Concopper Enterprises Inc.

Mirado Nickel Mines Limited

Brenbar Mines Limited

November 15, 2010 11:47 ET

Concopper Enterprises Inc., Mirado Nickel Mines Limited, Brenbar Mines Limited: Amalgamation

TORONTO, ONTARIO--(Marketwire - Nov. 15, 2010) - CONCOPPER ENTERPRISES INC.: ("Concopper"), MIRADO NICKEL MINES LIMITED ("Mirado") and BRENBAR MINES LIMITED ("Brenbar") (collectively referred to as the "Amalgamating Corporations") are pleased to announce that their respective boards of directors have approved in principle a proposed amalgamation (the "Amalgamation") among such Amalgamating Corporations.

The proposed Amalgamation is subject to the approval of the shareholders of each Amalgamating Corporation at a special meeting of each Amalgamating Corporation (each a "Special Meeting") to be held on November 30, 2010 in Toronto. Detailed management information circulars in respect of the Special Meetings were mailed to the shareholders of each Amalgamating Corporation on or about November 3, 2010 giving formal notices of the Special Meetings.

It is anticipated that the resulting amalgamated corporation ("Amalco") will benefit from, amongst other things, the synergies resulting from a larger corporation with greater and more varied assets, a larger equity and income base and enhanced opportunities, which will help facilitate the financing of future growth and expansion. The proposed Amalgamation will permit operation of the businesses of the Amalgamating Corporations on a more expeditious and cost effective basis. The proposed name of the amalgamated entity is Micon Gold Inc.

Because each of the Amalgamating Corporations are directly or indirectly controlled by Jeffrey J. Becker, the proposed Amalgamation is considered a "business combination" and subject to the provisions of Multilateral Instrument 61-101. Accordingly, the proposed Amalgamation will require approval by a "majority of the minority" shareholders for each of the Amalgamating Corporations as well as the statutory approval of at least two-thirds of the shareholders voting on the matter.

In reviewing the proposed Amalgamation, the board of directors of each of the Amalgamating Corporations considered the merits and fairness of the transaction to their respective shareholders. As a component of such review, the Amalgamating Corporations, as a collective group, retained a qualified independent valuator to provide a formal valuation for each of the Amalgamating Corporations.

Based on the formal valuation, the Amalgamating Corporations determined the applicable share exchange ratios for which the existing shares of the respective Amalgamating Corporations will be exchanged for Amalco Class A and Class B shares. It is contemplated that the proposed Amalgamation will result in the issuance of approximately an aggregate of 5,000,000 Amalco shares to former shareholders of the Amalgamating Corporations based on the following share exchange ratios: (i) in the case of Concopper, for each one (1) Class A share of Concopper a shareholder shall receive 1.0200 fully paid and non-assessable Amalco Class A shares and for each one (1) Class B share a shareholder shall receive 0.3116 fully paid and non-assessable Amalco Class B shares; (ii) in the case of Mirado, for each one (1) common share of Mirado a shareholder shall receive 0.4185 fully paid and non-assessable Class A shares in Amalco; (iii) in the case of Brenbar, for one (1) common share of Brenbar a shareholder shall receive 0.0363 fully paid and non-assessable Class A shares of Amalco;

Additionally, a general by-law and a stock option plan for Amalco will be presented to the Special Meetings. A majority of votes cast on these matters is required in order for those matters to be approved.

In order for the proposed Amalgamation to become effective, all applicable corporate, shareholder and regulatory approvals must first be obtained. There can be no assurance that the Amalgamation will be completed as proposed or at all. Investors are cautioned that, except as disclosed in publicly disseminated press releases of the Amalgamating Corporations and management information circulars to be prepared in connection with the proposed Amalgamation, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. The Amalgamating Corporations are all junior resource mining companies and their shares are not listed for trading on any stock exchange.

The Information Circular contains detailed information regarding the Amalgamation and the other matters to be considered at the Meeting. A copy of the Information Circular is available under the corporate profile of Concopper and Mirado on SEDAR at www.sedar.com.

Forward-Looking Statements

This release contains forward-looking statements which reflect the current views of the respective management of the Amalgamating Corporations as to future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to competitive market conditions, financial data, and other risks or uncertainties detailed from time to time in the filings made by the Amalgamating Corporations with securities regulatory authorities. These forward-looking statements represent the judgment of the respective board of directors of the Amalgamating Corporations as of the date of this release and any changes in the assumptions or external factors could produce significantly different results.

Contact Information