CuMo Project Wins Support of Public Officials for Completion of Exploration
Boise County Commissioners and the Idaho Department of Commerce Weigh in
BOISE, Idaho, October 1, 2013: 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 molybdenum deposit.
Residents in Ada and Boise County have had the opportunity to attend public meetings hosted by the U.S. Forest Service to learn more about the current Supplemental Environmental Assessment and to submit comments regarding the CuMo Exploration Project. After attending the open houses in Idaho City and Crouch, 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 Supplemental Environmental Assessment, 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 U.S. Forest Service’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.”
American CuMo Mining Corporation (CuMoCo) — parent company of Idaho CuMo Mining Corporation (ICMC) — believes 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.
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 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, including such things as the Company’s current funding, and funds to be received from equipment sales, being sufficient to fund 2013 work programs at the CuMo project and corporate development.
Often, but not always, forward-looking information can be identified by the use of words such as “expects”, “estimates”, “potential”, or “believes” or describes a “goal” or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved.
Forward-looking information is based on a number of material factors and assumptions, including the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, that the Court will not intervene with the Company’s proposed exploration activities at the CuMo project and that laboratory and other related services are available and perform as contracted. 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 results, prediction, projection, forecast, performance or achievements 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; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company’s publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, 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.