Mitsubishi Closes On Purchase of 25% of Copper Mountain Project

    TSX : CUM

    VANCOUVER, Aug. 20 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or
the "Company") reports that Mitsubishi Materials Corporation ("Mitsubishi")
have now closed the purchase whereby Mitsubishi acquired a 25% interest in the
Copper Mountain Project ("Project"), located near Princeton, BC.
    The Project is an open pit porphyry copper mine that operated from 1972
to 1996 and over its life produced 1.74 billion pounds of copper, 730 thousand
ounces of gold and 9.1 million ounces of silver. The current resource is
estimated at 5 billion pounds of copper at a 0.15 % Cu cut-off. 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 Company's 2007 and 2008 exploration programs.
    To date, site activities have continued on schedule and were funded by
the Company's equity contributions and a $28.75 million line of credit from
Mitsubishi. This line of credit has now been fully repaid. Long lead items
have been ordered with the SAG and ball mill manufacturing well underway to
maintain the target production schedule for mid 2011. Detailed engineering is
progressing and site geotechnical excavation for the concentrator is now
complete. The office and warehouse complex is now fully functional with power,
heat, water, telephones, internet, and sewerage. The Company plans to start
pouring concrete foundations in September 2009 in preparation for a very busy
Spring 2010 construction schedule. The Company has approximately 20 employees
currently engaged at the site. 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. Over the 17 year life of the Project, it
is estimated that the mine will produce 1.47 billion pounds of copper, 452,000
ounces of gold, and 4.5 million ounces of silver.

    About Mitsubishi Materials Corporation:

    Established in 1950, Mitsubishi is one of the world's largest diversified
materials companies. In addition to being a leader in metal smelting and
refining, cement products and fabricated metals - notably Advanced Materials &
Tools - Mitsubishi is also a major supplier of Electronic Materials &
Components. Mitsubishi has invested in 4 (four) copper mines now under
operation, namely Los Pelambres, Escondida (both in Chile), Huckleberry
(Canada) and Batu Hijau (Indonesia). Mitsubishi's high-level research and
development programs are instrumental in enabling it to maintain its dominant
position in key markets. Mitsubishi comprises 221 subsidiaries and affiliates
in 25 countries, employing 21,224 people.

    About Copper Mountain Mining Corporation:

    CMMC is a Canadian 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". CMMC currently owns 100% of the 18,000 acre Copper Mountain
Project, located 15 km south of the town of Princeton in southern British
Columbia. The Copper Mountain Project is a past producer of 1.7 billion pounds
of Copper that closed in 1996, and therefore, there is significant developed
infrastructure on site that the Company can build upon. The Copper Mountain
Project has a current resource of approximately 5 billion pounds of copper and
it is CMMC's goal 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

    On behalf of the Board of

    "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, 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: please contact: Don Graham: Director, Investor
Relations, (604) 682-2992 ext. 224, Email:; or B&D Capital,
(604) 685-6465, Website:

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