Copper Mountain Mining Announces Q1-2018 Financial Results

Highlights (100% Basis)

• Copper, gold and silver production for the first quarter of 2018 at Copper Mountain Mine was 23.2 million pounds of copper equivalent which includes 19.9 million pounds of copper, 6,070 ounces of gold and 77,900 ounces of silver.

• Revenue for the period was $78.0 million, from the sale of 21.7 million pounds of copper, 6,500 ounces of gold and 80,600 ounces of silver, net of pricing adjustments.Gross profit for the quarter was $6.3 million.

• Adjusted EBITDA was $28.6 million for the quarter, compared to $16 million in the same quarter for 2017.

• Adjusted earnings were $10.6 million or $0.08 per share, compared to $0.3 million and nil per share for the same quarter of 2017.

• Site cash costs for the 2018 first quarter were US$1.46 per pound of copper produced net of precious metal credits.

• Total cash costs for the period were US$1.90 per pound of copper sold net of precious metal credits and after all off-site charges.

• At the end of the quarter the Company had $42.5 million in cash, and received an additional $22 million on April 4, 2018 relating to an end of March shipment of copper concentrate.

• Realized prices on metal sales were US$3.17 per pound of copper, US$1,326 per ounce of gold and US$16.60 per ounce of silver.

Jim O’Rourke, President and CEO of Copper Mountain, remarked “During the first quarter of 2018, the  mill throughput averaged 38,800 tpd. Abnormally high snowfall during the quarter created operating challenges in the pit and resulted in some power supply disruptions.  We remain bullish on the outlook for the copper market and with our production on target we are well positioned to benefit from a strong copper price environment. We continue to focus on cost control and operational improvements to further strengthen the Company’s balance sheet.” 

During the quarter, the Company completed a total of four shipments of copper concentrate containing approximately 21.7 million pounds of copper, 6,500 ounces of gold, and 80,600 ounces of silver which generated $78 million in revenue net of treatment and refining charges and pricing adjustments, a 5 % increase over Q1 2017.  Site cash costs were US$1.46 per pound of copper produced and total cash costs were US$1.90 per pound sold, net of precious metal credits for the three months ended March 31, 2018; compared to site cash costs of US$1.36 per pound of copper produced and total cash costs of US$1.86 per pound of copper sold, net of precious metal credits for the three months ended March 31, 2017.

Mining activities were mainly focused in the Pit #2, Saddle and Oriole Pit areas for the first quarter of 2018. During the quarter a total of 16.6 million tonnes of material was mined, including 6.5 million tonnes of ore and 10.1 million tonnes of waste for a strip ratio of 1.54:1. During the quarter the mine experienced abnormally high snow fall causing some challenges in the pit and a minor disruption in power supply.  During the quarter mining rates of 184,300 tonnes per day moved were achieved.

During the quarter the mill processed a total of 3.5 million tonnes of ore grading 0.33% copper to produce 19.9 million pounds of copper, 6,070 ounces of gold, and 77,900 ounces of silver. Mill head grade was above guidance for the quarter, while copper recoveries were above the plan at 79%. Mill operating time during the quarter averaged 93% and the mill achieved an average throughput rate of 38,800 tpd during the quarter.

The Company currently has 435 operating employees engaged at the mine site.

Exploration Update:

During the quarter exploration work consisted of continuous near mine compilation work as well as developing localized exploration drill programs to implement this summer to optimize long term mine planning.

The Company completed the acquisition of Altona Mining Limited on April 18, 2018.  With the acquisition the Company holds minerals tenures over approximately 4,000km² along the Rose Bee fault complex spanning 250 km that is a dominate land position in the Eastern Mt. Isa Inlier area.  The Company is planning to follow up on some of the successful drilling from Altona’s 2017 drilling program on the Companion, Veiled and Quamby prospects.  These prospects add to an emerging cluster of copper-gold discoveries south of the proposed Eva Copper Project.

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 large exploration potential is being explored over the next few years in order to fully appreciate the property’s full development potential. Recently, Copper Mountain’s acquisition of Altona Mining Limited has been completed which brings with it approximately A$30M cash, the Cloncurry project with development-ready Eva Copper Project and an extensive exploration potential in the acquired ~ 4,000 square km (379,000 hectare) mineralized land package within the highly prospective Mt. Isa inlier area in Queensland, Australia.

Additional information is available on the Company’s web page at www.CuMtn.com.

A conference call and audio webcast will be held on Friday April 27, 2018 at 7:30 am (Pacific Daylight Time) for management to discuss the first  quarter 2018 results.  This discussion will be followed by a question-and-answer period with investors.

Live Dial-in information

Toronto and international:                      647-427-7450

North America (toll-free):                   1-888-231-8191

To participate in the webcast live via your computer go to:

: http://event.on24.com/r.htm?e=1396431&s=1&k=67F97D9094AA01C7BA6587307E6DA50A

Replay call information

Toronto and international:       416.849.0833,  passcode  1590989

North America (toll-free):       1.855.859.2056,  passcode  1590898

The conference call replay will be available from 10:30 am (PDT) on April 27, 2018, until 11:59 pm PST on  May 14, 2018. Participant audio webcast will also be available on the Company’s website at http://www.CuMtn.com

On behalf of the Board of

COPPER MOUNTAIN MINING CORPORATION

 “Rod Shier”

Rodney A. Shier, CPA,CA

Chief Financial Officer

For further information, please contact:

Dan Gibbons, Investor Relations at 604-682-2992 ext. 238 or e-mail: Dan@cumtn.com

Rod Shier, Chief Financial Officer at 604-682-2992 ext.222 or e-mail: Rod@CuMtn.com

In Europe:

Swiss Resource Capital AG

Jochen Staiger

info@resource-capital.ch

www.resource-capital.ch

Website: www.CuMtn.com

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws.  All statements, other than statements of historical facts, are forward-looking statements.  Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”.  Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements.  Factors that could cause actual results to differ materially from these forward-looking statements include the successful exploration of the Company’s properties in Canada and Australia, the reliability of the historical data referenced in this press relase and risks set out in Copper Mountain’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com.  Although Copper Mountain believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.  Except where required by applicable law, Copper Mountain disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.