Northstar Gold Corp. Announces Non-Brokered Flow-Through Private Placement

Financing of Up to $1,000,000

Vancouver, March 20, 2020 - Northstar Gold Corp. (CSE: NSG) ("Northstar" or the "Company"), announces a non-brokered private placement financing (the "Offering") of up to 3,500,000 units of the Company (the "Units") at a price of $0.29 per Unit (the "Unit Price") for gross proceeds of up to $1,000,000. Each Unit comprises one common flow-through share (a "FT Share") and one-half of one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.43 for a period of 2 years from closing of the Offering.

All securities to be issued pursuant to the Offering will be subject to a 4-month hold period under applicable securities laws in Canada.

The Company has engaged Canaccord Genuity Corp. and Haywood Securities Inc. to act as its financial advisors for the offering. The Company may compensate persons who act as finders for the Offering in accordance with the rules of the Canadian Securities Exchange ("CSE").

The gross proceeds from the sale of the FT Shares will be used to incur eligible Canadian Exploration Expenses ("CEE") at the Company's 100%-owned Miller Gold Property, situated 18 km southeast of Kirkland Lake, Ontario. The Company will renounce CEE effective on or before December 31, 2020. The financing is expected to close on or about April 1, 2020.


About Northstar Gold Corp.

Prior to going public on the CSE on January 2, 2020 by way of a $3 million Initial Public Offering, Northstar operated for the past 11 years as a private company focused primarily on gold exploration in the prolific Kirkland Lake District in northeastern Ontario (>24.5 million ounces gold produced from 7 mines since 1915). During this time, the Company raised nearly $7 million to acquire and advance 3-100% owned gold and base-metal properties in the Kirkland Lake region. Northstar has an accomplished Board, Special Advisor and Management Group comprised of professionals highly experienced in exploration, mining, finance and investment banking on a global basis. In late February, 2020, Northstar commenced a $1.1 million Phase I exploration program, which includes 3,000 m of drilling on its flagship, early-resource stage Miller Gold Property, situated 18 km southeast of the town of Kirkland Lake and Kirkland Lake Gold's Macassa gold mine.


On behalf of the Board of Directors,

Mr. Brian P. Fowler, P.Geo.
President, CEO and Director

(604) 617-8191, bfowler@northstargoldcorp.com



For further information, please contact:

Derek Wood
Conduit IR
(403) 200-3569
dwood@conduitir.com



NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.