January 18, 2016 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) The Board of Directors of Nevada Copper are very pleased to announce the appointment of Mr. Victor Bradley as Non-Executive Chairman of the Board. Mr. Bradley has been Lead Director of Nevada Copper since 2013. Mr. Bradley is a Chartered Professional Accountant with more than 50 years of experience in the mining industry having founded, financed and operated several mining and advanced stage exploration and development companies.
Mr. Bradley began his career with positions such as Controller/ Chief Financial Officer at a number of mining companies including Cominco Ltd. and McIntyre Mines Ltd.
In 1994, Mr. Bradley founded Yamana Gold Inc. (formerly “Yamana Resources Inc.”) collectively “Yamana”. Mr. Bradley served as its President and CEO until July 2003. By 2001, Yamana had discovered, developed, financed and put into production the high grade Mina Martha silver mine located in southern Patagonia, Argentina. Mr. Bradley negotiated and consummated the reverse takeover of Yamana by Santa Elina Mines of Brazil in the first half of 2003 and then moved, in July 2003, to serve as Chairman of the Board and subsequently Lead Director until May 2008. As Chairman, Mr. Bradley helped guide Yamana through the acquisition of Santa Elina’s gold assets, including a producing gold mine bought from CVRD and five other significant corporate acquisitions, including Desert Sun, Meridian, Northern Orion and Viceroy. During his time with Yamana, Mr. Bradley participated in many equity and debt financings.
From November 2006 to June 2014, Mr. Bradley was Chairman of Osisko Mining Corp, one of Canada’s modern mining success stories. Osisko arranged project financing of greater than $1 billion in debt and equity in 2009 for the Canadian Malartic mine. The mine was sold to a partnership of Agnico Eagle and Yamana Gold in June of 2014. Currently Mr. Bradley is Director of Osisko Gold Royalties, a company created through the sale of Osisko Mining and holding an NSR royalty on the Malartic Mine.
Mr. Giulio Bonifacio, President & CEO commented, “On behalf of Nevada Copper’s Board of Directors, we are extremely pleased to have such a highly respected and experienced leader in the mining sector act as Non-Executive Chairman of Nevada Copper. Vic’s extensive background in the mining sector will prove invaluable to Nevada Copper as we move forward. Vic will bring his vast knowledge of the industry, expertise in negotiations and his many contacts to assist Nevada Copper.”
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: the completion of the 2016 Financing, the cure of any default under the Loan Agreement, the continued forbearance of Red Kite, and any statements regarding revised development plans at the Pumpkin Hollow property or the future completion of any strategic transaction, as well as the Company’s plans in general.
Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause actual results to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements or information.
Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: conditions in debt and equity financing markets and the challenges of the Company completing the 2016 Financing on or before April 15, 2016 on acceptable terms or at all in the current commodity market, future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States, other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 17, 2015. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com.
The Company provides no assurance that forward-looking statements 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 statements.
|For further information call:
VP, Investor Relations & Communications
Toll free: 1-877-648-8266
|Robert McKnight, P.Eng., MBA
Executive Vice President & CFO