American CuMo Mining Corporation
TSX VENTURE : MLY
OTCQX : MLYCF

American CuMo Mining Corporation

August 19, 2013 16:13 ET

American CuMo Mining Corporation: US Forest Service Supplemental Environmental Assessment Paves Way for Completion of Strategic Metals Exploration in Idaho

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 19, 2013) - American CuMo Mining Corporation (CuMoCo) (TSX VENTURE:MLY)(OTCQX:MLYCF) is pleased to announce that the U.S. Forest Service (USFS) has released its Supplemental Environmental Assessment (EA) regarding the CuMo Exploration Project. The report, issued August 15, 2013, follows the Forest Service's 2011 Decision Notice and Finding of No Significant Impact and will enable fulfillment of a federal judge's order to carry out studies necessary for completion of the exploration phase of the CuMo Project's large strategic metals asset in Idaho.

The new report demonstrates that by following proper procedures, the exploration program can avoid or mitigate groundwater quality impacts - a key consideration for the federal district court.

The Supplemental EA study resulted from an August 2012 decision rendered by Federal District Court Judge, Edward Lodge, in response to litigation filed by environmental groups challenging the U.S. Forest Service's Environmental Assessment process and its Finding of No Significant Impact relative to the CuMo Exploration Project. While Judge Lodge affirmed the Forest Service process and denied four of the five claims in the litigation, the fifth claim regarding deficiencies in groundwater analysis was remanded to the USFS for further clarification.

"While the 2011 EA did include groundwater data related to the CuMo Project exploration, it needed to be presented in a more comprehensive manner in the document prepared by the Forest Service," said Shaun Dykes, Chief Executive Officer of CuMoCo. "In addition, more current information was presented on wildlife and plant resources within the study area so that this assessment will be an up-to-the-minute analysis."

The release of the Supplemental EA begins a 30-day public comment period, beginning August 20 and ending Sept. 18, 2013. The USFS is in charge of that process.

The Forest Service's response to the court focuses on the following subject areas:

  • Deeper analysis directed by the court on potential impacts to groundwater quality;
  • Additional reporting required by the court addressing mitigation and monitoring measures;
  • An update to changes in status of the wolverine and gray wolf under the Endangered Species Act;
  • Additional monitoring information performed in 2011 and 2012 on the great gray owl and northern goshawk;
  • Rare plant inventories performed on Sacajawea's bitterroot;
  • Additional narrative about the CuMo Project's Comprehensive Plan of Operation and Best Management Practices Checklist concerning approved temporary roads and drill pad construction and reconstruction.

In February 2013, the USFS determined to address Judge Lodge's decision in a supplemental addendum to the original EA. The report clarifying groundwater assessment is the culmination of the efforts of the USFS and Enviroscientists (http://enviroincus.com), an independent third-party contractor that performed the work.

"We are pleased with the extraordinarily high level of effort the USFS put into its rigorous environmental review," said Dykes "They left no stone unturned and held us to the highest standards. That fits perfectly with this company's commitment to environmental excellence. The release of the Supplemental EA is positive step in a transparent and ongoing public process."

CuMoCo has been conducting scientific exploration of the CuMo Project since 2004 and relies on scientific methodology and best mining practices in every facet of research and development. Corporate leadership believes the outcome of the USFS EA studies will affirm that the CuMo Project can proceed with full and complete exploration - with little impact to the environment and a substantial positive impact on the economy.

"CuMoCo has once again demonstrated its commitment to a strong working relationship with the USFS and the communities of Idaho," said Dykes. "Our industry-leading environmental practices are dedicated to advancing this vital exploration program."

"With the cooperation of the USFS, best management practices and vital support of the community, the CuMo Project should be advanced," said Dykes. "As CuMoCo works through the environmental assessments, we believe we will be able to reach our goal of bringing thousands of jobs to Idaho and billions of dollars of construction and development spending to Idaho."

To review and comment on the USFS Supplemental EA, please go to www.CuMoProject.com.

ABOUT AMERICAN CUMO MINING CORPORATION

American CuMo Mining Corporation is a mining exploration and development company with a diverse portfolio of high potential precious and base metals projects, located in low political risk environments in North America. The Company's primary focus is developing its Idaho-based CuMo Project, one of the world's largest molybdenum deposits. For more information about the Company, please visit www.cumoco.com and www.cumoproject.com.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

Forward-looking information

This release contains "forward-looking information" within the meaning of applicable Canadian securities legislation including, but not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the Company's current funding, and funds to be received from equipment sales, being sufficient to fund 2013 work programs at the CuMo project and corporate development.

Often, but not always, forward-looking information can be identified by the use of words such as "expects", "estimates", "potential", or "believes" or describes a "goal" or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved.

Forward-looking information is based on a number of material factors and assumptions, including the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, that the Court will not intervene with the Company's proposed exploration activities at the CuMo project and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of molybdenum; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

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