Copper Mountain Mining Subject to Ransomware Attack and Implements Risk Management Systems and Protocols

29 Dec 2022 22:33 CET

Vancouver, BC, December 29, 2022 – Copper Mountain Mining Corporation (TSX: CMMC
| ASX: C6C) (the “Company” or “Copper Mountain”) reports that the Company’s IT
systems at its Copper Mountain Mine and corporate office were subject to a
ransomware attack late on December 27, 2022. The Company quickly implemented its
risk management systems and protocols in response to the attack. The Company
has isolated operations, switched to manual processes, where possible, and the
mill has been preventatively shutdown to determine the effect on its control
system.

The Company’s external and internal IT teams are continuing to assess risks and
are actively establishing additional safeguards to mitigate any further risk to
the Company. Copper Mountain is investigating the source of the attack and is in
contact with the relevant authorities, who are assisting the Company.

There have been no safety or environmental incidents as a result of the attack.
The Company’s main priority is to continue to ensure safe operations and limit
operational and financial impacts.

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 impacts of the ransomware attack on the Company’s production and
costs, the expected temporary build of the Company’s stockpile until the Copper
Mountain Mine mill recommences processing, the establishment of additional
safeguards to eliminate the risks of further access to the Company’s systems,
anticipated production and cash flow 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, the protection of the
Company’s IT systems or a component of such systems impacting the Company’s
reputation and results of operations, 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:
Access the news on Oslo Bors NewsWeb site

579367_20221229 CMMC - IT Security Update VFINAL.pdf