Copper Mountain Mining Initiates Copper Price Protection Program

Vancouver, British Columbia - January 19, 2022 - Copper Mountain Mining
Corporation (TSX: CMMC | ASX:C6C) (the "Company" or "Copper Mountain") announces
it has entered into a series of zero-cost collar option contracts.  The
contracts cover 3.3 million pounds of copper per month through 2022, for a total
of 39.6 million pounds of copper.   The floor price of the monthly copper
options has been set at US$4.00 per pound with an average ceiling price of
US$4.91 per pound. 

Gil Clausen, Copper Mountain's President and CEO, commented, "We initiated a
zero-cost collar copper price protection program this month as we believe it is
prudent for us to protect our margins as we invest in our projects this year. 
This is in line with our strategy to be environmentally and financially
judicious, as we move forward with our growth plans. The detailed engineering is
progressing well at the Eva Copper Project. We are also continuing to advance
the installation of an additional concentrate cleaner flotation cell and another
filter press, together with new rougher flotation cell capacity at the Copper
Mountain Mine." 

About Copper Mountain Mining Corporation
Copper Mountain's flagship asset is the 75% owned Copper Mountain Mine located
in southern British Columbia near the Town of Princeton.  The Copper Mountain
Mine currently produces approximately 100 million pounds of copper per year,
with average annual production expected to increase to about 140 million pounds
of copper equivalent.  Copper Mountain also has the 100% owned development-stage
Eva Copper Project in Queensland, Australia and an extensive 2,100 km2 highly
prospective land package in the Mount Isa area. Copper Mountain trades on the
Toronto Stock Exchange under the symbol "CMMC" and Australian Stock Exchange
under the symbol "C6C". 

Additional information is available on the Company's web page at www.CuMtn.com.

On behalf of the Board of

COPPER MOUNTAIN MINING CORPORATION
"Gil Clausen"	

Gil Clausen, P.Eng.
President and Chief Executive Officer

For further information, please contact:
Letitia Wong
Executive Vice President, Strategy and Corporate Development 
Telephone: [phone] 
Email: [e-mail]

Website: www.CuMtn.com

Cautionary Note Regarding Forward-Looking Statements 
This document may contain "forward looking information" within the meaning of
Canadian securities legislation and "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995
(collectively, "forward-looking statements"). These forward-looking statements
are made as of the date of this document, and Copper Mountain does not intend,
and does not assume any obligation, to update these forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required under applicable securities legislation.

All statements, other than statements of historical facts, are forward-looking
statements. Generally, forward-looking statements relate to future events or
future performance and reflect our expectations or beliefs regarding future
events.

In certain circumstances, forward-looking statements can be identified, but are
not limited to, statements which use terminology such as "plans", "expects",
"estimates", "intends", "anticipates", "believes", "forecasts", "guidance",
scheduled", "target" or variations of such words, or statements that certain
actions, events or results "may", "could", "would", "might", "occur" or "be
achieved" or the negative of these terms or comparable terminology. In this
document, certain forward-looking statements are identified, including
production and cost guidance, economics, anticipated production at the Copper
Mountain Mine anticipated metals prices and the anticipated sensitivity of the
Company's financial performance to metals prices, events that may affect the
Company's operations and development projects, anticipated cash flows from
operations and related liquidity requirements, the anticipated effect of
external factors on revenue, such as commodity prices, and business and
acquisition strategies. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause actual results,
performance, achievements, and opportunities to differ materially from those
implied by such forward-looking statements. Factors that could cause actual
results to differ materially from these forward-looking statements include,
among others, the successful exploration of the Company's properties in Canada
and Australia, market price, continued availability of capital and financing and
general economic, market or business conditions, the reliability of the
historical data referenced in this document and risks set out in Copper
Mountain's public documents, including in each management discussion and
analysis, filed on SEDAR at www.sedar.com. The potential effects of the COVID-19
pandemic on Copper Mountain's business and operations are unknown at this time,
including Copper Mountain's ability to manage challenges and restrictions
arising from COVID-19 in the communities in which Copper Mountain operates and
its ability to continue to safely operate and to safely return the business to
normal operations. The impact of COVID-19 is dependent on a number of factors
outside of the Company's control and knowledge, including the effectiveness of
the measures taken by public health and governmental authorities to combat the
spread of the disease, global economic uncertainties and outlook due to the
disease, and the evolving restrictions relating to mining activities and to
travel in certain jurisdictions in which Copper Mountain operates. Although
Copper Mountain has attempted to identify important factors that could cause our
actual results, performance, achievements and opportunities to differ materially
from those described in our forward-looking statements, there may be other
factors that cause our results, performance, achievements and opportunities not
to be as anticipated, estimated or intended, believes that the information and
assumptions used in preparing the forward-looking statements are reasonable,
undue reliance should not be placed on these statements, which only apply as of
the date of this news release, and no assurance can be given that such events
will occur in the disclosed time frames or at all. Accordingly, readers should
not place undue reliance on the Company's forward-looking statements.

Copy of press release attached

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