Positive drill results advance New Ingerbelle deposit

VANCOUVER, Feb. 1, 2018

VANCOUVER, Feb. 1, 2018 /PRNewswire/ - Copper Mountain Mining Corporation (TSX: CMMC) (the "Company" or "Copper Mountain") is pleased to announce all results from its drilling program at the New Ingerbelle deposit at the Copper Mountain mine.

Results from the fourteen completed drill holes, totalling 4,750m are summarized in the table below.  The drill program was successful as follows:

1. Validated and confirmed historical data and therefore resources that are currently classified as Inferred can now be upgraded to categories based on mineralization continuity and data density;
2. Drilling intersected mineralization peripheral to the block model indicating potential for the expansion of resources both laterally, and at depth;
3. Drill hole assays confirmed the high gold tenor of the Ingerbelle mineralization estimated from historical production data to average 0.66g/t Au for every 1% of copper grade.  

Drill hole locations were designed so as to intersect the historically defined mineralization in an evenly distributed pattern to the extent that topography, and water or backfilled areas, would allow (see attached map and section). Historical drill data in the Ingerbelle deposit consisted of 582 drill-holes totalling 80,500m, approximately half of which are below the previously mined area.  The 35 significant drill intersections from the current program, as tabulated below, have an average Cu Eq grade of 0.48% ( 0.34% Cu, 0.70g/t Ag and 0.22g/tAu).

The Ingerbelle resource, estimated from the historical data (inferred) that is within a whittle pit shell, generated using a US$2.75 copper price and current mine costs, contains 104Mt grading 0.42% Cu  Eq. (0.30% Cu and 0.20g/t Au) based on a 0.2% copper cut-off grade.  A revised resource estimate, using both historical and new drill data, will be completed in the near future.  Additional drill programs and engineering studies will be designed to upgrade resources to reserve status and targeted to define sufficient reserves that could contribute an additional 10 years of production to Copper Mountain's life-of-mine plan.

New Ingerbelle: Significant Drill Intersections