High North Resources Ltd.: Corporate Update- Montney Oil Horizontal Wells

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


Mr. Colin Soares, President of High North Resources Ltd. (TSX VENTURE:HN) (the
"Company" or "High North") is pleased to provide an update on the Company's
progress. 


The Company has been granted drilling licenses for 4 horizontal Montney test
wells from the Alberta Energy Regulator (AER) and has received all approvals for
surfaces leases. Construction crews have been mobilized and the Company has
contracted a drill contractor to begin work immediately. High North is expecting
to spud the first Block H Montney oil well shortly.


Recent activity in the area surrounding the Company's Block H lands has been
encouraging. Directly offsetting Block H, 9 Montney horizontal oil wells have
been licensed with 90 day production rates from 2 wells drilled to date at 486
and 360 BOE per day. Offset land sales in the area have reached as high as
$175,000 per section. 


High North has an option to acquire 129 sections of oil and gas leases
strategically located on trend with recent Montney, Duverney and Nordegg
hydrocarbon activity in the Kaybob area of Northwestern Alberta.


Non-Brokered Private Placement

On July 24th, 2013 the Company completed the first tranche of a non-brokered
private placement financing for gross proceeds of $3,379,945. The financing
resulted in the issuance of 6,492,700 units at a price of $0.35 per unit for
gross proceeds of $2,272,445 and 2,768,750 flow-through common shares at a price
of $0.40 per flow-through common share for gross proceeds of $1,107,500. Each
unit consisted of one common share and one-half common share purchase warrant,
with each whole warrant entitling the holder to acquire one common share for
$0.50 within 24 months. A second tranche of the proposed financing is scheduled
to close by the end of September, 2013. 


About High North Resources Ltd.

High North Resources Ltd. is a TSX.V listed oil and gas development company with
assets in the Peace River Arch area of Northwestern Alberta. The Company has an
option to acquire 129 sections (82,560 acres) of oil and gas leases
strategically concentrated into seven blocks with hydrocarbon potential, ranging
from the Cretaceous Dunvegan through to the Devonian Granite Wash formation.
Multiple conventional and unconventional oil targets are present including the
Montney, Duvernay and Nordegg formations.


READER ADVISORY

Neither the 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.


This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although High North believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in forward looking
statements. Forward looking statements are based on the beliefs, estimates and
opinions of High North's management on the date the statements are made. Except
as required by law, High North undertakes no obligation to update these
forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.


The forward-looking statements contained in this press release are made as of
the date of this press release, and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by securities law.


THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES
HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
High North Resources Ltd.
Colin Soares
President/Director
[phone] or Investor Relations: [phone]
[e-mail]
www.highnorthresources.com