VANCOUVER,
Aug. 8, 2012 /PRNewswire/ - Copper
North Mining Corp. ("Copper North" or the "Company") (TSX.V: COL)
announces the appointment of Messrs. Bill
LeClair and Bill Koutsouras
to the Company's Board of Directors (the "Board") and the
resignation of Dr. Robert
Gayton.
Mr. LeClair is a Fellow Chartered Accountant with
the Institute of Chartered Accountants of British Columbia and the former Chief
Executive Officer of Crew Gold Corporation ("Crew Gold"). Crew Gold
was a London-based mining company
with global operations, which was subject to a takeover bid between
Endeavour Financial Corporation ("Endeavour Financial") and the Severstal Group
in 2010. During Mr. LeClair's tenure as Chief Executive Officer,
Crew Gold produced approximately 250,000 ounces of gold per year
from its LEFA mine in Guinea,
West Africa.
Mr. Koutsouras is a member of the Canadian
Institute of Chartered Accountants, a Chartered Financial Analyst,
and the former Executive Vice President and Chief Financial Officer
of Endeavour Financial. Endeavour Financial is a financial advisory
firm specialising in the natural resource sector. During Mr.
Koutsouras' tenure, Endeavour
Financial was involved in the restructuring, financing and
transformation of numerous companies, including but not limited to;
Wheaton River Minerals (acquired by Goldcorp), Bema Gold
Corporation (acquired by Kinross
Gold), and Pacific Rubiales Energy.
Mr. Dale Corman,
Chairman of Copper North stated "I am delighted to announce the
appointment of Mr. LeClair and Mr. Koutsouras to the Copper North
board. Mr. LeClair and Mr. Koutsouras each have extensive
experience in the financial management, operation and strategic
direction of large public resource companies. In recent years, both
individuals have been involved in successful mining transactions".
Mr. Corman further stated "I would like to express my gratitude to
Dr. Robert Gayton for his dedication
to the Board during the Company's initial growth phase following
last year's Plan of Arrangement". Dr. Gayton will remain an advisor
to the Company.
The Board of Directors of Copper North has
authorized the issuance of stock options to Messrs. LeClair and
Koutsouras to purchase 200,000 common shares each, subject to the
terms of the Company's stock option plan. The stock options will
vest over a two year period: with one third vesting on the date of
grant, one-third on the first anniversary date and one-third on the
second anniversary date. The stock options have a five year term
and allow the holder to purchase one common share of the Company at
a price of $0.10 per share until
August 7, 2017.
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:
"Dale Corman"
Mr. Dale Corman
Chairman of the Board
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.
