COPPER MOUNTAIN PROJECT CONTINUES ON TRACK
Web Site: www.CuMtn.com
TSX: CUM
VANCOUVER, Nov. 17 /CNW/ - Copper Mountain Mining Corporation (TSX: CUM) (the "Company" or "Copper Mountain") announces that construction work on the Company's Copper Mountain Project continues to proceed on schedule and as planned. Tomorrow the Company with SMS and Komatsu will celebrate the commissioning of the Company's new production shovel, a Komatsu PC 8000. The shovel being delivered to Copper Mountain is Komatsu's 75th PC 8000 hydraulic shovel produced globally. Preproduction mining activities are planned to commence with this main loading unit and the 7- 240 ton capacity haulage trucks that are already on site. The second half of the mining fleet, including a second PC8000, is scheduled to be on site by April 2011. Preproduction mining will start in the Pit 3 area with a push-back on the western wall. A total of 24 million tonnes of material is scheduled to be moved prior to the mill startup in May 2011.
Delivery of the Sag Mill and Ball Mills occurred in late summer and assembly is well underway as is the erection of interior structural steel and access platforms. Installation of various other major pieces of equipment in the mill is progressing well. The new substation has been connected to the BC Hydro grid and has been energized to provide site power. Installation of the fresh, reclaim water and tailings management facility pipeline is well advanced, and expected to be completed by month end.
Work on the support wall attached to the primary crusher is advancing for completion by month end. The company mobile mining fleet is being utilized to support the construction activities. Construction of the overland conveyor connecting the primary crusher to the concentrator via the reclaim tunnel is on target.
The overall schedule for the project remains unchanged with construction planned to be completed by the end of April 2011 for plant commissioning in May and in full production in June 2011. There are currently 478 personnel on site, 350 construction employees plus 128 company operations employees.
About Copper Mountain Mining Corporation:
Copper Mountain 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". Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Project. The 18,000 acre mine site is located 15 km south of the town of Princeton in southern British Columbia. The Copper Mountain Project has a current resource of approximately 5 billion pounds of copper and it is Copper Mountain'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 www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Jim O'Rourke"
J.C.(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.
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available at http://photos.newswire.ca. Images are free to accredited members of the media/
For further information:
Galina Meleger, Corporate Communications 604-682-2992 ext.224 Email: [email protected] or
Don Graham, Investor Relations 604-682-2992 ext.224 Email: [email protected]
Website: www.CuMtn.com
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