Mr. Shaun Dykes reports

POSITIVE RESULTS FROM SHAREHOLDER MEETING AND APPOINTMENT OF NEW DIRECTORS AND OFFICERS

Thomas Conway was elected as an additional director of the company at the shareholder-requisitioned general meeting of shareholders of American CuMo Mining Corp. (CuMoCo) held yesterday. The proposals of the requisitioning shareholders to remove Hongxue Fu and Yiming Xie as directors of the company did not garner the requisite two-thirds majority vote to pass. After the shareholder meeting, the board of directors met. Details of the board meeting are provided below and the following individuals are now directors of CuMoCo: Shaun M. Dykes, Joseph Baird, Dr. John Moeller, Thomas Conway, Trevor Burns, Charles Yuen, Hongxue Fu and Yi Ming Xie.

Mr. Conway holds a BSc, mining engineering (University of Minnesota), and attended Harvard Business School's executive MBA program. He is a results-oriented executive with 20 years of diverse experience largely with Newmont Mining Corp. in operations, general management, environmental affairs and risk management, including serving as Newmont's vice-president of risk management. His operational experience at Newmont covered domestic and international assignments in open-pit and underground operations where he has a record of enhancing operations through improved cost control and productivity innovations, while maintaining safety and environmental standards. Mr. Conway served as vice-president/general manager, Carlin operations, for Newmont, where he was responsible for a two-million-ounce-per-year operation with 1,600 salaried and hourly employees; and vice-president/general manager, Minera Yanacocha, where, under his guidance, Yanacocha expanded annual gold production from 300,000 ounces to 1.2 million ounces in three years. Mr. Conway also served as assistant general manager at Yanacocha, where he was responsible for the start-up -- ahead of schedule and under budget -- of two metallurgical plants and three open-pit mines. Mr. Conway has a strong understanding of the permitting process through time served as manager, environmental affairs, Carlin operations, where he was responsible for compliance and permitting, and negotiations with the U.S. Environmental Protection Agency and the State of Nevada regulators. Since Feb. 1, 2011, Mr. Conway has served as president and chief executive officer of I-Minerals Inc., a TSX Venture Exchange-listed company developing two unique industrial mineral deposits in Idaho, United States.

At the meeting of the board of directors the following motions were voted on and passed: Mr. Burns was appointed as an additional director of the company as well as interim chief financial officer; Mr. Dykes was appointed as president and chief executive officer; Dr. Moeller was appointed as interim chairman of the board of directors to replace Mr. Fu; and Mr. Yuen was removed from the position of executive vice-president. The board also appointed Mr. Conway and Dr. Moeller, as well as Mr. Baird, to the audit committee and formed a litigation committee, comprising Dr. Moeller, Mr. Baird and Mr. Burns, to oversee the handling of the litigation involving the company and International Energy & Mineral Resources Investment (Hong Kong) Co. Ltd., a company owned and controlled by Hongxue Fu, a director of the company, and his wife.

Shaun Dykes, the new president and chief executive officer, welcomes Mr. Conway and Mr. Burns to the board, and stated that this is a major step forward for the company, and he looks forward to working with the new board to advance the CuMo project with all deliberate speed and thus increase shareholder value.

We seek Safe Harbor.