Copper Mountain Mining : Announces Positive Q2 2015 Results

Telephone: (604) 682-2992

Facsimile: (604) 682-2993

Web Site: www.CuMtn.com

This release should be read with the unaudited financial statements and management's discussion and analysis available at www.cumtn.comand 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.

30, 2015 was US$1.81 per pound of copper sold, net of precious metals credits.

 Copper, gold and silver production for the second quarter of 2015 at Copper Mountain Mine (100%) was 19.5 million pounds of copper, 7,800 ounces of gold and 71,100 ounces of silver.
 Revenues for the second quarter of 2015 were $56.8 million from the sale of 18.4 million pounds of copper, 6,300 ounces of gold, and 66,700 ounces of silver, net of pricing adjustments.
 Adjusted earnings were $3.5 million for the quarter.
 Cash flow from operations was $15 million for the quarter.
 Cash on hand at the end of the quarter was $22.4 million, an increase of $7 million over the first quarter ending cash position.

 Mine production continued at a mining rate of 167,000 tpd moved.

 In early April 2015, the SAG mill achieved an all time daily throughput record of 45,939 tpd.
 Site cash costs for the quarter were in-line with expectations at US$1.36 per pound of copper produced net of precious metal credits.

 Total cash costs for the quarter were in-line with expectations at US$1.81 per pound of copper sold net of precious metal credits and after all off-site charges.

 Realized prices on metal sales for Q2 2015 were US$2.74 per pound of copper, US$1,196 per ounce of gold and US$16.41 per ounce of silver.

Jim O'Rourke, President and CEO of Copper Mountain, remarked "Cost reductions and increased production are our continued focus. The disciplined dedication to our goals is reflected in the increased operating performance and the reduced costs achieved in the second quarter. This continuing drive for improvements at the mine is positioning the Company well to weather current global market conditions. In addition, Copper Mountain's bottom line continues to benefit from a weaker Canadian dollar relative to the U.S. dollar, as approximately 88% of the Company's operating costs have a Canadian dollar cost basis".
Mr. O'Rourke continued, "Copper Mountain Mining generated positive free cash flow during the second quarter, helped by increased productivity and lower costs. In keeping with this trend, no major capital expenditures are planned for the second half of 2015 and production improvements are expected to continue through to the end of the year".

During the quarter, the company completed three shipments of concentrate containing approximately 18.4 million pounds of copper,
6,300 ounces of gold, and 66,700 ounces of silver to Japan for smelting and recorded revenues, net of smelter charges and pricing adjustments, of $56.8 million, realizing a gross profit of $1.2 million. The total cash cost of copper sold for the quarter ended June 30,
2015 were in-line with expectations at US$1.81 per pound of copper net of gold and silver by-product credits as a result of ongoing cost cutting measures taken at the mine site.
During the quarter, mining activities continued in the Pit 2 area where the majority of the ore will be mined from for the balance of 2015. At the same time the Company continued with the Phase 3 pushback on the west side of Pit 3. Copper head grade for the year is forecasted to be on average 0.33% copper or approximately 0.41% copper equivalent. During the quarter a total of 14.2 million tonnes of material was mined, including 5.7 million tonnes of ore and 8.5 million tonnes of waste, realizing a strip ratio of 1.48. The mining rate at the end of the period was in the range of 167,000 tpd moved. As a result of cost cutting measures taken early in the year site cash costs were in-line with expectations at US$1.36 per pound of copper after gold and silver by-product credits.
Mill throughput from the concentrator continued to improve month-over-month, averaging 35,600 tpd during the second quarter, which was an improvement of approximately 7% during the quarter as compared to the first quarter of 2015. This is a milestone for the operation as it was the first time that the concentrator has exceeded design capacity of 35,000 tpd for an entire quarter. This improvement continued into July 2015, as throughput averaged 39,100 tpd for the month, thus providing management with confidence that the targeted rate of 37,500 tpd is achievable on a consistent basis. This increase in throughput is directly attributable to the installation of the secondary crusher and mine site management's ability to optimize the crushing and grinding circuit.

During the quarter the mill processed a total of 3.2 million tonnes of ore at an average grade of 0.33% copper to produce 19.5 million pounds of copper, 7,800 ounces of gold, and 71,100 ounces of silver. SAG Mill availability was 90.7% during the second quarter as a result of planned maintenance during the period. Copper recovery averaged 82.4%, which was in-line with the Company's plans.

1 Adjusted earnings (loss) is a non-GAAP financial measure which removes unrealized gains/losses on interest rate swaps, pricing adjustments on concentrate metal sales and foreign currency gains/losses.

2 Calculated based on weighted average number of shares outstanding under the basic method based on adjusted earnings.

The following table sets out the major operating parameters for the mine for the three and six months ended June 30, 2015.

Mine Production Information Three months ended

Copper Mountain Mine (100% Basis) 2015 2014 2015 2014

Mine:

Mill:

Production:

3 Excludes ore re-handle from stockpile

4 Tonnes per day

Listed below is a summarized balance sheet and income statement as well as details for our conference call schedule:

Assets

Cash

Accounts Receivable and prepaids

Inventory

Property, plant and equipment

Other Assets

Liabilities

Current liabilities

Decommissioning and restoration provision

Interest rate swap liability

Long-term debt

Deferred tax liability

Equity

Share capital Contributed surplus Retained earnings (deficit) Non-controlling interest Total equity

(CDN$)

$ $ $ $

General and administration (2,277,062) (1,286,649) (4,227,894) (2,914,311) Share based compensation (258,457) (1,370,110) (583,198) (2,776,670)

Pricing adjustments on concentrate and metal sales 6,165,574 (5,781,614) 8,046,014 4,083,319
Finance income 85,915 134,276 199,137 156,987

Pricing adjustments on concentrate and metal sales (6,165,574) 5,781,614 (8,046,014) (4,083,319) Unrealized gain (loss) on interest rate swap 366,359 (1,573,046) (1,624,829) (2,504,940) Unrealized gain (loss) on foreign exchange 5,194,660 10,892,794 (27,049,297) (654,300) Net Income (loss) comprehensive income (loss) for the

Shareholders of the company 1,642,018 9,458,355 (22,326,017) (2,695,985) Non-controlling interest 1,229,957 3,849,497 (6,605,242) 384,045

2,871,975 13,307,852 (28,931,259) (2,311,940)

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

As part of efforts to minimize capital expenditures during the period of lower copper prices, exploration activities at the mine site during the quarter were limited to a continuation of geotechnical mapping and compilation of geological data. In addition three dimensional computer assisted modelling of the dykes and other geological zones were carried out. Planning and optimization of drill hole placement and orientation for deep drilling in the Pit 3 area was undertaken and integration of the recently completed magnetic survey inversion with deep penetration induced polarization data for the purposes of defining blind exploration targets was continued.

During the quarter the Company issued an updated 43-101 report for the mine, including a ten year production forecast. Over the next ten years it is anticipated that the mine grade will average 0.43%Cu equivalent grade. Production rates will be set each year as part of the annual budgeting process.

5 Cost of sales consists of direct mining and milling costs (which include mine site employee compensation and benefits, mine site general and administrative costs, non-capitalized stripping costs, maintenance and repair costs, operating supplies and external services), depreciation and offsite transportation costs.

6 Adjusted earnings (loss) is a non-GAAP financial measure which excludes unrealized gains/losses on derivative instruments, changes in fair value of financial

instruments, foreign currency gains/losses, pricing adjustments related to metal sales and non-recurring transactions.

Upgrading of inferred resources to reserve status with additional drilling has been very successful and is the major goal of the long-term exploration plan. Discovery of new mineralized areas continues as a focus of the on-going exploration program; however, exploration activities will be sensitive to copper price.

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 latter half of 2011, and has continued to improve its operations. The key development for 2014 was the installation of the secondary crusher as a permanent solution to maximize concentrator throughput and improve overall efficiencies for the company. Secondary crusher construction was completed by the end of July 2014 on budget and on schedule. The 18,000 acre site has a large resource of copper that 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 property's full development potential. Additional information is available on the Company's web page at www.CuMtn.com.

A conference call and webcast will be held on Monday August 10th, 2015 at 7:30 am (Pacific Daylight Time) for management to discuss the results. This discussion will be followed by a question-and-answer period with investors.

Toronto and international: 416-764-8688
North America (toll-free): 888-390-0546
To participate in the webcast live via your computer go to: http://www.newswire.ca/VmoA8

Toronto and international: 416-764-8677, passcode 290698
North America (toll-free): 888-390-0541, passcode 290698
The conference call replay will be available from 10:30 am (PST) on August 11, 2015, until 11:59 pm PST on August 24, 2015

Participant audio webcast will also be available on the company's website http://www.cumtn.com

On behalf of the Board of

"Rod Shier"

Rodney A. Shier, CA. Chief Financial Officer

Betty LeBlanc, BA, MBA, Investor Relations 604-682-2992 ext. 238 Email: Betty@cumtn.com

Rod Shier, Chief Financial Officer 604-682-2992 ext.222 Email: Rod@CuMtn.com

Website: www.CuMtn.com

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.

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