preliminary discussions on offtake and financing with government and private sources have already begun.

• Northstar plans to commission a NI43-101 reporting compliant Technical Report and Mineral Resource Estimate, including information regarding the Reasonable Prospects for Eventual Economic Extraction, on the Cam Copper Project.

• Northstar is committed to securing all necessary permits and approvals to advance the Cam Copper Project toward a commercial production decision as efficiently as possible. Novamera’s innovative approach—featuring real-time reclamation and minimal water discharge can potentially streamline the regulatory pathway and accelerate project timelines.

Cam Copper Surgical Mining Project

The Cam Copper Mine. Zone 2 is interpreted to contain copper-rich, Besshi-style volcanogenic massive sulphide (VMS) mineralization—primarily chalcopyrite and bornite—extending from surface to a depth of approximately 200 metres, over a strike length of ~125 metres and an average width of 1 metre. The high-grade mineralization remains open at depth, plunging southeast at -71 degrees along a well-defined VMS feeder structure.

Zone 2 is the largest of 3 narrow, steeply dipping tabular copper horizons with an historic estimate by a previous operator to average 10% copper over a 0.85 metre true width, 42-metre strike length and a minimum 140 metre depth extent from surface1.  Northstar’s 2023 and 2024  Zone 2 drilling (7 holes), including an intercept of 14.8% copper over 2.45 metres in drill hole CC-03-23 (Please See Northstar News Release dated Nov. 23, 2023), and Zone 2 Exploration Target4 results corroborate these historic estimates.

Novamera’s innovative Surgical Mining solution is well-suited to exploit Zone 2 copper mineralization with minimum mining dilution and environmental impact.  This is facilitated by drilling large-diameter holes from the surface, targeting Zone 2 copper mineralization. The resulting broken rock is recovered and shipped directly to a nearby mill for processing.  The process comprises data-driven hardware and software solutions that guide the drilling process and minimize dilution. Once drilled, the holes can be immediately reclaimed to provide structural support to the mine with a minimal environmental footprint on surface.

Northstar and Novamera have entered into a strategic agreement for the Cam Copper Project, with due diligence and implementation planning underway over the next several months. Novamera will earn a 5% revenue share from the project, with a structured buyout option available to Northstar. With a low upfront capital requirement of approximately $1.5 million and the remainder of project capital costs structured off balance sheet, Novamera’s approach offers an attractive risk-adjusted return profile. The Company is also actively pursuing non-dilutive funding to accelerate project initiation.

Brian P. Fowler, Northstar President, CEO, and Director, states, “Northstar is very pleased to partner with Novamera and employ its innovative mining solution at Cam Copper Mine. Surgical Mining appears to be perfectly suited to effectively exploit Zone 2 in the near term, with nominal mining dilution and environmental impact. This proposed production arrangement minimizes upfront financial and operational risk to Northstar and leverages Novamera’s extensive network of shareholders, private and government investment agencies, subject to the definition and permitting of an economic deposit.  Recently announced US copper tariffs and a near-record copper price (US$5.71 per lb copper) further enhance this timely proposed mining venture.”

“Surgical Mining is redefining what’s possible in the mining industry,” says Jim Hollis, CEO of Novamera. “Our method combines targeted drilling, real-time data, and automation to unlock the potential of properties like the Cam Copper project, while minimizing environmental impact and respecting local communities. This isn’t just a new method; it’s a new mindset for how mining can and should be done.”

1        Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File #KL-0843, Prospectus of Fidelity Mining Investments Ltd. 1962

2        Ontario Ministry of Energy, Northern Development and Mines Mineral Deposit Inventory Record MDI31M13NW000154: Tretheway-Ossian- 1981, Ch.H. Cameron-1981

3      Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File #KL-0259, Tretheway-Ossian (Cam Copper Mine). 1961

4      The above Exploration Target range in tonnes and grade highlights the exploration potential of Cam Copper No. 2 Zone. The quantity and quality are purely conceptual in nature. Insufficient exploration has been carried out to define a mineral resource on the property and a Qualified Person has not done sufficient work to classify the Cam Copper Exploration Target projection as a current mineral resource. These values cannot and should not be relied upon are only included herein as an indication of potential mineralization on the Property. Additional exploration including a 43-101 Technical Report, CIM and NI-43-101 reporting compliant mineral resource estimate and Preliminary Economic Assessment are required to establish the economic potential of Cam Copper No. 2 Zone. It remains unclear whether a mineral resource will be delineated on the Property.

5        The above scope of work is a preliminary conceptual estimate based on early-stage evaluation and does not constitute a production decision. A NI43-101 reporting compliant Mineral Resource Estimate and supporting Technical Report are required to determine whether the Project has Reasonable Prospects for Eventual Economic Extraction.