Copper Mountain Mining Receives FIRB Approval and Anticipates Imminent Completion of the Sale of the Eva Copper Project and the Australian Exploration Tenements

15 Dec 2022 09:23 CET

Vancouver, British Columbia – December 15, 2022 – Copper Mountain Mining
Corporation (TSX: CMMC | ASX: C6C) (the “Company” or “Copper Mountain”) is
pleased to announce that the Foreign Investment Review Board (“FIRB”) in
Australia granted approval on December 13, 2022 (the “FIRB Approval”) for the
previously announced sale of Copper Mountain’s wholly-owned Eva Copper Project
and its 2,100km2 exploration land package in Queensland, Australia (the
“Transaction”) to Harmony Gold Mining Company Limited (JSE: HAR) (NYSE: HMY)
(“Harmony”). See Copper Mountain’s press release dated October 6, 2022 (“Copper
Mountain Mining Announces Agreement to Sell the Eva Copper Project and the
Australian Exploration Tenements for Total Consideration of up to US$230
Million”) for additional details regarding the Transaction.
The FIRB Approval was the final key condition to the closing of the Transaction.
The Company expects the Transaction to be completed imminently upon the Company
receiving the cash consideration for the Transaction from Harmony.
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 currently produces approximately 100 million pounds of copper equivalent on
average per year. Copper Mountain trades on the Toronto Stock Exchange under the
symbol “CMMC” and Australian Stock Exchange under the symbol “C6C”.
Additional information is available on the Company’s web page at www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
“Gil Clausen”
Gil Clausen
President and Chief Executive Officer
For further information, please contact:
Tom Halton
Director, Investor Relations and Corporate Communications
Telephone: 604-682-2992
Email: Tom.Halton@CuMtn.com
Website: www.CuMtn.com
Cautionary Note Regarding Forward-Looking Statements
This news release may contain “forward looking information” within the meaning
of Canadian securities legislation and “forward-looking statements” within the
meaning of the United States Private Securities Litigation Reform Act of 1995
(collectively, “forward-looking statements”). These forward-looking statements
are made as of the date of this news release and Copper Mountain does not
intend, and does not assume any obligation, to update these forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required under applicable securities legislation.
All statements, other than statements of historical facts, are forward-looking
statements. Generally, forward-looking statements relate to future events or
future performance and reflect Copper Mountain’s expectations or beliefs
regarding future events.
In certain circumstances, forward-looking statements can be identified, but are
not limited to, statements which use terminology such as “plans”, “expects”,
“estimates”, “intends”, “anticipates”, “believes”, “forecasts”, “guidance”,
scheduled”, “target” or variations of such words, or statements that certain
actions, events or results “may”, “could”, “would”, “might”, “occur” or “be
achieved” or the negative of these terms or comparable terminology. In this news
release, certain forward-looking statements are identified, including the
anticipated closing date of the Transaction, anticipated production at the
Copper Mountain Mine, and expectations for other economic, business and/or
competitive factors. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual results, performance,
achievements 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, among others,
assumptions concerning the Transaction and the operations and capital
expenditure plans of the Company following completion of the Transaction, the
potential impact of the consummation of the Transaction, the diversion of
management time on the Transaction, the successful exploration of the Company’s
property in Canada, market price, continued availability of capital and
financing and general economic, market or business conditions, the Company’s
ability to comply with its financial covenants under its bond terms and meet its
future cash commitments, extreme weather events, material and labour shortages,
the reliability of the historical data referenced in this document and risks set
out in Copper Mountain’s public documents, including the management’s discussion
and analysis for the quarter ended September 30, 2022 and the annual information
form dated March 29, 2022, each filed on SEDAR at www.sedar.com. Although Copper
Mountain has attempted to identify important factors that could cause the
Company’s actual results, performance, achievements and opportunities to differ
materially from those described in its forward-looking statements, there may be
other factors that cause the Company’s results, performance, achievements and
opportunities not to be as anticipated, estimated or intended. While the Company
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. Accordingly, readers should not place undue reliance on the
Company’s forward-looking statements.

More information:
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578241_News Release #27 (12 15 2022) FIRB Approval VFINAL.pdf