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
1)Gold 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

Revenu 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

see & read more on
https://www.northernvertex.com/site/assets/files/2390/2021-08-13_nee_q2-_final_for_release.pdf