Copper North Announces Private Placement and Extends Warrant Exercise Period

VANCOUVER, BC--(Marketwired - April 05, 2016) - Copper North Mining Corp. ("Copper North" or the "Company") (TSX VENTURE: COL) announces that it plans to raise up to $300,000 by way of a non-brokered private placement (the "Private Placement") and that it plans to extend the exercise period of warrants issued pursuant to a private placement completed on April 24, 2014 by one year from the original expiry date.

The Private Placement will consist of the sale of up to 10 million units (the "Units") at a price of $0.03 per Unit, each Unit consisting of one common share of the Company (a "Share") and one warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.05 for a period of 24 months from closing.

The Company intends to use the proceeds from the Private Placement toward completion of an updated Preliminary Economic Assessment on the Carmacks Project, and working capital and general corporate purposes.

The Private Placement is subject to TSX Venture Exchange approval and all securities will be subject to a four month hold period.

In addition to the financing described above, the Company plans to extend the term of the warrants issued pursuant to a private placement completed on April 24, 2014, of which 6,180,000 warrants remain outstanding (the "2014 Warrants"). Each of the 2014 Warrants has an exercise price of $0.07 and is set to expire on April 24, 2016. The Company has agreed, subject to the approval of the TSX Venture Exchange, to extend the exercise period of the 2014 Warrants by one year to April 24, 2017. The other terms of the 2014 Warrants are to remain unchanged.

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.

On behalf of the Board of Directors:
Dr. Harlan Meade
President, CEO and Director

For Further Information
Dr. Harlan Meade
President and Chief Executive Officer
Tel: 604.398.3451
Email: info@coppernorthmining.com
Web: www.coppernorthmining.com 

Copper North is a Canadian mineral exploration and development company. Its assets include the Carmacks Project located in the Yukon, the Redstone Property located in the Northwest Territories, and the Thor Property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.

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; the price of securities issued pursuant to the Private Placement; use of proceeds from the Private Placement; proposed exploration and development activities and their timing; and plans to extend the term of the 2014 Warrants.  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 and success 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, and the extension of the term of the 2014 Warrants will receive all requite regulatory approvals. 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES