Gunnison Copper Mobilizes Mining Fleet at the Johnson Camp Mine in SE Arizona
NEWS RELEASE
Gunnison Copper Mobilizes Mining Fleet at the Johnson Camp Mine in SE Arizona
December 16, 2024
Gunnison Copper Corp. (TSX: GCU) (OTCQB: GCUMF) (FSE: 3XS) ("Gunnison" or the
“Company”) is pleased to provide a construction update for the fully permitted Johnson Camp Mine
("JCM"), in southeast Arizona, with first copper production anticipated mid 2025.
Further to the construction update from the press release dated August 8th, 2024, where it was announced
construction of the new leach pad, including crushing of the over-liner material, had commenced the
Company is pleased to report that the mining fleet has been mobilized, and mining activities such as pre-
stripping have begun.
Construction of the Johnson Camp Mine is fully funded by Nuton LLC (“Nuton”), a Rio Tinto venture.
Gunnison is the owner and operator of the mine which has a production capacity of up to 25 million
pounds of copper cathode per year to directly supply critical American supply chains in the clean energy,
defense, and manufacturing sectors.
“We are extremely pleased with how well the JCM construction is progressing. We are tracking our major
construction milestones and budget, including mobilization of the mining fleet and leach pad construction.
The successful start of mining activities was made possible by our highly talented local workforce of over
150 employees and third party contractors, reflecting our commitment to workforce development and
local area economic stimulus,” comments Robert Winton, SVP Operations and General Manager of
Gunnison Copper. “From concept to first production measured in months is a testament to our partnership
with Nuton and the support of the 3 engineering firms contributing to this industry first.”
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Phase 1 Pad Liner installation (Nov 21/24)
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Ore control drilling in Burro Pit (December 10/24)
During construction, progress along with an image gallery will be posted on the company website at
www.GunnisonCopper.com
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ABOUT GUNNISON COPPER
Gunnison Copper Corp. is a multi-asset pure-play copper developer and producer that controls the
Cochise Mining District (the district), containing 12 known deposits within an 8 km economic radius, in
the Southern Arizona Copper Belt.
Its flagship asset, the Gunnison Copper Project, has a measured and indicated mineral resource
containing over 831 million tons with a total copper grade of 0.31% (measured mineral resource of 191.3
million tons at 0.37% and indicated mineral resource of 640.2 million tons at 0.29%), and yielding robust
economics including an NPV8% of $1.3Billion, IRR of 20.9%, and payback period of 4.1 years. It is being
developed as a conventional operation with open pit mining, heap leach, and SX/EW refinery to produce
finished copper cathode on-site with direct rail link.
The PEA is preliminary in nature and includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations applied to them that would enable them to
be categorized as mineral reserves. There is no certainty that the conclusions reached in the PEA will be
realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
In addition, Gunnison’s Johnson Camp Asset, which is under construction with first copper production in
H1 2025, is fully funded by Nuton LLC, a Rio Tinto Venture, with a production capacity of up to 25 million
lbs of finished copper cathode annually.
Other significant deposits controlled by Gunnison in the district, with potential to be economic satellite
feeder deposits for Gunnison Project infrastructure, include Strong and Harris, South Star, and eight other
deposits.
For additional information on the Gunnison Project please refer to the Company’s press release dated
November 14, 2024 entitled “Gunnison Copper Announces Preliminary Economic Assessment of Open
Pit Mining at its Flagship Gunnison Project in Arizona’s Copper Belt”.
Dr. Stephen Twyerould, Fellow of AUSIMM, President and CEO of the Company is a Qualified Person
as defined by NI 43-101. Mr. Twyerould has reviewed and is responsible for the technical information
contained in this news release.
ABOUT NUTON
Nuton is an innovative venture that aims to help grow Rio Tinto’s copper business. At the core of Nuton
is a portfolio of proprietary copper leaching related technologies and capability. Nuton offers the potential
to economically unlock copper through leaching, including from primary sulfide resources, achieving
market-leading recovery rates and contributing to an increase in copper production at new and ongoing
operations. One of the key differentiators of Nuton is the ambition to produce the world’s lowest carbon
footprint copper while having at least one Positive Impact at each of its deployment sites, across its five
pillars: water, energy, land, materials and society.
For more information on Gunnison, please visit our website at www.GunnisonCopper.com
For further information regarding this press release, please contact:
Gunnison Copper Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018
Shawn Westcott
T: 604.365.6681
www.GunnisonCopper.com
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Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may
occur in the future. Forward looking information contained in this news release includes, but is not limited to,
statements with respect to: (i) the intention to deploy the Nuton® technology at the Johnson Camp mine and future
production therefrom; (ii) the continued funding of the stage 2 work program by Nuton; (iii) the details and expected
results of the stage two work program; (iv) future production and production capacity from the Company’s mineral
projects; (v) the results of the preliminary economic assessment on the Gunnison Project; and (vi) the exploration
and development of the Company’s mineral projects.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or
"does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could",
"would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans,
objectives, assumptions, intentions or statements about future events or performance. Forward-looking information
contained in this news release is based on certain factors and assumptions regarding, among other things, Nuton
will continue to fund the stage 2 work program, the availability of financing to continue as a going concern and
implement the Company’s operational plans, the estimation of mineral resources, the realization of resource and
reserve estimates, , copper and other metal prices, the timing and amount of future development expenditures, the
estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the
price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary
regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency
fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers
these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking information. Such factors include risks
related to the Company not obtaining adequate financing to continue operations, Nuton failing to continue to fund
the stage 2 work program, the breach of debt covenants, risks inherent in the construction and operation of mineral
deposits, including risks relating to changes in project parameters as plans continue to be redefined including the
possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay
in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to
the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide
demand for and supply of copper and related products, risks related to increased competition in the market for
copper and related products, risks related to current global financial conditions, risks related to current global
financial conditions on the Company’s business, uncertainties inherent in the estimation of mineral resources,
access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance
on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour
disputes, increases in capital and operating costs and the risk of delays or increased costs that might be
encountered during the construction or mining process, regulatory risks including the risk that permits may not be
obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning
property titles and interests, environmental risks and the additional risks identified in the “Risk Factors” section of
the Company’s reports and filings with applicable Canadian securities regulators.
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. Accordingly, readers should not place
undue reliance on forward-looking information. The forward-looking information is made as of the date of this news
release. Except as required by applicable securities laws, the Company does not undertake any obligation to
publicly update or revise any forward-looking information.