CuMo Exploration Program to Be Improved by Supplemental Environmental Assessment

Thu Feb 7, 2013 9:05pm EST

* Reuters is not responsible for the content in this press release.

  BOISE, IDAHO, Feb 07 (MARKET WIRE) --
The leadership team of the Boise National Forest (BNF) and Board of
Directors of American CuMo Mining Corporation's (CuMoCo) (TSX
VENTURE:MLY)(OTCQX:MLYCF) exploration team have responded to the Federal
District Court's August 29, 2012, Memorandum of Decision and Order. The
Boise National Forest will prepare a supplemental Environmental
Assessment (EA) to undertake further analysis concerning groundwater
hydrology relating to drilling explorations of CuMoCo at its CuMo Mineral
Project, in remote Boise County.

    On August 29, 2012, Federal District Court Judge, Edward Lodge, required
that the Forest Service further clarify groundwater hydrology testing
reported in the 2011 EA. Judge Lodge's decision was the result of a
lawsuit brought by environmental groups challenging the agency's EA
process and its Finding of No Significant Impact. Judge Lodge ruled in
favor of the Forest Service regarding four of the five claims made by the
environmental groups, and called for supplemental documentation on
groundwater impact only.

    "While the EA did include groundwater data related to the CuMo Project
exploration, it needed to be presented in a more comprehensive manner,"
said Shaun Dykes, Chief Executive Officer of CuMoCo. "We look forward to
providing additional information concerning the groundwater testing and
to proceeding further with the Project."

    The Forest Service will supplement the 2011 EA to include a detailed
subsection discussing and analyzing the groundwater hydrology. The
subsection will include evidence that supports the Decision Notice and
Finding of No Significant Impact study previously issued by the Forest
Service in 2011.

    "CuMoCo is committed to a strong working relationship with the Forest
Service and the communities of Idaho to advance this vital exploration
program with our industry-leading environmental practices," said Dykes.

    The CuMo exploration team has maintained best management practices with
respect to groundwater, hydrogeology and environmental protection in
conducting its federally approved activities on private and public lands
during a successful exploration program in 2012. Exploration data is a
critical determinant in assessing the financial investment needed to
advance the Project.

    "With the cooperation of the Forest Service, best management practices
and vital support of the community, the CuMo Project should be able to
progress. As CuMoCo works through these environmental assessments, I
believe we will be able to reach our goal of bringing thousands of jobs
to Idaho and billions of dollars of construction and development spending
to the area," Dykes said.

    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.

    Forward-looking information

    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.

    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.

Contacts:
Dave Harbison
208-388-3800
dharbison@peyron.com
www.peyron.com

Noelle Lovern
208.388.3800
nlovern@peyron.com
www.peyron.com

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