Copper North and Little Salmon Carmacks First Nation Sign Letter of Intent
VANCOUVER, Dec. 17, 2012 /PRNewswire/ – Copper North Mining Corp. (“Copper
North” or “the Company”) (TSX.V: COL) is pleased to announce it has
signed a Letter of Intent (“LOI”) with the Little Salmon Carmacks First
Nation (“LSCFN”) with respect to consultation on the Carmacks Copper
Project (“the Project”) in Yukon, Canada.
The Project is located in the LSCFN Traditional Territory and the
consultation will allow the First Nation to fully understand the
Project and how it will interact with their traditional land uses.
President and Chief Executive Officer, Dr. Sally Eyre stated “I am
delighted that together, the Company and LSCFN have been able to
establish a framework to continue consultation regarding the Project.
Copper North and LSCFN each support and promote a co-operative and
mutually respectful relationship concerning the environmental
assessment process.” Eyre further stated, “following technical review
of the Project, and providing that the concerns of the LSCFN have been
reasonably resolved by the Company, we will work towards executing an
Impact and Benefits Agreement (“IBA”)”.
Chief Eric Fairclough of LSCFN added “we are encouraged by the Company’s
willingness to ensure that our citizens know and understand the merits
of this proposed project, and this LOI signifies our mutual commitment
to informed, respectful decision making”.
-- Establishes the framework for consultation with LSCFN prior to submission of the Project Proposal to YESAB for the Executive Committee Screening Assessment and throughout the Quartz Mining Licence and Water Use License regulatory processes; -- Commits Copper North to provide financial support to LSCFN so they may retain independent technical advice with respect to the assessment of the project and LSCFN may actively and productively participate in the assessment and regulatory processes; -- Defines the communications protocol and relationship between Copper North and LSCFN, ensuring regular communication and full exchange of technical information related to the Project; and, -- Provides for the negotiation of an IBA, providing that the concerns of LSCFN related to the Project have been reasonably resolved by Copper North.
About Copper North
Copper North is a Canadian mineral exploration and development company.
Copper North’s assets include the Carmacks Copper Project located in
the Yukon, and the high-grade, stratiform-copper Redstone Property,
located in the Northwest Territories. Copper North trades on the TSX
Venture Exchange under the symbol COL.
Please visit www.coppernorthmining.com.
On behalf of the Board of Directors:
“Sally L. Eyre”
Dr. Sally L. Eyre
President, CEO and Director
This news release includes certain forward-looking information or
forward-looking statements (collectively “Forward-Looking Information”)
for the purposes of applicable securities laws. Forward-Looking
Information includes, but is not limited to, statements with respect to
proposed exploration and development activities and their timing and
potential mineralization; possible events, conditions or performance
that are based on assumptions about future courses of action; the
timing and costs of future exploration and development activities on
Carmacks; permitting and infrastructure time lines and requirements;
requirements for additional water rights; and operating cost
estimates. In certain cases, Forward-Looking Information can be
identified by the use of words and phrases such as “plans”, “expects”
or “does not expect”, “scheduled”, “estimates”, anticipates”,
“potential”, “recommends” or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”,
“would” or “will be taken”, “occur” or “be achieved”. These statements
address future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements to differ materially from
those anticipated in such statements. Important factors that could
cause actual results to differ materially from the Company’s
expectations include, among others, the timing and success of future
exploration and development activities, exploration and development
risks, market prices, exploitation and exploration results,
availability of capital and financing, general economic, market or
business conditions, uninsured risks, regulatory changes, defects in
title, availability of personnel, materials and equipment, timeliness
of government approvals, unanticipated environmental impacts on
operations and other exploration risks detailed herein and from time to
time in the filings made by the Company with securities regulators. In
making the forward-looking statements, the Company has applied several
material assumptions including, but not limited to, the assumptions
that the proposed exploration and development of Carmacks will proceed
as planned, market fundamentals will result in sustained metals and
mineral prices, current exploration and other objectives concerning
Carmacks can be achieved and that the Company’s other corporate
activities will proceed as expected and any additional financing needed
will be available on reasonable terms. Although the Company has
attempted to identify important factors that could affect the Company
and may cause actual actions, events or results to differ materially
from those described herein, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that Forward-Looking Information
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on Forward-Looking
Information. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether
as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Copper North Mining Corp.