Category Archives: City of Yerington

YerCityCouncil20151012 (2)

Yerington City Council votes unanimously to approve deed and zoning

October 13, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is very pleased to announce that it has received a deed of sale and completed its Federal Land Acquisition, acquiring 9,145 acres (14.3 square miles) of land from the City of Yerington (“the City”). This parcel of land surrounds the Company’s current 1,538 acres (2.4 square miles) of private land and constitutes the majority of the 10,059 acres of Federal land acquired by the City from the Bureau of Land Management (“BLM”) in August 2015 (see August 21, 2015 News Release). Pursuant to the Company’s agreement with the City, deeding the land to Nevada Copper was the final step in the land acquisition process. The City retains 914 acres in the extreme northwestern area for public amenity purposes.

The Company now owns or controls 10,683 acres (16.7 square miles) of privately-owned land that encompasses 100% of the proposed 70,000 tons per day Pumpkin Hollow copper project development. The land is zoned “M1 Industrial” under City planning statutes, a zoning that allows for any proposed mine development. The Company controls all surface and mineral rights on the private lands, plus an additional 6,830 acres (10.7 square miles) of unpatented BLM mineral claims contiguous to the private land, for a total of 17,513 acres (27.4 square miles) of mineral rights.

Nevada Copper will be reviewing the additional exploration potential on the newly-acquired private land, particularly on northern and westerly extensions to the North open pit deposit. Federal permits for drilling are no longer required for any future exploration activity on this private held land.

The Pumpkin Hollow mine development, including both open pit and underground mines, and one or two mills, are fully permitted under State of Nevada regulations. Proposed future access roads, power lines and water lines are also located within this private land. No Federal permitting is required, now or in the future, for full construction and operations of the mine. This affords Nevada Copper significant flexibility to develop and expand operations as needed.

Giulio T. Bonifacio, President and CEO commented: “Completion of the federal land conveyance and deeding of private land from the City to Nevada Copper is the final administrative step in a process that has led to the achievement of a fully-permitted, shovel ready project located entirely on private land. This represents an enormous project milestone: the result of contributions by many people led by the tireless efforts of Timothy M. Dyhr, Vice President, Environment and External Relations.”

“Pumpkin Hollow represents the only large, fully-permitted copper deposit in the Americas not currently owned by a major, located in an ideal location with existing infrastructure. This makes it a truly unique,valuable and scarce copper asset.”

About Nevada Copper
Nevada Copper controls the 100%-owned Pumpkin Hollow copper project located near Yerington Nevada (“the Project”). The Project is located entirely on private land owned or controlled by the Company, and is fully permitted for construction and operations. The Project currently has proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounce ounces of gold and 27.6 million ounces of silver (see May 28, 2015 News Release). In June 2015 the Company completed an Integrated Feasibility Study to construct and operate a 70,000 tons per day open pit and underground mine. The Company continues to advance its project financing options and expects that its fully-permitted status, and continued exploration success, will further enhance financing opportunities.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com).

Qualified Persons
The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

Cautionary Language
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: expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters. 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 the actual industry results, to be materially different from any 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: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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:
Eugene Toffolo
VP, Investor Relations & Communications
Phone: 604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com

Robert McKnight, P.Eng., MBA
Executive Vice President & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

Yerington Mayor George Dini signing deed on behalf of City to convey land to Nevada Copper

YerMayorDiniSigningDeed20151015-2

 

NEWS RELEASE

TSX: NCU

NEVADA COPPER INTERSECTS 462 FEET OF 0.64% COPPER

 September 10, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to provide a project update and announce the remaining results of its first phase of diamond drilling on the North and South open pit deposits at the Company’s 100% owned Pumpkin Hollow project (“the Project”) located near Yerington Nevada.

Project Development Update

With the recent achievement of a fully-permitted, shovel-ready project and a feasibility study in hand, the Company is now reviewing various financing and development alternatives. On the financing front, a number of project finance banks have expressed interest in leading or participating in a large debt financing and the substantial mobile equipment fleet has attracted the interest of the major equipment lessors.  A large smelter has also expressed interest in a long term concentrate purchase contract that could attract government loan guarantees and result in longer loan term and lower financing costs.  On the project delivery front, the Company has been contacted by numerous engineering firms regarding EPCM work.  In light of the current lack of work in mine construction, there are good opportunities for soliciting lump sum bids and cost savings in major areas of project capital. We are also examining opportunities for cost reductions and optimization in the flow sheet and process plant. While the foregoing activities are proceeding, the Company has scaled back unnecessary expenditures at the project.

Open Pit Drilling Results

The Company has successfully completed the first phase of a multi-phase Open Pit drilling program with results from the final six drill holes.  The holes were drilled in the North and South deposits as well as the Connector zone.  All holes have been successful in intersecting copper mineralization.  The program was designed to expand open mineralization and convert material currently classified as waste, into measured or indicated categories. Twenty five holes were completed and 4 holes pre-collared for a total of 36,400 feet (11,100 meters).

The highlights of the drill program include:

  • Drilling was very successful in expanding mineralization within the core area of the North pit where material classed as waste was converted into mineral resources. One of the holes, NC15-04 intersected multiple zones of mineralization totaling over 300 meters (1,000 feet);
  • Mineralization was expanded and remains open along the western and eastern edges of current North pit;
  • The drilling shows that the shallow high grade zones in the North pit can be expanded further. NC15-16 intersected a shallow zone grading 1.29% copper over 38.7 meters (126.8 feet), 37.6 meters true thickness;
  • Mineralization continues to expand in the Connector zone between the North and South pits with NC15-13 intersecting 63.9 meters (209.5 feet) @ 1.39% copper, true thickness;
  • Shallow and down dip mineralization in the South deposit was expanded and remains open. The drilling also converted waste to mineralized material;
  • New mineralization was found in the McConnell Canyon Formation. This is the first time that copper mineralization has been found on the property in this older geologic unit, and this opens up additional exploration possibilities; and
  • Additional drilling is warranted as mineralization remains open along the edges of the deposits. The second phase of drilling will target the expansion of these zones.

NC15-16 was drilled in the center of the North deposit and was successful in converting waste and inferred material where drilling was lacking in the deeper parts of the deposit. The hole also encountered a much thicker shallow high grade zone than in adjacent holes, intersecting 38.7 meters (126.8 feet @ 1.29% Cu), 37.6 meters true thickness. This was within a larger zone of 140.9 meters (462.2 feet @ 0.64% Cu), 135.2 meters true thickness.

Drill holes NC15-22 and NC15-23 are located in the Connector zone between the North and South pits.  NC15-22 intersected multiple zones of lower grade mineralization that correlate well with adjacent holes. Mineralization is still open and additional holes are planned.

 Three holes, NC15-14, 17 and 21, were drilled in the South deposit. NC15-17 was successful in expanding the down dip extension of the deposit by intersecting multiple zones of mineralization within the design pit.  NC15-14 was a follow up of NC15-02 and intersected 43.2 meters (141.8 feet @ 0.51% Cu), 35.4 meters true thickness. This mineralization opens up a new target on the property hosted within the McConnell Canyon Formation, stratigraphically below our current host units. Possible follow up drilling in the new host rock is under review.

Metallurgical Drilling: South Pit

In July, 2015 the Company also completed a metallurgical drill program consisting of 8,500 feet (2,600 meter) in the South open pit area that was primarily to obtain additional samples for iron metallurgical testwork. The assay results however also contained several notable high grade copper intersections, including 70.1 meters (230 feet) 57.4 meters true thickness grading 1.49% copper within a broader zone of 136.6 meters (448 feet) 119.9 meters true thickness grading 1.0% copper (see July 15, 2015 News Release).

Greg French, Vice President of Project Development & Exploration, commented, “The Open Pit drill program has proven to be very successful. Drilling continued to intersect and expand mineralization within, and adjacent to, the current pit limits. This also included expanding mineralization in the Connector zone which is expected to improve future pit designs.

 “In addition to expanding mineralization, several of the drill holes intersected shallow high grade mineralization thicker then adjacent holes. A good example is NC15-16 which intersected 38.7 meters (126.8 feet) averaging 1.29% copper thicker then adjacent hole N92-04 at 12.3 meters (70 feet) at 1.36% copper. Additional expansion in this area will have a positive impact on the mining grades in the early years.

 “The results from the recent program will be incorporated into the geological model which will have a positive effect on the measured and indicated classes of mineralization. It is evident that additional drilling is warranted as we continue to expand mineralization in the Connector zone, continue to expand open mineralization along the edges of the pit design, and continue the conversion of internal waste into mineral resources.  These areas of new mineralization are expected to have a positive impact on future pit designs by expanding our proven and probable mineral reserves and lowering strip ratio and related mining costs.”

The tables below summarize the final assay results.

 

  Hole #   From   To   Length True Length   Length   Cu   Gold   Silver Cu Equiv.*
(m) (m) (m) (m) (ft) % (g/t) (g/t) %
NC15-14 82.3 88.4 6.1 5.0 20.0 0.14 0.027 1.4 0.16
284.4 327.6 43.2 35.4 141.8 0.51 0.084 3.8 0.57
NC15-16 115.8 256.7 140.9 135.2 462.2 0.64 0.062 1.9 0.68
including 121.9 160.6 38.7 37.6 126.8 1.29 0.123 3.9 1.37
274.6 314.5 39.9 38.5 131.0 0.18 0.023 0.7 0.19
371.6 388.0 16.4 16.4 53.7 0.18 0.021 0.9 0.19
404.9 414.5 9.6 9.6 31.7 0.22 0.021 1.0 0.23
448.6 459.6 11.0 11.0 36.3 0.20 0.023 0.8 0.21
513.5 519.7 6.2 6.2 20.2 0.47 0.047 1.5 0.50
NC15-17 239.4 252.1 12.7 10.4 41.6 0.23 0.019 0.6 0.24
322.2 350.5 28.3 23.2 92.8 0.27 0.038 0.4 0.29
NC15-17 399.0 433.4 34.4 31.6 113.0 0.35 0.049 1.3 0.38
441.8 452.2 10.4 8.5 34.1 0.22 0.051 0.9 0.25
463.4 496.8 33.4 27.3 109.5 0.21 0.034 0.8 0.23
NC15-21 176.4 185.4 9.0 9.0 29.4 0.24 0.004 0.6 0.25
NC15-22 214.9 220.6 5.7 5.7 18.7 0.20 0.019 0.8 0.21
227.2 246.4 19.2 19.2 63.2 0.21 0.014 0.7 0.22
266.1 311.8 45.7 45.7 150.0 0.18 0.022 0.7 0.19
340.2 359.1 18.9 18.9 62.0 0.25 0.028 0.6 0.27
NC15-23 149.2 155.0 5.8 5.8 19.0 0.15 0.012 0.6 0.16

* Cu Equiv. used Cu $3.00, Au $1,200 and Ag $18; recoveries 89.3%, 67.3% and 57.3% respectively.

 

Cross-sections showing recent drill hole results in the open pit areas are shown below:

12

 

A plan map showing drill hole locations is shown below:

3

 Underground Drill Program

Two drills are currently working underground at the 1,900 foot production level. Ten holes will be drilled in the first phase for approximately 10,000 feet. The program consists of delineation and development drilling which will focus on further enhancing the high grade zones within the current mineral reserve, especially in areas planned for mining in the early years. Assays will be posted as results are received.

Management believes the program has the potential to improve the copper production grades in the early years and for continued expansion of mineralization, which remains open in several directions. Detailed geotechnical data is also collected for refining mine designs.

Additional Information

The Project, which is located entirely on private land near Yerington Nevada, is 100%-owned by Nevada Copper, and fully permitted for construction and operations.  The Project currently has proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounces of gold and 27.6 million ounces of silver (see News Release dated May 28, 2015 for mineral reserve tonnages and grades).

The Company continues to advance its project financing options and expects that its fully-permitted status, and continued exploration success, will further enhance financing opportunities.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

Qualified Persons

The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

 

NEVADA COPPER CORP.

  

Giulio T. Bonifacio, President & CEO

 

Cautionary Language

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:  expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  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 the actual industry results, to be materially different from any 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: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

FlagOntop

City of Yerington , Mayor George Dini signs the

City of Yerington, Mayor George Dini signs the land patent.  Left to right is Nevada Copper’s Vice President of Operations, Tim Arnold, Nevada Copper’s Vice President of Exploration & Project Development, Greg French, City of Yerington Mayor, George Dini, Lyon County Manager, Jeff Page and City of Yerington Manager, Dan Newell.

 

NEWS RELEASE

TSX: NCU

FEDERAL LAND CONVEYANCE COMPLETE

AT NEVADA COPPER’s PUMPKIN HOLLOW PROJECT 

 August 21, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce the completion of the Yerington Land Conveyance (the “Conveyance”) of Federal land to the City of Yerington (the “City”), that encompasses the Company’s Pumpkin Hollow Copper Project (“the Project”).

On August 20, the Bureau of Land Management (“BLM”) signed a deed of sale that conveys 10,058 acres (final surveyed acres) of federal land to the City. The appraised fair market value of US$1.8 million has been fully funded by Nevada Copper.

Pursuant to a pre-existing agreement between the Company and the City, the City will re-convey 9,130 acres of the acquired land to Nevada Copper.  The final steps between the Company and City to convey the required land to Nevada Copper (completing the subdivision map) are now entirely administrative. The City has advised Nevada Copper that it can immediately proceed with any work necessary to develop the Project.

The newly-acquired land, combined with Nevada Copper’s existing 1,550 acres of private land, places the entire integrated open pit and underground mine on 10,680 acres of private land owned by the Company and allows the Project to be constructed and operated with its current, approved Nevada State permits.

Giulio Bonifacio, President and CEO commented: Completion of the federal land conveyance, combined with the recent receipt of all state permits completes a process that achieves a significant project milestone that further de-risks the Project. With all permits in hand and land title aspects complete, Nevada Copper will focus on financing options as it now can begin construction of any or all components of the Project.

 Additional Information

The Project, located near Yerington Nevada, is 100%-owned by Nevada Copper. The Project currently has proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounce ounces of gold and 27.6 million ounces of silver. In June 2015 the Company completed an Integrated Feasibility Study to construct and operate a 70,000 tons per day open pit and underground mine. The Company continues to advance financing options and expects that completion of the Conveyance will significantly enhance those opportunities.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

NEVADA COPPER CORP.

 

Giulio T. Bonifacio, President & CEO

 

 Cautionary Language

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 expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  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 the actual industry results, to be materially different from any 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: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

MineSite20150306NEWS RELEASE

TSX: NCU

NEVADA COPPER FULLY PERMITTED 

 August 17, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce that it is now fully permitted for construction and operation of a 70,000 tons per day integrated open pit and underground mine at its Pumpkin Hollow Copper Project (“the Project”).

On August 9, 2015, the appeal period for the outstanding revised reclamation permit expired.  No appeals were filed and this final permit is now effective as of August 14, 2015. The revised reclamation permit was the final outstanding permit required for construction and operation of the Project.

Giulio T. Bonifacio, President and CEO commented: “Achievement of a fully permitted project is an enormous achievement and, for Pumpkin Hollow, is the culmination of years of effort by many people.

“Pumpkin Hollow has a long life and low operating cost, confirmed by our recently-completed Integrated Feasibility Study with additional upside as demonstrated by recent drilling results.  What makes Pumpkin Hollow truly unique, however, is that it is now a fully-permitted copper project located in Nevada – one of the best mining jurisdictions in the world.  This makes Pumpkin Hollow an attractive and scarce copper asset.”

Additional Information

The Project, located near Yerington Nevada, is 100%-owned by Nevada Copper. The Project currently has proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounce ounces of gold and 27.6 million ounces of silver. The Company continues to advance financing options and expects that these developments will further enhance those opportunities.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

NEVADA COPPER CORP.

  

Giulio T. Bonifacio, President & CEO

 

Cautionary Language

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: management’s expectations of completion of the permitting and land acquisition by Q3-2015,  expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  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 the actual industry results, to be materially different from any 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: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

PHNEWS RELEASE

TSX: NCU

 NEVADA COPPER RECEIVES AIR POLLUTION CONTROL PERMIT

 July 31, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is very pleased to provide an update on progress of permitting with the Nevada Division of Environmental Protection (“NDEP”) – Bureau of Air Pollution Control (“BAPC”) for its 100%-owned Pumpkin Hollow project located near Yerington, Nevada.

On July 30, 2015, BAPC issued the revised Class II air quality operating control permit for a 70,000 tons per day underground and open pit mines feeding a single copper concentrator (“Integrated Project”). This is in addition to the current air permit, which will be retained, for a stand-alone 6,500 ton per day underground concentrator.  The air quality permit covers particulate emissions, electrical generators and fugitive dust.  Since the estimated emissions for any one pollutant are less than 100 tons per year, Pumpkin Hollow is classified as a minor source (Class II). The Integrated Project does not involve any hazardous emissions of criteria pollutants from thermal or chemical processes.

Timothy M. Dyhr, Vice President of Environment and External Relations commented: “Receipt of the air quality permit is a significant milestone.  Our reclamation permit is also near completion with the close of the public comment period on July 24th. No comments were received by NDEP.  Therefore, the Company expects to receive the reclamation permit in early August.  At that time, we will have all of the necessary State environmental permits to develop the much larger open pit and underground operation.”

 With full oversight from NDEP, the Company continues to address all aspects of environmental protection – air, water, waste, reclamation, cultural resources, spill prevention and control, drinking water and storm water.

Previously, the Company announced (News Release July 17, 2015) that the Bureau of Land Management (“BLM”) issued the Decision Record and Finding of No Significant Impact that fulfills the environmental review for the Congressionally-mandated Yerington Land Conveyance. Upon completion of a 30-day notice period, the BLM can issue a “patent”, or property deed, to the City of Yerington (the “City”). The land acquisition remains on track for a Q3 2015 closing.  The Company continues to work closely with the City and the BLM on the patent and payment for the land to finalize the conveyance.  Subsequently, the City will re-convey a major portion of those lands to Nevada Copper.

Additional Information

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

 

NEVADA COPPER CORP.

 

 Giulio T. Bonifacio, President & CEO

 

Cautionary Language

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: management’s expectations of completion of the permitting and land acquisition by Q3-2015,  expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  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 the actual industry results, to be materially different from any 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: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

Nevada Copper Pumpkin Hollow Project hosted a Public Presentation on July 22

Pumpkin Hollow Project staff met with the local community on July 22, 2015 at 6 PM in the Pioneer Crossing Convention Center for an update on the progress of the Project and revised feasibility study.  Tim Dyhr, Vice President of Environment & External Relations gave a PowerPoint presentation full of updates and information on the Pumpkin Hollow Project with a Q&A session to an audience of over one hundred (100) people.  Seven (7) station tables were set up with Nevada Copper managers and staff to answer questions regarding; Mining, Engineering & Construction, Procurement, Safety, Environment, Processing and Geology.

Key accomplishments to date include:

  • Completed production headframe and hoist
  • Completed 24-foot diameter production-sized shaft to 1900 feet below ground
  • Developed 500+ feet of underground drift on the 1900 haulage level
  • Commenced underground drilling from two stations on the 1900 level
  • Installed electrical substation, ventilation fans, dewatering pumps and other underground infrastructure in the 1900 level
  • Resumed surface drilling in the two open pit zones of the project
  • Completed the “Integrated Feasibility Study” for open pit and underground mining operations with a single 70,000 ton per day processing facility (concentrator) which included;
  • Added drill results from drilling not included in the previous feasibility studies
  • Added improvements to construction, mining and processing

Tim Dyhr pointed out the tasks and steps the Pumpkin Hollow Project must first complete before production can begin:

  • Finalize the land conveyance and state permitting
  • Secure financing for the project
  • Complete the main production shaft to 2,160 feet below the surface
  • Sink a second ventilation and emergency egress shaft
  • Develop the underground mine access drifts
  • Construct processing facilities
  • Construct water, power and road access, as well as shops and offices
  • Recruit and train a workforce for mining and milling operations
  • Obtain and assemble mine shovels, excavators and haul trucks and other equipment for mining
  • Initiate underground and open pit mining

A Safety Award “shout out” was also announced by Tim Dyhr.

Cementation, USA, Nevada Copper’s underground shaft sinking contractor, tied for first (1st) place in the Nevada Mining Association 2015 Safety Awards in the ‘Safety, Contractors’ category.   Nevada Copper, the Pumpkin Hollow Project also tied for first (1st) place in the Safety Underground Category for mine developments up to 99 employees.

http://www.nevadamining.org/safety/2015-safety-awards-release.pdf

TDyhrPres20150722

Tim Dyhr, Vice President of Environment and External Relations for Nevada Copper gives an informational updated presentation to the public.

NCU-PublicPres20150722

Greg French, Vice President Exploration and Project Development and Project Geologist, Korin Carpenter answer questions about geology and exploration at Pumpkin Hollow.

Greg French, Vice President of Exploration and Project Development and Project Geologist, Korin Carpenter answer questions about geology and exploration at Pumpkin Hollow.

The presentation also highlighted the extensive environmental studies that have been undertaken to design and operate the project in order to meet high environmental standards, as well as the environmental permitting, management and monitoring work that is ongoing to protect surface water and groundwater. Detailed reclamation plans and performance bonding (to ensure the safe and professional closure and reclamation of the mine upon completion of mining) is required before the project can be built.  These plans must be reviewed every three years by the Nevada Division of Environmental Protection.  The Yerington land conveyance, as directed by Congress, will also provide distinct opportunities to convert, rather than demolish, mine facilities such as buildings, power lines, water supply and wastewater treatment, and roads for other economic uses upon completion of mining.

MW12-WaterSample20150716rkm

Environmental Specialists Tim Leedy and Mark Hanley conduct groundwater sampling and monitoring seven days a week. Four people are presently employed at Pumpkin Hollow to manage the environmental aspects of the project including a network of 25 monitoring wells.  As the project transitions to production, additional management and monitoring will be conducted on air, water, mine rock, tailings and waste to insure that environmental resources are protected.

PumpkinHollowNEWS RELEASE

TSX: NCU

NEVADA COPPER RECEIVES DECISION RECORD ON

YERINGTON LAND CONVEYANCE

 July 17, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is very pleased to provide an update on progress of the Yerington Land Conveyance.

On July 16, 2015, the Federal Bureau of Land Management (“BLM”) issued a Finding of No Significant Impact (“FONSI”) and issued a Decision Record with respect to the congressionally-mandated conveyance of lands to the City of Yerington.  Upon completion of a 30-day notice period, the BLM will be able to issue a “patent” to the City of Yerington.  A patent document records the sale of land from the Federal government to another entity, in this case, the City of Yerington and is the deed that permanently transfers all right, title and interest to municipal, and ultimately private ownership, no longer subject to federal permitting.

The land conveyance was authorized on December 19, 2014 in Section 3009 of the National Defense Authorization Act.  This legislation directed the sale of approximately 10,000 acres of land, for fair market value, from the federal government to the City of Yerington (“Yerington” or “City”).  In order to execute the conveyance, the BLM needed to complete a number of administrative steps including an environmental assessment, cultural resource study, land boundary survey, identification of any valid and existing rights, a land appraisal and patent documents. Issuance of the FONSI and Decision Record is the final step before patents are issued.

 Timothy M. Dyhr, Vice President Environment and External Relations, commented, “Issuance of the FONSI and Decision Record was the culmination of an extraordinary effort by a BLM interdisciplinary resource team supported by external experts, the City, and Nevada Copper.”

Based upon the land boundary surveys performed by BLM, the final acreage to be conveyed is 10,050 acres. Under an agreement with the City, Nevada Copper will be deeded approximately 9,100 acres for mine and other development at no additional cost.  Combined with 1,550 acres of private lands it currently controls, the Company will have approximately 11,600 acres (18.1 square miles) of private land that encompasses 100% of the current proposed Integrated Project (see News Releases dated May 28, 2015 and July 9, 2015). In addition, the Company controls 4,740 acres of unpatented mining claims outside conveyance area, for a total land position of 15,420 acres (25.5 square miles).

Once the land has been conveyed, Nevada Copper can proceed to develop the large 70,000 tons/day Integrated Project, subject to financing and State of Nevada permits and regulations. In this regard, Nevada Copper has already obtained permits from the Nevada Division of Environmental Protection, including two water pollution control permits that cover underground and open pit processing components of the Integrated Project; and, a reclamation permit and an air permit for the underground mine that are currently being amended to include the Integrated Project open pits and the 70,000 ton per day process facility.

 Additional Information

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

 

NEVADA COPPER CORP.

 

 Giulio T. Bonifacio, President & CEO

 

Cautionary Language

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: management’s expectations of completion of the permitting and land acquisition by Q3-2015,  expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  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 the actual industry results, to be materially different from any 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: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

4-Nevada-Copper-Inc.-Pumpkin-Hollow-Project-570x257RIGHT PLACE.   RIGHT TIME.    RIGHT PEOPLE.   RIGHT WAY.

RIGHT FOR YERINGTON

 

NEVADA COPPER PUBLIC INFORMATION MEETING

JULY 22, 2015 – 6 PM – Pioneer Crossing Convention Center

 

Please join us for a public information meeting to learn about the Pumpkin Hollow Project.

On Thursday, July 9, Nevada Copper Corp. published a revised feasibility study that describes an integrated open pit and underground mine with a 70,000 ton per day process plant. Combined with the passage of the Yerington Land Conveyance by Congress in December 2014, the company sees the opportunity to develop the Integrated Project (2 mines, one mill) instead of a smaller underground mine and mill first and then a second open pit mine and mill.  The Integrated Project greatly enhances the attractiveness of and opportunity to finance the bigger project.  At the same time we have nearly completed receipt of all necessary permits to develop the integrated project.

With all of this progress, we believe it is a good time to conduct a public information meeting to let the local community know all the things we are doing and will be doing.  This includes safety, environmental and reclamation programs, management and use of groundwater and surface water, construction, mining and processing operations, and the most frequently asked questions about jobs, training and hiring.

Our goal is to ensure our mine is the safest and most productive mine with minimal impact on the environment.  We intend to convert mine facilities to other future economic uses and reclaim mine rock and tailings storage areas, and restore natural vegetation ……  A responsible approach to mining. 

Before Nevada Copper begins production and makes its first penny from copper, it needs to invest $1 billion!

We first must:

  • Complete the land conveyance and state permitting
  • Secure financing for the project
  • Complete the main production shaft to 2,160 feet below the surface
  • Sink a second ventilation-emergency egress shaft
  • Develop the underground mine access drifts (or tunnels)
  • Construct processing facilities
  • Construct water, power and road access, as well as shops and offices
  • Recruit and train a workforce for mining and milling operations
  • Obtain and assemble mine shovels, excavators and haul trucks and other equipment for mining
  • Initiate underground and open pit mining

All of Nevada will benefit from the taxes and jobs created by the Pumpkin Hollow Mine Project. Over the period of active production, the Integrated Project would create approximately 900-1,000 direct jobs. In addition, the mine will employ contractors (indirect jobs) and create other “induced” jobs such as local retail or service businesses, teachers and other public services. Total direct, indirect and induced jobs created by this project are estimated to be 3,000-3,500.

We at Nevada Copper, Pumpkin Hollow Project are committed to an on-going consultation with the Yerington community and to provide updated information on the progress of our project as it moves along.

“Right Place. Right Time. Right People. Right Way.”

 

 

DrillRig2015NEWS RELEASES

May 28, 2015
Nevada Copper Announces Positive Feasibility Study Results


May 28, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper”) (the “Company”) is pleased to announce the results of its National Instrument 43-101 (“NI 43-101”) Technical Report Integrated Feasibility Study (“IFS”) for its 100% owned Pumpkin Hollow Copper Project located near Yerington, Nevada.The IFS was prepared under the direction of Tetra Tech, Inc. (“Tetra Tech”) with Stantec Consulting Services Inc. (“Stantec”) having responsibility for the detailed underground mine design and underground capital cost estimation. Tetra Tech and Stantec are both industry-leading international engineering firms.

Highlights of the Integrated Feasibility Study (All dollar amounts are stated in United States currency):

    • Long mine life of 23 years with low-risk profile located in an ideal mining jurisdiction close to existing infrastructure, an increase of 5 years from the first published integrated feasibility study, with production ramp-up targeted for 2018;
    • Assuming the Base Case of US$3.15 copper, US$1,200 gold and US$18 silver, the Integrated Project generates Life-of-Mine (“LOM”) after-tax net cash flow of US$2.6 billion, NPV@5% of US$1.1 billion, an after-tax IRR of 15.5% with 4.9 year payback;
    • Significant LOM metal production of 4.5 billion pounds (2.05 million tonnes) of copper, 512,000 ounces of gold and 15.6 million ounces of silver in a quality copper concentrate. Average annual copper production of 275 million pounds in years 1 to 5;
    • The project development consists of a 63,500 tons/day open pit mine and 6,500 tons/day underground mine, feeding a single 70,000 tons/day concentrator, generating substantial annual cash flow over LOM;
    • Proven and Probable Mineral Reserves, including open pit and underground mineable, are 572 million tons of ore grading 0.47% copper equivalent1, containing 5.05 billion pounds of copper, 761,000 ounces of gold and 27.6 million ounces of silver;
    • Initial capital costs are estimated to be $1.07 billion including contingencies, excluding working capital of $34 million. Sustaining LOM capital is $0.64 billion;
    • Low LOM site operating costs of $11.59 per ton of ore-milled (Year 1 to 5 – C1 Production Costs at $1.49/lb. payable copper);
    • The IFS includes drilling data to 2011 for the underground deposits and 2013 for the open pit deposits. Further upside and optimization potential exists from current planned drilling in 2015 which is not included in the current IFS;
    • The IFS confirms the technical and financial viability of constructing and operating a 70,000 tons/day copper mining and processing operation at Pumpkin Hollow comprising a single large concentrator with mill feed from both open pit and underground operation.

1The copper grade equivalency was determined using Base Case metals prices and metallurgical recoveries of 89.3%, 67.3% and 56.3% for copper, gold and silver respectively

Annual copper production in concentrates and C1 operating costs:

Units Years 1-5* Years 1-10* LOM (Average)
Copper in Concentrates 000s lbs./yr. 274,700 246,300 198,200
Copper in Concentrates Tonnes/yr. 124,600 111,700 89,900
C1 Production Costs $/lb payable copper $1.49 $1.68 $1.73

* Note starting post ramp-up

Summary of Economic Results:

Low Case Base Case   High Case
Copper Price $/lb $2.85 $3.15 $3.75
Gold Price $/oz $1,200 $1,200 $1,200
Silver Price $/oz $18 $18 $18
(In Millions of US Dollars)
Net Smelter Revenue, after royalty $10,768 $11,990 $14,434
Net Cash Flow Pre-tax $1,917 $3,079 $5,402
Net Cash Flow After-tax $1,654 $2,583 $4,309
Annual Net Cash Flow Yr. 1-5 avg. $191 $248 $353
Pre-tax Operating Margin* Yr. 1-5 avg. $319 $393 $542
NPV 5% Pre-tax $695 $1,398 $2,804
NPV 5% After-tax $560 $1,129 $2,178
IRR Pre-tax 11.4% 17.3% 28.1%
IRR After-tax 10.4% 15.5% 24.1%
Payback – years Pre-tax 7.6 4.4 2.9
Payback – years After-tax 8.1 4.9 3.3

* Note: Net revenues less smelter charges, concentrate transport and site operating costs.

Giulio Bonifacio, President & CEO commented: “The updated Integrated Feasibility Study reported today encompasses a project that has over the last number of years been de-risked significantly with: permits for the larger operation expected shortly by way of the passage of the land bill by the United States Congress, substantial value added engineering and optimization, a fully commissioned head frame, hoist and, a 24 foot diameter concrete lined production sized shaft which has been sunk to the 1,900 foot primary production level.

We are also very pleased that, while incorporating significant engineering and design changes since 2012, the Pumpkin Hollow project maintains positive economics at forecast copper prices, with further upside potential based on results from our current drilling campaign and the open extent of both the open pit and underground deposits.

Our base case feasibility results provides cumulative after-tax net cash flow of $2.6 billion demonstrating that the Pumpkin Hollow project provides investors with a low-risk copper mine with an initial mine life of 23 years with further upside. With the closing of the land transfer conveyance and receipt of modified state permits expected in the next few months, Nevada Copper will be very well positioned as a fully permitted large copper project located in an ideal mining jurisdiction close to existing infrastructure.

With the Integrated Feasibility Study results in hand, and permits expected shortly, we will move to assess project financing alternatives and advance discussions currently underway. We will continue to assess our financing options with respect to both the Integrated Project as well as the fully-permitted Stage 1 underground operation and will determine the optimal development strategy upon receipt the final permits for the Integrated Project, which are expected in Q3 2015.”

Project Upside
Project upside and opportunities include the following:

Resource expansion
Drilling in 2012 and more recently in 2015 has demonstrated the potential for material extensions to the known mineral inventories at Pumpkin Hollow, particularly the North open pit deposit. Updating the mineral resource inventory to reflect this drilling, along with updated mining plans, is expected to expand the mineral resources at the project.

North Pit Expansion
Recent drilling in the connector zone between the North and South deposits continues to produce positive results and is expected to produce future mine designs where the North and South pits will continue to merge. A merged pit configuration can be expected to have a positive effect on the strip ratio, as well as improvements in pit scheduling, overburden placement and equipment utilization.

Underground Resource Expansion
Drilling has commenced from underground drill stations. This drilling will better define the higher grade areas targeted for first production and will test the boundaries of the underground resources in the East deposit. The JK34 zone which is located between the East and E2 deposits will be drilled later when the ramp between the deposits is completed.

Metallurgy
Metallurgical test work and optimization is continuing with a view to increasing copper recoveries particularly in the years of higher copper grades in the mill feed. Initial test results reflect increased recovery levels and will be followed up.

Iron
Work has been initiated to assess the metallurgy and marketability of the Pumpkin Hollow iron magnetite resources under a Memorandum of Understanding with a major international steel producer. The benefits of existing infrastructure and power costs further support the possible future benefit of processing our copper tailings to produce a byproduct iron magnetite revenue stream.

Background
The IFS builds upon the results of three previous feasibility studies, beginning with an integrated feasibility study published in January 2012 that considered open pit and underground deposits feeding a single 67,500 tons/day copper concentrator.

In 2012, the Company determined that a standalone 6,500 tons/day underground mine could be permitted under State regulations on private lands within a shorter timeline. As a result the Company commissioned a second feasibility study to support a stand-alone underground operation (“Stage 1”) with results published in November 2012. All State permits were received for the underground operation in September 2013.

A third feasibility study evaluated the open pit operation as a separate standalone 70,000 tons/day open pit mine and concentrator (“Stage 2”) with results published in October 2013.

In late 2014 the Yerington land bill (“Land Bill”) was passed by the United States Congress and signed into law by President Obama. The passage of the Land Bill represented a very significant milestone for the Company as it accelerated the permitting timeline for a 70,000 tons/day open pit and underground operation with all permits and land transfer targeted for completion in Q3-2015. As a result the Company commissioned and updated its integrated feasibility study to include the information from additional open pit drilling, optimized resource modelling and engineering work completed between 2011 and 2015. New capital and operating cost estimates were also developed to reflect current market conditions resulting from the recent slowdown in the mining sector.

Project Description Summary
The proposed Pumpkin Hollow project development will consist of a single nominal 70,000 tons/day (63,500 tonnes/day) copper concentrator with dual sources of mill feed from adjacent open pit 63,500 tons/day (57,600 tonnes/day) and underground operations 6,500 tons/day (5,900 tonnes/day).

Existing underground infrastructure includes a 12 foot diameter Nordberg double drum hoist, a production sized head frame, maintenance shop, warehouse, dry, and a 24 foot diameter concrete lined shaft. The shaft is sunk to the 1,900 foot primary production level from which lateral development is progressing towards the East ore zone. Definition drilling is underway from underground cutouts. This drilling will provide better definition of the higher grade stopes targeted for early mining and will also test ore body boundaries for expansion. Mining from underground will commence initially from the East deposit while horizontal access is established to the E2 deposit via 3,500 foot (1,067 meter) long drift. Ore mined from both East and E2 stopes will be delivered to an underground jaw crusher located near the East shaft. Crushed ore will be hoisted to surface via the existing shaft. Once at surface, the high grade underground ore will be trucked approximately 3 miles (4 kilometers) west to the flotation mill. The mill is located adjacent to the North and South open pit deposits. Mining will continue underground for approximately 15 years, when the currently-known reserves will be exhausted, after which 100% of the mill feed will be from the open pits.

The open pit ore zones comprise the North and South deposits. Mining will commence with pre-stripping of the North Deposit. Mining will continue at the North Deposit for approximately 13 years then transition to the South Deposit. Mining is a conventional truck-and-shovel operation with electric cable shovels and 400 ton class haul trucks. Ore is mined and delivered to a primary gyratory crusher located adjacent to the North pit and then conveyed to the mill.

Open pit and underground ore is fed from the stockpile reclaim system to a copper process facility consisting of a conventional semi-autogenous (SAG)/ball mill grinding circuit incorporating cyclones for classification, rougher flotation circuit, rougher concentrate regrinding circuit, cleaners, and cleaner scavenger flotation circuits, concentrate thickening and filtration circuits, including a concentrate holding and dispatch area. Tailings are thickened and then pass through five parallel pressure filtration circuits for disposal at a dry-stack storage facility. A paste-backfill tailings processing facility, including a paste thickener, provides for underground backfill when needed.

The project’s copper concentrates containing gold and silver are considered clean and marketable. They will be trucked approximately 20 miles (30 kilometers) to a new rail loading facility on Union Pacific tracks. The truck route is via a new mine access road north to State Highway 95A and on to the train loading facility. Concentrates will be railed to a west coast bulk port for shipping to smelters.

Power will be delivered to the project substation by a new 5 mile (8 kilometer) 120kV transmission line connecting to Nevada Energy’s existing line to the east. Currently the project is serviced by a smaller 20kV line accessing the grid to the west. Project water requirements are fully met by water rights held by the Company and a water supply agreement with the City of Yerington as an industrial user. The incorporation of dry stack tailings storage permits a high percentage of water recycling and minimizes makeup water requirements.

Ownership and Permits
The Pumpkin Hollow project currently encompasses private land and unpatented mining claims controlled by Nevada Copper. The claims are located on Bureau of Land Management (“BLM”) administered Federal lands. This mixed land ownership will change to 100% private land, owned by Nevada Copper, on closing of the land acquisition between the BLM and the City of Yerington targeted in Q3-2015. The legislation directing the sale of this land was signed into law by President Obama in December 2014.

In parallel with the land acquisition now in progress, Nevada Copper is completing the modifications required of our current State permits to allow for full construction and operations of the 70,000 tons/day concentrator and associated mining. This permitting is expected to be completed in Q3-2015.

Development Schedule
At the East underground zone, a production sized hoist is operational along with the permanent head frame. A 24 foot diameter concrete lined production/service shaft has been completed to the 1,900 main haulage level and lateral development sufficient to provide drill stations is underway. Sinking of a ventilation shaft is a critical path activity for the underground development and would start immediately upon securing of financing.

Assuming project financing is secured by Q3-2015, critical activities such as engagement of an EPCM contractor, start of detailed engineering, ordering of key long-lead-time mining and process equipment, and establishment of a high voltage power line connection would commence in the second half of 2015. Pre-stripping the North deposit would be scheduled for 2016 once the equipment fleet has been delivered. Site preparation for the surface facilities would start in early 2016. Under the schedule assumptions above, mill ramp up would commence in early 2018.

Mineral Reserve
Proven and Probable mineral reserves are the economically-mineable portions of the Measured and Indicated mineral resources, respectively, as disclosed in the IFS.

The Proven and Probable mineral reserves at Pumpkin Hollow are summarized below:

Mineral Reserves Western Open Pit Deposits
Ore Copper Gold Silver Contained
Copper
Contained
Gold
Contained
Silver
Cu Equiv
Classification 000’s tons % Oz./ton Oz./ton 000s lbs. Ozs. Ozs. %
North Deposit
Proven 122,403 0.479 0.001 0.056 1,172,749 174,708 6,861,605 0.51
Probable 178,241 0.422 0.001 0.051 1,504,814 178,241 9,096,741 0.45
Total 300,644 0.445 0.001 0.053 2,677,563 352,949 15,958,346 0.47
South Deposit
Proven 143,117 0.328 0.001 0.038 937,826 143,117 5,374,544 0.35
Probable 95,524 0.312 0.001 0.027 595,121 95,524 2,606,314 0.33
Total 238,641 0.321 0.001 0.033 1,532,947 238,641 7,980,858 0.34
Total Western Open Pit Deposits
Proven 265,520 0.397 0.001 0.046 2,110,575 317,825 12,236,149 0.42
Probable 273,765 0.384 0.001 0.043 2,099,935 273,765 11,703,055 0.41
Total 539,285 0.390 0.001 0.044 4,210,510 591,590 23,939,204 0.41
Mineral Reserves – Eastern Underground Deposits
Ore Copper Gold Silver Contained Copper Contained Gold Contained Silver Cu Equiv.
Classification 000’s tons % Oz./ton Oz./ton 000s lbs. Ozs. Ozs. %
Proven 8,923 1.587 0.006 0.124 283,224 53,131 1,109,132 1.70
Probable 23,680 1.174 0.005 0.109 555,934 115,864 2,588,637 1.20
 Total 32,603 1.287 0.005 0.113 839,158 168,995 3,697,769 1.38
Mineral Reserves Open Pit & Eastern Underground Deposits
Ore Copper Gold Silver Contained  Copper Contained  Gold Contained  Silver Cu Equiv.
Classification 000’s tons % Oz./ton Oz./ton 000s lbs. Ozs. Ozs. %
Proven 274,443 0.436 0.001 0.049 2,393,799 370,956 13,345,281 0.46
Probable 297,445 0.446 0.001 0.048 2,655,869 389,629 14,291,692 0.47
 Total 571,888 0.441 0.001 0.048 5,049,668 760,585 27,636,973 0.47

Notes:

  1. Totals may not add due to rounding.
  2. Mineral reserves are as of an effective date of April 15, 2015
  3. The mineral reserves and mine plans for the open pit deposits were determined using cutoff grades developed by Tetra Tech as appropriate for the mining method and costs associated with the deposits. For the Western deposit open pits the mineral reserves, mining method, and costs associated with the deposit were developed by Tetra Tech. The breakeven copper cutoff grades used were 0.156% and 0.159% for the North and South deposits respectively. The eastern underground deposits mineral reserves, mining method and associated with the deposit were developed by Stantec and Nevada Copper. The underground reserve used a $29/ton NSR cutoff developed using metals prices of $3.00/lb, $1,250/oz and $18/oz for copper gold and silver respectively.
  4. Metal prices for the open pit copper, gold and silver assumed were $3.15/lb, $1,200/oz. and 18/oz. respectively. Tetra Tech is the independent Qualified Person who is responsible for the western deposit mineral reserve estimate. Stantec is the independent Qualified Person who is responsible for the eastern deposit mineral reserve estimate. The copper equivalency was determined using Base Case metals prices and metallurgical recoveries of 89.3%, 67.3% and 56.3% for copper, gold and silver respectively.

Mining
Concurrent development of open pit and underground operations was selected in order to maximize the overall recovery of copper from the Pumpkin Hollow deposits and to yield the best economic results.

The open pit deposits will be developed sequentially. The North open pit deposit will be developed first, starting with a pre-strip once mining equipment has arrived and been assembled at site, and when electric power is available to the shovel. Open pit mill feed will come from the North deposit for the first 13 years when mining will transition to the South deposit.

The East underground deposit will be developed first via the existing East shaft. All underground production (6,500 ton/day) will come initially from the East deposit while access is developed towards the E2 deposit to the south. E2 development will occur from underground by way of a 3,500 foot (1,067 meter) ramp from the East zone. Ventilation and secondary egress shafts will be constructed for both East and E2 zones when required.

Process Plant
Ore will be transported from the open pit and underground mines to a nominal 70,000 ton/day (63,500 tonne/day) concentrator located west of the open pits. Open pit ores are trucked from the pit to a surface crusher before conveyance to the stockpile at the process facility. Underground ore is crushed underground, hoisted to surface via an existing 24-foot diameter production/service shaft and transported overland approximately 3 miles (4 kilometers) by truck to the process facility. Underground and open pit ores are fed separately into the mill via conveyor.

The concentration circuit is conventional with a single, large SAG grinding mill and two secondary ball mills with subsequent flotation, followed by thickening and pressure filtration to produce a final concentrate grading 25.5% copper and containing payable gold and silver. Primary grind size is 150 microns with an overall copper recovery of 89.3%. Gold and silver recoveries to the copper concentrates are 67.3% and 56.3% respectively.

Metals Production
Projected metals production to the copper concentrate is summarized below. LOM copper recovered to concentrates is 4.5 billion pounds (2.05 million tonnes).

Description Units Years 1-5* Years 1-10* LOM LOM
Annual Average Annual Average Annual Average Total
Mill Copper Feed Grades % 0.605% 0.541% 0.441% n/a
Mill Copper Feed Grades % Cu equiv. 0.64% 0.58% 0.47% n/a
Copper Concentrate Production Tons/year 538,555 483,014 388,654 8,841,872
Copper Concentrate Production Tonnes/year 488,569 438,182 352,581 8,021,211
Copper in Concentrate Klbs./year 274,700 246,300 198,200 4,509,355
Copper in Concentrate Tonnes/year 124,600 111,700 89,900 2,045,409
Gold in Cu Concentrate Ozs./year 30,209 26,384 22,500 511,872
Silver in Cu Concentrate Ozs./year 934,009 880,889 683,939 15,559,615

*Note: post ramp-up period

Tailings Storage
To minimize water usage, concentrator tailings will be de-watered, pressure filtered and conveyed to a dry-stack storage facility located east of the open pits and west of the shaft location. The recovered water is then recycled to the process plant. This method is considered best practice for long term tailings storage in dry environments with limited water resources. Compared to operations with traditional tailings impoundments, dry stack tailing storage also has a much lower footprint, lowers reclamation and long term environmental monitoring costs.

Infrastructure
The project area is well supplied with nearby local infrastructure. Project-related infrastructure expenditures include a new 5 mile (8 kilometer) 120kV power line and related substation connecting to an existing power line located east of the project. An existing State road 827 services the project site from the west. During operations, a new 5-mile (8 kilometer) mine access road will connect the site to State Highway 95A to the North, and thence to a rail load-out facility located on Union Pacific tracks. The rail tracks run approximately 13 miles (20 miles by road) north of the project and connect with Union Pacific mainline tracks at Fernley, Nevada for transport to west coast ports.

Process make-up water will be delivered from wells on site or piped 6 miles (10 kilometers) from an existing pipeline takeoff point. This water pipeline, which is connected to the City of Yerington water supply, is shared with an existing user but has been oversized to allow for Nevada Copper’s future usage.

Yerington is the county seat for Lyon County, where housing and regional services are available and most employees are expected to reside. The communities of Silver Springs, Smith Valley, Fernley, Dayton, Fallon, Carson City and Hawthorne are also all within commuting distance, and have a labour pool and existing housing, particularly for a construction workforce.

Capital Costs
The project initial capital costs are estimated at $1.07 billion with an accuracy of plus/minus 15% as of March 2015, including an initial contingency of $69 million. The contingency allowance is calculated based on assessed factors for each of the major Direct and Indirect cost categories.

The major direct cost items include development of the East underground mine, open pit mine equipment, leasing costs, North deposit pre-stripping, process plant, tailing storage facility, site infrastructure and offsite rail load-out facility. Indirect costs include such major areas as engineering and procurement, construction management, construction in-directs, freight and commissioning, spares inventory, first fills, and Owners Costs.

Initial Sustaining Total
Area US$M US$M US$M
Open Pit Mine $288 $240 $528
Underground Mine 82 143 225
Ore Handling 12 3 15
Process Facility 268 52 320
Dry Stack Tailings Storage 69 79 148
Infrastructure 88 0 88
Water Management 18 1 19
Environmental & Reclamation 12 42 54
   Subtotal Directs 837 560 1,397
Construction Indirects 67 33 100
Spares & Warehouse Inventory 10 2 12
Initial Fills 5 5
Freight & Logistics 15 1 16
Commissioning & Start-Up 2 2
EPCM 58 58
Vendor & Consulting Assistance 1 1
   Subtotal In-directs 158 36 194
Contingency 69 39 108
Owner Costs 7 7
Total Capital $1,071 $635 $1,706

Note: totals may not add due to rounding

Working capital required for initial operations is estimated to be $34 million.

LOM sustaining capital totals $0.64 billion and includes development costs associated with the E2 underground deposit and related equipment; South open pit deposit development costs; replacement of, and additions to, surface mobile equipment; lease costs for the initial mining fleet; reclamation costs; and expenditures on the tailings storage facility.

Concentrate Marketing
Copper concentrate treatment and refining charges are based on long term assumed rates of $65/tonne of concentrates and $0.065/lb-payable copper. Copper payment factor assumed is 96.5% with a minimum 1 unit deduction. Gold and silver pay factors assume Asian smelter norms and are dependent on grades in concentrates.

Transportation costs from the mine site via rail to a west coast USA port and then by ship to Asia is assumed to be $89.31/wet ton ($98.45/wet tonne) of concentrate.

Operating Costs
LOM site unit operating cash costs, net of capitalized pre-stripping and other predevelopment costs, are $11.59 per ton-milled, as summarized in the table below:

LOM Unit Operating Cost Summary
Area $/ton-milled
Open Pit  Mining $4.81
Underground Mining 1.47
Processing 4.73
Tailings & Water Management 0.17
Environmental 0.01
G&A 0.40
Total LOM Site Operating Costs $11.59  

Note: The cost of operating leases adds $0.70/ton.

A power cost of $0.065/kwh was used for IFS purposes, based on NV Energy expected rates.

Unit open pit mining cash costs average $5.10 per ton of open pit ore mined and milled. This equates to $1.11 per ton of open pit material mined, including waste and ore. Average LOM strip ratio for the North and South deposits is 3.59. Underground mining costs average $24.60 per ton of underground ore mined, excluding $1.25 for truck transport of ore to concentrator.

LOM Unit Mining Costs
Open Pit Underground
($/ton of open pit ore mined) ($/ton of underground ore mined)
$5.10/ton $24.60/ton

Royalties and Nevada Mining Taxes – The economic results include the costs of a royalty payable to RGGS Land & Minerals, LTD, L.P. (“RGGS”), the lessor of the majority of the mineral rights being exploited. RGGS is entitled to a sliding scale royalty on net smelter returns from copper. The royalty rate is 6% if copper prices exceed $2 per pound. On gold and silver, the royalty rate is 5% of net smelter returns attributable to gold and silver.

Nevada Net Proceeds of Mining Tax are based on net proceeds from mining operations as defined. Net proceeds are equivalent to net profits after operating costs, royalties and depreciation. For net proceeds over $4 million per year, the maximum 5% rate applies and this rate has been used.

Corporate Income Tax – Estimated US Federal income taxes payable were calculated utilizing existing tax pools of Nevada Copper’s US subsidiary. The State of Nevada does not impose state income tax.

Economic Analysis Summary
The project economics were evaluated using a cash flow analysis, whereby revenues and costs are projected into the future on an annual basis. Annual net cash flows are then discounted at a rate of interest to reflect the time value of money to yield a Net Present Value (“NPV”). The analysis includes all site operating costs, royalties, smelter charges, concentrate transport costs, and estimates of the Nevada Net Proceeds of Mining tax and US Federal income tax. There are no Nevada State income taxes.

The most significant variable which affects project economics are projected future copper prices. On May 12, 2015, the spot cash LME copper price was $2.92 per pound, and the three and five year trailing averages copper price were $3.21 per pound and $3.44 per pound respectively.

A Base Case copper price of $3.15/lb. was selected using the average long term “consensus” prices from a number of sources including investment banks, the World Bank, and Bloomberg. The base case metals prices used in other recent NI 43-101 technical reports were also considered.

Summary of Economic Results
Key economic indicators extracted from the IFS are summarized below:

      Low Case   Base Case   High Case
Copper Price $/lb $2.85 $3.15 $3.75
Gold Price $/oz $1,200 $1,200 $1,200
Silver Price $/oz $18 $18 $18
(In Millions of US Dollars)
Net Smelter Revenue, after royalty $10,768 $11,990 $14,434
Net Cash Flow Pre-tax $1,917 $3,079 $5,402
Net Cash Flow After-tax $1,654 $2,583 $4,309
Annual Net Cash Flow Yr. 1-5 avg. $191 $248 $353
Pre-tax Operating Margin* Yr. 1-5 avg. $319 $393 $542
NPV 5% Pre-tax $695 $1,398 $2,804
NPV 5% After-tax $560 $1,129 $2,178
IRR Pre-tax 11.4% 17.3% 28.1%
IRR After-tax 10.4% 15.5% 24.1%
Payback – years Pre-tax 7.6 4.4 2.9
Payback – years After-tax 8.1 4.9 3.3

* Note: Net revenues less smelter charges, concentrate transport and site operating costs.

Qualified Persons
In November 2014 Nevada Copper commissioned Tetra Tech and Stantec to complete an updated Pumpkin Hollow Project Integrated Feasibility Study Technical Report in accordance with NI 43-101. The scientific and technical information in this release has been reviewed and approved by Mr. Ed Lips, PE, of Tetra Tech, who is overall manager for the IFS and who is an Independent Qualified Person within the meaning of NI 43-101. It has also been reviewed by Mr. Mel Lawson, SME-RM, Principal / Senior Consulting Engineer, Stantec Consulting Services Inc. who is an Independent Qualified Person within the meaning of NI 43-101.

This release was also reviewed by Gregory French, P.G., Vice-President Exploration & Project Development of Nevada Copper, Timothy D. Arnold, PE, Vice President of Operations and Robert McKnight, P. Eng., Executive Vice-President of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

Readers should refer to the IFS Technical Report for further details of the project development. The IFS Technical Report will be filed in accordance with NI 43-101 on SEDAR (www.sedar.com)

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

Cautionary Language
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, including the likelihood of commercial mining, securing a strategic partner, expanding the mineral resources and mineral reserves and possible future financings are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: Nevada Copper Corp. (the “Company”) plans at the Pumpkin Hollow Project; the timing of granting of key permits; from the IFS: the estimated metal production and the timing thereof; capital and operating costs, future metal prices, cash flow estimates, and economic indicators derived from the foregoing.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters. 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 the actual industry results, to be materially different from any 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: history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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; 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.

Alternative Performance Measures

“Copper Production Costs”, “LOM Operating Costs”, “LOM site unit operating costs”, “C1 Production Costs” and similar terms are +alternative performance measures. These performance measures are included because these statistics are key performance measures that management may use to monitor performance. Management may use these statistics in future to assess how the Company is performing to plan and to assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a meaning within International Financial Reporting Standards (“IFRS”) and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

For further information call:
Eugene Toffolo, Corporate Communications
Phone: 604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng.,
Executive Vice President
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

 

lyon-country-lands-billNEWS RELEASE

TSX: NCU

NEVADA COPPER LAND PERMITTING AND LAND TRANSFER UPDATE

 May 13, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to provide an update on permitting, land transfer and conveyance at its 100% owned Pumpkin Hollow Project located near Yerington, Nevada.

Permitting

With completion of the land transfer and conveyance, all project activities will be regulated under Nevada State and local regulations and requirements.  Permitting for the underground mining and processing component of the project has been completed, and shaft sinking and underground development have been proceeding pursuant to the issued air, water, reclamation, including bonding, and other permits.

As of May 8, 2015 all permit applications necessary for the large open pit and underground Integrated Project have been submitted and are progressing according to plan.  This permitting involves modification of our existing State air pollution control and reclamation permits to allow for the larger open pit operation and a 70,000 tons/day concentrator. Prior to submission of those applications, Nevada Copper and its representatives have worked closely with the Nevada Division of Environmental Protection to assure that the applications met all State requirements. Modifications to the existing State permits are scheduled to be completed in Q3-2015.

Federal Land Transfer and Conveyance

Since passage by U.S. Congress of legislation (the “Act”) in December 2014 to authorize conveyance of approximately 10,400 acres of land to the City of Yerington (the “City”), Nevada Copper and the City have been working with the Bureau of Land Management (“BLM”) to expedite the land conveyance.  A Congressional decision to convey the lands is not appealable however there are several procedural reviews needed to complete the land conveyance. The BLM and the City have executed various agreements and all parties are working diligently and cooperatively to try to complete the land conveyance in Q3-2015.

Details of the activities and procedural reviews needed to complete the land conveyance are summarized below:

Land Survey, Appraisal and Patents

The BLM, with support from a Certified Federal Surveyor has completed the field survey of lands in the conveyance area, which provides the precise legal description for the deeds and the appraisal.

The Office of Valuation Services, the federal agency responsible for determining valuation, has approved a certified federal appraiser (the “contractor”) and issued appraisal instructions to the contractor. The contractor is expected to complete the appraisal by early June 2015.

The Nevada State Office of the BLM is preparing deed documents for the official conveyance.  Once these are completed a Federal Register Notice is published to notify the public of the closing of the conveyance.

Environmental Reviews

Several federal procedural reviews are needed to complete the land conveyance.  These include:

  • A National Environmental Policy Act environmental review. This relates only to the land being conveyed and is not related to Nevada Copper’s proposed mine operation or any other proposed future use of the land. The draft assessment, which has been completed and been released for public review, is expected to be finalized by early June 2015. The conveyance is nondiscretionary and under the Act the BLM must convey the lands to the City in accordance with the Act.
  • A Phase I Environmental Site Assessment – to identify any hazardous material/waste impacts and environmental conditions that may affect the property conveyance has been completed. The report did not identify any significant environmental hazards and primarily documented the presence of known exploration and historic mining activities.
  • Compliance with the National Historic Preservation Act (“NHPA”). There are no sites identified within the areas of mine development, and based on advice to the City, the BLM and the Nevada State Historic Preservation Office are working on a Memorandum of Agreement (“MOA”) to complete the NHPA review process by June 2015. Once the MOA is signed, the conveyance can be completed.

Tim Dyhr, Vice President of Environment & External Relations, commented, “We are very pleased with the progress and level of effort by the City, BLM and contractors to complete the necessary procedural aspects of the conveyance.  The City is in almost daily contact with the BLM to assure that all necessary resources are available to complete the transfer on a timely basis. The Nevada Congressional delegation is also in regular communication with the BLM to expedite the land transfer. In the meantime, we continue to advance final permitting for the open pit component of the project.”

 

NEVADA COPPER CORP.

 Giulio T. Bonifacio, President & CEO

 Cautionary Language

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: management’s expectations of completion of the permitting and land acquisition in mid-2015, expectations as to the possible results of the Integrated Feasibility Study when completed, expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  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 the actual industry results, to be materially different from any 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: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, 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:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com