Copper Mountain closes IPO, trading starts Friday June 29, 2007

    VANCOUVER, June 28 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or
the "Company") announced today that it has now closed its Initial Public
Offering ("IPO") which was led by Raymond James Ltd as lead agent and raised
gross proceeds of $7,015,000. It is expected that trading of the Company's
shares will start at market opening on June 29, 2007 under the symbol
TSX.V: CUM. The IPO financing consisted of 3.45 million units (each a "Unit")
at a price of $1.45 per Unit and 1.15 million common shares issued on a
flow-through basis under the Income Tax Act of Canada (the "Flow-Through
Shares") at a purchase price of $1.75 per Flow-Through Share. This includes a
15% Over-allotment option that was fully exercised by the lead agent. Each
Unit consisted of one common share and one half of one common share purchase
warrant (the "Warrant"). Each whole Warrant entitles the holder to purchase
one common share of the Company at a purchase price of $2.00 per share up
until December 28, 2008. The Warrants are subject to an acceleration right
("Acceleration Rights") at the option of the Company if, at any time the
average closing price of the Company's common shares on the TSX Venture
Exchange is greater than $2.50 for 20 or more consecutive trading days, the
Company may give 21 days notice ("Prior Notice") to the holders of the
Warrants that the expiry date for exercise of the Warrants has been
accelerated and the Warrants will expire on the 21st calendar day following
the date of such Prior Notice. Raymond James Ltd received a commission of
$526,125 paid in cash, a corporate finance fee of $40,000, and 345,000 Broker
Warrants which entitles the holder to purchase one common share of the
Corporation at a purchase price of $2.00 per share at any time until
December 28, 2008, subject to the Acceleration Rights. Proceeds from this IPO
will be used to further the exploration activities on the Company's Copper
Mountain Project and for general working capital purposes.
    The Copper Mountain Project is located about 15 km west of Princeton,
British Columbia and has excellent property access and infrastructure. Located
in southern BC facilitates year round access for drilling on site. The Company
currently has three drills operating on the property. Drilling is currently
being conducted in three areas: 1) the saddle zone, which is the area between
the No.1, No.2 and No.3 open pits, (see for a
Property Layout); 2) the Pit 2 area, which includes the areas below the pit
bottom and north, east and westward extensions to the pit, and 3) the Pit 3
area, which also includes the areas below the pit bottom. Historical resources
remaining on the property were reported as 142 million tons of resources
grading 0.397% Cu(*) by the former owner Princeton Mining Corporation in their
1996 annual report. Based on the recommendations of the Company's Technical
Report completed by Orequest dated June 15, 2007 the Company is completing an
initial program of 15,000 meters, to complement the 12,000 meters that have
already been drilled by the Company this year. The drill program is targeted
at confirming the historical resource and possible expansion of the historical
resource. As part of the exploration program the Company will be commissioning
a NI 43-101 compliant resource estimate based on the historical drilling
information and some of the new drilling.
    CMMC owns 100% of Similco Mines Ltd which holds the mineral claims and
crown grants over the 18,000 acre Similco Mine site. Additional information is
available on the Company's web page at

    (*) Regulatory Information:
    These historical resource estimates are taken from the Orequest Technical
Report dated June 15, 2007 and filed on Sedar. These historical resources
should not be relied upon but are deemed relevant. Peter M. Holbek, P. Geo. is
the Qualified Person as defined in NI 43-101 for reporting purposes and he has
reviewed the technical information in this release.

    On behalf of the Board of

    "Jim O'Rourke"

    Jim O'Rourke
    Chief Executive Officer

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    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, 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.

    %SEDAR: 00025279E

For further information:

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

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