Copper Mountain Mining - Launch of Bond Buy-Back Offer

Vancouver, BC, January 4, 2023 - Copper Mountain Mining Corporation (TSX: CMMC |
ASX: C6C) (the "Company" or "Copper Mountain") launches the previously announced
bond buy-back offer for its US$250 million senior secured bonds (the "Bonds").
The Company has retained Clarksons Securities AS to facilitate the buy-back
offer.

The Company will make an offer to buy-back Bonds for an aggregate minimum
principal amount of US$87,000,000 (the "Buy-Back Offer") at an offered price of
103.00 per cent of the nominal amount of the Bonds (plus accrued interest on the
repurchased amount). For further background and information, reference is made
to the Company's press release dated November 28, 2022. 

The Buy-Back Offer will be distributed to the bondholders today, January 4,
2023, and posted on Stamdata. The Buy-Back Offer period will commence on January
4, 2023 at 09:00 CET and end on January 18, 2023 at 16:00 CET (the "Buy-Back
Offer Period"). The Buy-Back Offer Period may be extended by the Company, in its
sole and absolute discretion. Settlement of the purchase price under the
Buy-Back Offer is expected to take place on or about January 23, 2023, and the
Company will use the proceeds on the deposit account established for the
Buy-Back Offer to finance the payment of the purchase price.

The Company will also use the proceeds on the deposit account to pay the
one-time amendment fee of 0.25% of the Nominal Amount of the Outstanding Bonds
to the Bondholders through the CSD on January 12, 2023 (the "Amendment Fee
Payment Date"). The record date on which any Bondholder must hold the Bonds to
be entitled to the amendment fee is end of business January 10, 2023, i.e. two
(2) Business Days prior to the Amendment Fee Payment Date.

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 equivalent on
average per year. 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
President and Chief Executive Officer 

For further information, please contact:

Tom Halton
Director, Investor Relations and Corporate Communications
Telephone: [phone] 
Email: [e-mail]

Website: www.CuMtn.com

Cautionary Note Regarding Forward-Looking Statements
This news release 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 news release 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 Copper Mountain's 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 news release, certain forward-looking statements are
identified, including completion of the Buy-Back Offer and any future buyback or
redemption in connection with any contingent consideration received from
Harmony, anticipated production at the Copper Mountain Mine, and expectations
for other economic, business and/or competitive factors. 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 operations and capital expenditure plans
of the Company, the potential impact of the announcement of the Buy-Back Offer,
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 Company's ability to comply with
its financial covenants under the Bond terms and meet its future cash
commitments, extreme weather events, material and labour shortages, the
reliability of the historical data referenced in this document and risks set out
in Copper Mountain's public documents, including the management's discussion and
analysis for the quarter ended September 30, 2022 and the annual information
form dated March 29, 2022, each filed on SEDAR at www.sedar.com. Although Copper
Mountain has attempted to identify important factors that could cause the
Company's actual results, performance, achievements and opportunities to differ
materially from those described in its forward-looking statements, there may be
other factors that cause the Company's results, performance, achievements and
opportunities not to be as anticipated, estimated or intended. While the Company
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.

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