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Copper Mountain announces third quarter 2013 results

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VANCOUVER, Oct. 30, 2013 – Copper Mountain Mining Corporation (TSX: CUM) (the “Company” or “Copper Mountain”) announces revenues of $67.6 million after pricing adjustments and treatment charges for the three months ended September 30, 2013.

Third Quarter 2013 Highlights (100% Basis)

  • Total production for the 2013 third quarter at Copper Mountain Mine (100%) was 17.7 million pounds of copper, 6,400 ounces of gold and 79,300 ounces of silver.
  • Revenues of $67.6 million for the quarter after pricing adjustments and treatment charges.
  • Copper concentrate shipments contained approximately 16.6 million pounds of copper, 6,300 ounces of gold, and 77,100 ounces of silver during the quarter.
  • Mining activities continued at a steady rate of 154,300 tonnes per day mined during the third quarter of 2013.
  • Milling activities continued to improve – Average throughput rate was 29,130 tonnes per day (tpd) in the third quarter of 2013, as compared to 26,000 tpd for the first half of the year.
  • Copper Recoveries were 87.2% in the third quarter as compared to 85.0 % for the first half of the year.
  • EBITDAand Adjusted EBITDAwere $29.5 million and $14.8 million for the quarter respectively.
  • Net income attributable to the shareholders of the Company were $11.2 million or $0.11 per share
  • Site cash costs were US$1.68 per pound of copper produced net of precious metal credits.
  • Total costs were US$2.22 per pound of copper sold net of precious metal credits and after all off site charges.
  • Average realized copper price for the period US $3.22 per pound.

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