SHAREHOLDERS OF CONCOPPER ENTERPRISES INC., BRENBAR MINES LIMITED AND MIRADO
NICKEL MINES LIMITED APPROVE AMALGAMATION.

TORONTO, Dec. 2 /CNW/ - CONCOPPER ENTERPRISES INC. ("Concopper"), BRENBAR MINES LIMITED ("Brenbar") and MIRADO NICKEL MINES LIMITED ("Mirado") (collectively referred to as the "Amalgamating Corporations") are pleased to announce that their respective shareholders have approved the amalgamation (the "Amalgamation") among such Amalgamating Corporations.

The Amalgamation is expected to become effective on January 1, 2011. After giving effect to the Amalgamation the resulting issuer, Micon Gold Inc., will have approximately 5,000,000 class A shares issued and outstanding and 469,357 class B shares issued and outstanding on a fully diluted basis. The share exchange ratios for each Amalgamating Corporation were approved as follows:  (i) for every one class A share of Concopper, shareholders will receive 1.0200 Micon Gold Inc. class A shares, and for every one class B share of Concopper, shareholders will receive 0.3116 Micon Gold Inc. class B shares, (ii) for every one common share of Brenbar, shareholders will receive 0.0363 Micon Gold Inc. class A shares, (iii) for every one common share of Mirado, shareholders will receive 0.4185 Micon Gold Inc. class A shares.

Micon Gold Inc. is expected to have approximately $156,000 working capital and no material debt as of the effective date of the Amalgamation, January 1, 2011.

For further information regarding the Amalgamation, please refer to the detailed management information circulars in respect of the special meetings of shareholders of the Amalgamating Corporations, which were mailed to the shareholders and filed on SEDAR at www.sedar.com.

Additionally, a stock option plan for Micon Gold Inc. was presented and approved by a majority vote at the special meetings of each Amalgamating Corporation. 

This release contains forward-looking statements, which reflect the current views of the respective management of the Amalgamating Corporations as to future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to competitive market conditions, financial data, and other risks or uncertainties detailed from time to time in the filings made by the Amalgamating Corporations with securities regulatory authorities. These forward-looking statements represent the judgment of the respective board of directors of the Amalgamating Corporations as of the date of this release and any changes in the assumptions or external factors could produce significantly different results.

For further information:

Contact:  Sigrid Ades, Secretary-Treasurer

Office: [phone]
Email: [email protected]