VANCOUVER,
Dec. 17, 2012 /PRNewswire/ - Copper
North Mining Corp. ("Copper North" or "the Company") (TSX.V: COL)
is pleased to announce it has signed a Letter of Intent ("LOI")
with the Little Salmon Carmacks First Nation ("LSCFN") with respect
to consultation on the Carmacks Copper Project ("the Project") in
Yukon, Canada.
The Project is located in the LSCFN Traditional
Territory and the consultation will allow the First Nation to fully
understand the Project and how it will interact with their
traditional land uses.
President and Chief Executive Officer, Dr.
Sally Eyre stated "I am delighted
that together, the Company and LSCFN have been able to establish a
framework to continue consultation regarding the Project. Copper
North and LSCFN each support and promote a co-operative and
mutually respectful relationship concerning the environmental
assessment process." Eyre further stated, "following technical
review of the Project, and providing that the concerns of the LSCFN
have been reasonably resolved by the Company, we will work towards
executing an Impact and Benefits Agreement ("IBA")".
Chief Eric
Fairclough of LSCFN added "we are encouraged by the
Company's willingness to ensure that our citizens know and
understand the merits of this proposed project, and this LOI
signifies our mutual commitment to informed, respectful decision
making".
The LOI:
- Establishes the framework for consultation with LSCFN prior to
submission of the Project Proposal to YESAB for the Executive
Committee Screening Assessment and throughout the Quartz Mining
Licence and Water Use License regulatory processes;
- Commits Copper North to provide financial support to LSCFN so
they may retain independent technical advice with respect to the
assessment of the project and LSCFN may actively and productively
participate in the assessment and regulatory processes;
- Defines the communications protocol and relationship between
Copper North and LSCFN, ensuring regular communication and full
exchange of technical information related to the Project; and,
- Provides for the negotiation of an IBA, providing that the
concerns of LSCFN related to the Project have been reasonably
resolved by Copper North.
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
This news release includes certain
forward-looking information or forward-looking statements
(collectively "Forward-Looking Information") for the purposes of
applicable securities laws. Forward-Looking Information includes,
but is not limited to, statements with respect to proposed
exploration and development activities and their timing and
potential mineralization; possible events, conditions or
performance that are based on assumptions about future courses of
action; the timing and costs of future exploration and development
activities on Carmacks; permitting
and infrastructure time lines and requirements; requirements for
additional water rights; and operating cost estimates. In
certain cases, Forward-Looking Information can be identified by the
use of words and phrases such as "plans", "expects" or "does not
expect", "scheduled", "estimates", anticipates", "potential",
"recommends" or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would" or
"will be taken", "occur" or "be achieved". 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 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, timeliness of government approvals, 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 proposed exploration and development of Carmacks will proceed as planned, market
fundamentals will result in sustained metals and mineral prices,
current exploration and other objectives concerning Carmacks can be achieved and that the
Company's other corporate activities will proceed as expected and
any additional financing needed will be available on reasonable
terms. Although the Company has attempted to identify important
factors that could affect the Company and may cause actual actions,
events or results to differ materially from those described herein,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that Forward-Looking Information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
Forward-Looking Information. 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.
SOURCE Copper North Mining Corp.
