Vancouver, B.C., January 20, 2016: American CuMo Mining Corporation (“CuMoCo” or the “Company”) (TSXV: MLY; OTC-Pink: MLYCF) has been notified that anti-development environmental groups filed a lawsuit against the United States Forest Service (USFS) regarding the recent granting of permits to CuMoCo to perform work on the CuMo Project property. The Company considers the lawsuit which was filed with the U.S. District Court in Idaho on January 15, 2016 to be frivolous and redundant.
At the time of this news release, the lawsuit has not been served on the USFS, and until it has, the Company will make only limited comments. However, the Company is compelled to respond to all misleading media coverage of the suit. The Company emphasizes that the lawsuit does not request an injunction to stop work on the CuMo Project. Any coverage purporting otherwise is speculative.
Furthermore, the current allegations regarding the plant species “Sacajawea’s Bitterroot” were addressed within the previous lawsuit, whereby Judge Lodge ruled that USFS’s analysis of the Sacajawea’s Bitterroot did not violate NEPA. In the previous lawsuit the court only directed that additional analysis of potential impacts on groundwater from the drilling activities be conducted and USFS has fulfilled exactly what the court required.
CuMoCo considers this to be a frivolous attempt to create concern within the community and for significant investors. Additionally, the news release regarding the lawsuit was timed strategically to disrupt coverage of the Company’s major positive news announcement about the boost in economic outlook for the Project due to Ore-Sorting technology.
If the suit is not served within 90 days of the filing date, it will be dismissed. CuMoCo management will continue to keep shareholders apprised of developments with the project and the lawsuit.
CuMoCo is focused on advancing its CuMo Project towards feasibility and establishing itself as one of the largest and lowest-cost molybdenum producers in the world as well as a significant producer of copper and silver. Management is continuing to build an even stronger foundation from which to move the Company and the CuMo Project forward. For more information, please visit and www.cumoproject.com
For further information, please contact:
American CuMo Mining Corporation
Shaun Dykes, President and Chief Executive Officer
Tel: (604) 689-7902
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.
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 the Company expects or anticipates will or may occur in the future, such the Company’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 the Company 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 the Company’s proposed exploration activities at the CuMo Project, and the ability of the Company to obtain all requisite permits and licenses to advance the CuMo Project and eventually bring it 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 the Company’s publicly filed documents, including the Company’s Management’s Discussion and Analysis for the period ended September 30, 2015. 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.