Dr. Harlan Meade reports

COPPER NORTH TO COMPLETE OVERSUBSCRIBED FLOW-THROUGH PORTION OF FINANCING

Copper North Mining Corp. expects to complete the oversubscribed flow-through portion of the non-brokered private placement announced on Nov. 24, 2014, on Dec. 22, 2014.

The flow-through portion of the private placement consists of 9,639,666 flow-through shares (increased from the previously announced amount of five million flow-through shares) at a price of six cents per flow-through share for aggregate gross proceeds of $578,380. Upon completion of the flow-through private placement, the company will pay aggregate finders' fees in the aggregate amount of $42,509 in cash and 687,483 finders' warrants, whereby each finder's warrant entitles the holder to purchase one additional common share of the company at a price of six cents for a period of two years from the date of issuance.

All flow-through shares, finders' warrants and any shares issued upon exercise of finders' warrants will be subject to a four-month hold period commencing on the date of issuance of the flow-through shares and finders' warrants. The company intends to use the proceeds from the flow-through portion of the private placement for exploration at the Carmacks project and at the Thor property.

The company anticipates that the unit portion of the private placement, consisting of the sale of up to 15 million units, will be completed in early January, 2015. As previously disclosed, each unit will consist of one common share of the company and one-half of one non-transferable warrant. Each warrant will entitle the holder to purchase one additional share at a price of nine cents for a period of 24 months from the issuance date. The company intends to use the proceeds from the unit portion of the private placement to complete the technical review and for working capital and general corporate purposes.

Dr. Harlan Meade, president and chief executive officer of the company, purchased 340,000 flow-through shares. His participation in the private placement constitutes a related-party transaction as defined in Multilateral Instrument 61-101. This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to, nor the consideration paid by, such directors and officers exceeds 25 per cent of the company's market capitalization.

The company did not file a material change report more than 21 days before the expected closing of the private placement as the details of the participation therein by related parties of the company were not settled until shortly prior to closing of the private placement and the company wished to close on an expedited basis for sound business reasons.

The private placement is subject to TSX Venture Exchange approval.

We seek Safe Harbor.