Mitsubishi and Copper Mountain Agree To Extended MOU



    
    Web Site: www.CuMtn.com
    TSX : CUM
    

    VANCOUVER, April 30 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or
the "Company") reports that the Company continues to advance the Copper
Mountain Project towards production with the assistance of Mitsubishi
Materials Corporation ("Mitsubishi"). Discussions between Mitsubishi and the
Company continue toward finalizing agreements and arranging project financing.
    Mitsubishi and the Company have agreed to extend the MOU up to the end of
July 2009 to provide the necessary time for the parties to finalize the
necessary agreements as outlined in the MOU and prepare to arrange project
financing. Improvements to the project with the increased resource resulting
from the successfull 2008 drill program, is expected to offset financing
hurdles in the current adverse economic climate. Mitsubishi has reconfirmed
its support for the project by extending the $28.75 million line of credit to
November 30, 2009.
    Site activities continue to be funded with the $28.75 million line of
credit provided by Mitsubishi. To date, the Company has drawn approximately
75% 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 and below budget. The office and
warehouse complex is now fully functional with power, heat, water, telephones,
internet, and sewerage. The Company currently has approximately 16 employees
currently engaged at the site on construction activities. 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.

    About Copper Mountain Mining Corporation:

    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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