American CuMo Mining Corporation (“CuMoCo” or the “Company”) (TSXV: MLY; OTC-Pink: MLYCF) is pleased to announce that it has agreed to appoint Mr. He Yu, President and CEO of MCC8 Capital Limited, as Non-Executive Chairman of Idaho CuMo Mining Corporation. Mr. He’s role will be to represent Idaho CuMo Mining in China and to provide project management services for accessing large Chinese financial institutions and private investors for funding, and for strategic off-take sales agreements. Mr. He earned his LL.B and Juris Doctor (JD) equivalent degrees from two of the most prestigious law schools in China respectively and graduated from a Post-JD Program at Harvard University.
Mr. He’s background with MCC8 Capital Limited has been as the Co-Founder and Managing Director in Hong Kong since April 2011 to date. MCC8 Capital (http://www.chinamcc8.com) is the investment banking arm of MCC8 Group Company Limited (MCC8 Group) – a Multi-Billion USD mining and infrastructure development company, managing over one billion USD of capital from a diverse group of Chinese investors, including private equity, mining, real estate, clean technology, structured investment and project finance, and asset management. MCC8 Group is formerly a division of Jinchuan Group (JNMC), the world’s top three nickel, cobalt and copper multinational.
Since January 2008, Mr. He has been a Director of ZTE-Lemna Environmental Protection Co., Ltd., China. ZTE Corporation is a 16 Billion USD company and a global-leader provider of telecommunications equipment and network solutions. With operations in 160 countries, the company is a leader in technology innovation, delivering superior products and business solutions to clients all over the world.
CuMoCo’s President and CEO Shaun Dykes stated: “We are very pleased to have Mr. He join our highly experienced team in Idaho. Mr. He has extensive worldwide experience in construction and project financing and I am confident that he will prove to be an invaluable asset for our Company and for the CuMo Project.”
Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., President and CEO of the Company is the designated qualified person for the CuMo Project, and prepared the technical information contained in this news release.
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 www.cumoco.com 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 as the Company’s ability to successfully negotiate the Definitive Agreement with the Chinese Partners, the Company’s ability to move the CuMo Project through development to feasibility and production, and for the Company 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, 2016. 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.