Copper Mountain Mine Reports Production Results

VANCOUVER – Copper Mountain Mining Corporation reported production results for the second quarter of 2015 from the Copper Mountain mine located in southern British Columbia.

In the second quarter of 2015, the mine produced 19.5 million pounds of copper, 7,800 ounces of gold, and 71,100 ounces of silver. This brings the first half 2015 total production to 37.8 million pounds of copper, 15,600 ounces of gold, and 151,400 ounces of silver. In the second quarter the mill averaged 91% operating time and processed a total of 3.2 million tonnes of ore (39,240 tpod) at an average grade of 0.331% copper. This brings the first half 2015 mill operating time to 92% at an average mill grade of 0.338% copper.

Mining activities continued in the Pit 2 area which was entirely focused on the southwest end of the Pit. During the quarter a total of 14.2 million tonnes of material was mined, including 5.7 million tonnes of ore and 8.5 million tonnes of waste, realizing a strip ratio of 1.48. The mine moved an average of approximately 168,000 tonnes of material per day during the quarter.

During the second quarter of 2015 the mine shipped 36,208 wmt of concentrate containing approximately 17.5 million pounds of copper, 6,100 ounces of gold, and 57,300 ounces of silver generating an estimated US $55.9 million in gross revenue.

Jim O’Rourke, President and CEO of Copper Mountain, remarked "We are very pleased with mill improvements that have provided a 10% increase in the mill throughput rate to the 39,240 tpod level during the second quarter as compared to 35,650 tpod during the first quarter of 2015. Recent modifications have provided further gains and we are confident these gains are sustainable."

The Company’s goal for 2015 is to continue to optimize performance of the Copper Mountain Mine, while at the same time continue to focus on cost reductions and maximize copper production. The majority of ore continues from Pit 2 in 2015. The mine continues to plan on meeting its 2015 copper production forecast of 80 million pounds.