2008 Drilling Significantly Increased Resource and Produces Improved Mine Plan and Agreements With Mitsubishi Materials Corporation Progressing



    
    Web Site: www.CuMtn.com
    TSX : CUM
    

    VANCOUVER, April 16 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or
the "Company") is pleased to report the Company continues to advance the
Copper Mountain Project towards production by mid 2011. Discussions with
Mitsubishi Materials Corporation ("Mitsubishi") continue, long lead equipment
items have been ordered and site work is progressing as planned and under
budget.
    Site activities continue to be funded with the $28.75 million line of
credit provided by Mitsubishi. To date, the Company has drawn approximately
50% of the line of credit to fund long lead equipment items, and support
ongoing project activities to maintain the target production schedule for mid
2011. Detailed engineering and site geotechnical excavations for the
concentrator are progressing on schedule. The office and warehouse complex is
now fully functional with: power, heat, water, telephones, internet, and
sewerage. The Company and Merit Consultants International Inc. (Construction
Manager) have completed refinements to the development program and have
adjusted the construction schedule to take advantage of seasonal activities
and the cost benefits of the current economic downturn. Prices for
construction materials are currently more favourable than originally
anticipated in the Feasibility Study. It is estimated that the project will
provide employment for 200 construction workers at its peak and the ongoing
operations will create 257 full time positions.
    The Company reports that the 2008 drilling has been very successful in
increasing the resource of the property to approximately 5 billion pounds of
copper based on the updated resource prepared by Gary Giroux of Giroux
Consultants Ltd. of Vancouver British Columbia, an independent qualified
person as defined by Canada's National Instrument 43-101 and includes all of
the Company's drilling up to the end of 2008. A comparison of the updated
resource is provided in the table below:

    
    Measured Plus Indicated Resources

           ------------------------------------------------------------------
                  2008 Feasibility Study                April 2009
                        Resource                     Updated Resource
           ------------------------------------------------------------------
                  Tons     Grade    Copper       Tons      Grade    Copper
    Cutoff        SDT       Cu        Lbs.       SDT        Cu        Lbs.
    (Cu %)      (000's)     (%)     (000's)     (000's)     (%)     (000's)
    -------------------------------------------------------------------------
    0.15         365,920   0.304   2,224,800     518,600   0.311   3,229,102
    -------------------------------------------------------------------------
    0.20         260,220   0.357   1,858,000     359,560   0.373   2,681,634
    -------------------------------------------------------------------------
    0.25         185,960   0.411   1,528,600     256,610   0.433   2,224,360
    -------------------------------------------------------------------------
    0.30         137,910   0.459   1,266,000     189,180   0.490   1,855,702
    -------------------------------------------------------------------------

           ----------------------------------
                      Percent Increase
           ----------------------------------
                  Tons     Grade    Copper
    Cutoff        SDT       Cu        Lbs.
    (Cu %)      (000's)     (%)     (000's)
    -----------------------------------------
    0.15           41.7%    2.3%       45.1%
    -----------------------------------------
    0.20           38.2%    4.5%       44.3%
    -----------------------------------------
    0.25           38.0%    5.4%       45.5%
    -----------------------------------------
    0.30           37.2%    6.8%       46.6%
    -----------------------------------------
    

    Total tonnes to the mill under the updated production plan have increased
by 20% above the feasibility study results and the mine life has been extended
by three years. Average head grade in the first 10 years of operation has been
increased 7.69% to 0.42% Copper, which resulted in payable copper increasing
by 407 million pounds or 37% over the previously reported total in the
feasibility study. Likewise, payable gold and silver were also up by 109,461
oz gold and 876,709 oz silver respectively over the life of the mine. This all
combined has had a very positive effect on the valuation of the project.
    The following updated mine schedule and production plan was prepared
based on the updated resource prepared by Giroux Consultants Ltd. A comparison
of the Company's feasibility study to the updated mine schedule and production
plan is provided in the table below:

    
      Comparison Of Feasibility Study with 2009 Updated Production Plan

                              As At April 2009

                             Feasibility  April 2009                       %
    Description                    Study       Study    Increase    Increase
    -------------------------------------------------------------------------

    Tonnes Milled (000's)        175,818     211,184      35,366      20.12%
    Head Grade (LOM)               0.33%       0.36%       0.03%       9.39%

    Payable Copper (000's
     Lbs)                      1,080,030   1,487,836     407,806      37.76%

    Payable Gold (Oz)            323,830     433,291     109,461      33.80%

    Payable Silver (Oz)        3,205,943   4,082,652     876,709      27.35%
    -------------------------------------------------------------------------
    

    Negotiations of the agreements with Mitsubishi, including a Shareholders'
Agreement, Management Agreement, Concentrate Sales and Purchase Agreement and
Share Subscription Agreement, whereby Mitsubishi may purchase a 25% interest
in the Copper Mountain Project, are now nearing completion, but which remain
subject to the ongoing discussion and the approval by both company's board of
directors. Accordingly, the Company and Mitsubishi have extended the MOU
signed last year to April 30, 2009 to provide the necessary time to finalize
the agreements and a possible extension to the MOU

    Quality Assurance

    The Company employs a system of quality control for drill results which
includes the use of blanks, certified reference material (standards) and check
assaying. Core is logged on site and split with a diamond saw. Samples are
shipped to Pioneer Laboratories for geochemical analysis of copper with all
values of greater than 1000 ppm copper being re-analysed by assay methods for
copper, gold and silver. The drilling program was being supervised by Peter
Holbek, M.Sc., P.Geo., a qualified person as defined by National Policy
Instrument 43-101.

    About Copper Mountain Mining Corp.:

    CMMC is a BC 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". The Company currently owns 100% of Copper Mountain Project which
holds the mineral claims and crown grants over the 18,000 acre mine site.
CMMC's goal is to develop the Copper Mountain Project as a mid tier copper and
precious metal mine to produce approximately 100 million pounds of copper per
year by mid 2011. 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.





For further information:

For further information: Don Graham: Director, Investor Relations, (604)
682-2992 ext. 224, Email: don@CuMtn.com or B&D Capital (604) 685-6465,
Website: www.CuMtn.com


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