May 24, 2012
Copper North Announces Non-Brokered Private Placement
Vancouver, British Columbia -- Copper North Mining Corp. ("Copper North" or the "Company") (TSX.V: COL) is pleased to announce a non-brokered, private placement of 6,000,000 common shares of the Company (the "Shares") at a price of $0.167 per Share for aggregate gross proceeds of $1,002,000 (the "Private Placement").
The proceeds raised from the Private Placement will be used to finance the recently announced exploration program at the Company's high-grade stratiform-copper Redstone Property, located in the Northwest Territories, Canada; and for general working capital. The Redstone exploration program, comprising geological mapping, geophysical surveying, geochemical sampling and prospecting will commence in July 2012. The program will focus on assessing the lateral and vertical extent of copper mineralization around known mineral occurrences and newly-delineated prospective areas.
The Private Placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws or an exemption from such registration is available.
About Copper North
Copper North is a Canadian mineral exploration and development company. Copper North's assets include the Carmacks Copper Project located in the Yukon, and the high-grade, stratiform-copper Redstone Property, located in the Northwest Territories. Copper North trades on the TSX Venture Exchange under the symbol COL.
Please visit www.coppernorthmining.com.
On behalf of the Board of Directors:
"Sally L. Eyre"
Dr. Sally L. Eyre
President, CEO and Director
For Further Information:
Peter Oates, Manager, Investor Relations
This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the completion of the proposed Private Placement, use of proceeds from the Private Placement, proposed exploration and development activities and their timing, potential mineralization and the announcement of results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the timeliness of regulatory approvals, the timing and success of future exploration and development activities, exploration and development risks, market prices, exploitation and exploration results, availability of capital and financing, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, unanticipated environmental impacts on operations and other exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that the Private Placement will receive regulatory approval and will proceed as planned, the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.
You can view the Next News Releases item: Fri Jun 1, 2012, Copper North Announces Closing Of Non-Brokered Private Placement
You can view the Previous News Releases item: Thu May 10, 2012, Copper North Reviews Historical Resource Estimate At Redstone Property, Northwest Territories
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