Northstar Gold Corp. (CSE:NSG) announced that it has received approval, alongside consortium partners, to access up to $4 million in total co-investment funding from DIGITAL, Canada’s Global Innovation Cluster for digital technologies to advance the Cam Copper Surgical Mining for Critical Minerals Project.
The project, led by Novamera, is focused on applying Novamera’s Surgical Mining technology to support the extraction of critical minerals, including copper. Northstar is participating as a consortium partner with Novamera and Micon International Limited.
The approval follows an earlier announcement that the project was accepted under DIGITAL’s Future of Mining and Energy program. Under the program, Northstar expects to receive up to approximately $1.8 million, net of fees and adjustments.
The co-investment funding represents about 30% of the project’s approved expenditures of roughly $11 million and will be distributed over the project term to the three partners based on eligible costs.
Subject to final approvals and partner confirmations, Northstar expects its first reimbursement of approximately $300,000 on or before mid-April 2026.
Northstar’s participation will support the application of Novamera’s technology at its wholly owned Cam Copper Project near Kirkland Lake, Ontario.
The approach is designed to directly target mineralized zones from surface using large-diameter rotary drilling, with the goal of producing direct-shipping copper mill feed while reducing waste, surface disturbance, capital requirements, and permitting timelines compared with conventional underground mining.
The project is expected to advance in phases, with planned work including subsurface imaging, real-time orebody modelling, metallurgical testing, and regulatory engagement under Ontario’s critical minerals framework.
"This co-investment represents an important execution milestone as we advance the Cam Copper Surgical Mining pilot toward permitting and potential deployment," Northstar Gold CEO Brian Fowler said in a statement.
"Partnering with Novamera, Micon, and DIGITAL positions Northstar at the forefront of next-generation mining technologies while maintaining a disciplined, capital-efficient development strategy."
Separately, the company said it has granted a total of 11.25 million stock options to directors, officers, employees, and consultants. The options have an exercise price of $0.08, expire five years from the grant date, and are issued under the company’s stock option plan. Half of the options vest immediately, subject to a statutory four-month hold period, with the remainder vesting on the annual anniversary of the grant date.
Shares of Northstar were trading 12.5% higher on Wednesday morning.