Copper Mountain Mining Announces Appointment of Patrick Merrin as President and CEO

16 Mar 2023 13:07 CET

Vancouver, BC – March 16, 2023 – Copper Mountain Mining Corporation (TSX: CMMC |
ASX: C6C) (the “Company” or “Copper Mountain”) announces the appointment of
Patrick Merrin as President and CEO effective April 24, 2023.

Mr. Merrin has extensive experience in the mining industry including ten years
of senior executive operational and technical experience. Mr. Merrin’s
leadership positions focused on North American mines and projects, including
most recently acting Senior Vice President of Canadian Operations at Newcrest
Mining. He was previously COO, Mining and interim CEO at Dominion Diamonds,
Senior Vice President, Canadian Operations at Goldcorp and Vice President,
Arizona Business Unit at Hudbay Minerals. Mr. Merrin holds a Bachelor’s Degree
in Chemical Engineering from McGill University and an MBA from the University of
Toronto, Rotman School of Business. Mr. Merrin is also a professional engineer.
In addition, Mr. Merrin will serve as a member of the Board of Directors.

“We are pleased to have Pat join the Copper Mountain team,” said Ed Dowling,
Copper Mountain’s Chair of the Board of Directors. “His extensive operational
experience, particularly in Canada and most recently at Newcrest, will be
instrumental to the Company as we focus on operational excellence, exploration,
and growth at Copper Mountain. We are looking forward to future value creation
under Pat’s leadership.”

Mr. Merrin succeeds the Company’s current President and CEO, Gil Clausen, who
will retire effective May 1, 2023, as previously announced. Mr. Clausen will be
retained on an advisory basis until May 1, 2024 to ensure an orderly and
effective transition. Mr. Clausen will remain on the Board as a non-independent
director until the Company’s 2023 Annual General Meeting, which is planned for
June 8, 2023.

Mr. Dowling added, “On behalf of the Board, I would like to thank Gil for his
dedicated service to Copper Mountain since taking on the CEO role in June 2018.
Gil has provided exemplary and unwavering leadership over the last five years.
He has created significant value for shareholders and has helped transform the
Company. We are very grateful for his commitment and wish him the best in his
upcoming retirement.”

Gil Clausen commented, “It has been an absolute pleasure working with the team
at Copper Mountain over the past five years. We have an exceptionally talented
group whose passion and commitment are evident every single day. I am very
pleased with all that we have achieved so far at Copper Mountain, with plenty
more to come.”

About Copper Mountain Mining Corporation
Copper Mountain owns 75% of the Copper Mountain Mine, which is located in
southern British Columbia near the town of Princeton. The Copper Mountain Mine
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

“Edward Dowling”

Edward Dowling
Chair of the Board

For further information, please contact:

Tom Halton
Director, Investor Relations and Corporate Communications
Telephone: 604-682-2992
Email: Tom.Halton@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 timing
of Mr. Merrin’s appointment as President and Chief Executive Officer of the
Company, the timing of Mr. Clausen’s retirement and continued role with the
Company, 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, 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 protection of the Company’s IT systems or a component of such systems
impacting the Company’s reputation and results of operations, 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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585382_03 CEO Appointment (VFINAL).pdf