VANCOUVER, Feb. 1, 2012 /CNW/ - Copper North Mining Corp. ("Copper
North" or the "Company") (TSX.V: COL) is pleased to announce the
commencement of a Feasibility Study update for its 100% owned Carmacks
Copper Project ("Carmacks") located in the Yukon, Canada.
The Company has engaged M3 Engineering & Technology ("M3") of Tucson,
Arizona, USA to prepare an updated Feasibility Study for the Carmacks
Copper Project. M3 is a full service engineering, procurement and
construction management firm with significant global experience in the
development of copper heap leach projects. M3 previously prepared the
NI 43-101 compliant Feasibility Study report for Carmacks which was
issued in May 2007.
The new NI 43-101 Feasibility Study report will provide Copper North
with an up-to-date development plan, capital and operating cost
estimate, and financial analysis for the Carmacks Copper Project. The
update will be based on end of second quarter 2012 pricing and the
Feasibility Study report is expected to be issued in July 2012. The
Feasibility Study update will include engineering and design work
associated with the recently proposed project changes (see News Release
dated January 3, 2012).
Copper North's President and CEO, Dr. Sally Eyre stated "the renewed
engagement of M3 to prepare the Carmacks Feasibility Study update will
ensure continuity and efficiency of work and will enable the Company to
move the project forward in a timely manner. With a revised economic
analysis, we will be in a position to consider all financing options
available in order to advance project development".
About Copper North
Copper North is a Canadian mineral exploration and development company.
Copper North's mineral resource assets include the Carmacks Copper
Project located in the Yukon, and the high-grade, stratiform-copper
Redstone Deposit, 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 statements" There
can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. In making the forward-looking
statements in this release, the Company has applied certain factors and
assumptions that the Company believes are reasonable. Forward-looking
statements in this release are subject to numerous risks, uncertainties
and other factors that could cause actual results to differ materially
from those express or implied in such forward-looking statements. 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.
For further information:
Peter Oates, Manager, Investor Relations