Copper North Increases Financing

VANCOUVER, BC--(Marketwired - June 23, 2016) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Copper North Mining Corp. ("Copper North" or the "Company") (TSX VENTURE: COL) is pleased to report that the previously announced financing (see June 2, 2016 news release) has been increased to $853,000 (the "Private Placement").

The Company now plans to issue up to 4.1 million units (the "Units") at a price of $0.15 per Unit for gross proceeds of $615,000 and up to 1.4 million flow-through shares (the "FT Shares") at a price of $0.17 per FT Share for gross proceeds of $238,000. Each Unit will consist of one common share of the Company (a "Share") and one non-transferable warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.25 for a period of 24 months from closing.

The Company has agreed to pay 7.5% in cash in finders' fees and to issue 10% in warrants (the "Finders' Warrants") in connection with certain portions of the Private Placement. Each Finders' Warrant entitles the holder to purchase one Share at a price of $0.25 for a period of 24 months from closing.

The Company intends to use the proceeds from the sale of FT Shares for exploration at the Thor property and plans to use the proceeds from the sale of Units toward completion of an updated Preliminary Economic Assessment on the Carmacks Project, as well as working capital and general corporate purposes.

All securities issued, including common shares to be issued upon exercise of Warrants or Finders' Warrants, are subject to TSX Venture Exchange acceptance and a four month hold period.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws or an exemption from such registration is available.

On behalf of the Board of Directors:

Dr. Harlan Meade
President, CEO and Director

About Copper North

Copper North is a Canadian mineral exploration and development company. Copper North's assets include the Carmacks Project located in the Yukon, the Redstone property located in the Northwest Territories, and the Thor property in British Columbia. Copper North trades on the TSX Venture Exchange under the symbol COL.