Northstar Gold Corp. (CSE:NSG) has closed the first tranche of a non-brokered private placement of critical minerals flow-through common shares, raising gross proceeds of approximately C$300,000 to advance its Cam Copper project in Ontario.
The offering consisted of nearly 4.3 million flow-through shares priced at $0.07 per share, with proceeds designated for eligible Canadian exploration expenses to be renounced to subscribers no later than December 2026.
A second tranche is expected to close in the near term.
Proceeds will fund geological and block model updates for Zone 2, metallurgical testing, an NI 43-101 Technical Report and Mineral Resource Estimate, permitting, mine planning, and initial deployment of Novamera's Surgical Mining system.
Northstar's 100%-owned Cam Copper project is located 18 kilometres southeast of Kirkland Lake, Ontario. A Surgical Mining pilot program is advancing under a consortium with Novamera, Micon International Limited, and DIGITAL, Canada's Global Innovation Cluster for digital technologies.
The group is targeting small-scale copper production at Cam Copper in early 2027.
Northstar and its partners have been approved to access up to $4 million in co-investment funding from DIGITAL, part of a broader initiative totaling approximately $11 million.
"Northstar is pleased with continued government and strategic investor support to advance the company's Cam Copper Zone 2 copper Surgical Mining pilot project," said Brian Fowler, Northstar’s CEO.