Northern Vertex Reports Record Quarterly Production, Revenue & Adjusted EBITDA.

VANCOUVER, BC: Northern Vertex Mining Corp. (TSX: NEE) ("Northern Vertex" or the "Company") is pleased to announce record production of 14,673 gold equivalent ounces, record revenue of $26.8 million and record adjusted EBITDA of $13.5 million for the quarter ended September 30 ("FY Q1 2021") from the Company's 100% owned Moss Gold Mine in NW Arizona. All figures are expressed in U.S. dollars unless otherwise noted, non-IFRS metrics are described later in this press release and gold equivalent production is calculated at realized gold and silver prices for the quarter of $1,887 and $25.32, respectively.

Highlights for the Quarter ended September 30th

Record revenue of $26.8 million

Record adjusted EBITDA of $13.5 million

Record earnings from mine operations of $12.0 million before depreciation and depletion

Record gold equivalent production of 14,673 ounces

Record gold production of 13,083 ounces

Cash cost of $954/oz, including approximately $47/oz in one-time costs tied to the change of mining contractor

Moss Mine AISC of $1,317/oz which included $292/oz in capital expenditures tied to the construction of the powerline, exploration and a heap leach pad expansion.

Net loss of $18.5 million driven by non-cash derivative liabilities

Cash on hand of $12.1 million

Ken Berry, CEO of Northern Vertex stated: "Having financed and built the Moss Mine during a challenging market environment, it is a pleasure to share this quarter's record production and financial metrics as we fully participate in this strong gold market. Our record earnings from mine operations demonstrate the robust economics of the Moss Mine. The net loss this quarter is a result of the non-cash, $26.3 million mark-to-market accounting effect of our derivative liabilities, due to the strong performance of both our share price and the silver price this quarter. The Northern Vertex team continued to exceed expectations with numerous production records including the completion of key capital projects such as the powerline connection and west pit pioneering. Through an ambitious exploration program that is underway, we continue to see significant opportunity to expand the resource through the drill-bit, with the rapid advancement of the Phase I, 18,000-meter drill program. With the success we have seen with Phase I exploration results, the Northern Vertex Board recently approved a 30,000 meter Phase II drill program, and Northern Vertex will be providing updates on the near-mine...