Highlights of the transaction:

• First deliveries mill feed to the Aldama plant expected shortly
• Cyprium to purchase mill feed, process and sell concentrates
• Use of the Aldama plant by Cyprium to also serve as optimization of plant operations ahead of production from Las Cristinas

Montreal, Quebec – (October 16, 2014) Cyprium Mining Corporation ("Cyprium" or the "Company") (TSX-V: CUG and CUG.DB) is pleased to announce that, through its wholly-owned Mexican subsidiary Cypriumex S.A. de C.V., it has signed a mill feed purchase agreement with SkyFall Industries S.A. de C.V. ("SkyFall") a Chihuahua, Mexico based company specializing in the offering of services for small and medium mines for mineral treatment and commercialization of concentrates. Under the agreement of an indefinite period, Cyprium will immediately start buying mill feed from SkyFall for processing at the Aldama plant, with first deliveries expected in early November. Cyprium recently announced that it has secured the exclusive use of a 100 metric tons per day flotation plant located outside the City of Chihuahua. Under that five year agreement, Cyprium will use the plant on a variable cost basis and will be responsible for the supervision of all metallurgic processes, including quantitative chemical analysis, assaying of samples and determining feed grades.

"Our partnership with SkyFall is a positive development for Cyprium and our vibrant local mining sector which is characterized by several small to medium size miners but a lack in efficiently run processing facilities. We believe that SkyFall's long history in dealing with and purchasing minerals from several small and medium sized miners in Chihuahua State when combined with Cyprium's professionally run processing plant will be a winning proposition for all involved", said Andre St Michel, President and CEO of Cyprium. "We are finalizing plans to receive the first shipment from SkyFall and are expecting to start treating minerals at the Aldama plant shortly."

"When we start and ramp up production at our Las Cristinas property we intend to process minerals from both our property and SkyFall's minerals at the Aldama plant in order to maintain the plant operating at full capacity," Mr Andre St Michel concluded.

About Cyprium Mining Corporation

We operate solely in Northern Mexico where our senior management team. We only look for projects that have a potential for profitable production in the short-term and a large exploration potential. Cyprium is committed to maximizing the potential of projects by funding exploration programs mainly through cash flows generated by production instead of funding such programs strictly through equity offering thus limiting shareholder dilution. Cyprium prioritizes projects which are easily accessible and close to large urban centers. Cyprium owns 51% of Coyame Copper SA de CV ("Coyame Copper"), a Chihuahua, Mexico based mining exploration company and has an option to increase its stake in Coyame Copper to 70% for a consideration of US $1.2 million payable over a period of eighteen months following the exercise of the option. Coyame Copper's Las Cristinas Project consist of four adjacent exploration concessions (Las Cristinas, La Parrita, La Verde and La Lagrimosa) covering 684 hectares. Coyame Copper also owns production assets located outside the town of Coyame, Mexico.

For further information, please contact:

Andre St-Michel, President and CEO 
E-mail: [email protected] 
Phone: (514) 629 7185

Alain Lambert, Chairman 
E-mail: [email protected] 
Phone: (514) 219-7988

Carl Desjardins, Paradox IR 
Email: [email protected] 
Phone: (514) 341 0408 
Website: www.cypriummining.com

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

The geological information of this release was verified by Jacques Marchand, P.Eng. P.Geo, and an independent Qualified Person.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated plans for developments of the Company and its mining projects".

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by Company's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of Company's anticipated projects, delays or changes in plans with respect to the development of Company's anticipated projects by Company's third party relationships, risks affecting the ability to develop projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. No assurances can be given that the efforts by the Company will be successful. Additional assumptions and risks are set out in detail in the Company's MD&A, available on SEDAR at www.sedar.com.

Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law. Investors should note that the Las Cristinas property has no established mineral resources or mineral reserves as defined by NI 43-101. Although Cyprium Mining has made an initial production decision based on historical production records and the results of the recent sampling, a feasibility study has not been completed and there is no certainty that the proposed operation will be economically or technically viable. The completion of each phase of drilling is contingent on the successful completion of the previous one.