Dr. Harlan Meade reports
COPPER NORTH CLARIFIES TECHNICAL DISCLOSURE
As a result of a review by the B.C. Securities Commission, Copper North Mining Corp. is issuing the following news release to clarify certain technical disclosure.
Disclosure of exploration target at Carmacks project
In the company's news releases dated Sept. 8, 2015, and Sept. 23, 2015, in its corporate presentation dated Oct. 3, 2015, and in an interview with the Investor News Network dated Oct. 5, 2015, the company reported an exploration target at its Carmacks project in a manner that is non-compliant with National Instrument 43-101. The company did not include a range of grades for the exploration target, nor did it provide the cautionary language required under NI 43-101. It also did not make clear that the stated tonnage potential is a conceptual target for further exploration and not resources.
The company wishes to clarify its previous disclosure of the Carmacks project exploration target and cautions investors not to rely on the previous disclosure contained in the news releases, corporate presentation and interview referred to herein. The company has updated its corporate presentation and its website accordingly.
The reported tonnages are based on the fill-in drill hole data and historical drill hole data to define a 3-D wire frame model of the mineralization that defines the boundaries of the mineralization. The tonnage estimates are based on a density of 2.7 tonnes per cubic metre. The range of grades for copper mineralization described herein is based on historical and new drill holes that define the deposit model.
The potential tonnage of oxide and sulphide mineralization in Zone 2000S ranges from 1.6 million to 1.8 million tonnes with a grade ranging from 0.30 to 0.70 per cent copper. The exploration target in Zone 2000S extends to an estimated depth of 190 metres and is open to depth and south.
The potential tonnage of oxide and sulphide mineralization in Zone 13 ranges from seven million to nine million tonnes with a grade ranging from 0.30 to 0.70 per cent copper. The exploration target in Zone 13 extends to an estimated depth of 120 metres and is open to depth and along strike to the north and south.
Disclosure of historical estimate at the Redstone property
The disclosure of the historical estimate for the Redstone property presented in the company's corporate presentation dated Oct. 3, 2015, and on its website was not disclosed in accordance with NI 43-101.
The historical estimate for the Redstone property is derived from a technical report entitled "Technical report on the Coates Lake copper deposit, Nahanni mining district, western Northwest Territories for Lumina Resources Corp." dated Aug. 15, 2005, prepared by A.W. Gourlay, PGeo. This technical report was filed on SEDAR on April 2, 2007, under the profile of Western Copper and Gold Corp., a predecessor company to Copper North.
The source and date of the historical estimate, key assumptions, standards, and methods used to prepare the historical estimate, and information concerning further work required to upgrade or verify the historical estimate as current mineral resources are contained in a news release in May, 2012.
Copper North is not treating this historical estimate as current mineral resources, and the qualified person responsible for review of the historical resource on behalf of the company has not performed sufficient work to classify the historical estimate as current mineral resources or mineral reserves.
The company has updated its website and its corporate presentation to ensure that all references to the historical estimate at the Redstone property comply with NI 43-101.
Dr. Harlan Meade, PGeo, is the qualified person responsible for the preparation of this news release and has reviewed and approved the scientific and technical information contained herein.
We seek Safe Harbor.
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