American CuMo Mining Corporation
TSX VENTURE : MLY
OTCQX : MLYCF

American CuMo Mining Corporation

October 02, 2013 13:59 ET

CuMo Project Wins Support of Public Officials for Completion of Exploration

Boise County Commissioners and Idaho Department of Commerce weigh in

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2013) - American CuMo Mining Corporation (CuMoCo) (TSX VENTURE:MLY)(OTCQX:MLYCF) is pleased to announce that the Boise County Board of County Commissioners and the Idaho Department of Commerce have expressed support for the completion of the exploration phase of the CuMo Project in written comments submitted during a Supplemental Environmental Assessment (SEA) public comment process being conducted by the U.S. Forest Service. Letters submitted to the U.S. Forest Service (USFS) advocate for the advancement of Idaho CuMo Mining Corporation's eight-year scientific study of the Boise County, Idaho molybdenum deposit.

Throughout part of August and September, community members have had the opportunity to attend public meetings hosted by the USFS to learn more about the current SEA and to submit comments regarding the CuMo Exploration Project. After attending the open houses in Southwest Idaho, Boise County Commissioners submitted a letter in support of the Project. The letter also contained some suggested operational considerations.

Signed by all three Boise County Commissioners - Commissioner Jamie Anderson, Commissioner Vicki Wilkins and Chairperson Barbara Balding - the letter stated, "Many citizens of Boise County expressed their desire to return to a natural resource based economy, therefore allowing the exploration of the CuMo Project is encouraged. Boise County wants to find the best solutions for all of our citizens."

Letters of support from the Boise County Commissioners and Idaho Department of Commerce are available at www.cumoproject.com.

The SEA, which was developed by USFS, resulted from an August 2012 decision rendered by Federal District Court Judge Edward Lodge in response to litigation by environmental groups. Those groups challenged the USFS's Environmental Assessment (EA) process and its Finding of No Significant Impact relative to the CuMo Exploration Project. Judge Lodge affirmed the Forest Service process and denied four of the five claims in the environmental groups' lawsuit. He directed that the federal agency to perform additional environmental evaluation on groundwater issues within the area under review.

"While the process has been time consuming and costly, we believe the Supplemental Environmental Assessment completes a comprehensive review of the company's activities and fulfills commitments to date," said Shaun Dykes, CEO of CuMoCo. "We are pleased to demonstrate that we are and will continue to be good neighbors and vigilant stewards of the environment."

CuMoCo and its subsidiary, Idaho CuMo Mining Corporation (ICMC), believe that if scientific research supports an economically viable project, the CuMo Project could create thousands of high-paying jobs. CuMo Project team leaders are employing scientific methodology and best practices in every facet of project research and development.

The public comment period concluded on September 18, 2013. Leadership is confident that all matters have been thoroughly researched and mitigating actions have been outlined in detail. CuMo Project leaders will continue to work with USFS to support the agency's completion of the SEA process. The company believes the SEA should be approved and exploration activities resumed.

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.

On behalf of the Board of Directors of American CuMo Mining Corporation

Shaun Dykes, Chief Executive Officer

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 news 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 CuMoCo expects or anticipates will or may occur in the future, such as the CuMoCo's ability to move its CuMo project to feasibility and production, and to become one of the largest and lowest-cost molybdenum producers in the world as well as a significant producer of copper and silver. Forward-looking information is based on a number of material factors and assumptions, including the result of exploration activities, the ability of CuMoCo to raise the financing for a feasibility study and to put the CuMo project into production, that no labour shortages or delays are experienced, that plant and equipment function as specified that the Court will not intervene with CuMoCo's proposed exploration activities at the CuMo project, and the ability of CuMoCo to obtain all requisite permits and licenses to bring the CuMo project into production. 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 prediction, projection or forecast 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, silver and copper; possible variations in grade or recovery rates; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing, as well as those factors disclosed in CuMoCo's publicly filed documents. 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, CuMoCo undertakes no obligation to publicly update or revise forward-looking information.

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