Category Archives: Northern Nevada Economic Development and Conservation Act

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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

 

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.”

 

 

Timeline_Cover_doNotRename43NEWS RELEASE

TSX: NCU

Nevada Copper PUMPKIN HOLLOW project update

 February 10, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to provide an update and summary of project activities for 2015 on its 100% owned Pumpkin Hollow Copper Project (“the Project”), located near Yerington, Nevada.

Highlights:

  • Land conveyance and final permits expected by June:
    • Passage of the Yerington land bill was signed into law by President Obama on December 19,2014 and directs the conveyance of 10,400 acres of Federal land to the City of Yerington within 180 days as prescribed by law;
    • Binding agreements were executed with the City of Yerington on February 9, 2015 to formalize the details of the land conveyance from the City to Nevada Copper;
    • Nevada Copper will acquire private ownership of all Federal land surrounding Pumpkin Hollow which will consolidate the entire Project within a privately held land position where the required permits will be under State jurisdiction and not Federal; and,
    • Receipt of all key State permits for the open pit operation are expected by June by way of revisions to the current Reclamation and Air Pollution Control permits;
  • Integrated Feasibility Study launched – With the passage of the Land Bill and receipt of permits expected by June 2015, the previously announced Stage 2 Open Pit optimization and updated Feasibility Study (see November 4, 2014 News release) has been modified to allow for the inclusion of high grade supplemental mill feed from the East and E2 underground deposits (“Integrated Feasibility Study”);
  • Shaft approaching completion – At the Eastern underground development, the production sized shaft is at a current depth of 1,806 feet – over 95% complete towards the main 1,900 foot haulage level which is expected to be reached in the next few weeks;
  • Open pit and underground drilling programs:
    • 26,000 feet (7,900 meters) of drilling from underground drill stations is expected to commence in May; and,
    • 74,000 feet (22,600 meters) of open pit drilling has commenced.

Giulio Bonifacio, President and CEO, stated: “With successful passage of the Land Bill, and with open pit permits expected by June, Nevada Copper can now consider a large scale project development with a single large concentrator with mill feed from an open pit supplemented by high grade underground ore. We will continue to preserve our development options with respect to a staged development versus a single large integrated project, until such time as we have the results of the Integrated Feasibility Study and can determine our optimal strategy going forward. In either case, first production is targeted for late 2016, early 2017, subject to completion of financing arrangements.

 We are also very excited about the commencement of our open pit and underground drilling programs which will focus on enlarging the high grade zones within the current reserve, especially in areas planned for mining in the early years, and will provide additional data for mine development designs while also expanding the open mineralized areas.

 Federal Land Conveyance and Open Pit Permitting

On December 19, 2014, President Obama signed into law a bill that contained provisions directing the Secretary of the Interior to convey 10,400 acres of Federal lands surrounding the Pumpkin Hollow project to the City of Yerington by June 17, 2015 (180 days is specified in the legislation). With funding provided by the Company, the City will acquire the land and, under our agreements with them, immediately re-convey most of the land to Nevada Copper at no additional cost.

Nevada Copper is working closely with the City of Yerington to advance the Federal conveyancing process and, in expectation of a successful closing in June, is concurrently completing the revisions to the current Reclamation and Air Pollutions Control State permits for a large open pit development, setting the stage for issuance of all key open pit permits by June 2015.  All permits for the underground operation are currently in place.

 In anticipation of closing the land conveyance in June, binding agreements were executed with the City of Yerington on February 9, 2015.  These agreements formalize the funding mechanisms for the acquisition and the obligations of the City to Nevada Copper.

Integrated Feasibility Study

With passage of the Land Bill and no Federal permit requirements, the Company expects receipt of all State permits for a large Stage 2 open pit project in Q2 2015. Early delivery of these open pit development permits strongly suggests reorienting the current engineering work on the open pit feasibility study towards a single, large 70,000 tons/day concentrator with dual sources of mill feed rather than proceeding by way of a staged project (6,500 tons/day Stage 1 underground project followed by a 70,000 tons/day Stage 2 open pit project).  Mill feed will comprise an average of 63,500 tons/day of open pit ore blended with 6,500 tons/day of high grade ore from the Eastern underground deposits.

The previous open pit mining plans for the Stage 2 North open pit demonstrated a production profile with higher- than-average copper grades (0.5% to .6%) in the early years (see 2012 Stage 2 Feasibility Study filed on SEDAR).  The addition of higher grade mill feed (plus 1.75% copper) from the Eastern underground deposits will further improve mill feed grades in the important early production years.  The enhanced mill copper feed grades, coupled with elimination of the capital required for the smaller 6,500 tons/day mill proposed for the standalone Stage 1 underground project, are anticipated to provide better capital efficiency and overall better project economics.

After the Stage 2 Open Pit Feasibility Study was completed in 2013, results from 9,880 meters (32,414 feet) of additional drilling on the North Deposit were received.  In Q2-2014, the Company decided to incorporate these drill results to ascertain if the data would improve the present mine design. In particular, drill hole NC12-34 as previously disclosed in a news release dated September, 13, 2012, on the southwestern edge of the North Deposit ultimate pit intersected 690 feet (210.3 meters), 625.3 feet (190.6 meters) true thickness, grading 1.17% copper, including 150 feet grading 3.8% Another drill hole, NC13-05, disclosed in a news release dated June 17, 2013, along the western edge of the North deposit and not included in the 2013 Feasibility Study, intersected several zones including 125 feet (38.1 meters), true thickness, grading 1.45% copper. The new information resulted in an opportunity to significantly improve the grade profile and reduce mine waste rock quantities by re-evaluating the pit shell in the North Deposit.  Preliminary work to date on the mineral resource calculations and production schedule has demonstrated positive results with respect to the copper grades and copper production in the early years, as well as overall life-of-mine copper grades.

The 70,000 tons/day Integrated Feasibility Study will incorporate all available current information, including new drilling data, mine plans, engineering work and updated capital and operating costs for both the open pit and underground operations associated with this development.  Completion of the Integrated Feasibility Study is targeted for April 2015.

Readers are cautioned that until the results of the Integrated Feasibility Study are available, the implications of the copper grade, production increases, addition of high grade underground ore feed, cost updates on the Project, and the impact on Project economics, cannot be fully determined.

Eastern Underground Deposits: Main Shaft & Lateral Development Plans

The circular 24-foot diameter concrete-lined production sized shaft is currently at the 1,806 foot level – over 95% of the way towards the main 1,900 haulage level.  The shaft continues to progress through dry ground with water inflows controlled by two fully commissioned dewatering wells.

Reaching the 1,900 foot haulage level is expected in the next several weeks.  About 700 feet of lateral development will then commence on this level to establish setup locations for delineation and development drilling, and to provide for future access to the East ore zones. As lateral development continues, the shaft will be deepened to its final depth of 2,160 feet.

Open Pit and Underground Drilling

The East deposit has not been drilled since 2011 and the deposit remains open in several directions. With a reserve in excess of 13 years it was determined that additional delineation and development drilling would be more cost effective from underground drill stations once the production shaft reached the 1,900 level.

The underground drill program totaling 26,000 feet (7,900 meters) is expected to commence in May after reaching the 1,900 level in late February, and after excavation of sufficient lateral development to establish drill stations. The planned underground drill program will focus on enlarging the high grade zones within the current reserve, especially in areas planned for mining in the early years, and will provide additional data for mine development designs while expanding the open mineralized areas.

Management believes that the program has the potential to improve the overall copper production grades especially in the early years while also allowing for expansion of the combined Eastern underground copper reserve boundaries that remains open in several directions.

The open pit drill program totaling 74,000 feet (22,600 meters) has commenced with drilling results being reported as they become available.  The drill program will focus on the important “saddle zone” located between the North and South deposits and areas of the North pit that, with success, will further enhance current copper grades and reduce the strip ratio.  Drilling success in the saddle zone is expected to add copper pounds by converting into ore that which was previously considered waste due to lack of drill data.

Financing Update

Nevada Copper has a cash balance of US$36 million as at December 31, 2014. The Company also has US$110 million remaining as the undrawn portion of its Red Kite secured loan facility (see December 30, 2014 News Release).  The final draw of the latter loan facility is subject to certain conditions, including completion of the shaft and arrangement of the balance of funding of Stage 1 project capital.  Nevada Copper also has an available US$24 million Caterpillar Financial equipment lease finance facility available for mobile equipment purchases.

The Pala bridge loan facility has recently been extended to April 26, 2015.

About Nevada Copper

The Company’s advanced stage Pumpkin Hollow project in Nevada consists of a fully permitted, 6,500 tons/day underground copper mine development, with the main shaft in construction, and a nearby 70,000 tons/day open pit mine copper project with permits expected in Q2-2015.  Projected average copper production for the first five years is 75 million lbs./year from the Stage 1 underground mine, and 220 million lbs./year from the Stage 2 open pit mine.  The project is located near Yerington, Nevada, close to road, rail, and power infrastructure, and with all future water supply requirements met.

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: management’s expectations of the production shaft reaching the 1900 foot level in Q1-2015, 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, completing the land conveyance and receiving Stage 2 permits by June 2015, 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 25, 2014.  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

 

dt.common.streams.StreamServerRob Sabo
rsabo@nnbw.biz

 

The new year is shaping up to be an eventful one for Nevada Copper.

After working since early 2011 to get 10,400 acres of federal land transferred to the City of Yerington, Nevada Copper in mid December finally saw that goal realized. The transfer of land allows Nevada Copper to proceed with plans to develop a large open-pit copper mine on 3,800 acres of former federal land that surrounds the company’s underground copper mine on 1,200 acres.

Please read the full article written by Rob Sabo, Nevada Appeal here

Reno Gazette Journal’s Ray Hagar, ranked passage of Nevada’s Land Bill his number two top story in 2014. To see the full article visit Reno Gazette Journal or click here. The Nevada Lands Bill highlight is below.

B9315623968Z.1_20141223213348_000_G7C9GIN05.1-0

Nevada Copper ends this year with a jump start for 2015!

2. Massive Nevada land bills pass Congress: A collection of eight land bills that transfers 130,000 acres of federal land in Nevada to local control passed Congress after languishing in Washington for more than five years. A main part of this bill will transfer 10,400 acres of BLM land near Yerington to local control. It will jump-start Nevada Copper’s open-pit copper mining, leading to the creation of more than 3,000 direct and ancillary jobs in Northern Nevada. These bills probably would have never passed the U.S. Senate but Reid and Sen. Dean Heller, R-Nev., tied them to the Department of Defense appropriations bill. Copper, it was argued, is the second most-used metal in defense projects and Yerington is sitting on a ton of it. Plus the land transfers aids expansions of Nellis Air Force Base near Las Vegas and the Naval Air Station near Fallon.


 

 Please read the full article here

 http://www.rgj.com/story/news/politics/2014/12/23/red-wave-tops-nevada-politics/20839915/

 

President Barack Obama signed the National Defense Authorization Act (NDAA) into law on Dec. 19th, 2014. The NDAA includes additional provisions that contain the largest public lands package since 2009.

The provision will direct the sale of 10,400 acres of land from the federal government to the City of Yerington.  The land purchase will help the Pumpkin Hollow Copper Project realize its potential and bring high-paying jobs to Lyon County.

Click the link directly below to read an article from Dorothy Kosich at MineWeb which states that two copper projects will benefit from the provisions in the bill.


mine webObama signs mining land swap measures into law

Two copper projects in Arizona and Nevada will now advance to the next stage as the National Defense Authorization Act has now become law.

Article Source: http://www.mineweb.com/obama-signs-mining-land-swap-measures-law/

 

BELIEVE IT!  Corner of Main Street & Goldfield Avenue, Yerington, Nevada

BELIEVE IT!
Corner of Main Street & Goldfield Avenue, Yerington, Nevada

 

 

 

 

 

 

 

Congratulations Yerington!  Nevada Copper

Congratulations Yerington! Nevada Copper

 

 

 

 

 

LAND BILL PASSES!

LAND BILL PASSES!

 

 

 

 

 

 

Please read the Mason Valley News article by Keith Trout, ktrout@masonvalleynews.com Wednesday, December 17, 2014  –   MVN-LongRoad-LandBillApproved20141217KTrout

NEWS RELEASE

TSX: NCU

U.S. SENATE AND HOUSE OF REPRESENTATIVES PASS LAND BILL0806-seante-house-capitol-senate-recess_standard_600x400 

December 15, 2014
U.S. Senate and House of Representatives Pass Land Bill


December 15, 2014   Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is extremely pleased to announce passage of the Yerington Land Bill (the “Bill”) by both the United States Senate and House of Representatives.Nevada Copper and the City of Yerington will now complete the acquisition of federal lands from the Bureau of Land Management within six months, as mandated in the Bill. Concurrently, Nevada Copper will move to complete the remaining Stage 2 State permitting by Q2-2015 which will allow for construction of the much larger 70,000 tons per day open pit mine, described below. Passage of the Bill is also expected to have major positive cost benefits for both the fully permitted, 6,500 tons/day Stage 1 underground mine development, currently in construction, and the Stage 2 open pit mine.

Land Bill 

The U.S. Congressional legislation authorizing the transfer of 10,400 acres of land from the federal government to the City of Yerington (“Yerington”) passed in the United States Senate on December 12, 2014 and the House of Representatives on December 5, 2014. The Bill was included in the National Defense Authorization Act (“NDAA”) as Section 3009, the “Land Conveyance to Yerington, Nevada”. The Bill will now go to President Obama for what is a routine signing before year-end.

The legislation requires that legal acquisition and transfer of the land to the City of Yerington must be completed by the Bureau of Land Management within 180 days of passage. During this period, Nevada Copper would work to complete the remaining two Stage 2 State permits. These are the Stage 2 Reclamation and the Air Quality Permits which will be modified to reflect the private land status. The Company and the City of Yerington have already been collaborating on work needed to meet that 180-day deadline and sets the stage for issuance of all key Stage 2 permits by Q2-2015.

Giulio T. Bonifacio, President and CEO, stated: “We are extremely pleased with the passage of the Bill as it will enable Nevada Copper to advance the much larger Stage 2 open pit project on an accelerated basis. With passage of the Bill our total proven and probable reserves1 of 5.2 billion lbs. of copper; 989,000 ounces of gold and 32.9 million ounces of silver positions Pumpkin Hollow as one of the very few large copper projects in the world that has a clear path to production while also being located in an ideal jurisdiction with existing infrastructure.

With permitting on Stage 2 effectively in hand we will now move forward with the completion of an updated and optimized feasibility study for our Stage 2 open pit operation which will further enhance project economics.”

Timothy M. Dyhr, Vice President, Environment and External Relations, stated:“Pumpkin Hollow has overwhelming support from Yerington, Lyon County and the State of Nevada, and has no environmental issues or land use conflicts. We want to thank the Nevada Congressional delegation, Nevada State officials, Lyon County, Yerington and the local community for their efforts and unwavering support during this time. The Company looks forward to partnering with Yerington to develop the mine and create the economy and jobs so desperately needed in this area.”

Stage 2 Open Pit Feasibility Study Update
As more fully described in the Company’s press release dated November 4, 2014 the Company will be updating its Stage 2 Open Pit Feasibility Study that was published in 2013. The update will include the results from 9,880 meters (32,414 feet) of additional drilling on the North Deposit. In Q2-2014, the Company decided to incorporate these drill results and ascertain if the data would improve the present mine design. In particular, drill hole NC12-34 as previously disclosed in a news release dated September, 13, 2012, on the southwestern edge of the North Deposit ultimate pit intersected 690 feet (210.3 meters), 625.3 feet (190.6 meters) true thickness, grading 1.17% copper, including 150 feet grading 3.80%. Another drill hole, NC13-05, disclosed in a news release dated June 17, 2013, along the western edge of the North deposit and not included in the 2013 Feasibility Study, intersected several zones including 125 feet (38.1 meters), true thickness, grading 1.45% copper.

The new information resulted in an opportunity to significantly improve the grade profile and reduce mine waste rock quantities by re-evaluating the pit shell in the North Deposit. Preliminary work to date on the mineral resource calculations and production schedule has demonstrated extremely positive results with respect to the copper grades and copper production in the early years, as well as overall life-of-mine copper grades. Management believes that the positive initial results support completion of an updated and optimized feasibility study for the Stage 2 open pit operation. The updated feasibility study will incorporate the new and updated technical and cost information on the Stage 2 project.

The results of this updated feasibility study are targeted for release in Q1-2015.

Readers are cautioned that until the updated feasibility study is completed, the implications of the copper grade, production increases and cost updates on the project, including the impact on project economics, cannot be fully determined.

Qualified Persons
The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy 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.

About Nevada Copper
The Company’s advanced stage Pumpkin Hollow project in Nevada consists of a fully permitted, 6,500 tons/day Stage 1 underground copper mine development, currently in construction, and a nearby Stage 2, 70,000 tons/day open pit mine copper project in the advanced permitting phase. Expected average copper production for the first five years is 75 million lbs./year from the Stage 1 underground mine, and 221 million lbs./year from the Stage 2 open pit mine. Total proven and probable reserves include 5.2 billion lbs. of copper; 989,000 ounces of gold and 32.9 million ounces of silver. The project is located near Yerington, Nevada, close to roads, rail, and power infrastructure, and with all future water supply requirements met.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and the Pumpkin Hollow project website (www.pumpkinhollowcopper.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, are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: receiving Stage 2 permits in mid-2015, expectations regarding the future results of the feasibility study update, 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 risks 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 25, 2014. 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

1 The associated mineral reserve tonnages and grades are supported by Technical Reports filed on SEDAR and disclosed on the Company website at www.nevadacopper.com.

View the release in PDF format:

 
File: http://www.nevadacopper.com/i/pdf/2014-12-15_NR.pdf
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Senate-sealMinutes ago, the U.S. Senate voted 85 to 14 to pass the motion for cloture on the National Defense Authorization Act (NDAA).  That means that the debate on actual bill is limited to 1 hour for each Senator and 30 hours total.  Therefore, with 14 Senators voting ‘No’, the maximum debate would be 14 hours.  It will likely not be 14 hours.  A vote to pass the bill is expected tomorrow.

Ray Hagar, RGJ 6:56 p.m. PST December 10, 2014

http://www.rgj.com/story/news/2014/12/10/reid-expects-passage-nevada-land-bills-senate/20225887/

                                                                        B9315455665Z.1_20141210214931_000_GBP9CJEDS.1-0

Senate Majority Leader Harry Reid, D-Nev., predicted Wednesday that eight Nevada lands bills included in the nation’s primary spending bill for the Department of Defense will pass the U.S. Senate by the end of the week.

Meanwhile, Nevada’s junior Sen. Dean Heller, R-Nev., made a 10-minute speech on the Senate floor Wednesday pushing for the inclusion of the eight bills into the National Defense Authorization Act. Together, the eight land bills would transfer a total of 130,000 acres of federal lands in Nevada to local governments or made into wilderness areas.

Heller emphasized that the land transfers would create jobs across the state.

“This will spur economic development and job creation in our state while enhancing U.S. national security,” Heller told his colleagues.

One of the transfers deals with federal land that surrounds the Nevada Copper mining operation in Yerington. Passage of that bill would jump-start open-pit mining at the Pumpkin Hollow site near Yerington and lead to the growth of 1,200 mining and construction jobs that pay an average of $85,000 — plus about 1,800 ancillary jobs, studies have shown.

Many of the ancillary jobs and those directly connected to the mining operation will be centered in the Reno-Sparks area, Nevada Copper officials said.

“It’s huge for Reno,” Nevada Copper’s Tim Dyhr said. “A large portion of our support, contractors and suppliers are coming out of Reno. But we are also getting materials out of Winnemucca, out of Elko.

“Nevada Cement is another example,” Dyhr said of the regional economic impact of the Nevada Copper open-pit expansion. “Nevada Cement out of Fernley is supplying all of the cement for the project.”

Other Washoe County companies doing business with the mine include Granite Construction of Sparks, Western Nevada Supply of Sparks, Komatsu Equipment (large trucks) of Reno, PDM Steel of Sparks and Northern Nevada Rebar of Reno.

“We use so many vendors out of the Reno area,” Dyhr said. “And a lot of them are the smaller vendors. They are all coming from somewhere in Northern Nevada.”

The land bills, which include projects in Northern and Southern Nevada, will need 60 votes in the Senate to both end debate on the bill and bring the bill to a vote on the Senate floor, Reid said. The bill has already passed the House of Representatives.

“Passage only takes 50 votes (with 100 U.S. Senators) but we’ll need 60 votes on cloture (ending the debate) and 60 votes on a budget point-of-order that they’ll raise,” Reid said.

“We have some procedures to follow but it (passage) could happen as late as Friday or Saturday,” Reid said. “Senate time is never definite, but this is going to happen. We are going to pass that bill, OK? We’ll pass it.”

Heller stressed to Senate colleagues that the importance of copper to national defense, calling it “the second-most used mineral at the Department of Defense.”

He noted that the land package also has a direct impact on Nellis Air Force Base in Clark County and the Naval Air Station in Fallon.

Reid agreed, saying “there is a lot of good stuff in there for the military.”

Yet Reid was highly critical of Sen. Tom Coburn, R-Okla., for holding up many of the land transfers for years. Heller noted he has worked on many of the proposals for the six years he’s been a senator and congressman from Nevada.

“Dr. Coburn (he is a medical doctor), who is leaving the Senate at the end of this year, has for 10 years held up hundreds, hundreds of these land bills,” Reid said. “Personally, he’s held them up. So Democrats and Republicans sat down and they have been working for months and they are tired of it (Coburn’s blocking tactics). He’s held up naming of parks and stuff that doesn’t matter. But this stuff is very substantive. It is really important piece of legislation, especially for public-land states.”

Coburn’s representative could not be reached by phone Wednesday evening.

Yerington is not the only Northern Nevada municipality that has a stake in the passage of the Department of Defense funding bill.

Fernley would be able to purchase about 9,000 acres of federal land within its boundaries. The land would be earmarked for commercial and industrial development.

Elko would receive about 300 acres of federal land for a motocross park and to provide housing for the Elko Band of the Te-Moak Tribe for housing.

Carlin — in Elko County — would receive about 1,000 acres of federal land to be used for economic development.

The Naval Air Station near Fallon would receive 400 acres of federal land for a buffer zone for explosives testing and housing for military at the base.

A long-standing issue in Storey County would be resolved by the transfer of 1,700 acres of federal land to Virginia City, ending a long-standing dispute that has put private-property rights in question.

“These properties have been occupied for decades by individuals who purchased them or acquired them legally, yet their continued residency is trespassing, according to the federal government,” Heller said on the Senate floor.

Also, the bill would establish the Pine Forest Wilderness Area near Winnemucca while directing land exchanges between the Bureau of Land Management and local ranchers. The transfers is expected to improve the economic prospects of those privately owned ranches.

In Southern Nevada, the bill would establish Nevada’s first national monument at the Tule Springs fossil beds, expand Nellis Air Force base and create the Nellis Off-Highway Vehicles Park.

It would also allow federal land transfers to benefit Great Basin College in Pahrump, the College of Southern Nevada and the University of Nevada, Las Vegas.