Catalyst Copper Corp.: Files Amended Technical Report

VANCOUVER, October 29, 2014 - Catalyst Copper Corp. (TSX-V: CCY) ("Catalyst" or "the Company") announces that, following a review by the British Columbia Securities Commission, it has amended and refiled the September 30, 2012 Technical Report titled "La Verde Copper Project Michoacán State, Mexico Technical Report". The original and amended report disclosed a Preliminary Economic Assessment ("PEA") on the La Verde Copper Project, which was prepared by AMC Mining Consultants (Canada) Ltd. ("AMC")

None of the changes made in the amended report materially affect AMC's opinions, conclusions or recommendations, and the effective date remains September 30, 2012. The principal amendments have been made in the interest of transparency to show conceptual post-tax cash flow, in addition to both upside and downside sensitivity to the conceptual project economics as a result of changes in the assumed copper price.

Taxation has been accounted for in a simplified manner in the amended PEA and is based on an indicative 28% corporate tax rate. Depreciation is computed on a straight-line basis assuming a weighted average depreciation rate of 12%.

• Net Present Value ("NPV") as a function of varying discount rates:
  • If the discount rate is 0%, the NPV is US$1,625M pre-tax, US$1,050M post-tax
  • If the discount rate is 5%, the NPV is US$904Mpre-tax, US$510M post-tax
  • If the discount rate is 8%, the NPV is US$617M pre-tax, US$300M post-tax
  • If the discount rate is 10%, the NPV is US$471M pre-tax, US$192M post-tax
• Internal Rate of Return: 21.2% pre-tax and 13.5% post-tax

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, and there is no certainty that the PEA will be realized.

The amended technical report can be found on the Company's website (www.catalystcopper.com) or on SEDAR (www.sedar.com)


Qualified Persons

The following independent Qualified Persons under the standards set forth by NI 43-101, have reviewed the information in relation to the PEA in this press release: Mr. Pat Stephenson, P.Geo., General Manager and Principal Geologist with AMC with over 40 years of experience in the mining industry; Mr. Mo Molavi, P.Eng., Principal Mining Engineer with AMC with over 34 years of experience; Ms. Margaret Harder, P.Geo., Geologist formerly with Tetra Tech WEI Inc. with over 8 years of experience; and Mr. Alan Riles, MAIG, Associate Principal Consultant Metallurgist with AMC with over 40 years of experience.


About Catalyst Copper:

Catalyst Copper Corp. is a copper and base metal company with a focus on copper mining projects in Mexico. The Company's 60%-owned La Verde Copper Project (40%-owned indirectly by Teck Resources Ltd. through a wholly owned subsidiary) is situated in the Sierra Madre del Sur approximately 320 kilometres west of Mexico City in Michoacán State and has excellent infrastructure. The amended September 30, 2012 Preliminary Economic Assessment contemplate La Verde to be an open pit producing over 200 million pounds of copper per year over a 20 year mine life.


ON BEHALF OF THE BOARD OF DIRECTORS OF CATALYST COPPER CORPORATION

"Richard Warke"
Richard Warke – CEO, President & Director



Certain information contained in this press release constitutes forward-looking statements.  All statements, other than statements of historical facts, are forward looking statements including statements with respect to the Company's intentions for the La Verde Copper project in Michoacán State, Mexico including, without limitation, the amount of mineral resources, expected future mineral production, expected metal grades and metal recoveries, expected future capital and operating costs, expected realizable metal prices and other factors that impact the conceptual cash flows.   Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.

The forward-looking statements are based on a number of assumptions which, while considered reasonable by Catalyst, are subject to risks and uncertainties.  In addition to the assumptions herein, these assumptions include the assumptions described in Catalyst's management's discussion and analysis for the year ended December 31, 2013 ("MD&A").  Catalyst cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of copper and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risk Factors" in the MD&A.

Although Catalyst has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended.  Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Catalyst disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Catalyst Copper Corp.



Contact

please visit www.catalystcopper.com or contact: Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications, Telephone: +1 416 860 6310, Email: info@catalystcopper.com