Northisle Copper and GOLD Inc. Amends Private Placements
1
Northisle Copper and Gold Inc. 15th Floor – 1040 West Georgia Street,, Vancouver, B.C. V6E 4H1 www.northisle.ca [email protected] Tel: 606-638-2515
NEWS RELEASE
April 7, 2017 TSX Venture Exchange symbol: NCX
NORTHISLE COPPER AND GOLD INC. AMENDS PRIVATE PLACEMENTS
Vancouver, B.C. – Northisle Copper and Gold Inc. (“Northisle” or the “Company”) announces, further to
its News Release of April 5, 2017 , that it will now be raising up to $1,505,000 by way of the following
non-brokered private placements, subject to TSX Venture Exchange acceptance:
(a) up to $1,005,000 by way of a unit private placement at a price of $0. 15 per unit, with
each unit to consist of one common share and one -half (1/2) of a share purchase
warrant, with each whole warrant to entitle the holder to purchase an additional
common share at a pri ce of $0. 25 for a period of 2 years from closing; and
(b) up to $500,000 by way of a flow-through share private placement at a price of $0. 20
per flow-through share.
The private placements are not subject to any minimum subscriptions, and certain insiders of the
Company have agreed to participate, with full particulars of such participation to be included in the
news release announcing the closing of these private placements. The proceeds will be used by
Northisle to finance a drilling program on i ts deep Red Dog and Hushamu extension targets, (forming
part of its North Island Copper -Gold Project on Vancouver Island ), engineering studies and for
general working capital.
The securities issued pursuant to these private placements will be subject to a hold period expiring
four months and one day from the date of issuance.
About Northisle
The North Island Copper -Gold Project is situated approximately 15 -40 kilometres southwest of Port
Hardy and contains the Hushamu and Red Dog deposits and five other partially explored copper -gold
porphyry occurrences. The project is 100% owned by Northisle.
The Hushamu Resource
The Company has a current resource estimate of the Hushamu Deposit which has been filed on SEDAR.
Resource Grade Contained Metal
Tonnes
(x1000)
Copper
%
Gold
g/t
Mo
%
Re
ppm
Cu Eq
%
Copper
B lb
Gold
M oz
Mo
M lb
Re
Kg x
1000
Indicated 304,000 0.21 0.29 .010 0.55 0.45 1.4 2.8 65.7 167.4
Inferred 205,600 0.18 0.26 .008 0.38 0.39 0.8 1.7 34.9 78.1
** Copper equivalent calculated using US$2.50/lb Cu, US$1100/oz Au and US$14.00/lb Mo and is not adjusted for mining and metallu rgical
recoveries as these remain uncertain. The formula used is as follows: CuEQ = (Cu% x 22.0462 x 2.50) + (Au g/t x 1100.00/ 31. 1035) + (Mo% x 22.0462 x 14.00 ).
Rhenium values have not been used in the cut-off grade or Cu Equivalent calculations
2
Northisle Copper and Gold Inc. 15th Floor – 1040 West Georgia Street,, Vancouver, B.C. V6E 4H1 www.northisle.ca [email protected] Tel: 606-638-2515
The Red Dog Resource
The Red Dog Resource is located 8km northwest of the Hushamu Deposit and hosts a NI 43 -101
Indicated R esource of 23.6 million tonnes grading 0.32% copper, 0.46gpt gold and 0.007%
molybdenum.
For more information on Northisle and the Hushamu and Red Dog deposits please visit the Company’s
website at www.Northisle.ca
John McClintock, P. Eng is the Qualified Person responsible for the technical content of this release.
On behalf of Northisle Copper and Gold Inc.
“John McClintock”
John McClintock
President, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange)
accepts responsibility for the adequacy or accuracy of this news release.
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 o r 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.