Copper Mountain Mine Achieved Record Production

VANCOUVER - Copper Mountain Mining Corporation reported production results for the second quarter of 2014 from the Copper Mountain mine located in southern British Columbia.

Copper production for the second quarter of 2014 totaled 19.9 million pounds of copper, a 4% increase as compared to the first quarter of 2014, setting another new production record for the mine. The concentrate also included 5,000 ounces of gold and 113,300 ounces of silver. During the quarter the mill processed a total of 2.8 million tones of ore at an average grade of 0.388 % Copper.  During the quarter the mill achieved 90.2% availability and averaged a total of 30,450 tpd throughput of which approximately 12,500 tpd of the mill feed was crushed to minus two inches with the temporary secondary crushing measures currently in place.

Mining activities continued to shift more towards Pit 3 during the quarter and mining in the Pit 2 area was entirely focused on the southwest end of the Pit. During the quarter a total of 17.1 million tones of material was mined, including 4.6 million tones of ore and 11.5 million tones of waste. The projected life of mine strip ratio is 2 to 1 but higher in the early years. The mine moved an average of approximately 188,250 tones of material per day.

Copper production during the quarter was in line with guidance, however shipment timing limited sales during the quarter.  During the second quarter of 2014 the mine shipped 35,900 wmt of concentrate containing approximately 17.5 million pounds of copper, 5,900 ounces of gold, and 87,650 ounces of silver generating an estimated US $62.7 million in gross revenue. The next ship planned was loading on July 10th with about 10,000 wmt of concentrate.