Friday, May 21st, 2021, Vancouver, BC – Northern Vertex Mining Corp. (TSX.V: 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 March 31st.

Highlights for the Quarter ended March 31st

Revenue of $16.4 million
Cash on hand of $13.9 million
Earnings from mine operations of $5.3 million before depreciation and depletion
Gold equivalent production of 9,912 ounces1
Gold production of 8,787 ounces
Completed the acquisition of Eclipse Gold Mining Corp.
1 Gold equivalent is calculated at a 75:1 ratio
1 All figures are expressed in USD unless otherwise noted, non-IFRS metrics are described later in this press release.

Michael G. Allen, President of Northern Vertexstated, “Our management team is executing well against our operating plan, and we are improving our 2021 mine plan. Our mining sequence is now focused on maximizing ore delivery from the West pit, which was forecast to produce lower grades than previously mined from the Center pit, however, we are pleased to see production grades that are currently exceeding our West pit model. In addition, we have been able to achieve a higher throughput which has more than offset the lower grades allowing for an increase in production when compared to the same quarter of 2020.” Mr. Allen continued, “We continue to advance an ambitious infill and exploration drill program that was initiated in 2020, and we see significant opportunity to continue to strengthen our 2021 mine plan, identify higher gold grades, and expand our Moss resources.”

Consolidated Three Months ended March 31, 2021 Financial Results

US$'000 (except per share amounts) Three Months Ended
March 31, 2021 Three Months Ended
March 31, 2020
Revenue 16,402 13,088
Costs of sales (including depreciation and amortization) (13,282) (10,069)
Operating income (loss) 1,547 2,374
Net income (loss) (1,575)1 7,5112
Net income (loss) per share (basic) (0.00) 0.03
Includes a non-cash accounting derivative revaluation loss of $1,638 and finance costs of $1,566. The derivative revaluation loss is a result of an increase in the silver price within the silver stream embedded derivative ($3,502), offset by a decrease in the NEE share price that decreased the warrant ($1,290), and convertible debenture ($574) derivative liabilities. The Finance costs include a $1,005 of non-cash cost tied to the silver stream.
Includes a non-cash accounting derivative revaluation gain of $5,760 - tied to the convertible debentures ($705) due to an increase in the NEE share price, warrants ($2,320) due to an increase in the NEE share price, and silver stream embedded derivative ($2,735) due to an increase in silver price.
Consolidated Three Months ended March 31, 2021
Operating Statistics

US$'000 (except per ounce amounts) Three Months Ended
March 31, 2021 Three Months Ended
March 31, 2020
Average realized gold price ($/oz) 1,801 1,560
Ore Tonnes Mined (t) 705,654 572,104
Ore Stacked (t) 692,688 544,067
Grade (g/t Au) 0.48 0.69
Gold Ounces Produced 8,787 7,379
Gold Ounces Sold 8,121 7,469
Total Cash Costs ($/oz) 1,148 862
Moss Mine AISC ($/oz)1 2,041 991
Capital Expenditures 7,1811 870
AISC includes $7,181 of capital expenditures, including $5,000 on the construction of a new heap leach pad and $1,800 of exploration drilling.
Quarter ended March 31, 2021 – Operations

During the three months ended March 31, 2021, a total of 705,654 ore tonnes were mined at a grade of 0.48 grams per ton, and a strip ratio of 2.15. The proportion of total ore being sourced over the quarter from the various pits was: 23% East pit, 17% Center pit, and 60% West pit. The elevated strip ratio was partially a result of work to remove a slough in the south wall of the East pit.

The key mining projects advanced during quarter included:

Completed 48,980 feet of infill and exploration drilling.
Achieved 85% completion on the heap leach pad expansion.
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.

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
March 31, 2021 Three Months Ended
March 31, 2020
Gold ounces sold 8,121 7,469

Cash costs reconciliation
Cost of sales $ 13,282 $ 10,069
Less: Depreciation and depletion (2,177) (2,195)
Add: Refining and transportation 94 49
Less: Silver revenue (1,873) (1,482)
Cash costs 9,326 6,441
Cash costs per ounce of gold sold $ 1,148 $ 862

Sustaining capital expenditures 7,181 870
Accretion 68 90
16,575 7,401
Moss Mine AISC per ounce sold $ 2,041 $ 911
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