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TSX : CMMC | ASX : C6C HIGHLIGHTS ● ● Vancouver , British Columbia - November 1 , 2021 - Copper Mountain Mining Corporation ( TSX : CMMC | ASX : C6C ) ( the " Company " or " Copper Mountain " ) announces strong third quarter 2021 financial and operating results . All currency is in Canadian dollars , unless otherwise stated . All results are reported on a 100 % basis . The Company's Financial Statements and Management's Discussion & Analysis ( " MD & A " ) are available at www.CuMtn.com and www.sedar.com . ● ● ● COPPER MOUNTAIN ● ● MINING CORPORATION Copper Mountain Mining Announces Q3 2021 Financial Results CuMtn.com Production in the third quarter of 2021 was 26.3 million pounds of copper equivalent ( comprised of 22.4 million pounds of copper , 7,449 ounces of gold , and 134,987 ounces of silver ) . C1 cash cost ( ¹ ) per pound of copper produced in the third quarter of 2021 was US $ 1.50 , all - in sustaining cost ( AISC ) ( 1 ) per pound of copper was US $ 1.77 , and all - in cost ( AIC ) ( ¹ ) per pound of copper was US $ 2.17 . Revenue for the third quarter of 2021 was $ 137.2 million from the sale of 24.4 million pounds of copper , 8,308 ounces of gold , and 142,128 ounces of silver , net of pricing adjustments . Gross profit for the third quarter of 2021 was $ 66.6 million . Net income was $ 25.8 million , or $ 0.08 on a per - share basis , and adjusted net income ( ¹ ) was $ 41.4 million , or $ 0.20 on a per share basis ( ¹ ) . Cash flow from operations for the third quarter of 2021 was $ 90.9 million , or $ 0.43 on a per - share basis ( ¹ ) . Cash at the end of the third quarter of 2021 was $ 199.4 million , which included restricted cash of $ 16.1 million . Commissioning of the third ball mill commenced at the Copper Mountain Mine , with the objective to increase plant milling capacity to 45,000 tonnes per day from 40,000 tonnes per day and improve recovery performance . Exploration success continued with the Company doubling the vertical extent of mineralization at New Ingerbelle in B.C. and identifying three major mineralized zones at Cameron Copper in Australia . ( 1 ) The Company reports the non - GAAP financial measures of C1 cash costs , AISC and AIC per pound of copper , adjusted net income , adjusted net income per share , and cash flow per share to manage and evaluate its operating performance . See " Cautionary Note Regarding Non - GAAP Performance Measures " . " We continued to deliver strong operating metrics and impressive operating cash flow , " commented Gil Clausen , Copper Mountain's President and CEO . " With a healthy and increasing cash position , we are on track to advancing our organic growth objective of tripling 2020 production within the next five years , while maintaining a solid balance sheet . Our Net Debt to trailing twelve - month EBITDA ( ¹ ) continues to improve , reaching 0.6 at the end of the quarter . " Mr. Clausen added , " In the third quarter , we completed the first step in our multi - tier growth plan with the successful installation of Ball Mill 3 at the Copper Mountain Mine . The next tier of growth is the Eva Copper Project , where 700 West Pender St. , Suite 1700 | Vancouver , BC V6C 1G8 | T : ( 604 ) 682-2992 1