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Press release from PR Newswire

COPPER MOUNTAIN Mine holds official opening ceremony & releases new video update

Friday, August 26, 2011

COPPER MOUNTAIN Mine holds official opening ceremony & releases new video update17:30 EDT Friday, August 26, 2011 To view the Social Media Release, click here: http://smr.newswire.ca/en/copper-mountain-mining-corporation/copper-mountain-mine-holds-official-opening-ceremony VANCOUVER, Aug. 26, 2011 /PRNewswire/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") is pleased to announce that the Official Opening Ceremony of the Copper Mountain Mine was held on Thursday August 18th  at the mine site. The Copper Mountain Mine hosted about 1700 people from around the province on a full day of mine tours, music and dignitary celebrations.  People were able to view the open pit mine in action via a specially built lookout area that accommodated the highway buses, then the tour participants were treated to a rare look inside the 35,000 tpd concentrator building that was in operation.  Tour participants finished the day by returning to the large 5 bay truck shop that was converted into a convention centre for the day where they were entertained with music and a lunch of barbequed hotdogs and hamburgers and then listened to the opening ceremonies.  Dignitaries included the Hon. Rich Coleman, Minister of Energy & Mines, Hon. Bill Barisoff Speaker of the Legislative Assembly, Randy Maclean Princeton Mayor, as well as senior executives of Mitsubishi Material Corporation that travelled from Japan and the Company's senior executives. It was noted during the ceremonies that Copper Mountain is the first base metal mine to commence operations in British Columbia since 1998 and that the mine will directly employ 270 people from the town of Princeton BC and surrounding areas and will have significant spinoff benefits for the entire province. Notable excerpts from speeches during the official opening ceremony are presented below: CEO & President of Copper Mountain Mining Corporation, Jim O'Rourke "All of us at Copper Mountain are proud to be a part of this momentous occasion.  A new mine in BC has been long overdue, and with the help of Mitsubishi Materials Corporation and our employees, suppliers and contractors, we have brought this mine from concept to reality.  At full production we will be producing over 105 million pounds of copper, 27,000 ounces of gold, and 350,000 ounces of silver per year. We want to assure our stakeholders that we are off to a good start, but this is only the beginning for the company. We look forward to a prosperous future as the company grows on the momentum of this positive start." Princeton Mayor, Randy McLean "The official opening of Copper Mountain Mine marks a great day in the history of Princeton," said McLean. "The economic effect of a project of this magnitude on a small community is remarkable; every facet of our way of life has undergone a boost in morale. We are eternally grateful to Copper Mountain Mining's Jim O'Rourke and the provincial ministers who worked so hard to bring this project into production." Minister of Energy and Mines, Honarable Rich Coleman "Congratulations to everyone involved with Copper Mountain and to the community of Princeton. The provincial governmnet has worked hard to encourage investment and development in the mining sector. The Copper Mountain Mine will benefit both the regional economy and the entire province". Update on Operations: Mining is proceeding well at rates in the 140,000 tonne per day range. Some teething delays have been experienced but programs are in progress to optimize the mining operation. The concentrator is operating at  rates of about 90 percent of design capacity. Tonnage through the SAG mill has been the limiting factor. SAG mill perfomance has been disappointing and numerous changes have been necessary to approach design capacity. Additional improvements are scheduled at month end which are expected to allow the SAG mill throughput to reach 100 percent of design. Capacity of the ball mill circuit, flotation and dewatering circuits meet or exceed expectations. Concentrate trucks have been transporting concentrate to the storage dock daily, with the first cargo ship scheduled to arrive at the port before the end of the month of August. However due to port conjestion in Vancouver it may not be loaded until September 2 or 3rd. The first 12,000 tonne ocean shipment will be sent to Mitsubishi Materials Corporation's Onahama smelter in Japan for treatment and refinement. The company will recognize revenue upon loading of the cargo in the month of September.  A new road has been constructed to minimize distance and bypass travel through Princeton, connecting the mine with highway #3, saving a total of 40km in trip distance.  The Company is now working with government to get the transportation approval required to start utilizing this new road for concentrate hauling. New video update: Today the company issued a Media Release through Canada News Wire, which includes an updated video on the Copper Mountain Mine. TO SEE VIDEO UPDATE ON THE COPPER MOUNTAIN MINE CLICK HERE About Copper Mountain Mining Corporation: Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Stock Exchange under the symbol "CUM". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Mine. The 18,000 acre mine site is located 20 km south of the town of Princeton in southern British Columbia. The Copper Mountain Mine has a current resource of approximately 5 billion pounds of copper and recently commenced production. Additional information is available on the Company's web page at www.CuMtn.com. On behalf of the Board of COPPER MOUNTAIN MINING CORPORATION "Jim O'Rourke" Jim O'Rourke Chief Executive Officer Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement. SOURCE Copper Mountain Mining CorporationFor further information: <p> </p> <p> <b>Galina Meleger </b><br/> Corporate Communications<br/> 604 682 2992 ext. 224<br/> <a href="mailto:Galina@CuMtn.com">Galina@CuMtn.com</a><br/> <a href="http://www.CuMtn.com">www.CuMtn.com</a> </p> <p> <b>Rod Shier </b><br/> Chief Financial Officer<br/> 604-682-2992 ext.222<br/> <a href="mailto:Rod@CuMtn.com">Rod@CuMtn.com</a><br/> <a href="http://www.CuMtn.com">www.CuMtn.com</a> </p>