VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 2, 2013) -
American CuMo Mining Corporation (CuMoCo) (TSX
VENTURE:MLY)(OTCQX:MLYCF) is pleased to announce that the
Boise County Board of County Commissioners and the Idaho Department
of Commerce have expressed support for the completion of the
exploration phase of the CuMo Project in written comments submitted
during a Supplemental Environmental Assessment (SEA) public comment
process being conducted by the U.S. Forest Service. Letters
submitted to the U.S. Forest Service (USFS) advocate for the
advancement of Idaho CuMo Mining Corporation's eight-year
scientific study of the Boise County, Idaho molybdenum deposit.
Throughout part of August and September, community members have
had the opportunity to attend public meetings hosted by the USFS to
learn more about the current SEA and to submit comments regarding
the CuMo Exploration Project. After attending the open houses in
Southwest Idaho, Boise County Commissioners submitted a letter in
support of the Project. The letter also contained some suggested
operational considerations.
Signed by all three Boise County Commissioners - Commissioner
Jamie Anderson, Commissioner Vicki Wilkins and Chairperson Barbara
Balding - the letter stated, "Many citizens of Boise County
expressed their desire to return to a natural resource based
economy, therefore allowing the exploration of the CuMo Project is
encouraged. Boise County wants to find the best solutions for all
of our citizens."
Letters of support from the Boise County Commissioners and Idaho
Department of Commerce are available at www.cumoproject.com.
The SEA, which was developed by USFS, resulted from an August
2012 decision rendered by Federal District Court Judge Edward Lodge
in response to litigation by environmental groups. Those groups
challenged the USFS's Environmental Assessment (EA) process and its
Finding of No Significant Impact relative to the CuMo Exploration
Project. Judge Lodge affirmed the Forest Service process and denied
four of the five claims in the environmental groups' lawsuit. He
directed that the federal agency to perform additional
environmental evaluation on groundwater issues within the area
under review.
"While the process has been time consuming and costly, we
believe the Supplemental Environmental Assessment completes a
comprehensive review of the company's activities and fulfills
commitments to date," said Shaun Dykes, CEO of CuMoCo. "We are
pleased to demonstrate that we are and will continue to be good
neighbors and vigilant stewards of the environment."
CuMoCo and its subsidiary, Idaho CuMo Mining Corporation (ICMC),
believe that if scientific research supports an economically viable
project, the CuMo Project could create thousands of high-paying
jobs. CuMo Project team leaders are employing scientific
methodology and best practices in every facet of project research
and development.
The public comment period concluded on September 18, 2013.
Leadership is confident that all matters have been thoroughly
researched and mitigating actions have been outlined in detail.
CuMo Project leaders will continue to work with USFS to support the
agency's completion of the SEA process. The company believes the
SEA should be approved and exploration activities resumed.
ABOUT AMERICAN CUMO MINING CORPORATION
American CuMo Mining Corporation is a mining exploration and
development company with a diverse portfolio of high potential
precious and base metals projects, located in low political risk
environments in North America. The Company's primary focus is
developing its Idaho-based CuMo Project, one of the world's largest
molybdenum deposits. For more information about the Company, please
visit www.cumoco.com and www.cumoproject.com.
On behalf of the Board of Directors of
American CuMo Mining Corporation
Shaun Dykes, Chief Executive Officer
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.
