VANCOUVER, June 24 /CNW/ - Copper Mesa Mining Corporation ("Copper Mesa"
or the "Company") (TSX:CUX) today announced that Nortec Ventures Corporation
("Nortec") elected not to make to Copper Mesa an agreed upon installment
payment, part of a stream of such payments which would have totaled up to $5.5
million (U.S.), in connection with Nortec's acquisition of a subsidiary of the
Company that controls the majority of its Ecuadorian assets. This payment of
$70,000 (U.S.), originally due June 16, 2009, had already been extended by the
Company to June 23, 2009. Nortec reportedly decided to withhold the payment
due to a purported concern in title to one of the subsidiary's properties.
The Company intends to continue discussions with Nortec to resolve this
matter. In the interim, Copper Mesa has commenced preliminary discussions with
other parties that had previously expressed an interest in the Company's
About Copper Mesa Mining Corporation
Copper Mesa is a mineral exploration and development company focused on
advancing into production its two key past-producing copper properties, the
Zonia and Emerald Isle mines in Arizona, USA. www.coppermesacorp.com
This press release may contain forward-looking statements that are based
on Copper Mesa's expectations, estimates and projections regarding its
business and the economic environment in which it operates. These statements
are not guarantees of future performance and involve risks and uncertainties
that are difficult to control or predict. Therefore, actual outcomes and
results may differ materially from those expressed in these forward-looking
statements and readers should not place undue reliance on such statements.
Statements speak only as of the date on which they are made, and the Company
undertakes no obligation to update them publicly to reflect new information or
the occurrence of future events or circumstances, unless otherwise required to
do so by law.
For further information:
For further information: Rana S. Gill, Chief Financial Officer,
1-866-907-6047, email@example.com; or Joanna Longo, Investor Relations,