Northstar Gold Corp. (CSE: NSG) reports results from a recently completed 7-hole, 1,204-metre Zone 2 definition drill program at the Company’s 100%-owned Cam Copper Mine, located approximately 18 kilometres southeast of Kirkland Lake, Ontario.

The drill program was completed in December 2025 to support preparation of a NI 43-101 Technical Report and Mineral Resource Estimate, including an evaluation of Reasonable Prospects for Eventual Economic Extraction for the Cam Copper Surgical Mining Project by consortium partner Micon International Limited (Please see Northstar News Release dated January 28, 2026).

Zone 2 definition drilling has confirmed the presence of a high-grade polymetallic volcanogenic massive sulphide (“VMS”) system displaying pronounced down-plunge continuity and metal zonation characteristic of a robust Besshi-type VMS deposit (Please see Northstar News Release dated June 12, 2025).

Highlights

• 3.05% Cu, 5.9 g/t Au, 22.9 g/t Ag and 0.45% Mo over 3.07 metres core length, from 163.05 metres to 166.12 metres in drill hole CC-25-14, approximately 50 metres down plunge of the previously reported intercept of 14.8% Cu over 2.45 m in hole CC-23-03

• Discovery of a new polymetallic Cu-Au-Ag-Mo domain associated with vent-proximal feeder-controlled VMS mineralization

• High-grade bornite mineralization intersected in hole CC-25-16, grading 13.95% Cu, 0.62 g/t Au and 32 g/t Ag over 0.56 metres core length from 202.72 metres to 203.28 metres, indicating a transition to higher-temperature vent-proximal mineralization at depth

• Zone 1 discovery: hole CC-25-17A returned 4.38% Cu over 0.6 metres core length from 97.7 metres to 98.3 metres, southeast of historic mine workings in an area previously untested by drilling

• The results confirm the presence of a polymetallic copper-gold-silver-molybdenum VMS system with increasing grade and thickness at depth, highlighting strong potential to expand the Zone 2 mineralized corridor

Geological Significance

Zone 2 infill drilling indicates a steeply plunging VMS feeder system that increases in size and gold grade with depth, characterized by stacked sulphide lenses and preserved polymetallic metal zonation.

Mineralization appears spatially associated with gabbro sill horizons, interpreted to act as thermal and permeability traps controlling sulphide deposition.

The presence of expanding gabbro bodies and increasing metal endowment at depth supports the potential for additional high-grade Cu-Au-Ag-Mo mineralization along the down-plunge extension of Zone 2.

Next Steps

Northstar will update the Zone 2 three-dimensional geological model of the Cam Copper system to refine exploration targets along the feeder corridor and conduct step-out drilling along the down-plunge extension of Zone 2.

The forthcoming Micon NI 43-101 Technical Report will further evaluate the potential for the Cam Copper Surgical Mining Project, under which consortium partner Novamera Inc. may deploy its proprietary turnkey Surgical Mining™ solution to potentially extract up to 116,000 tonnes of high-grade Zone 2 conceptual copper material using 93 extraction holes over an estimated 31-month period¹ (Please see Northstar News Release dated July 23, 2025)

Cam Copper Surgical Mining Project Agreements

The Cam Copper Zone 2 Surgical Mining™ pilot program is advancing under a definitive Turnkey Surgical Mining Services Agreement (“the Agreement”) with Novamera Inc. executed on October 9, 2025 (Please see Northstar News Release dated October 9, 2025) and a collaborative consortium with Novamera, Micon International Limited and DIGITAL – Canada’s Global Innovation Cluster for digital technologies, under a Master Project Agreement announced November 24, 2025. On January 28, 2026, the Company reported that DIGITAL approved access for up to $4.0 million in total co-investment funding to partially support the consortium’s two-year, approximately $11 million Cam Copper Surgical Mining™ initiative aimed at accelerating the sustainable production of critical minerals (See DIGITAL news release dated March 2, 2026).

Northstar is advancing toward issuance of a Notice-to-Proceed under the Agreement by obtaining the necessary permits and project financing. The Company also intends to commission a NI 43-101-compliant Technical Report and Mineral Resource Estimate by Micon on the Cam Copper Project to formally evaluate Zone 2 Reasonable Prospects for Eventual Economic Extraction before making any production or development decision.

Management Statement

“Zone 2 drilling continues to deliver exceptional results for Northstar,” said Brian Fowler, P.Geo., President and CEO. “The presence of high-grade copper and gold polymetallic mineralization down plunge of previous drilling demonstrates the extension and endowment potential of the Cam Copper VMS feeder system and reinforces our belief that the project may host additional parallel high-grade copper zones laterally and at depth. Importantly, the discovery of this new Cu-Au-Ag-Mo mineralization enhances our geological model as we continue advancing plans with Novamera to potentially exploit near-surface high-grade copper at Cam Copper using Surgical Mining™ technology.”

Figure 1. Cam Copper Mine Polymetallic Cu-Au-Ag-Mo Zone 2 Horizon and VMS Extensions

 Figure 2. Zone 2 Longitudinal Section Illustrating 2025 Cu-Au-Ag-Mo Drill Hole Intercepts and Polymetallic Domain at Depth

 Photo 1. Zone 2 Breccia Clasts and Disseminated Cu Sulphides with Au and Ag (DDH CC-25-14)

 Photo 2. Polymetallic Brecciated Cu Sulphides with Au and Ag in Zone 2 (DDH CC-25-14)

 Photo 3. Massive and Stringer Bornite and Chalcopyrite with Au and Ag in Zone 2 (DDH CC-25-16)

Cam Copper Surgical Mining Project

Northstar is positioning to employ Novamera Inc.’s turnkey precision-mining solution to extract up to 120,000 tonnes of copper-rich material from Zone 2 at Cam Copper Project over a 31-month pilot window, using proprietary real-time downhole imaging, robotic drilling, and immediate backfilling to minimize surface disturbance and water discharge.

The previously signed Surgical Mining Services Agreement (Please see Northstar News Release dated October 9, 2025) and Master Project Agreement (Please see Northstar News Release dated November 24, 2025) with Novamera, DIGITAL and Micon International Limited are predicated on Novamera’s positive “Zone 2 Proposed Development and Surgical Mining Evaluation Study” (Please see Northstar News Release dated June 26, 2025) of Northstar’s near surface Zone 2 Exploration Target with tonnages ranging between 75,000 to 140,000 tonnes with grades ranging between 9% and 18% copper, with a conceptual average grade of 12% copper² (Please see Northstar News Release dated June 12, 2025).

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 approximately 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 averaging 10% copper over a 0.85 metre true width, 42-metre strike length and a minimum 140 metre depth extent from surface.³ Northstar’s 2023 and 2024 Zone 2 drilling (7 holes), including an intercept of 14.8% copper over 2.45 metres, core length, in drill hole CC-03-23 (Please See Northstar News Release dated Nov. 23, 2023), and Zone 2 Exploration Target² results corroborate these historic estimates. Novamera’s Surgical Mining is well-suited to exploit Zone 2 copper mineralization with minimum mining dilution and environmental impact.

Novamera’s innovative and proven concept Surgical Mining approach-featuring real-time reclamation and minimal water discharge can potentially streamline the regulatory pathway and accelerate project timelines. This is facilitated by rotary 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 low upfront capital requirement of approximately US $1.5 million and the remainder of project capital costs structured off balance sheet, Novamera’s approach offers an attractive risk-adjusted return profile³.

Footnotes

¹ The above scope of work is a preliminary conceptual estimate based on early-stage evaluation and does not constitute a production decision. A NI 43-101 reporting compliant Mineral Resource Estimate and supporting Technical Report are required to determine whether the Project has Reasonable Prospects for Eventual Economic Extraction.

² 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 NI 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.

³ Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File #KL-0843, Prospectus of Fidelity Mining Investments Ltd. 1962.

Table 1. Cam Copper – 2025 Drilling Assay Results (Weighted Averages)

Quality Control

Northstar Gold Corp. maintains an industry-standard analytical quality assurance and quality control and data verification program to monitor laboratory performance and ensure high-quality assays and includes the insertion of blanks, and certified standards into the sample stream. Results from this program confirm the reliability of the assay results.

The drill core is sawn in half with half of the core retained in the core box and the other half bagged and tagged for shipment in sealed containers. The samples collected in the 2025 Cam Copper drill program were then delivered to ALS Global in Timmins, Ontario for sample preparation and analyzed for gold and other elements by ALS Global in Vancouver, British Columbia.

The entire half-core sample was crushed to better than 75% passing 2mm, 250g riffle split and pulverized to 85% passing 75 microns. Pulps were then forwarded to ALS Global in Vancouver, British Columbia for analyses. Gold analysis is obtained via industry standard fire assay with ICP-AES finish using 30g aliquots. For samples returning greater than 10 g/t gold, follow-up fire assay analysis with a gravimetric finish is completed. Based on initial fire assay gold indications as well as visual indication of mineralization and alteration, samples are selected for re-assay by the screen metallic fire assay method. Samples are also analyzed for 48 trace and major elements by ICP-MS following a four-acid digestion. For samples returning greater than 10,000 ppm Cu, follow-up four acid digestion and ICP finish utilizing a 0.4 g sample is utilized. The ALS Global laboratories are ISO/IEC 17025:2017 accredited (Lab No. 579) and independent of the Company.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Chris Keech, P.Geo. (EGBC #27185), Principal Geologist of CGK Consulting Services Inc. Mr. Keech is a “qualified person” as defined by NI 43-101 and is independent of the Company. Mr. Keech has verified the data disclosed herein, including sampling, analytical, and QA/QC procedures underlying the drilling results. Verification included a visual review of the drill holes in three dimensions, a comparison of the assay results to the original assay certificates, a review of the drilling database, and a review of the core photography, which is consistent with standard industry practice. Mr. Keech consents to the inclusion in this release of said information in the form and context in which it appears. Mr. Keech has verified that the information herein is consistent with Northstar’s previously disclosed data and prior technical studies.

About Northstar

Northstar’s focus is to advance exploration and development of the near-surface Allied Gold Zone and the nearby high-grade Cam Copper VMS exploration and development projects on its 100%-owned Miller Copper-Gold Property near Kirkland Lake. In 2022 SRK (Canada) reported Exploration Target Study results at Allied ranging from 250k to 500k ounces of gold averaging between 1.4 g/t to 2.04 g/t and in 2025 Northstar reported Exploration Target Study results at Cam Copper ranging from 75,000 to 140,000 tonnes grading between 9% and 18% copper, with a conceptual average grade of 12% copper. Both Exploration Targets remain open to expansion.

Northstar is collaborating with DIGITAL – Canada’s Global Innovation Cluster for digital technologies, Novamera Inc., and Micon International Limited under an approximately $11 million consortium initiative focused on advancing data-driven mining solutions and Novamera’s proprietary Surgical Mining™ technology to efficiently and sustainably extract high-grade copper resources. The consortium is progressing toward potential small-scale copper production at the Cam Copper Project, currently targeted for early 2027.

On January 28, 2026, Northstar announced that consortium partners had received approval to access up to $4.0 million in total co-investment funding from DIGITAL in support of the Cam Copper Surgical Mining for Critical Minerals Project. Northstar anticipates receiving an initial reimbursement of approximately $300,000 by mid-April 2026.

On September 19, 2024, Northstar announced that the Company had signed a memorandum of understanding (“MOU”) with China-based Hunan Nonferrous to earn a minority interest in the Allied Gold Zone through the completion of a 10,000-metre drilling program aimed at expanding the deposit and supporting a NI 43-101 Mineral Resource Estimate. A due diligence site visit remains pending visitor visa approvals.

Northstar has 3 additional 100%-owned exploration projects in northern Ontario, including the 1,150 ha Rosegrove Property, situated 0.5 km from the Miller Copper-Gold Property, the 4,650 ha Bryce Gold Property (includes the recently optioned Britcanna Lease), an intrusive-gold / PME VMS project located along the projected east extension of the Ridout Break, and the Temagami-Milestone Cu-Ni-Co Critical Minerals Property located in Strathcona Township. Northstar is seeking exploration partners to advance all 3 properties.