American CuMo Mining Announces the Filing of a Notice of Claim Against Former Management

Vancouver, B.C., August 22 2013:  American CuMo Mining Corporation (TSXV: MLY, OTCQX: MLYCF), (formerly Mosquito Consolidated Gold Mines Limited) (“CuMoCo”), has commenced an action for damages against the former management of the company namely Brian A. McClay, Kyle McClay, Bill Jefferies and 1330275 Ontario Limited (a private company controlled by Jefferies and Brian McClay). The claim arises from actions undertaken while they were in positions of management with fiduciary responsibilities to the shareholders of the company.  Details of the Notice of Civil Claim can be obtained from the BC Supreme Court Registry.  Management is still investigating other activities and actions that former management engaged in and further proceedings may be forthcoming.

In other legal news, the notice of claim filed by Sacre-Davey Engineering Inc. (News Release October 19, 2012) against the company has been satisfactorily resolved.

Finally, CuMoCo wishes to announce that IEMR Resources Inc. has made the 4th payment under the terms of the Pine Tree property option agreement and the agreement is now up to date.

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

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.

Related Posts

News Archives


2023-02-03 12:46pm EST