Copper North Completes 1st Portion of Private Placements

VANCOUVER, BC--(Marketwired - June 30, 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) announces the completion of portions of the non-brokered private placements announced on May 16, 2016, as amended June 2, 2016 and June 23, 2016 (the "Private Placements").

The Company issued 1,726,666 units (the "Units") at a price of $0.15 per Unit for aggregate gross proceeds of $259,000. Each Unit consists of one common share of the Company (a "Share") and one non-transferable warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company (a "Share") at a price of $0.25 until June 30, 2018.

The Company paid finders' fees of $9,975 and issued 88,666 warrants (the "Finder's Warrants") in connection with this portion of the Private Placements. Each Finders' Warrant entitles the holder to purchase one Share at a price of $0.25 until June 30, 2018.

Copper North also issued 980,000 flow-through shares (the "FT Shares") at a price of $0.17 per FT Share for aggregate gross proceeds of $166,600. In connection with the flow-through portion of the Private Placements, the Company paid finders' fees of $12,495, issued 98,000 Finders' Warrants. Each Finders' Warrant entitles the holder to purchase one Share at a price of $0.25 until June 30, 2018.

All Shares, including any Shares issued upon exercise of Warrants or Finders' Warrants are subject to a hold period and as such may not be traded until October 31, 2016.

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.

Copper North expects to complete the final portions of the Private Placements in the near future. The Private Placements are subject to TSX Venture Exchange approval and all securities will be subject to a four month hold period.

In addition, the Company announces that it issued 100,000 Shares to Electrum Resource Corporation on June 27, 2016 pursuant to the terms of the Thor property acquisition agreement dated June 27, 2014. These Shares are subject to a hold period and as such may not be traded until October 28, 2016.