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Copper Mountain announces 2012 year end results

               Copper Mountain announces 2012 year end results

PR Newswire

VANCOUVER, March 18, 2013

This release should be read with the unaudited financial statements and
management's discussion and analysis available at www.cumtn.com and filed on
www.sedar.com. Our financial results are prepared in accordance with IFRS and
expressed in Canadian dollars, unless otherwise noted. Sales and production
volumes for the Company's 75%-owned Copper Mountain Mine are presented on a
100% basis unless otherwise indicated.

Web Site: www.CuMtn.com
TSX: CUM

VANCOUVER, March 18, 2013 /PRNewswire/ - Copper Mountain Mining Corporation
(TSX: CUM) (the "Company" or "Copper Mountain")  announces a gross profit of
$38.2 million for the year ended December 31, 2012, an increase of 137% over
the prior year.

                           Year End 2012 Highlights
  *Gross profit for the year was $38.2 million.
  *Revenues for 2012 were $229.5 million from the sale of 59 million pounds
    of copper, 20 thousand ounces of gold, and 402 thousand ounces of silver.
  *Total production for the 2012 year at Copper Mountain mine (100%) was 57
    million pounds of Copper, 19 thousand ounces of gold, and 354 thousand
    ounces of silver.
  *Mining activities continued to improve during the year, exiting 2012 at a
    rate of 186,250 TPD mined
  *Milling activities continued to improve during the year, with the
    resolution of a number of one off issues in the mill
  *EBITDA^1 and Adjusted EBITDA^2 for the year were $61.2 million and $61.7
    million respectively.
  *Adjusted^3 4 earnings for the year was $27.9 million or $0.28 per share.
  *Site cash costs for the year was US$1.83 per pound of copper produced net
    of precious metal credits.
  *Total cash costs for the year was US$2.32 per pound of copper sold net of
    precious metal credits and after all off- site charges.
  *Average realized copper price for 2012 was $3.61 per pound, in line with
    the average London Metal Exchange price for 2012

Jim O'Rourke, President  and CEO of  Copper Mountain, remarked  "We have  been 
challenged with mill  availability and throughput  tonnage in the  mill for  a 
majority of 2012, but are very pleased  to report that our efforts are  paying 
off. Although we  ended the year  with an  82% availability in  the mill  for 
2012, we  have  since seen  significant  improvements in  availability  as  we 
achieved 93% availability in February 2013.  The mill is still challenged  to 
consistently make designed tonnage when receiving only Pit#3 ore as it is very
hard, and we are now  testing additional explosives to increase  fragmentation 
of the  ore and  are evaluating  the installation  of a  secondary crusher  to 
pre-crush the ore entering the SAG Mill.  In doing so this would allow for  a 
consistent size  of  finer  ore  going  into the  SAG  Mill  to  optimize  the 
operation.  Initial  estimates  indicate   that  improved  fragmentation   or 
pre-crushing would  result in  ensuring the  plant meets  the original  design 
capacity with potential for the grinding  capacity of the SAG to be  increased 
to the 40,000 tonnes per day  range. This expansion would further  strengthen 
the Copper Mountain Mine and ensure that it forms a strong and consistent base
for the company's future. "

_____________________________________
^1 EBITDA represents earnings before interest, income taxes and depreciation.
^2 Adjusted EBITDA removes  unrealized gains/losses on derivative  instruments 
and foreign exchange gains/losses
^3 Adjusted  earnings  (loss)  and  adjusted earnings  (loss)  per  share  are 
non-GAAP financial measures which  remove unrealized gains/losses on  interest 
rate swaps and foreign currency gains/losses.
^4 Calculated based on weighted average number of shares outstanding under the
basic method.

                          Summary Financial Results

                                                                          
                       Three months ended December
                                                31,   Year ended December 31,
(CDN$, except for cash           2012          2011         2012         2011
cost data in US$)                   $             $             $            $
                                                                        
Revenues                   50,086,260    44,710,034  229,473,610   66,531,355
Gross profit                6,236,705     5,534,826   38,220,542   16,203,386
Operating income (loss)     4,894,106     2,807,068   31,512,632    7,777,193
Adjusted earnings                                   
(loss)^5                    7,415,999   (1,863,724)    27,932,610    8,613,040
Earnings (loss)                                     
attributable to
shareholders of the
Company                     2,214,713     5,590,703    19,776,352 (12,698,124)
Adjusted earnings per                               
share^6                          0.08        (0.02)          0.28         0.09
Earnings per share^5             0.02          0.06         0.20       (0.13)
                                                                        
Cash and cash                                       
equivalents                                          24,300,790   39,094,343
Working capital                                     11,781,230    7,231,869
Equity                                             244,005,027  213,370,648
                                                                        
Copper produced (lbs)      13,780,000    12,396,968   56,600,000   22,127,640
Gold produced (oz)              5,800         3,834       18,900        7,799
Silver produced (oz)           66,700        84,182      354,000      161,830
                                                                        
Copper sold (lbs)          13,185,000    11,552,512   59,122,000   17,363,352
Gold sold (oz)                  5,200         4,372       19,900        6,466
Silver sold(oz)                71,600        86,431      402,000      131,080
Site cash costs per                                 
pound of copper
produced (net of gold
silver credits) (US$)            1.77          1.11          1.83         1.26
Total cash costs per                                
pound of copper sold
(net of gold silver
credits) (US$)                   2.27          1.94          2.32         1.71

______________________________________
^5 Adjusted  earnings  (loss)  and  adjusted earnings  (loss)  per  share  are 
non-GAAP financial measures which  remove unrealized gains/losses on  interest 
rate swaps and foreign currency gains/losses.
^6 Calculated based on weighted average number of shares outstanding under the
basic method

Copper Mountain Mine

The Copper Mountain Mine produced 57  million pounds of copper, 18,900  ounces 
of gold, and 354,000 ounces of silver which generated $229 million in  revenue 
net of pricing adjustments  for the year ended  December 31, 2012. The  total 
cash cost of copper sold for the year ended December 31, 2012 was US$2.32  per 
pound of copper after gold and silver by-product credits.

Mining activities continued in the Pit #3  area at the beginning of 2012  with 
the push-backs on the  eastern wall. Part way  through the year, the  Company 
relocated two of the production shovels from the Pit#3 area to the Pit #2 area
for the commencement of  mining activities there. During  the year a total  of 
54.9 million tonnes of  material was mined, including  12.5 million tonnes  of 
ore  and  42.5  million  tonnes  of  waste  during  the  year,  resulting   in 
approximately a 3.4 to 1 waste to ore strip ratio. The mine exited 2012  with 
an average mining  rate of  186,250 tonnes of  per day  moved during  December 
2012.

Mill production  was  adversely  affected  during the  year  by  greater  than 
expected tailings line wear, failure of the ball mills motor controls, a  lack 
of clear reclaim water in the tailings management facility, and the  premature 
breakage of SAG mill grates. Following the planned mill maintenance  shutdowns 
throughout the year, the Company  was able to resolve  all of these issues  by 
year end, and in early 2013 the mill achieved for the first time a 93.3% plant
availability, compared to a budgeted 92% availability.

However, the  mill  is  still  experiencing  challenges  meeting  its  tonnage 
throughput  goals  as  a  result  of  the  variability  in  ore  hardness  and 
fragmentation  entering  the  SAG  Mill  from  various  open  pit  locations. 
Management has engaged an  engineering firm to review  the option of adding  a 
secondary crusher  to pre-crush  ore entering  the SAG  Mill to  increase  the 
tonnage throughput. Preliminary  designs for this  secondary crusher  involves 
ore conveyed from the coarse ore stock pile to the new crushing facility where
it would be  crushed to 50%  minus one inch.  Initial estimates indicate  the 
pre-crushing would result in  an expansion to the  grinding capacity and  will 
ensure the mill meets the original design capacity with potential to  increase 
the grinding  capacity  of  the SAG  to  the  40,000 tonnes  per  day  range. 
Preliminary work estimates that the crushing facility would cost approximately
$40 million and would be  funded out of cash flow  or additional debt. It  is 
estimated that the new crushing facility could  be in place by the end of  the 
year subject to necessary  approval to proceed before  the end of April  2013. 
Concurrent with the secondary crusher evaluation, the mine is testing  various 
blasting techniques to improve fragmentation. To date increased blasting  has 
proven to be positive.

During the year, the Company completed a total of thirteen shipments
containing approximately 59.1 million pounds of copper, 19,900 ounces of gold,
and 402,000 ounces of silver which generated $229.5 million in revenue net of
pricing adjustments. Summarized income statement and balance sheet are
provided below.

                           Summarized Balance Sheet
                                                         
                                            December 31,        December 31,
                                                     2012                 2011
Assets                                                                     
Current assets                            $ 61,633,037     $ 68,245,867
Restricted cash                                 6,013,726                   -
Deferred tax asset                              2,896,832                   -
Reclamation bonds                       8,200,500   4,700,500
Property, plant and equipment                 510,382,493         520,051,062
Non-current inventory                          26,887,360           5,540,890
                                         $ 616,013,948     $ 598,538,319
                                                                          
Liabilities                                                                
Current liabilities                            49,851,807          61,013,998
Decommissioning and restoration           6,997,883    5,152,382
provision
Interest rate swap liability               10,980,888      10,610,394
Long-term debt                                304,178,343         308,390,897
                                                                          
                                             372,008,921         385,167,671
Equity                                                                     
Share capital                             157,942,209     157,596,608
Contributed surplus                      9,469,280    6,602,387
Retained earnings (deficit)                     8,748,474   (11,027,878)
                                                                          
Non-controlling interest                      176,159,963          60,199,531
                                                         
Total equity                                  244,005,027         213,370,648
                                          $616,013,948      $598,538,319

                                
                                
                                Summarized Income Statement
                                
                                    Three months ended                       Year ended
                                            December 31,                       December 31,
                          2012                  2011            2012           2011
                               $                       $                 $                $
                                                                               
Revenue                                                                         
                      50,086,260       44,710,034       229,473,610       66,531,355
Cost of sales                                                                   
                    (43,849,555)         39,175,208     (191,253,068)       50,327,969
Gross profit          6,236,705        5,534,826      38,220,542     16,203,386
                                                                               
Other income and                                                       
expenses                                                                               
 General and                                      
  administration       (797,283)               1,686,161       (4,252,973)        4,616,051
 Share based                                             
  compensation         (545,316)               1,041,597       (2,454,937)        3,810,142
Operating income                                                              
(loss)                 4,894,106      2,807,068        31,512,632        7,777,193
                                                                               
Pricing                                                                
adjustments on
concentrate and
metal sales            1,878,416       (335,286)         1,641,593        5,658,400
Finance income          314,886             (490,823)       1,571,489    (1,344,735)
Finance expense     (2,316,055)             5,496,901     (8,388,716)      6,167,288
Deferred income                                                        
and resource tax
recovery               2,896,832                       -         2,896,832                -
Current resource                                                       
tax expense            (252,186)                       -       (1,301,220)        6,167,288
Adjusted earnings                                                      
(loss)^(1)             7,415,999     (1,863,724)        27,932,610        8,613,040
                                                                               
Pricing                                                                
adjustments on
concentrate and
metal sales          (1,878,416)       (335,286)       (1,641,593)      (5,658,400)
Unrealized loss                                                        
(gain) on
interest rate
swap                   (394,705)       1,209,340       (3,654,594)      (9,351,657)
Loss (gain) on                                                         
foreign exchange     (2,745,112)          9,088,280         4,785,462      (8,282,454)
Net income (loss)                                                      
and comprehensive
income (loss) for
the period             2,397,776               8,098,610        27,421,885     (14,679,471)
                                                                               
Net income (loss)                                                      
and comprehensive
income (loss)
attributable to:                                                                       
 Shareholders of                                                      
  the Company          2,214,713               5,590,703        19,776,352     (12,698,124)
 Non-controlling                                                      
  interest               183,053         2,507,907         7,645,533      (1,981,347)
                     2,397,776             8,098,610      27,421,885   (14,679,471)
                                                                               
Earnings (loss)                                                        
per share                   0.02                    0.06              0.20           (0.13)
Adjusted earnings                                                      
(loss) per share            0.07                  (0.02)              0.28             0.09
                                                                               
Weighted average                                                       
shares
outstanding           98,519,596              98,421,909        98,519,596       97,347,637
Shares                                                                 
outstanding at                                                                    
end of period         98,570,927         98,466,877        98,570,927       98,466,877

^(1) Adjusted earnings (loss) is a non-GAAP financial measure which removes
unrealized gains/losses on derivative instruments, changes in fair/value of
financial instruments, foreign currency gains/losses and non-recurring
transactions

   The full set of financial statements and accompanying MD&A are posted on
                                  Sedar.com.

Copper Mountain will host a conference call on Monday, March 18, 2013 at 10:30
a.m. Eastern Time (7:30 a.m. Pacific) to discuss these results. The conference
call may be accessed by dialing:

Live Dial-in information
Vancouver and international:(416) 764-8609
North America (toll-free):(888) 390-0605
To participate in the webcast live via your computer go to: :
http://www.newswire.ca/en/webcast/detail/1128023/1230361

Replay call information
Vancouver and international:416-764-8677, passcode 616516
North America (toll-free): 1-888-390-0541, passcode 616516
The conference call replay will be available from 10:30am (PST) on March 18,
2013, until 11:59 pm PST on March 26, 2013
Participant audio webcast will also be available on the company's website
http://www.cumtn.com

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 Company has  a 
strategic  alliance  with  Mitsubishi  Materials  Corporation  who  owns   the 
remaining 25%. The Copper Mountain mine commenced production in the summer  of 
2011, and  has  continued to  improve  its  operations during  the  year;  and 
attained design capacity in  the summer of  2012. The 18,000  acre site has  a 
resource of  approximately  5  billion  pounds  of  copper  and  remains  open 
laterally and at depth.  The mine has  significant exploration potential  that 
will need to  be explored  over the  next few  years to  fully appreciate  the 
properties full development potential. Additional information is available on
the Company's web page at www.CuMtn.com.

On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION

"Rod Shier"

Rodney A. Shier, CA.
Chief Financial Officer

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

Contact:

Galina Meleger, Corporate Communications 604-682-2992 ext.224 Email:Galina
@CuMtn.com or
Rod Shier, Chief Financial Officer 604-682-2992 ext.222 Email:Rod@CuMtn.com

Website:www.CuMtn.com