Copper North Completes First Part of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 9, 2015) -

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 that it has completed the first portion of the non-brokered private placement (the "Private Placement") announced on May 14, 2015.

The Company issued 7.4 million units (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of $444,000. Each Unit consists of one common share of the Company (a "Share") and one half of one non-transferable warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share at a price of $0.09 until June 8, 2017. The Company issued 60,000 Shares as finders' fees ("Finders' Shares") related to the Units.

The Company issued 833,334 flow-through shares at a price of $0.06 per flow-through share for aggregate gross proceeds of $50,000. The Company issued 50,000 Finders' Shares related to the flow-through shares.

All Shares, flow-through shares, Finders' Shares, and any Shares issued upon exercise of Warrants are subject to a hold period and as such may not be traded until October 9, 2015.

The Company intends to use the proceeds from the flow-through portion of the Private Placement for exploration at the Carmacks Project and/or the Thor property. Copper North intends to use the proceeds from the Unit portion of the Private Placement to progress the Carmacks Project feasibility studies, and for working capital and general corporate purposes.

Harlan Meade, President and CEO of the Company of the Company, purchased 385,000 Units. His participation in the Private Placement constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 ("MI 61-101"). This transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to, nor the consideration paid by, Dr. Meade exceeds 25% of the Company's market capitalization.

Copper North expects to complete a second tranche of the Private Placement later this month that will include both flow-through shares and Units. The Private Placement is subject to TSX Venture Exchange approval and all securities will be subject to a four month hold period.

The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the participation therein by related parties of the Company were not settled until shortly prior to closing of the Private Placement and the Company wished to close on an expedited basis for sound business reasons.

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.

This news release includes certain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the completion of any part of the proposed Private Placement; the price of securities issued pursuant to the Private Placement; use of proceeds from the Private Placement; and proposed exploration and development activities and their timing. 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 timeliness and success of regulatory approvals, 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, 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 Private Placement will receive regulatory approval and will proceed as planned, the proposed exploration and development of the mineral projects will proceed as planned, market fundamentals will result in sustained metals and mineral prices, and any additional financing needed will be available on reasonable terms. 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.