• December 2006, the Company acquired all of the issued & outstanding common shares of Similco Mines Ltd., a former producer of just under 2 Billion pounds of Copper. 
• Copper Mountain was successful in retrieving over 400,000 meters of historical drilling and converted this into a digital geological database. 
• A diamond drill program was immediately initiated in January 2007 and with successful results was expanded to 44,000 metres - one of the largest exploration drill programs in British Columbia.
• Drilling confirmed continuity of mineralization between existing pits. An interim independent NI43-101 compliant resource estimate was completed in September 2007, based on drilling up to July 20^th (see news release Sept 6, 2007).  A Summary of this interim resource is:

�        Measured and Indicated resources, based on a 0.25% Cu cut-off grade, are 163 million tons grading 0.43% Cu containing 1.4 billion pounds of copper.*

�        Inferred resources at 0.25% Cu cut-off grade are 113 million tons grading 0.37% Cu containing 0.8 billion pounds of copper.*

     �        Gold and silver grades were not reported on, however, historical production records indicate that approximately 12% of the concentrate value was from silver and gold credits and data from the current exploration program suggests that future production will have similar credits.  

• A Preliminary Assessment Report [UTF-8?](“PA [UTF-8?]Report”) completed by Merit Consultants International Inc. confirmed the Super-Pit concept and contained production parameters, operating costs, capital costs and financial projections.
• The PA Report has attractive economics with anticipated production of more than 100 million lbs Cu per year with production beginning in late 2010.
• The PA Report base case pretax net present value (NPV) with a capital cost of $366 million, a long term copper price of US$1.80/lb, and a 5% discount rate over the 15 year mine life is Cdn$406 million.  The pre tax internal rate of return (IRR) is 25.56% for the project with a capital payback of 2.69 years and the project exceeded the [UTF-8?]Company’s investment hurdle rate.  
• In November Hatch Engineering was contracted to complete a detailed Feasibility Study as recommended by the PA Report which is expected to be completed in early 2008.  
• A deep penetration geophysical survey completed near year end identified several large chargeability anomalies, both near surface and at depth.   These anomalies provide large [UTF-8?]“Blue [UTF-8?]Sky” targets which will be drill tested starting in early 2008.