Copper Mountain Mining Corporation

Suite 1700, 700 West Pender Street Vancouver, BC V6C 1G8 Telephone: (604) 682-2992

Facsimile: (604) 682-2993

Web Site: www.CuMtn.com TSX:CUM

COPPER MOUNTAIN ANNOUNCES POSITIVE Q3 2015 RESULTS

This release should be read with the unaudited financial statements and management's discussion and analysis available at www.cumtn.com and filed on www.sedar.com. Our financial results are prepared in accordance with IFRS and expressed in Canadian dollars, unless otherwise noted. Sales and production volumes for the Company's 75%-owned Copper Mountain mine are presented on a 100% basis unless otherwise indicated.

Vancouver, British Columbia - November 9, 2015 - Copper Mountain Mining Corporation (TSX: CUM) (the 'Company' or 'Copper Mountain') announces third quarter revenues of $63.7 million after pricing adjustments and treatment charges from the sale of 21.9 million pounds of copper, 7,800 ounces of gold, and 65,300 ounces of silver. Total cash cost for the quarter ended September 30, 2015 was US$1.72 per pound of copper sold, net of precious metals credits.

Highlights (100% Basis)

• Copper, gold and silver production for the third quarter of 2015 at Copper Mountain Mine was 20.4 million pounds of copper, 6,300 ounces of gold and 64,900 ounces of silver, or 58.2 million pounds of copper, 21,900 ounces of gold and 216,300 ounces of silver for the nine months ended September 30, 2015.

• Revenues for the third quarter of 2015 were $63.7 million from the sale of 21.9 million pounds of copper, 7,800 ounces of gold, and 65,300 ounces of silver, net of pricing adjustments, bringing nine month revenues to $192 million from the sale of 61.8 million pounds of copper, 21,700 ounces of gold, and 224,700 ounces of silver, net of pricing adjustments.

• Adjusted EBITDA was $14.7 million for the quarter; and $48.5 million for the nine months ended September 30, 2015.

• Adjusted earnings were $2.0 million for the quarter; and $9.8 million for the nine months ended September 30, 2015.

• Cash flow from operations was $4.7 million for the quarter; and $18.1 million for the nine months ended September 30, 2015.

• Cash on hand at the end of the quarter was $18.5 million.

• Mine production continued at a mining rate of 160,000 tpd moved during the quarter.

• SAG mill achieved an all-time monthly throughput record of 39,100 tpd during the month of July and averaged 37,400 tpd during the quarter.

• Site cash costs for the quarter were US$1.21 per pound of copper produced net of precious metal credits, a reduction of 11% over Q2 site cash costs.

• Total cash costs for the quarter were in-line with expectations at US$1.72 per pound of copper sold net of precious metal credits and after all off-site charges, a reduction of 5% over Q2 total cash costs.

• Realized prices on metal sales for Q3 2015 were US$2.39 per pound of copper, US$1,118 per ounce of gold and US$14.70 per ounce of silver.

Jim O'Rourke, President and CEO of Copper Mountain, remarked 'We are very pleased to see another consecutive quarter of mill throughput improvements that have been made possible by the addition of secondary crushing. During the quarter the mill achieved a record quarterly average throughput of 37,400 tpd, 7% above our design capacity of 35,000 tpd. The 39,100 tpd average mill throughput achieved in July provides management encouragement for further improvements. We continue to focus on maximizing production while minimizing all costs. Recent modifications have provided further gains and we are confident these gains are sustainable.'

Mr. O'Rourke continued, 'Copper Mountain Mining generated positive free cash flow during the third quarter. In keeping with this trend, no major capital expenditures are planned for balance of 2015 and production improvements are expected to continue through to the end of the year. Mine plans are continuously being reviewed and optimized to best address current market conditions.'

Summary Financial Results

Three months ended

September 30,

Nine months ended September 30,

During the quarter, the company completed four shipments of concentrate containing approximately 21.9 million pounds of copper, 7,800 ounces of gold, and 65,300 ounces of silver to Japan for smelting and recorded revenues, net of smelter charges and pricing adjustments, of $63.7 million. The total cash cost of copper sold for the quarter ended September 30, 2015 was reduced to US$1.72 per pound of copper net of gold and silver by-product credits as a result of ongoing cost cutting measures taken at the mine site.

During the quarter the Company continued with mining ore mainly from the Pit #2 area where a majority of ore will be mined from for the balance of 2015. At the same time the Company continued with the Phase 3 pushback on the west side of Pit #3. During the quarter the Company received approval from the BC Government to incorporate the Virginia and Oriole deposits into the mine plan. Mining from the Virginia area has commenced with overburden removal, while the Oriole deposit will be incorporated into the mine plan once the Virginia pit is completed. Management is now planning on first ore delivery to the concentrator from Virginia in December as a result of the delay in receiving the mine permit amendment that was submitted to government last October. Both of these deposits will provide small volumes of higher grade ore that will be blended into the mill feed. Copper head grade for the year will average about 0.33% copper or approximately 0.41% copper equivalent. During the quarter a total of 14.7 million tonnes of material was mined, including 5.4 million tonnes of ore and 9.3 million tonnes of waste for a strip ratio of 1.73:1. The mining rate at the end of the period was in the range of 160,000 tonnes per day moved.

Mill throughput from the concentrator continued to improve month-over-month, averaging 37,400 tpd during the third quarter, which is an improvement over Q2-2015 and about 7% above design capacity of 35,000 tpd. This improvement included an average throughput of 39,100 tpd for the month of July, thus providing management with the confidence that the budget rate of 37,500 tpd is very achievable on a consistent basis. The increase in throughput is directly attributable to the installation of the permanent secondary crusher and mine site management's ability to optimize the crushing and grinding circuit.

1 Adjusted earnings (loss) is a non-GAAP financial measure which removes unrealized gains/losses on interest rate swaps, pricing adjustments on concentrate metal sales and foreign currency gains/losses.

2 Calculated based on weighted average number of shares outstanding under the basic method based on adjusted earnings.

During the quarter the mill processed a total of 3.4 million tonnes of ore at an average grade of 0.33% copper to produce 20.4 million pounds of copper, 6,300 ounces of gold, and 64,900 ounces of silver. Sag mill availability was 93.4% during the third quarter and copper recovery averaged 82.4% which was in line with the Company's plan. Throughout the quarter management remained focused on cost reduction and capital discipline.

The following table sets out the major operating parameters for the mine for the three and nine months ended September 30, 2015.

3 Excludes ore re-handle from stockpile

4 Tonnes per day

Listed below is a summarized balance sheet and income statement as well as details for our conference call schedule:

Summarized Balance Sheet

Assets

Cash

Accounts Receivable and prepaids Inventory

Property, plant and equipment Other Assets

Liabilities

Current liabilities

Decommissioning and restoration provision Interest rate swap liability

Long-term debt Deferred tax liability

Equity

Share capital Contributed surplus

Retained earnings (deficit) Non-controlling interest Total equity