2008 drill program increases Copper Mountain Resources by 20% as project continues to move forward

    VANCOUVER, Feb. 26 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or
the "Company) announces that with the completion of the 63,000 m drill program
in 2008, the Copper Mountain Project resources have significantly increased
from the previously reported December 2007 National Instrument 43-101
resources estimate. Highlights of this new resource are:

    -   Measured and Indicated Resources:
        -  302.4 Million tons grading 0.37% Cu at 0.20% Cu cut-off.
        -  At a 0.20% cut-off, tonnage increased from the previous estimate
           by 16.2% or 42.2 million tons at a grade of 0.39% Cu providing an
           increase of 362 million pounds copper, or 20% of the contained
        -  At a 0.15% Cu cut-off, the increase is 69 million tons with
           454 million additional pounds of copper for a 20.4% increase in
           contained copper.

    -   Inferred Resources:
        -  207.8 Million tons grading 0.28% Cu at 0.20% Cu cut-off.
        -  Tonnage increased by 26.7% or 43.8 million tons at the 0.20% Cu
           cut-off, resulting in an increase of 204 million pounds of
           contained copper.

    -   Gold and silver grades are not available from the historical drill
        data but historical production records indicate that approximately
        12% of the concentrate value was from silver and gold credits. Data
        from the current exploration program, which has had gold and silver
        assays, indicates similar precious metal grades but at current metal
        prices the value of precious metals within the concentrate would be

    -   Contained copper in the M&I resource categories at the 0.15% cut-off
        is 2.7 billion lbs of copper with an additional 1.9 billion lbs of
        copper in the inferred category for a total of 4.6 billion pounds of
        copper. The total exploration cost of discovery for the additional
        copper is slightly above 1 cent/pound of copper.

    -   Deposit remains open in most directions, especially at depth, where
        current drilling has intersected higher grade material.

    The resource estimate incorporates data from over 4,400 historical drill
holes totalling approximately 400,000 metres, and 370 new drill holes,
totalling 107,000 metres from the 2007 and 2008 exploration programs. It is
anticipated that subsequent resource estimates will be completed in the future
as many of the mineralized areas are still open in most directions and a
number of geophysical targets still remain to be drill-tested.
    Mr. O'Rourke, President and CEO stated, "I am extremely pleased with the
success rate of our 2008 exploration program which was one of the largest
drill exploration programs in British Columbia. The increased tonnage and
grade in the resource should result in a longer mine life and increased copper
production from the operation, which should enhance the project economics"
    The resource estimated was prepared by Giroux Consultants Ltd. of
Vancouver British Columbia, an independent qualified person as defined by
Canada's National Instrument 43-101. Methods used in determining and reporting
the resources are consistent with CIM Best Practices Guidelines for the
estimation of mineral resources and mineral reserves. A summary of the
resource is in the table below:

        Measured Plus Indicated Resource             Inferred Resource
    Cut-off   Tonnage  Grade     Contained    Tonnage  Grade     Contained
    %Cu       (000's)           Copper (lbs)  (000's)           Copper (lbs)
    0.15      434,960   0.31   2,679,400,000  424,840   0.22   1,903,300,000
    0.20      302,410   0.37   2,219,700,000  207,820   0.28   1,155,500,000
    0.25      214,660   0.43   1,833,200,000  105,500   0.33     702,600,000
    0.30      158,730   0.48   1,527,000,000   57,080   0.39     440,700,000

    Historical drilling was validated by comparison to production records and
comparison to new drilling. All data was compiled into a single database but
seven domains were sub-divided on the basis of location and different
orientations of the structural controls as determined by geology and
experimental variography. All historical data was used during resource
estimation but historically mined out areas were then removed from the block
model. Block sizes used in the model were 25 by 25 feet by a 40 foot bench
height. Block grade interpolation was a combination of ordinary kriging for
lower grade, commonly disseminated mineralization, and indicator kriging for
higher grade vein-like mineralization. High grade assays were capped prior to
estimation based on a statistical review of the data. A majority of the
reported resources, particularly the measured and indicated categories occur
within or adjacent to the Feasibility design pit.

    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 is 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 that owns 100% of the Project located 15 km
south of the town of Princeton in southern British Columbia. The Company
recently completed an independent feasibility study that confirmed the
viability of restarting this past open pit copper and precious metal producer.
Development is based on the construction of a new 35,000 tonne per day
concentrator to produce approximately 100 million pounds of copper per year in
a copper concentrate with gold and silver credits by early 2011. The Company
entered a memorandum of understanding with Mitsubishi Materials Corporation to
cooperate in advancing the project. Definitive agreements with Mitsubishi
based on the terms of the MOU are currently being negotiated. The Company's
common shares trade on the TSX Exchange under the symbol CUM and additional
information is available on the Company's web site at www.CuMtn.com.

    On behalf of the Board of

    "Peter Holbek"

    Peter Holbek
    VP, Exploration

                     Come visit us at the PDAC in Toronto
                on Sunday March 1st or Monday March 2nd 2009
                               Booth No. 2406

    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 statements.

For further information:

For further information: Don Graham, Director, Investor Relations, (604)
682-2992 ext. 224 Or B&D Capital, (604) 685-6465

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890