CANADA - 79North Inc. (CSE: JQ; OTCQB: SVNTF; FRA: 6120) ('79North' or the 'Company') is pleased to announce successful drilling results from the Nassau gold project, Suriname, confirming the presence of near surface high-grade gold in oxidized saprolite and sheared and hydrothermally altered volcanic rocks including assay results up to 338.20 grams gold per tonne over 1.50 metre in saprolite and 99.58 grams gold per tonne over 1.00 metre in bedrock.

Phase 1 drilling operations commenced in early August and were completed mid-November.

Eighteen holes were completed for a total of 1,472.73 metres. Twelve holes (933.23 metres) were drilled at the Carbonara Target, and six holes (539.50 metres) were drilled at the Witlage Target. Jon North, CEO of 79North commented: 'We are very pleased to have encountered high grades of gold mineralization at Witlage in both saprolite and in bedrock in our first diamond drilling program. The very high grades reported exceed our expectations and confirm our belief that we are dealing with a potentially large gold-bearing system, potentially associated with a mineralized oxide blanket. We look forward to following up on these very encouraging results in 2022.'

Witlage Target

Drilling was completed on three sections over a strike length of 570 metres and a very strong shear zone was intersected over a strike length of 150 metres in NP-21-12 to 16 which are in the vicinity of surface rock chip samples that contain up to 27.98 grams gold per tonne reported previously (https://79north.ca/wpcontent/uploads/2021/04/79North-assays-from-the-Nassau-Project-Final.pdf). Local gold-bearing intersections were obtained in NP-21-13 and 14 and high-grade intersections were obtained in saprolite and below saprolite in bedrock on the section with scissor holes NP-21-15 and 16. The bedrock gold is associated with altered and sheared volcanic rocks, fine-grained felsic intrusive rocks, and fine-grained mafic dikes crosscut by quartz veins with associated pyrite. Gold values range up to 383.20 grams gold per tonne in highly oxidized saprolite and up to 99.58 grams gold per tonne in fresh bedrock. The highest gold grade of 383.20 grams gold per tonne occurs in a zone of highly oxidized saprolite that may be an oxide blanket associated with the shear zone observed in fresh bedrock. The gold-bearing oxide zone has an approximate thickness of 10 metres. The Company is evaluating further drilling of the oxide blanket with triple tube or hollow stem auger drilling to obtain greater core recovery of this material in the future.

About 79North Inc.

79North, is led by a team with extensive mineral exploration expertise and a track record of discoveries and exits in South America and globally. 79North currently holds an indirect interest in mineral concessions in northern Suriname and aims to become the premier junior exploration company in this under explored district of the prolific Guiana Shield. 79North's growing portfolio of high-quality targets which have not undergone modern exploration or drilling have a long history of artisanal mining and are strategically located near modern gold mines operated by major mining companies. 79North is a mineral exploration company focused on the acquisition, exploration, and development of properties for the mining of gold and other minerals. 79North has 91,547,241 common shares issued and outstanding and 145,759,276 common shares on a fully diluted basis.

Contact:

Tel: (416) 786-6348

Email: jon@79north.ca

Cautionary Note Regarding Forward-Looking Information

This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation, including information with respect to the exploration program at the Nassau gold project. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, including related to Covid-19 and the delay or failure to receive board, shareholder, or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 79North assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law

(C) 2022 Electronic News Publishing, source ENP Newswire