Copper Mountain CEO to Retire, Appoints Mr. Gil Clausen as New President and CEO
VANCOUVER, April 27, 2018 /CNW/ - Copper Mountain Mining Corporation (TSX: CMMC) (the "Company" or "Copper Mountain") announced today that President and Chief Executive Officer James C. O'Rourke will be retiring on June 1, 2018. Mr. Gil Clausen, currently President and CEO and Director of Brio Gold Inc., will succeed Mr. O'Rourke as President and Chief Executive Officer and will also join the Company's Board of Directors. Mr. Clausen will complete his current obligations, including the closing of the acquisition of Brio Gold Inc., prior to joining Copper Mountain. Mr. O'Rourke will remain as non-executive Chairman and Director of the Company.
Mr. Clausen is a mining executive with more than 30 years experience in the areas of management, finance, development and operations in the base and precious metals industry. Mr. Clausen served most recently as President, CEO and Director of Brio Gold Inc., since its inception in 2014 until its current acquisition by Leagold Mining Corporation. Previously, Mr. Clausen was President, Chief Executive Officer and a Director of Augusta Resource Corporation from its inception in 2005 until Augusta was taken over by HudBay Minerals Inc. in 2014. Mr. Clausen was Executive Vice President, Mining at Washington Group International, Inc. from 2001 to 2005 and served as Vice President of Operations at Stillwater Mining Company from 1995 to 1999. Prior to 1995, Mr. Clausen was a mine general manager at several precious and base metal operations at Placer Dome Inc. Mr. Clausen is a Professional Engineer with Bachelors and Masters degrees in Mining Engineering from Queen's University.
Jim O'Rourke, President & Chief Executive Officer of Copper Mountain, commented "On behalf of the Board I am pleased to welcome Gil to drive our Company's growth forward in a fiscally prudent manner. His proven leadership skills and track record of value creation will unquestionably be an asset to the Company as we launch into our new phase of growth."
About Copper Mountain Mining Corporation:
Copper Mountain's flagship asset is the 75% owned Copper Mountain mine located in southern British Columbia near the town of Princeton. The Copper Mountain mine produces about 100 million pounds of copper equivalent per year with a large resource that remains open laterally and at depth. This significant exploration potential will be explored over the next few years in order to fully appreciate the property's full development potential. Recently, Copper Mountain shareholders approved the acquisition of Altona Mining Limited which brings significant growth potential with the development-ready Eva Copper (Cloncurry) Project and a massive exploration potential in the ~ 4,000 square km (379,000 hectare) mineralized land package all within the highly prospective Mt. Isa area in Queensland, Australia.
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
please contact: Dan Gibbons, Investor Relations, 604-682-2992 ext. 238, Email: [email protected]; Rod Shier, Chief Financial Officer, 604-682-2992 ext.222, Email: [email protected], Website: www.CuMtn.com
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