American CuMo Mining announces Silver Purchase Financing Approved for Vienna Exchange Listing

Vancouver, B.C., May 12, 2021: American CuMo Mining Corporation (TSXV: MLY; OTC Pink: MLYCF) is pleased to announce that it has received approval from the Vienna Stock Exchange for admittance to trading for its majority owned subsidiary, International CuMo Mining Corporation’s (“ICMC”) previously announced Silver Financing (see news release dated April 7, 2021). The units are identified on the exchange as Collateralized Silver Purchase Right Bond CUMO S3 with an ISIN AT0000A2R0R7 and will begin trading May 17, 2021.

The Financing involves the sale of up to 12,500 units (“ICMC Silver Units”) by ICMC at a price of US$1,000 per ICMC Silver Unit, with each ICMC Silver Unit consisting of a promissory note in the principal amount of US$1,000 (a “Note”) and a right (the “Silver Purchase Right”) to enter into a silver purchase and sale agreement (a “Silver Purchase Agreement”) with ICMC. The Notes would be secured against certain assets of ICMC; bear interest at a rate of 7.5% per annum payable or accruable semi-annually on June 30 and December 31; and have a term of seven years. With the consent of the holder of the Note, ICMC could prepay all or any portion of the principal amount outstanding under such Note at any time, provided that any prepayment in whole or in part of the Note would cause the Silver Purchase Right to immediately expire. The offering is subject to the final approval of the TSX Venture Exchange prior to closing.

Investors interested in these units can obtain additional information from the Company at 604-689-7902 or toll-free at 1-800-667-0873 or by email at

Proceeds from the ICMC Financing will be used to further develop the Company’s flagship asset, the CuMo Project, a large molybdenum, copper, and silver property located in Idaho, including: updating the resource calculation, updating the economic analysis, expanding metallurgical testing, conducting in-fill drilling and conducting environmental base-line studies, as well as to reduce current trade payables and for general working capital purposes and also initiate the data gathering and exploration work to be conducted at its recently acquired Bleiberg project. Certain of the proceeds will also be put aside in order to ensure interest payments can be made. Finder’s fees, in accordance with TSX Venture policy, will be paid in connection with the ICMC Financing.

In an update, the Company stated that the recent large increase in metal prices, especially in the price of copper, is having a positive effect on the potential economics of the CuMo project. In the June 2, 2020 Independent 43-101 Preliminary Economic Analysis (PEA), the 30-year production schedule included 2.5 billion pounds of copper and 107 million ounces of silver. The PEA study used prices of US$3 per lb copper and US$17.50 per ounce silver and calculated a cash cost net of by-products, to produce a pound of Molybdenum at US$4.64. Current metal prices would reduce this potential cash cost to under US$0.75 per pound.

Note: The PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA or the new metal prices will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.


About CuMoCo

CuMoCo is focused on advancing its CuMo Project towards feasibility.  Management is continuing to build an even stronger foundation from which to move the Company and its projects forward. For more information, please visit, and

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.

 Cautionary statement regarding 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 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 March 31, 2019.  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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