American CuMo Mining Announces Retraction of Technical Report

Vancouver, British Columbia--(Newsfile Corp. - December 20, 2019) - American CuMo Mining Corporation (TSXV: MLY) (OTC Pink: MLYCF) ("CuMoCo" or the "Company") announces that on November 27, 2019, the Company had filed a technical report on SEDAR titled "Preliminary Economic Assessment & NI 43-101 Technical Report for the CuMo Project, USA" (the "Technical Report"), with an effective date of October 15, 2019 , that suggests that the Technical Report was authored by eight (8) qualified persons. It has recently come to the Company's attention that one qualified person, who was represented as having taken professional responsibility for several sections of the Technical Report, asserts that he had not reviewed or approved the Technical Report and that his signature was included without authorization. The Company accordingly, while it investigates this matter, hereby retracts the filing of the Technical Report on SEDAR and advises that the Technical Report should not be relied upon.

Upon learning of the issue, the Company's independent directors immediately commenced an investigation. Although such investigation is at an early stage, the issue is being treated with utmost seriousness by the Company.

The Company has also been engaged in discussions with a view to rectifying and refiling the Technical Report with another qualified person assuming responsibility for the relevant sections of the Technical Report for which a responsible qualified person is required. There can be no assurance that the Company will be able to engage another qualified person or file, either in its current or a modified form, the Technical Report.

About CuMoCo

CuMoCo is focused on advancing its CuMo Project towards feasibility. Please visit cumoco.com, idahocumo.com and cumoproject.com.

For further information, please contact:

American CuMo Mining Corporation

Trevor Burns, Chief Financial 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.

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