Granite Creek Copper Ltd. and Copper North Mining Corp. announced that, further to their news release dated August 31, 2020, Granite Creek has completed its acquisition of Copper North. The transaction combines Copper North's PEA-stage Carmacks Copper-Gold Project with Granite Creek's Stu Copper-Gold Project, creating a significant new copper-focused exploration and development company with an existing NI 43-101 mineral resource estimate and exceptional expansion potential. Recognizing the district scale of the newly consolidated project, Granite Creek has renamed the Stu Project as Carmacks North and will reference the projects as one in all future communication. The Company is actively developing plans to rapidly grow resources through drilling on high priority targets at Carmacks North as well as advancing the underlying sulfide potential at Carmacks. The Company expects to be able to add to the 43-101 resources through exploration of multiple targets it has developed from the substantial project database. As a result of completion of the arrangement set forth above, Granite Creek acquired ownership and control of 100% of the outstanding Copper North Shares. In connection therewith, Granite Creek will file an early warning report pursuant to National Instrument 62-103 ­ The Early Warning System and Related Take-Over Bid and Insider Reporting Issues containing additional information respecting the foregoing matters. A copy of such report may be obtained from Copper North's SEDAR profile at www.sedar.com or by contacting Granite Creek at the contact particulars set forth herein. Granite Creek owned 26,146,233 Copper North Shares prior to completion of the transaction, representing approximately 30% of the outstanding Copper North Shares. It is expected that the Copper North Shares will be de- listed from the TSX Venture Exchange and that Copper North will make an application to cease to be a reporting issuer in the applicable jurisdictions. The Minto Copper Belt is a 180-kilometer-long by 60-kilometer-wide belt of intrusion-related, high-grade Cu-Au-Ag deposits within the Dawson Range in the central Yukon Territory of Canada. The District is host to Pembridge's operating
Minto Mine and Granite Creek's Carmacks and Carmacks North Project. At Carmacks copper mineralization is contained in foliated to gneissic material, generally similar to the Minto mine.