October 28, 2008
Copper King Responds to Metal Price Volatility
Copper King Mining Corporation (Pink Sheets:CPRK) announced today that it has tracked a number of reductions in its projected operating costs that will correspond to reduced metal prices. The cost reductions will serve to soften the impact of the current lower copper, silver, gold and other metal prices. Notably, reduced fuel and materials costs are expected to be realized in the company's operations.
The company notes that a number of coincidental factors, such as the upcoming election in the United States and recent fears over the condition of World credit markets, have impacted metal prices.
However, the company believes that actual demand for copper and all other commodities is strong and will increase. Further, the potential for inflation, once credit and election uncertainties are eased, will put significant upward pressure on metal prices. The company therefore believes that, as it moves into the production phase on its Hidden Treasure Mine, metal prices will recover upward toward their recent highs and will perhaps begin to move even higher.
In addition, the company believes that the high-grade ore at its Hidden Treasure Mine (in excess of 2% copper with additional credits for silver, gold, molybdenum and magnetite) will also serve to keep its operating costs among the lowest in the industry on a per pound of copper basis. This will help the company maintain its operations on a competitive basis.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may,""will,""should,""could,""expects,""plans,""intends,""anticipates,""believes,""estimates,""predicts,""forecasts,""potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information, visit Copper King's website at http://www.copperkingmining.com or contact Gavin Wetzel at 801-548-2831.