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    CMMC   CA21750U1012

COPPER MOUNTAIN MINING CORPORATION

(CMMC)
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Copper Mountain Mining Corporation Announces Continued Positive Drill Results At the New Ingerbelle Copper-Gold Open Pit

01/20/2022 | 12:18am EDT

Copper Mountain Mining Corporation announced positive results from an additional 10 diamond drill holes, totaling 4,178 metres, as part of the ongoing exploration program at the New Ingerbelle copper-gold open pit ("New Ingerbelle"). The drill program continues to intersect significant widths of high-grade mineralization below, and adjacent to, the current reserve pit. New Ingerbelle is situated one kilometre from the Copper Mountain Mine main pit. The Copper Mountain Mine is in southern British Columbia, near the town of Princeton. Drill Program: The ten drill holes are in the central and western parts of the deposit and have been successful to date in testing the extent and continuity of mineralization at depth and westward below an interpreted, ore-bounding thrust fault. Mineralization remains open below the thrust fault and further drilling will be required to determine the western extent of the deposit. Mineralization at New Ingerbelle consists of disseminated and fracture-controlled sulphide mineralization and exhibits a strong continuity over hundreds of metres of vertical extent. Geology, alteration intensity and copper/gold ratios appear to be relatively consistent over the vertical extent of the mineralization. The Company is continuing to drill at New Ingerbelle, with two diamond drills on site. The current program consists of approximately 27,000 metres of diamond drilling and is expected to be completed in the first quarter of 2022. The Company plans to incorporate the results of the 2021-2022 drill program into an updated Mineral Reserves and Mineral Resources estimate, which will in turn support a new "Life of Mine Plan" which is expected to be published in mid-2022. New Ingerbelle is a past producing open pit that was discovered and developed in the late 1960s with mining taking place between 1972 and 1980. Copper Mountain started exploration drilling at New Ingerbelle in 2017. New Ingerbelle's current Mineral Reserve estimate as of January 1, 2021, is 191 million tonnes grading 0.24% Cu, 0.15 g/t Au and 0.48 g/t Ag, containing 1.0 billion lb Cu, 916k oz Au and 2.9 million oz Ag .


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Financials
Sales 2022 467 M 362 M 362 M
Net income 2022 43,5 M 33,7 M 33,7 M
Net Debt 2022 176 M 136 M 136 M
P/E ratio 2022 11,2x
Yield 2022 -
Capitalization 484 M 375 M 375 M
EV / Sales 2022 1,41x
EV / Sales 2023 1,55x
Nbr of Employees 461
Free-Float 78,6%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 2,29 CAD
Average target price 4,96 CAD
Spread / Average Target 117%
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Managers and Directors
Gilmore Clausen President, Chief Executive Officer & Director
Rodney A. Shier Chief Financial Officer
Edward C. Dowling Chairman
Edward Richard Klue Vice President-Technical Services
Don Strickland Chief Operating Officer
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