New Risk • Jun 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.3m free cash flow). Earnings have declined by 4.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$14.0m market cap, or US$9.84m). New Risk • Jun 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.6m (US$9.56m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.6m market cap, or US$9.56m). Announcement • Jun 19
Sixty North Gold Mining Provides Update on Scheduled Development At Mon Gold Mine Sixty North Gold Mining Ltd. has been informed that the Mackenzie Valley Land and Water Board has requested all mine and mill developers without an approved Water Management Plan to collect additional baseline sampling prior to submitting that plan. This change in policy is apparently derived from concerns about how the environment has changed subsequent to the drought and wildfires across the Northwest Territories. This directive affects Sixty North Gold Mining Ltd. and will delay the planned start-up timeframe. The Company and its consultants have provided baseline data extending back to the 1990's when sampling was conducted by government inspectors and previous operators. More recent samples have been collected since the issuance of the Company's licenses and permits, and most recently from 2020. This includes baseline sampling in 2024 after the wildfire season in 2023. Discussions are ongoing with the Mackenzie Valley Land and Water Board and its Inspectors to determine how this policy change affects the Company's previously announced plans to commence gold production at the Mon Gold Mine. Currently, only limited activity is being permitted on site. The Company has submitted twelve management plans and has received approval for six from the Mackenzie Valley Land and Water Board. Since the Company's last update dated May 19th, the Mill Design and Construction Plan, Ore Stockpile Design and Management Plan, and Dry Stack Tailings Design and Construction Plans have been submitted. The Dry Stack Tailings Management Plan can be submitted on Mackenzie Valley Land and Water Board approval of the Dry Stack Tailings Design and Construction Plan, which has also been submitted. The Interim Closure and Reclamation Plan is being replaced by a revised Closure and Reclamation Plan. Mining in the 1990's 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. Recently, underground development has intersected the productive A-Zone 17 m below the historic stopes. A newly discovered zone, the DD-Zone is exposed in the main ramp. The company plans to develop and mine stopes in the East Limb, West Limb and DD Zone and to extend the ramp to allow for the development of deeper levels. The silver-rich VMS deposits, the large shear zone-hosted gold targets, and the critical-element-enriched IOCG-style mineralization will be explored and developed as warranted. 
