Copper Mountain Announces Production Results for Q3-2017

TSX: CMMC

VANCOUVER, Oct. 11, 2017 /PRNewswire/ - Copper Mountain Mining Corporation (TSX: CMMC) (the "Company" or "Copper Mountain") announces production results for the third quarter of 2017, from the Copper Mountain Mine located in southern British Columbia.

Third Quarter 2017 Production Highlights:

• Annual production on track:  Produced 20.9 million pounds of copper, 6,700 ounces of gold, and 79,270 ounces of silver during the third quarter, bringing production totals to 56.2 million pounds of copper, 18,400 ounces of gold, and 207,000 ounces of silver for the first three quarters of 2017, which meets guidance for the year. 
   
  
• Precious metals contribution significant: Gold and silver production continues to provide a favourable contribution to the operation and accounts for plus 15% of gross revenue.
  
  
• Mill throughput:  The average milling rate of 41,158 tpd for the quarter set a new record. Total tonnes milled during the period was 3.8 million with an operating time of 93.5%. Copper recovery for the period was 77.3% which reflects the coarser grind at the higher tonnage rates. The average head grade for the quarter was 0.324% copper, bringing the year to date average to 0.315% copper which is 4.5% above guidance. 
   
  
• Mining production strong:  Open pit mining averaged 189,500 tonnes of material per day during the third quarter, bringing the year to date average 9% ahead of guidance at 196,300 tonnes of material per day mined. 

Mining activities continued from the Pit 2, Saddle and Pit 3 Stage 3 area, as well as the Oriole pit during the quarter.  A total of 17.4 million tonnes of material was mined, including 6.8 million tonnes of ore and 10.6 million tonnes of waste, resulting in a strip ratio of  1.55 to 1.  High mechanical availability on mobile equipment was maintained during the quarter and the optimized waste haul management helped contribute to the above average mining rates being achieved.

Mr. Jim O'Rourke, President and Chief Executive Officer of Copper Mountain Mining, said "We are very pleased that the favourable third quarter production results continue to demonstrate the mine's stable performance. We are bullish on the near term copper cycle and this coupled with the mine's performance demonstrates the company is well positioned to build cash on the balance sheet"

About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the Copper Mountain mine located in southern British Columbia near the town of Princeton. The Company has a strategic alliance with Mitsubishi Materials Corporation who owns 25% of the mine. The Copper Mountain mine has a large resource of copper that remains open laterally and at depth. This significant exploration potential is being explored over the next few years in order to fully appreciate the property's full development potential. 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, P.Eng.
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.

SOURCE Copper Mountain Mining Corporation

Related Links

http://www.CuMtn.com