Copper North Completes 2012 Feasibility Study Update for Carmacks

Copper North Completes 2012 Feasibility Study Update for Carmacks PR Newswire VANCOUVER, British Columbia, November 1, 2012 VANCOUVER, British Columbia, November 1, 2012 /PRNewswire/ -- Copper North Mining Corp. ("Copper North" or "the Company") (TSX.V: COL) is pleased to announce results from its National Instrument 43-101 ("NI 43-101") feasibility study update ("the Feasibility Study") for the wholly-owned Carmacks Copper Project ("Carmacks"), located in the Yukon Territory, Canada. The Feasibility Study concludes that development of Carmacks can be achieved with an after-tax internal rate of return ("IRR") of 15.6%, based on 100% equity financing. The project has an after-tax, net present value ("NPV") of $55.0 million using an 8% discount rate, the U.S Securities and Exchange Commission ("SEC") three year historical copper price of US$3.63/lb, and an exchange rate of US$1: C$1. President and Chief Executive Officer, Dr. Sally Eyre stated "despite significant cost increases across the mining sector, coupled with a stronger Canadian dollar, the 2012 Feasibility Study demonstrates that Carmacks remains economically viable at current copper prices. The completion of the study is another important step towards de-risking the project. However, to further improve project economics, the Company is considering a brownfields exploration program that would focus on developing the known copper oxide resource potential at Carmacks".