VANCOUVER, Jan. 3, 2012 /CNW/ - Copper North Mining Corp. ("Copper
North" or the "Company") (TSX.V: COL) reports that it will not be
proceeding with the filed Notice of Appeal (see Western Copper
Corporation (TSX: WRN and NYSE Amex: WRN) news release dated March 25,
Dr. Sally Eyre, President and Chief Executive Officer of Copper North
stated "following recent discussions with the regulators regarding the
Carmacks Copper Project, the Company has elected not to proceed with
the Notice of Appeal, which was filed in March 2011 by Western Copper
Copper North is working in collaboration with the regulators, First
Nations and other stakeholders, in an effort to address the issues
raised by the Yukon Water Board in its Water Use Application QZ08-084.
An initial review of proposed project changes at the Carmacks Copper
Project has commenced and detailed engineering studies to support the
proposed changes will be undertaken in the first quarter, 2012.
Dr. Eyre further stated "We are encouraged that the regulators are
working diligently towards harmonizing the project licensing review
process in the Yukon. The Company remains committed to successfully
obtaining a Water Use Licence and to further advancing the Carmacks
Copper Project towards commercial production".
The Company will be taking the appropriate steps to confirm its
withdrawal of the appeal before the Yukon Court of Appeal.
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",
including the Company's intended use of the proceeds from the private
placement. 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. Important factors
that could cause actual results to differ materially from the Company's
expectations include 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.
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:
Sally Eyre, President & CEO
Peter Oates, Manager, Investor Relations