|By Marketwire .||
|March 6, 2013 12:39 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/06/13 -- American CuMo Mining Corporation (CuMoCo) (the "Company") (TSX VENTURE:MLY)(OTCQX:MLYCF) is pleased to announce that it has established an Idaho-based corporation named Idaho CuMo Mining Corporation to manage the development of the CuMo Project.
As the CuMo Project moves forward, having an Idaho-based operation and leadership will provide greater access to relevant agencies and nurture state, local and community relationships. The ongoing engagement of Idaho professionals, local labour, geologists and mining industry experts confirms CuMoCo's commitment to Idaho and Boise County.
"Since my appointment as CEO, I have made every effort to reaffirm our confidence in the CuMo Project and our commitment to the community. The successful development of the CuMo Project relies on a strong local presence and expert management team based in Idaho. The formation of Idaho CuMo Mining Corporation is the next step in our strategic plan," said Shaun Dykes, CEO.
Additionally, CuMoCo is pleased to announce the launch of its new corporate website. Shareholders and investors are encouraged to visit www.cumoco.com for the latest news and developments of the CuMo Project. Furthermore, CuMoCo is now profiled on four of Investing News Network's websites: resourceinvestingnews.com; molyinvestingnews.com; copperinvestingnews.com; and silverinvestingnews.com.
CuMoCo's highest priority continues to be the ethical and sustainable development of its 100%-owned CuMo Project. In the current stage of development, the Company is focused on advancing the project towards feasibility and developing a plan for one of the largest and lowest-cost molybdenum producers in the world, as well as a significant producer of copper and silver. With a professional, dedicated team and new funding in place, management is confident that it is on the path of realizing the potential of the CuMo Project.
On behalf of the Board of Directors of American CuMo Mining Corporation
Shaun Dykes, Chief Executive Officer
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.
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.