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Copper Mountain 2008 exploration drill program final results

Posted on: Wednesday, 21 January 2009, 07:00 CST

TSX : CUM

VANCOUVER, Jan. 21 /PRNewswire-FirstCall/ - Copper Mountain Mining Corporation ("CMMC" or the "Company") is pleased to provide the balance of assay results from its 2008 exploration program. A total of 63,126 metres of drilling was completed making this one of the largest exploration drilling programs in Canada. The 2008 program was successful in the extending known mineralized zones, and in defining new areas of mineralization. A number of the drilling successes also demonstrated significant correlation of copper mineralization with the Titan 24 geophysical results. The objectives of the drilling program were to increase the size and grade of the overall resource base, particularly in areas adjacent to and below the currently defined Super-pit area, and discover and/or define new zones of mineralization. In addition, a certain amount of condemnation and geotechnical drilling was required in order to move forward with mine development. All assay data has now been received, compiled, verified and incorporated into the extensive project database and the previously reported, December 2007 resource estimate, is currently being updated with the 2008 results. Highlights of results from the final 41 drill holes are included in the table below. All data can be viewed at the company's website. Following completion of the new resource estimate, the Company will refine existing mine plans to further optimize the project.

The most significant exploration results of the program came from the area to the west of Pit 2, termed the Copper King zone, from depth extensions in the Pit 3 area, expansion and delineation of the Mill Zone and expansion and upgrading of the Oriole deposit. Additional results were also obtained from drill-holes filling in some of the remaining gaps within the Saddle zone.

Copper King

Drilling to the west of Pit 2, in the Copper King zone, has extended mineralization by 2,000 feet to the west. The defined area of mineralization measures 2,000 feet (west of Pit 2) by 2,000 feet (north of Pit 1) and to depths of 1,000 feet. Mineralization remains open to the west and at depth. Drilling was carried out on approximate 200 foot spacing of inclined holes. An east-west trending band, approximately 200 to 300 wide, of mineralization grading above the 0.5% copper range forms a core to the mineralized zone and correlates very well with the core of the very high Titan 24 chargeability anomaly. The chargeability anomaly extends to depths in excess of 2,600 feet. Some of the more significant intersections include drill-holes: P2-67 with 400 feet of 0.79% Cu Eq.; P2-130 with 250 feet of 0.60% Cu Eq.: and P2-140 with 390 feet of 0.46% Cu Eq. Drill-hole P2-151, from this release, is the most north-westerly hole in the zone and intersected a near surface zone of 280 feet grading 0.42% Cu, with additional lower grade intersections at depth. This step-out hole confirms that the zone remains open to the northwest and that additional drilling is warranted in this area for the Company's 2009 exploration program.

Pit 3 Area

Drilling in the Pit 3 area was conducted to define additional resources in the pit walls and to extend mineralization to depth. Drilling in the pit walls was successful in intersecting mineralization in areas peripheral to known mineralization and in some new areas, particularly along the north-eastern wall in a trend highlighted by the Titan 24 geophysical survey. Deep drilling below Pit 3 was successful at demonstrating the extension of mineralization to depth. Drill-hole P3-08 was 3,000 feet in length drilled from eastern edge of Pit 3 and intersected four zones of mineralization. The deepest of which, was 322 feet (254 feet in horizontal thickness) grading 1.5% Cu Eq. and occurs 1,200 feet below the current pit bottom and 600 feet below the bottom of the Feasibility design pit. Subsequent drill holes confirmed the continuity of mineralization to these depths and geophysical data indicates that chargeability anomalies extend to much greater depths. Results in the attached table highlight the grades obtained below the Pit 3 area and the other areas tested.

Table of intersection highlights from final 2008 drill holes ------------------------------------------------------------------------- Hole-ID Location Azimuth Dip From To Length Cu Eq Cu Ag Au ------------------------------------------------------------------------- Copper King (Pit 2-West) ft ft ft % ppm ppm ------------------------------------------------------------------------- CM08P1-16 Pit 1 West 819 937 118 0.41 0.37 1.16 0.08 ------------------------------------------------------------------------- CM08P1-22 Pit 1 West 234 -57 1224 1417 190 0.52 0.45 1.29 0.16 ------------------------------------------------------------------------- ------------------------------------------------------------------------- CM08P2-150 Pit 2 West 45 -48 690 940 250 0.37 0.29 0.66 0.20 ------------------------------------------------------------------------- CM08P2-151 Pit 2 West 45 -47 220 500 280 0.42 0.36 0.74 0.15 ------------------------------------------------------------------------- CM08P2-127 Pit 2 West 39 -45 450 580 130 0.56 0.45 1.04 0.25 ------------------------------------------------------------------------- Pit 3 Area ------------------------------------------------------------------------- CM08P3-43 Pit bottom 214 -76 271 355 84 0.69 0.57 1.94 0.26 ------------------------------------------------------------------------- CM08P3-45 " 248 -67 620 853 233 0.78 0.67 3.44 0.21 ------------------------------------------------------------------------- CM08P3-49 " 223 -72 120 390 270 0.60 0.56 1.43 0.07 ------------------------------------------------------------------------- CM08P3-50 " 37 -51 60 340 280 0.62 0.57 1.95 0.08 ------------------------------------------------------------------------- CM08P3-52 " 45 -52 9 219 210 0.79 0.71 3.95 0.13 ------------------------------------------------------------------------- CM08P3-53 " 224 -69 10 210 200 0.76 0.70 1.77 0.11 ------------------------------------------------------------------------- CM08P3-55 " 57 -75 266 324 58 1.91 1.61 12.9 0.54 ------------------------------------------------------------------------- CM08P3-55 " 374 534 160 0.62 0.56 2.71 0.10 ------------------------------------------------------------------------- CM08P3-57 " 233 -50 750 850 100 0.77 0.63 3.65 0.30 ------------------------------------------------------------------------- CM08P3-58 " 74 -45 381 521 140 0.64 0.61 1.79 0.05 ------------------------------------------------------------------------- Saddle Zone ------------------------------------------------------------------------- CM08SD-58 39 -46 540 730 190 0.65 0.57 1.43 0.18 ------------------------------------------------------------------------- * Based on metal prices of: Copper US $1.80/lb, Gold at US $800/Oz, and Silver at US $12/Oz with metallurgical recoveries at 92%, 60% and 50%, respectively.

Oriole Zone

Twenty drill-holes were completed in the Oriole Zone, an extension of the Copper Mountain trend to the southeast of Pit 3, and resulted in an expansion of mineralization with significantly high grades. Drill hole OL-07 intersected 131 feet grading 1.44% Cu Eq. and nearby OL-17 intersected 119 feet of 2.31% Cu Eq. The Oriole zone is a relatively small area but may provide an economically significant starter pit which would likely merge into Pit 3, resulting in a southeasterly expansion of the Super-pit by more than 1,000 feet. Additional drilling is warranted in this area and will be incorporated into the Company's 2009 exploration program.

Saddle Zone

The Saddle area between Pit 2 and Pit 3 was predominately drilled during the 2007 program but the block model for the Feasibility study indicated a number of untested areas at depth where resources could be developed. An additional 6 holes were completed to test some of the barren areas. Results were modestly favourable with potential to add to the resource base in this area.

Mill Zone

The Mill Zone area is a small plateau area just to the east of Pit 2. Initial condemnation drilling related to the proposed crusher location identified some broad zones of lower grade disseminated mineralization with some bands of higher grade mineralization. A wide spaced drill grid was subsequently established over the area. A total of 23 drill holes were completed and indicate a large area of 1,400 by 2,300 feet of generally, low-grade mineralization, with some higher grade sections. Potential development of this area will be dependent upon the results from the current resource estimation and subsequent mine planning.

The mineralized system at Copper Mountain is classified as a bulk-tonnage, alkalic porphyry copper deposit that is hosted within Nicola Group volcanic rocks. Mineralization is structurally controlled and focused at multi-directional vein intersections and within vein stockwork systems. Drill holes are usually drilled at angles of -45 or -55 degrees to provide the best indication of the lateral extents of vertically oriented mineralization.

The Copper Mountain project is located 300 km outside of Vancouver, British Columbia. The Copper Mountain project is a former producer of just under 2 billion pounds of copper and as a result has extensive infrastructure in place, including power and water. The site can be accessed year round via a paved public road to the mine gate, 20 kilometres from the town of Princeton.

Quality Assurance

The company employs a system of quality control for drill results which includes the use of blanks, certified reference material (standards) and check assaying. Core is logged on site and split with a diamond saw. Samples are shipped to Pioneer Laboratories for geochemical analysis of copper with all values of greater than 1,000 ppm copper being re-analysed by assay methods for copper, gold and silver. The drilling program is being supervised by Peter Holbek, M.Sc., P.Geo., a qualified person as defined by National Policy Instrument 43-101.

About Copper Mountain Mining Corp.:

CMMC is a BC resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company's shares trade on the Toronto Venture Exchange under the symbol "CUM". The Company owns 100% of Copper Mountain Project which holds the mineral claims and crown grants over the 18,000 acre mine site. Copper Mountain Mining Corp. has the goal of developing the Copper Mountain Project as a mid tier copper and precious metal producer within the next three years. Additional information is available on the Company's web page at www.CuMtn.com.

On behalf of the Board of COPPER MOUNTAIN MINING CORPORATION "Peter Holbek" Peter Holbek VP Exploration

Note: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents, filed by the Company on SEDAR at www.sedar.com, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement.

SOURCE Copper Mountain Mining Corporation

Source: PR Newswire

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