American CuMo Mining Announces Additional Financing Arrangements and Provides Update on Calida Gold Drilling Program

Vancouver, British Columbia--(Newsfile Corp. - September 12, 2017) - American CuMo Mining Corporation (TSXV: MLY) (OTC Pink: MLYCF) ("CuMoCo or the "Company") announces that Millennia Minerals Pte Ltd. ("Millennia") has informed the Company that it still intends to proceed with the proposed financing, subject to the final approval of Millennia's Board of Directors,of up to US$200 million (the "Millennia Financing") with the Company, as announced in the Company's previous news releases, and that Millennia has advised that it is in the final stages of obtaining the necessary funds to close the Millennia Financing. Concurrently, the Company has notified Millennia that it is seeking additional financing arrangements to meet its operational requirements until such time that the strategic financial agreements with Millennia are executed, and adequate funds are received from Millennia.

The Company continues to offer its non-brokered private placement (the "Private Placement") of up to 15,000,000 units (the "Units") at a price of CAD$0.25 per Unit to raise gross proceeds of up to CAD$3,750,000, as announced in its news release dated August 15, 2017. CuMoCo has received some subscription agreements and, as well, expressions of interest from investors that collectively represent a significant amount of the Private Placement. The Company may adjust the pricing based on current market conditions, subject to the consent of the TSX Venture Exchange ("Exchange").

Additionally, at the request of several potential investors and interested groups, the Company has amended the pricing structure of its silver stream units, subject to Exchange approval, to allow smaller amounts of silver to be purchased.As announced in previous news releases, CuMoCo's silver stream units (the "Original Silver Stream Units") were priced at US$250,000 per Original Silver Stream Unit, with each Original Silver Stream Unit consisting of a secured and non-transferable promissory note in the principal amount of US$250,000 (a "Note") and a right (the "Silver Purchase Right") to enter into a silver purchase and sale agreement (a "Silver Purchase Agreement") with the Company's wholly-owned subsidiary, Idaho CuMo Mining Corporation ("Idaho Cumo"). The Notes will bear interest at a rate of 8.5% per annum and give the Original Silver Stream Unit holder a Silver Purchase Right to purchase 375,000 ounces of silver for US$5 per ounce from future production.The Company will continue to offer Original Silver Stream Units for sale. A total of 77 Original Silver Stream Units, with corresponding Silver Purchase Rights for 28,875,000 ounces of silver, remain for sale.

The Company will additionally offer for sale silver stream units with a reduced minimum purchase price of US$5,000 per Silver Stream Unit (a "New Silver Stream Unit"). The holder of a New Silver Stream Unit will be granted a Silver Purchase Right pursuant to a Silver Purchase Agreement with Idaho Cumo to purchase that number of ounces of silver equal to the amount of the investment divided by US$1. For example, an investment of US$5,000 will give the holder of the New Silver Stream Unit the right to purchase 5,000 ounces of silver at US$5 per ounce, and an investment of US$10,000 will give the holder of the New Silver Stream Unit the right to purchase 10,000 ounces of silver at US$5 per ounce.Silver ounces from future production will be sold on a first come first served basis.

In other news, drilling at CuMoCo's Calida Gold project continues to intercept copper-bearing mineralized zones, with 18 holes now completed on the project.Copper is a signature of the gold-copper-silver bearing zones that were present in the historic drilling on the project.Drilling is expected to continue for the next few months, weather permitting.

The following table lists each hole information and visual mineralized intercepts (containing quartz veins with visible copper):

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., President and CEO of the Company, is the designated qualified person for the CuMo Project and the Calida Gold project and he prepared the technical information contained in this news release.

About CuMoCo

CuMoCo is focused on advancing its CuMo Project towards feasibility. CuMoCo is also advancing its newly-acquired Calida Gold project.Management is continuing to build an even stronger foundation from which to move the Company and its projects forward. For more information, please visit www.cumoco.com, www.idahocumo.com and www.cumoproject.com.

For further information, please contact:

American CuMo Mining Corporation
Shaun Dykes, President and Chief Executive Officer
Tel: (604) 689-7902
Email: info@cumoco.com

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.

Forward-looking information

This news 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, such as the Company's plan to drill 60 to 70 holes at the Calida Gold project this year, the Company's advancement of its CuMo Project to feasibility, delays resulting from or inability of the Company to obtain required regulatory approvals in connection with the Millennia Financing, the Private Placement and the Original Silver Stream Unit and New Silver Stream Unit financings (collectively, the "Financing Transactions") , the ability of the Company to close the Financing Transactions, general economic conditions, uncertainties related to the availability and costs of financing. Forward-looking information is based on a number of material factors and assumptions, including the result of exploration activities, the ability of CuMoCo to raise additional funds to completethe proposed drill program at Calida and for a feasibility study, that no labour shortages or delays are experienced, that plant and equipment function as specified, that a Court will not intervene with the Company's proposed exploration activities at the Calida Gold project, and the ability of the Company to obtain all requisite permits and licenses to advance the CuMo Project. 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 prediction, projection or forecast 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 gold, molybdenum, silver and copper; possible variations in grade or recovery rates; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing, as well as those factors disclosed in the Company's publicly filed documents, including the Company's Management's Discussion and Analysis for the period ended March 31, 2017.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.

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