Northern Vertex Reports Revenue of US$16.6 Million Financial Results for Quarter Ending June 30, 2021

VANCOUVER, BC, Aug. 13, 2021 /CNW/ - Northern Vertex Mining Corp. (TSXV: NEE) (OTC Nasdaq Intl: NHVCF) ("Northern Vertex" or the "Company") a U.S.-focused gold producer with district-scale exploration potential in the Walker Lane Trend in Arizona and Nevada, is pleased to announce financial results for the quarter ending June 30, 2021. All figures are expressed in US dollars unless otherwise noted.

Highlights for the Quarter ended June 30, 2021

Revenue of $16.6 million
Cash on hand at quarter-end of $6.9 million
Earnings from mine operations of $5.0 million before depreciation and depletion
Gold equivalent production of 7,823 ounces¹
Gold sales 8,045 ounces
Gold equivalent sales of 9,160 ounces¹

¹Gold equivalent is calculated at a 75:1 ratio

Michael G. Allen, President of Northern Vertex stated, "The completion of the 3A Heap Leach construction project marks the close of the largest capital project at Moss since mine construction in 2018. The team now has a refreshed focus on continuous improvement initiatives, which include:

Further debottlenecking the crusher, which has already delivered more than a 40% reduction in unit costs year over year moving from 1/4" to 3/8" crush size,
Improving drill and blast operating procedures to improve fragmentation and throughput,
Improving our mine plan as we advance our ambitious infill and exploration drill program, and
Reducing mining and overhead costs."

Consolidated Three and Six Months ended June 30, 2021 Financial Results

_{US$'000 (except per share amounts)}	Three Months Ended June 30, 2021	Six Months Ended June 30, 2021
Revenue	16,590	32,991
Costs of sales (including depreciation and amortization)	(13,848)	(27,129)
Operating income (loss)	1,504	3,051
Net income (loss)	741¹	(834)²
Net income (loss) per share (basic)	0.00	(0.00)

^1.	Includes a non-cash accounting derivative revaluation gain of $805 driven by a decrease in the NEE share price that decreased the warrant ($860) and convertible debenture ($236) derivative liabilities, and offset by the silver stream embedded derivative ($291) due to an increase in silver price during the quarter.
^2.	Includes a non-cash accounting derivative revaluation loss of $834. The silver stream embedded derivative loss of $3,793 tied to an increase in silver price, was offset by convertible debenture derivatives gains of $809, and warrant derivative gains of $2,150 due to a decrease in the NEE share price.

Consolidated Three and Six Months ended June 30, 2021
Operating Statistics

_{US$'000 (except per ounce amounts)}	Three Months Ended June 30, 2021	Six Months Ended June 30, 2021
Average realized gold price ($/oz)	1,793	1,797
Ore Tonnes Mined (t)	682,970	1,388,624
Ore Stacked (t)	640,358	1,333,045
Grade (g/t Au)	0.47	0.48
Gold Ounces Produced	7,054	15,842
Gold Ounces Sold	8,045	16,166
Total Cash Costs ($/oz)	1,168	1,158
Moss Mine AISC ($/oz)¹	1,973	2,007
Capital Expenditures	6,410¹	13,591²

^1.	AISC includes $6,410 of quarterly capital expenditures, including $4,833 on the construction of a new heap leach pad and $1,264 of exploration drilling.
^2.	AISC includes $13,591 of half-year capital expenditures, including $9,901 on the construction of a new heap leach pad and $3,030 of exploration drilling.

Qualified Person

The foregoing technical information contained in this news release has also been reviewed and verified by Mr. Joseph Bardswich, P.Eng., a Qualified Person ("QP") for the purpose of National Instrument 43-101 (Disclosure Standards for Mineral Projects).

Dr. Warwick Board, P.Geo., Vice President Exploration of Northern Vertex, is the Qualified Person as defined by NI 43-101 responsible for the Moss Regional Exploration Project and has reviewed and approved the scientific and technical information in this news release related thereto.

Full Condensed Interim Consolidated Financial Statements and the Management Discussion & Analysis can be found at www.sedar.com and the Company's website at northernvertex.com.

Non-IFRS Performance Measures

The following tables represent the calculation of certain Non-IFRS Financial Measures as referenced in this news release.

Reconciliation to Cash Costs and All In Sustaining Costs

_{US$'000 (except per ounce amounts)}	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Gold ounces sold		8,045		16,166

Cash costs reconciliation
Cost of sales	$	13,848	$	27,130
Less: Depreciation and depletion		(2,286)		(4,463)
Add: Refining and transportation		57		151
Less: Silver revenue		(2,219)		(4,092)
Cash costs		9,400		18,726
Cash costs per ounce of gold sold	$	1,168	$	1,158

Sustaining capital expenditures		6,410		13,591
Accretion		66		134
		15,876		32,451
Moss Mine AISC per ounce sold	$	1,973	$	2,007

About Northern Vertex Mining Corp.

Northern Vertex offers investors a rare combination of cash flow, production, top-tier management and exceptional exploration potential within two projects on the Walker Lane Gold Trend of western Nevada and Arizona. Management is executing a clear strategy that expands production and resources at the Moss Mine in Arizona while aggressively exploring the Hercules Project in Nevada.

ON BEHALF OF THE BOARD OF NORTHERN VERTEX
"Michael G. Allen"
President

CORPORATE INQUIRIES:
Michael G. Allen, President
Company Website: www.northernvertex.com
+1 (855) 633-8798 Toll Free
+1 (604) 601-3656 Office
Email: mike@northernvertex.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as scheduled, may, intend, plan, expect, anticipate, believe or other similar words. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. US investors should be aware that mining terminology used for Canadian mineral project reporting purposes differs significantly from US terminology.

SOURCE Northern Vertex Mining Corp.