Northstar Gold Corp. (CSE:NSG) has announced a non-brokered private placement to partially fund permitting, engineering, and the initial implementation of Novamera’s Surgical Mining system at its 100%-owned Cam Copper Project, located 18 kilometres southeast of Kirkland Lake, Ontario.
The financing will provide capital for Northstar’s Cam Copper Zone 2 Surgical Mining pilot, being advanced under a Turnkey Surgical Mining Services Agreement executed with Novamera on October 9, 2025.
The offering consists of up to C$800,000 in non-flow-through units priced at C$0.06 per unit, with each unit comprising one common share and one warrant exercisable at C$0.075 for 60 months.
A first-tranche close of approximately C$530,000 is expected in the near term, led by strategic investors aligned with Northstar’s critical-minerals and Surgical Mining objectives.
The proceeds fromt he offering will be directed toward updating the Zone 2 geological and block models, conducting preliminary metallurgical studies, commissioning an NI 43-101-compliant Technical Report and Mineral Resource Estimate, advancing permitting and detailed engineering for the Surgical Mining program, mine-planning, surface-site preparation and mobilization, and general working capital.
Northstar Gold is focused on the exploration and development of its near-surface Allied Gold Zone and the Cam Copper VMS projects on its 100%-owned Miller Copper-Gold Property near Kirkland Lake. A 2025 Exploration Target Study at Cam Copper reported an estimated 75,000 to 140,000 tonnes of material grading between 9% and 18% copper, with a conceptual average grade of 12% copper.