Mr. Gil Clausen reports

COPPER MOUNTAIN ANNOUNCES NEW INGERBELLE MINERAL RESOURCE

Following the completion of its phase 2 drilling program, Copper Mountain Mining Corp. has updated the mineral resource for its New Ingerbelle property. Results of resource estimation based on the phase 2 drilling program have exceeded the company's goal set for phase 3. The drilling program has successfully expanded the resource area and converted a significant part of the previously inferred mineral resource to the indicated and measured categories. The New Ingerbelle deposit is located approximately one kilometre from the company's flagship operation, the Copper Mountain mine.

Highlights from the New Ingerbelle mineral resource are:

• More than one billion pounds of copper and one million ounces of gold in measured and indicated mineral resource at a cut-off grade of 0.12 per cent copper;
• Measured and indicated mineral resource of 151 million tonnes grading 0.29 per cent copper and 0.18 gram per tonne gold (0.41 per cent copper equivalent) at a cut-off grade of 0.16 per cent copper;
• Inferred mineral resource of 69 million tonnes grading 0.27 per cent copper and 0.16 gram per tonne gold (0.38 per cent copper equivalent) for contained metal of 405 million pounds of copper and 360,000 ounces of gold at a 0.16-per-cent cut-off copper grade.

Gil Clausen, Copper Mountain's president and chief executive officer, stated: "Given the size and quality of the mineral resource, we believe New Ingerbelle has the potential to be a significant contributor of value to the company. With New Ingerbelle's mineral resource exceeding our target, our next step now will be to move New Ingerbelle into the evaluation phase. The evaluation phase will include a mine plan and economic analysis to move the mineral resource to the mineral reserve category. Given New Ingerbelle's favourable grade and proximity to our Copper Mountain operation, it has the real potential for growth and flexibility for our near-term production plans. Further, it is just one of several high-quality growth projects we have in our portfolio."

A summary of New Ingerbelle's mineral resource estimate is provided herein. The new resource estimate is based on approximately 38,000 metres of historical drill data, which are below current topography, and 15,000 metres of new drilling, which include drill and assay information up to Sept. 17, 2018.

Cu cut-off grade        Tonnes    Copper     Silver      Gold      CuEq     Copper      Gold   
                         (000s)       (%)      (g/t)     (g/t)       (%)     (M lb)    (M oz)
Measured resource                                                                         
0.20%                   33,987      0.34       0.68      0.21      0.48      256.6     0.234    
0.16%                   43,251      0.31       0.61      0.19      0.44      293.2     0.268    
0.12%                   54,396      0.27       0.55      0.17      0.39      327.6     0.300    
Indicated resource                                                                                              
0.20%                   79,928      0.31       0.61      0.19      0.44      551.0     0.501    
0.16%                  108,027      0.28       0.55      0.18      0.40      662.2     0.604    
0.12%                  141,251      0.25       0.48      0.15      0.35      764.3     0.699    
Total measured and 
indicated resource                                                                             
0.20%                  113,912      0.32       0.63      0.20      0.46      807.6     0.735    
0.16%                  151,278      0.29       0.57      0.18      0.41      955.4     0.872    
0.12%                  195,648      0.25       0.50      0.16      0.36    1,092.0     1.001    
Inferred resource                                                                                                 
0.20%                   47,608      0.30       0.55      0.19      0.43      319.8     0.283    
0.16%                   69,035      0.27       0.49      0.16      0.38      404.5     0.361    
0.12%                   93,459      0.23       0.43      0.14      0.33      480.1     0.428 

Notes: CuEq (per cent) is based on metal content only as historical recoveries have not 
yet been verified. Metal prices assumed in the calculation are $2.75 (U.S.) per pound 
copper, $1,250 (U.S.) per ounce gold and $16 (U.S.) per ounce silver. The mineral resource 
has been contained within a $3.50 (U.S.) per pound Whittle pit shell. Mineral resources, 
which are not mineral reserves, do not have demonstrated economic viability. Numbers 
may not add due to rounding; contained metal is calculated at three significant figures.

The mineral resource includes drilling from the phase 1 and phase 2 drilling programs Copper Mountain started in 2017 and completed in September, 2018. The company's original goal for its three-phase program was to define sufficient resources in order to complete an initial mine plan and economic analysis. However, as it has already exceeded this goal in its phase 2 program, Copper Mountain now plans to move New Ingerbelle into the evaluation phase, where the company will complete an initial mine plan and economic analysis to upgrade the mineral resource to the mineral reserve category. Following the evaluation phase, the company will assess the potential to further expand the mineral reserve and mineral resource in a follow-up phase 3 program.

Mineral resource estimation methodology

The mineral resource estimate was completed by company employees under the guidance and supervision of Peter Holbek, a qualified person as defined by National Instrument 43-101. The resource estimate was prepared in conformity with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) best-practice guidelines. The estimate was prepared using Gemcom software, a three-dimensional block model (15-cubic-metre blocks) where grades were interpolated into blocks from 7.5-metre drill hole composite grades by ordinary kriging. Classification of resources is based on the size of the interpolation search ellipse and number of composites and drill holes informing the interpolated blocks. Mineral resources are constrained by a Whittle pit shell generated at a $3.50 (U.S.) copper price with current mine-site operating costs and metal recoveries.

Competent person statement

The information in this report that relates to exploration targets, exploration results, mineral resources or ore reserves is based on information compiled by Peter Holbek, BSc (honours), MSc, PGeo. Mr. Holbek is a full-time employee of the company and has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a competent person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Holbek does consent to the inclusion in this news release of the matters based on the information in the form and context in which it appears.

Mr. Holbek is a qualified person as defined by NI 43-101 and has reviewed and approved the technical content of this release.

About Copper Mountain Mining Corp.

Copper Mountain's flagship asset is the 75-per-cent-owned Copper Mountain mine located in Southern British Columbia near the town of Princeton. Copper Mountain also has the permitted, development-stage Eva copper project in Queensland, Australia, and an extensive, 379,000-hectare, highly prospective land package in the Mount Isa area.

We seek Safe Harbor.