AQM Copper Announces Completion of Mitsubishi Materials Investment in Zafranal

AQM Copper Announces Completion of Mitsubishi Materials Investment in Zafranal 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/16/13 -- AQM
Copper Inc. (TSX VENTURE:AQM)(BVL:AQM) ("AQM " or the "Company") is
pleased to announce the completion of the transaction with Mitsubishi
Materials Corporation ("MMC") as announced in the Company's press
release of July 2, 2013. MMC has invested US$22.60 million and
committed an additional US$15.07 million to acquire a 40% interest in
the Company's Peruvian subsidiary Minera AQM Copper Peru S.A.C.
("MAQM"). MAQM owns the Company`s share of the Zafranal Project in a
50/50 joint venture company, Compania Minera Zafranal ("CMZ"),
between MAQM and Teck Resources Limited. This investment results in
MMC and AQM having indirect interests of 20% and 30% respectively, in
the Zafranal Project in southern Peru. 
The Company and MMC have entered into a joint venture shareholders'
agreement pursuant to which MMC and the Company will proportionately
contribute to MAQM's 50% interest in the Zafranal Project. All major
decisions regarding MAQM and the ongoing development of the Zafranal
Project will require the approval of both MMC and the Company. During
the initial carried period where MMC has agreed to fund the
additional US$15.07 million, MMC will have a casting vote on all
major decisions.  
The investment of US$37.67 million is expected to more than cover
MAQM's share of the anticipated costs of the proposed Pre-Feasibility
and Feasibility Studies for the Zafranal Project (subject to approval
by the shareholders of CMZ to initiate such studies). AQM's share of
the costs related to such studies will be solely funded from MMC's
initial US$22.60 million investment, which is expected to result in
the Company holding effectively a carried interest in the Zafranal
Project through to a production decision.  
Following the carried period, each of MMC and the Company will be
required to fund their pro rata share of programs and budgets, or
will be subject to dilution. 
Mr. Bruce Turner, President and CEO of AQM stated, "We are excited to
have this funding in place and to be associated with such a strong
partner that is fully aligned with AQM's goal to develop the Zafranal
Bruce Turner, President and CEO 
ABOUT AQM Copper: AQM Copper Inc. is a Canadian based mineral
exploration company exploring and developing copper deposits in South
America. Through its Peruvian subsidiary, Minera AQM Copper Peru
S.A.C., the Company is developing the Zafranal Copper-Gold Porphyry
Project located in Southern Peru. Minera AQM Copper Peru S.A.C. is
the operator of a 50/50 Joint Venture with Teck Resources Limited
through a sole purpose Peruvian company, Compania Minera Zafranal.  
The Company published a favourable independent Preliminary Economic
Assessment ("PEA") in January 2013 which calculated a NI 43-101
compliant Measured and Indicated Resource of 557.2 Mt grading 0.36%
Cu and 0.07 g/t Au. The PEA was completed by Tetra Tech WEI Inc.,
("Tetra Tech"), and contains production parameters, capital costs,
operating costs, pre-tax and post-tax financial projections for an
open pit mine processing 80,000 t/d of mill feed and a leach
operation based on the treatment of approximately 20,000 t/d of oxide
and secondary sulphide material. Using long-term forecasted copper
and gold prices of US$3.00/lb and US$1,274/oz respectively; and an
initial capital cost of US$ 1,520 million, the Project is projected
to yield a post-tax Net Present Value at 8% discount rate, of US$ 588
million and an internal rate of return (IRR) of 17.4%. The valuation
is based on 100% of the Project and 100% Equity. The reader should be
aware that the preliminary economic assessment is preliminary in
nature, and includes inferred mineral resources that are considered
too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral
reserves. The reader should also be aware that there is no certainty
that the results forecast in the preliminary economic assessment will
be realized. Mineral resources that are not mineral reserves do not
have demonstrated economic viability. 
The Company's management and directors have extensive experience
working for the world's largest mining copper producers and
investment banking backgrounds. Please refer to the Company's website
at, for further information regarding the Company
and the Zafranal Project. 
Except for statements of historical fact relating to AQM Copper Inc.,
certain information contained herein constitutes "forward-looking
statements". Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or
conditions, or include words such as "expects", "anticipates",
"plans", "believes", "considers", "intends", "targets", or negative
versions thereof and other similar expressions, or future or
conditional verbs such as "may", "will", "should", "would" and
"could". We provide forward-looking statements for the purpose of
conveying information about our current expectations and plans
relating to the future and readers are cautioned that such statements
may not be appropriate for other purposes. By its nature, this
information is subject to inherent risks and uncertainties that may
be general or specific and which give rise to the possibility that
expectations, forecasts, predictions, projections or conclusions will
not prove to be accurate, that assumptions may not be correct and
that objectives, strategic goals and priorities will not be achieved.
These risks and uncertainties include but are not limited to those
identified and reported in AQM Copper Inc's public filings, which may
be accessed at Other than as specifically required by
law, we undertake no obligation to update any forward-looking
statement to reflect events or circumstances after the date on which
such statement is made, or to reflect the occurrence of unanticipated
events, whether as a result of new information, future events,
results or otherwise.
Pinnacle Capital Markets LTD.
Spyros P. Karellas
Investor Relations
(416) 433-5696 or (416) 800-8921
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