Vancouver, B.C., March 4, 2013: American CuMo Mining Corporation (TSXV: MLY, OTCQX: MLYCF), (formerly Mosquito Consolidated Gold Mines Limited) (“CuMoCo”) announces that on March 1, 2013 it filed a Response to Civil Claim and a Counterclaim to the civil suit previously brought by Bill Jefferies, CuMoCo’s former Chief Financial Officer, Corporate Secretary and director, against CuMoCo relating to management fees that Mr. Jefferies has claimed are owed to him in the amount of $107,509.70. In its response, CuMoCo has denied that any sum is due and owing to Mr. Jefferies, and in its counterclaim, it seeks an award of general and special damages against him.
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 a strong foundation from which to move CuMoCo and the CuMo Project forward.
On behalf of the Board of Directors of
American CuMo Mining Corporation
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.
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.