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2008 drill program increases Copper Mountain Resources by 20% as project continues to move forward
Thursday, February 26, 2009 8:00 AM


VANCOUVER, Feb. 26 /CNW/ - Copper Mountain Mining Corporation ("CMMC" or the "Company) announces that with the completion of the 63,000 m drill program in 2008, the Copper Mountain Project resources have significantly increased from the previously reported December 2007 National Instrument 43-101 resources estimate. Highlights of this new resource are:

-   Measured and Indicated Resources:
    -  302.4 Million tons grading 0.37% Cu at 0.20% Cu cut-off.
    -  At a 0.20% cut-off, tonnage increased from the previous estimate
       by 16.2% or 42.2 million tons at a grade of 0.39% Cu providing an
       increase of 362 million pounds copper, or 20% of the contained
       copper.
    -  At a 0.15% Cu cut-off, the increase is 69 million tons with
       454 million additional pounds of copper for a 20.4% increase in
       contained copper.
-   Inferred Resources:
    -  207.8 Million tons grading 0.28% Cu at 0.20% Cu cut-off.
    -  Tonnage increased by 26.7% or 43.8 million tons at the 0.20% Cu
       cut-off, resulting in an increase of 204 million pounds of
       contained copper.
-   Gold and silver grades are not available from the historical drill
    data but historical production records indicate that approximately
    12% of the concentrate value was from silver and gold credits. Data
    from the current exploration program, which has had gold and silver
    assays, indicates similar precious metal grades but at current metal
    prices the value of precious metals within the concentrate would be
    23%.
-   Contained copper in the M&I resource categories at the 0.15% cut-off
    is 2.7 billion lbs of copper with an additional 1.9 billion lbs of
    copper in the inferred category for a total of 4.6 billion pounds of
    copper. The total exploration cost of discovery for the additional
    copper is slightly above 1 cent/pound of copper.
-   Deposit remains open in most directions, especially at depth, where
    current drilling has intersected higher grade material.

The resource estimate incorporates data from over 4,400 historical drill holes totalling approximately 400,000 metres, and 370 new drill holes, totalling 107,000 metres from the 2007 and 2008 exploration programs. It is anticipated that subsequent resource estimates will be completed in the future as many of the mineralized areas are still open in most directions and a number of geophysical targets still remain to be drill-tested.

Mr. O'Rourke, President and CEO stated, "I am extremely pleased with the success rate of our 2008 exploration program which was one of the largest drill exploration programs in British Columbia. The increased tonnage and grade in the resource should result in a longer mine life and increased copper production from the operation, which should enhance the project economics"

The resource estimated was prepared by Giroux Consultants Ltd.



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