American CuMo Mining Announces Significant Intersections at CuMo Project

Vancouver, B.C., May 7, 2013: American CuMo Mining Corporation (TSXV: MLY, OTCQX: MLYCF), (formerly Mosquito Consolidated Gold Mines Limited) (“CuMoCo”) is pleased to report excellent results from its 2012 diamond drilling program for its Idaho-based molybdenum/copper CuMo Project.

A total of 4,700 meters (15,463 feet) was drilled in nine (9) holes. Holes were located on the extremities of the deposit and as infill to improve resource confidence. The results confirmed the established geological model and also the excellent grade continuity of the mineralized zones. Hole locations are shown in figure 1 and detailed results are contained in table 1 attached.

Highlights from the drilling include:

INTERIOR HOLES
Hole 64-12 271.3 meters (890.0 feet) grading 0.122% MoS2(0.64% Cu Eq., 0.149% MoS2 Eq., 2.69 lbs MoO3 Eq/t)
Hole 67-12 323.1 meters (1,060.0 feet) grading 0.116% MoS2(0.62% Cu Eq., 0.145% MoS2 Eq., 2.60 lbs MoO3 Eq/t)
Hole 68-12 271.3 meters (890 feet) grading 0.101% MoS2(0.56% Cu Eq., 0.131% MoS2 Eq., 2.35 lbs MoO3 Eq/t)
Also a high grade silver intersection in 68-1215.2 meters (50 feet) grading 262.00 gms /T Ag with 0.2% W.
EXTERNAL HOLES (holes on edges of current resource mainly used for geotechnical information)
Hole 60-12 6.1 meters (20.0 feet) grading 0.207% MoS2(0.98% Cu Eq., 0.229% MoS2 Eq., 4.12 lbs MoO3 Eq/t)AND4.9 meters (20.0 feet) grading 0.147% MoS2 with 34.18 gms Ag/T
(1.52% Cu Eq., 0.355% MoS2 Eq., 6.38 lbs MoO3 Eq/t)
Hole 61-12 238.4 meters (782.0 feet) grading 0.11% Cu, 0.032% MoS2(0.32% Cu Eq., 0.075% MoS2 Eq., 1.34 lbs MoO3 Eq/t)Note: Did not reach Molybdenum bearing zone.
Hole 63-12 4.6 meters (15.0 feet) grading 130.6 gms Ag/T
Hole 66-12 268.5 meters (881.0 feet) grading 0.050% MoS2(0.34% Cu Eq., 0.079% MoS2 Eq., 1.43 lbs MoO3 Eq/t)INCLUDING9.1 meters (30.0 feet) grading 0.096% MoS2

(0.62% Cu Eq., 0.145% MoS2 Eq., 2.60 lbs MoO3 Eq/t)

Note: Hole entering the Molybdenum zone at depth when stopped.

The entire core from all holes was sampled and cut in half using a diamond saw with one-half sent for analysis while the other half has been kept and stored at the core facility located on site. Following cutting, the samples were delivered directly by CuMoCo personnel to either ALS Chemex or SGS Labs, both fully accredited analytical laboratories located in Elko, Nevada. They were first analyzed for 47 elements using a four (4) acid digestion with analysis by Inductively Coupled Argon Plasma Optical Mass Spectrometer (ICP-MS). Copper and Molybdenum bearing samples were then checked by using a larger five gram sample and analyzed using pressed powder pellet X-Ray Fluorescence Spectroscopy (XRF). In addition, duplicates, blanks, and standards were analyzed to ensure analytical accuracy and reproducibility. All rejects are being kept for further analysis and for use in metallurgical testing.

A full summary of the analytical results is outlined below in Table 1. Mineralization consists of copper, molybdenum, silver and rhenium. As a result of the multi-element nature of the mineralization, it was decided to calculate both a copper and molybdenum equivalent for the intercepts. Both equivalents are required as the deposit is zoned as described above. Please see notes below table for explanation of the calculation of copper equivalent (Cu Equiv.), MoS2 equivalent (MoS2 Equiv.). The presence of the by-product elements gold, silver and rhenium is very significant in terms of the development of the property. Note: Due to recent changes in metal prices, the prices used in the equivalent calculation have been changed to $2.1/lb copper, $10/lb molybdenum oxide and 0.96/gram silver.

The table below lists the location and orientation of the current drill holes. All holes are being surveyed down the hole using a Reflex survey instrument.

Hole Easting Northing Elevation dip azimuth Length
Number feet feet feet degrees degrees feet
60-12 218422.5 117559.6 6672 -50 180 1455 completed
61-12 219911.1 118748.9 6549 -75 335 1318 stopped
62-12 218059.4 218059.4 6631 -50 135 1484 completed
63-12 218059.4 218059.4 6631 -60 330 807 stopped
64-12 220813.2 118917.9 6575 -75 025 2139 completed
65-12 218059.4 118670.9 6682 -80 325 1908 stopped
66-12 218059.4 118670.9 6682 -90 000 2241 stopped
67-12 220813.2 118142.9 6782 -70 340 1978 completed
68-12 221745.7 119094.6 6645.3 -70 310 2133.5 stopped

In other news, the branding of the new company is well underway with updated corporate materials and innovative marketing campaigns. Significant discussions are proceeding with groups in North America, Europe and Asia interested in funding the CuMo Project to feasibility.

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Chief Executive Officer and Director of CuMoCo, is the designated qualified person for the CuMo Project, and prepared the technical information contained in this news release.

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

Shaun Dykes
Chief Executive Officer

For further information, contact:
Shaun Dykes, Chief Executive Officer
American CuMo Mining Corporation
Tel: (604) 689-7902
Email: info@cumoco.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 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.

Table 1 Significant Intersections for Hole 60-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
230 250 20 70.10 76.2 6.1 0.98 0.229 4.12 0.02 0.124 0.207 3.72 0.012 3.10
374 390 16 114.00 118.9 4.9 1.52 0.355 6.38 0.11 0.088 0.147 2.64 0.025 34.19
overall 230 390 160 70.10 118.9 48.8 0.35 0.082 1.47 0.02 0.029 0.049 0.88 0.003 5.31

Significant Intersections for Hole 61-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
Copper-moly 400 560 160 121.92 170.7 48.8 0.25 0.058 1.05 0.07 0.018 0.030 0.54 0.005 2.28
Copper-moly 535 1317 782 163.07 401.4 238.4 0.32 0.075 1.34 0.11 0.019 0.032 0.58 0.007 3.03
averages
overall 400 1317 917 121.92 401.4 279.5 0.31 0.072 1.30 0.11 0.019 0.032 0.58 0.007 2.92

Significant Intersections for Hole 63-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
Silver intersection 605 620 15 184.40 189.0 4.6 3.17 0.740 13.31 0.21 0.001 0.002 0.04 0.000 130.60

Significant Intersections for Hole 64-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
Zones feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
Copper-moly 300 990 690 91.44 301.8 210.3 0.37 0.086 1.55 0.10 0.029 0.048 0.86 0.012 2.72
moly 990 1880 890 301.75 573.0 271.3 0.64 0.149 2.69 0.07 0.073 0.122 2.19 0.045 1.61
Msi 1880 2190 310 573.02 667.5 94.5 0.33 0.077 1.39 0.01 0.043 0.071 1.28 0.036 0.41

Significant Intersections for Hole 65-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
zone feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
Copper-moly 550 610 60 167.64 185.9 18.3 0.22 0.051 0.92 0.03 0.023 0.038 0.68 0.014 1.54
Copper-moly 1270 1320 50 387.10 402.3 15.2 0.25 0.058 1.05 0.06 0.022 0.037 0.67 0.010 1.35
Copper-moly 1320 1570 250 402.34 478.5 76.2 0.20 0.047 0.84 0.09 0.011 0.019 0.34 0.005 1.46

Significant Intersections for Hole 66-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
zone feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
Copper-moly 400 560 160 121.92 170.7 48.8 0.25 0.058 1.05 0.07 0.018 0.030 0.54 0.005 2.28
Copper-moly 535 1317 782 163.07 401.4 238.4 0.32 0.075 1.34 0.11 0.019 0.032 0.58 0.007 3.03
overall 400 1317 917 121.92 401.4 279.5 0.31 0.072 1.30 0.11 0.019 0.032 0.58 0.007 2.92

Significant Intersections for Hole 67-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
zone feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
oxide 240 530 290 73.15 161.5 88.4 0.21 0.049 0.88 0.08 0.012 0.020 0.36 0.004 2.18
Copper-moly 570 910 340 173.74 277.4 103.6 0.42 0.098 1.76 0.11 0.031 0.052 0.94 0.013 3.52
moly 1230 1970 740 374.90 600.5 225.6 0.59 0.138 2.48 0.04 0.073 0.121 2.18 0.058 0.91
Overall 910 1970 1060 277.37 600.5 323.1 0.62 0.145 2.60 0.08 0.070 0.116 2.09 0.050 1.66

Significant Intersections for Hole 68-12

from to length from to length Cu MoS2 MoO3 Cu Mo MoS2 MoO3 Re Ag
feet feet feet meters meters meters equiv.% equiv.% equiv. lbs/t % % % lbs/t Gms/T Gms/T
oxide 370 430 60 112.78 131.1 18.3 0.36 0.084 1.51 0.07 0.032 0.054 0.97 0.019 2.28
Copper-Silver 610 910 300 185.93 277.4 91.4 0.26 0.061 1.09 0.11 0.014 0.023 0.41 0.007 2.18
Copper-moly 910 1320 410 277.37 402.3 125.0 0.37 0.086 1.55 0.09 0.032 0.054 0.97 0.014 1.95
moly 1320 1800 480 402.34 548.6 146.3 0.67 0.156 2.81 0.06 0.079 0.131 2.36 0.058 1.77
Msi 1800 2135.5 335.5 548.64 650.9 102.26 0.23 0.054 0.97 0.02 0.028 0.047 0.85 0.030 0.42
overall 910 1800 890 277.37 548.6 271.3 0.56 0.131 2.35 0.07 0.061 0.101 1.82 0.042 1.84

NOTES:

Copper equivalent (Cu. Eq.) is based on the following metal prices(all in US$): Copper $2.10/lb, Molybdenum Trioxide ($10/lb) ($15 per molybdenum metal (Mo)) , Rhenium $3.75/gram , Silver $0.96/gram and Gold $40.2/gram.

Other factors include 1% = 20 pounds/t; 1 ppm = 1 gm/T; 1000 ppb =1 ppm = 1 gm/T.

Molybdenum is sold as either ferro-molybdenite or molybdenum trioxide. The price used is $10 per pound Molybdenum trioxide. To obtain the amount of Molybdenum trioxide that can be produced from MoS2, the following is required: convert MoS2 to Mo by dividing MoS2 by 1.6681 then convert to MoO3 (Molybdenum Trioxide) by multiplying by 1.5. Therefore the amount of Molybdenum trioxide is pounds MoS2 times 1.5 / 1.6681.

Metallurgical recoveries are as follows and are applied to individual samples within each zone. Grades are recovered grades not head grades.

Zone Cu% MoS2% Ag%
Weathered 60% 80% 70%
CuAg 68% 85% 73%
CuMo 87% 92% 78%
Mo 80% 95% 55%

Rhenium and Gold recovery is 90%, “r” indicates a recovered grade which is assay grade times recovery% for zone in which sample is located.
FORMULAS:

Cu. Equiv. = ((rcu* 20*$)+((rMoS2*20*(1.5/1.6681)*$(MoO3))+(rRe*$)+(rAg*$)+(rAu*$) / $(copper) *20

MoS2. Equiv. = ((rcu* 20*$)+((rMoS2*20*(1.5/1.6681)*$(MoO3))+(rRe*$)+(rAg*$)+(rAu*$) / ((1.6681/1.5)* $(MoO3))*20

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