Copper Mountain Mining Provides Operational Update on Ransomware Attack

06 Jan 2023 14:02 CET

Vancouver, BC, January 6, 2023 – Copper Mountain Mining Corporation (TSX: CMMC |
ASX: C6C) (the “Company” or “Copper Mountain”) announces the Copper Mountain
Mine has resumed production after the December 27, 2022 ransomware attack
(please refer to Copper Mountain’s press release dated December 29, 2022
entitled “Copper Mountain Mining Subject to Ransomware Attack and Implements
Risk Management Systems and Protocols”). Throughout this downtime, which
resulted from the attack on its IT systems, the Company has been shipping copper
concentrate to the Port of Vancouver from mine inventory and has maintained its
planned shipping schedule.

On January 1, the Company resumed operations of the primary crusher at its
Copper Mountain Mine and shortly thereafter, the Company resumed operations at
the mill, which was preventatively shutdown following the attack. On January 4,
the mill was at full production and the operation is currently being stabilized
as the remaining business systems are fully restored.

Throughout the outage, all environmental management systems at the Copper
Mountain Mine were operational, and there were no environmental incidents or
injuries to personnel. The Company’s external and internal IT teams, along with
external cybersecurity experts, are continuing to actively establish additional
safeguards to mitigate any further risks to the Company. The Company’s primary
objective remains to return to full business functionality in a safe and secure
manner.

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
establishment of additional safeguards to eliminate the risks of further access
to the Company’s IT 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

579762_Copper Mountain Mining Restarts Mill (VFINAL).pdf