Vancouver, B.C. Northisle Copper and Gold Inc. (“Northisle“) announces a private placement of up to $1,000,000, to consist of the sale of up to 5,882,000 units at a price of $0.17 per unit, 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 one additional common share at a price of $0.25 for a period of two years from closing.
The proceeds from this private placement, which is subject to regulatory acceptance, will be used for continued exploration of Northisle’s North Island Project on Vancouver Island and for general corporate purposes. Closing is expected to occur by September 7, 2012.
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 atwww.Northisle.ca.
On behalf of Northisle Copper and Gold Inc.
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 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 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.