Northisle Copper and Gold Inc. Closes $200,515 Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2012) - NorthIsle Copper and Gold Inc. (TSX VENTURE:NCX) ("Northisle") announces the closing of a $200,515 private placement (originally announced at $200,000 on September 24, 2012), consisting of the sale of 1,179,500 flow-through shares at a price of $0.17 per share. All of the shares issued pursuant to this private placement are subject to a hold period until February 13, 2013.

About Northisle

Northisle is a Vancouver-based junior resource company committed to the exploration and development of the North Island Project on Northern Vancouver Island. The North Island Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and five other partially explored copper-gold porphyry occurrences.

For more information on Northisle and the Hushamu Deposit please visit Northisle's website at www.Northisle.ca.

On behalf of Northisle Copper and Gold Inc.

John McClintock, President, CEO and Director

This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.