VANCOUVER, BC, Jan. 6, 2023
/CNW/ - 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
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.
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SOURCE Copper Mountain Mining Corporation