Cam Copper Project

• High-Grade Copper Development & VMS Exploration Opportunity

  The historic Cam Copper Mine is a road-accessible, high-grade copper-gold-silver VMS system located approximately 2.5 kilometres southwest of the Allied Gold Zone on Northstar’s 100%-owned Miller Copper-Gold Property near Kirkland Lake, Ontario.

  Once a small-scale producer of direct-shipping copper ore, Cam Copper has been transformed by Northstar drilling into a modern high-grade, polymetallic VMS exploration and development opportunity. Northstar is currently advancing the near-surface Zone 2 copper horizon toward potential development using Novamera Inc.’s Surgical Mining™ technology while continuing to evaluate the considerably larger VMS exploration potential along strike and at depth. 

  

  Historic High-Grade Copper Mine

  Cam Copper is the southernmost of three historic copper shaft mines and small-scale past producers situated along the Boston Creek Copper Belt. Underground development between 1929 and 1953 included a 220-foot vertical shaft, crosscuts and underground drifting.

  Historic shipments demonstrate the high-grade nature of the mineralization. A 346-ton shipment in 1955 produced a recovered grade of 6.3% Cu, while an earlier 22-ton shipment reportedly graded 12.72% Cu, 0.84 oz/t Ag and 0.03 oz/t Au. 

  Northstar returned to Cam in 2023, with surface sampling returning assays ranging from 0.99% to 31.8% Cu. Nineteen select samples collected from the historic mine area had a weighted-average grade of 14.0% Cu, while one sample grading 31.8% Cu also returned 452 g/t Ag. 

  Northstar Discovers a High-Grade VMS System

  Northstar’s initial 2023 diamond drilling established that the historic mine forms part of a larger copper-rich VMS system.

  All four holes of the initial 720-metre program intersected copper-rich VMS mineralization. Significant results included:

  • 14.78% Cu over 2.45 m, including 21.7% Cu over 1.35 m – Zone 2 
  • 8.17% Cu over 1.50 m, including 16.05% Cu over 0.60 m – Zone 2 
  • 3.12% Cu over 3.60 m, including 19.45% Cu over 0.50 m – Zone 1 
  • 5.91% Cu over 1.50 m, including 9.92% Cu over 0.50 m – Zone 3 

  The 14.8% Cu Zone 2 intercept represented a significant increase in mineralized thickness and provided early evidence that the system could expand southeast and down plunge. 

  2025 Definition Drilling – Polymetallic System Strengthens at Depth

  A seven-hole, 1,204-metre definition drill program, completed in December 2025, was designed to further define Zone 2 and support preparation of an NI 43-101 Technical Report and Mineral Resource Estimate.

  The program confirmed pronounced down-plunge continuity and metal zonation within the high-grade VMS system and discovered a new copper-gold-silver-molybdenum domain at depth. 

  Hole CC-25-14 intersected:

  • 3.05% Cu, 5.9 g/t Au, 22.9 g/t Ag and 0.45% Mo over 3.07 metres
  • approximately 50 metres down plunge from the earlier 14.8% Cu Zone 2 intercept.

  Deeper hole CC-25-16 intersected massive and stringer bornite and chalcopyrite grading:

  • 13.95% Cu, 0.62 g/t Au and 32 g/t Ag over 0.56 metres. 

  The drilling indicates a steeply plunging VMS feeder system with increasing size and gold grade at depth, characterized by stacked sulphide lenses and preserved polymetallic metal zonation. The results support additional high-grade Cu-Au-Ag-Mo exploration potential along the down-plunge extension of Zone 2. 

  

  Cam Copper Mine Zone 2 Surgical Mining Exploration Target and VMS Extension Drilling

  

  2025 Zone 2 Exploration Target

  In 2025, Northstar reported a conceptual Exploration Target for the near-surface Zone 2 ranging from:

  75,000 - 140,000 tonnes
  Grading 9% – 18% Cu
  Conceptual average grade: ~12% Cu*

  Zone 2 is interpreted as a narrow, steeply dipping Besshi-style VMS horizon extending from surface to approximately 200 metres depth over an approximate 125-metre strike length and remains open at depth. 

  * 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 Exploration Target projections as current mineral resources. 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.

  Surgical Mining™ – A Potential Development Pathway

  The geometry and high grade of Zone 2 provide the basis for Northstar’s strategy to evaluate Surgical Mining™ as an alternative to conventional underground development.

  Northstar has entered into a definitive Turnkey Surgical Mining Services Agreement with Novamera Inc. and is advancing Cam Copper through a consortium with Novamera, Micon International Limited and DIGITAL – Canada’s Global Innovation Cluster for digital technologies.

  The approximately $11 million Surgical Mining for Critical Minerals Project has been approved for access to up to $4 million in DIGITAL co-investment funding. 

  Novamera's proposed approach uses large-diameter surface drilling, real-time downhole imaging, data analytics and immediate backfilling to selectively extract high-grade mineralization while targeting reduced dilution, surface disturbance and water discharge.

  Current work includes geological and block modelling, metallurgical testing, preparation of an NI 43-101 Technical Report and Mineral Resource Estimate, permitting, detailed engineering, mine planning and site preparation. 

  A Larger VMS Exploration Opportunity

  Cam Copper is not solely a Zone 2 development project.

  Northstar exploration has identified a southeast-trending belt of VMS mineralization and geophysical targets extending approximately one kilometre southeast of the historic mine.

  A strong near-surface 200 Siemens EM conductor has a minimum strike length of approximately 350 metres and depth extent of approximately 150 metres and may represent a southeast extension of the Zone 2 VMS horizon. 

  A subsequent 1,465-metre drilling program discovered a 500-metre-long stratiform horizon with anomalous zinc and gold values and a separate 15.76-metre-thick copper-bearing horizon southeast of the historic workings. 

  Together with the strengthening polymetallic system at depth, these targets provide Northstar with opportunities to expand Zone 2 and discover additional copper-rich VMS horizons along strike, down plunge and laterally within the broader Cam Copper system.