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VANCOUVER.  March 10, 2017 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce that it has closed the US$5 million investment with its long-term cornerstone shareholder, Pala Investments Limited (“Pala”). As previously announced in the Company’s new release dated February 27, 2017, along with these funds from Pala, the Company had also successfully secured extensions to the loan maturities under its existing senior term loan facility with Red Kite and its loan facility with Pala until December 31, 2018.

With the closing of the financing with Pala and the associated loan amendments, the Company is now in a position to quickly advance its previously announced key initiatives and evaluation of project development options at Pumpkin Hollow with the assistance of Pala in its role as Technical Advisor to the Company. These initiatives include:

  1. drilling to extend and better define the higher grade North deposit extension, complete an updated mineral resource followed by evaluating an optimized higher-grade Integrated open pit/underground development plan; and
  2. advance technical studies for the construction of a first-phase smaller-scale, lower capital cost and higher grade underground project.

The two initiatives are not mutually exclusive and, should copper markets continue to improve, both would allow for future expansion to capture more of the 6.3 billion pounds of M&I copper resources[1].

Pumpkin Hollow Project

The Pumpkin Hollow copper development is located entirely on private land close to infrastructure with all required power and water supplies secured. With the project entirely on private land, all required Nevada permits for construction and mine operations are in hand (no federal permits are required). With many analysts forecasting improving copper markets over the next few years, the Company’s Pumpkin Hollow Copper Project represents an attractive, “shovel-ready”, fully-permitted copper project located in an ideal mine-friendly location.

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: receipt of regulatory and shareholder approval relating to the Pala Financing, closing of the Pala Financing and advancement of funds thereunder, development plans at the Pumpkin Hollow property as well as the Company’s plans in general.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause actual results to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: conditions in debt and equity financing markets and the challenges of the Company in the current commodity market, future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 22, 2016.  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

[1] From NI43-101 Technical Report Feasibility Study SEDAR-filed on July 9, 2015

May 27, 2016 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or “Company”) is pleased to announce the results from its 2016 Annual and Special Meeting (the “Meeting”), held on Friday, May 27th in Vancouver, B.C. Shareholders holding a total of 55,738,326 common shares of the Company attended the meeting in person or were represented by proxy, representing 69% of the total 80,501,458 common shares of the Company outstanding as of the record date. Shareholders voted in favour of all items of business before the Meeting, including the appointment of auditors, the election of all directors and the Pala Convertible Facility.

  1. Appointment of Auditor
    Smyth LLP was appointed as the Company’s auditor and the directors were authorized to fix the auditor’s remuneration.
  2. Determination of the Number of Directors
    The number of directors was determined at nine.
  3. Election of Directors
    The following persons were elected as Directors of the Company until the next annual shareholder meeting of the Company, with the voting results shown below:

    Director Votes For % For Votes Against % Against
    Giulio Bonifacio
    Victor Bradley
    Michael Brown
    Lucio Genovese
    Stephen Gill
    Joseph Giuffre
    Evgenij Iorich
    Paul Matysek
    Bill Myckatyn
    52,076,966
    52,076,966
    52,075,966
    52,077,166
    52,077,166
    52,076,966
    52,076,666
    52,075,466
    52,075,466
    99.76
    99.76
    99.76
    99.76
    99.76
    99.76
    99.76
    99.75
    99.75
    126,800
    126,800
    127,800
    126,600
    126,600
    126,800
    127,100
    128,300
    128,300
    0.24
    0.24
    0.24
    0.24
    0.24
    0.24
    0.24
    0.25
    0.25
  4. Pala Convertible Facility
    An ordinary resolution to approve the convertible credit facility with Pala Investments Ltd. (“Pala”), as announced in the Company’s news release of April 22, 2016, was passed. The ordinary resolution was approved by the shareholders of the Company other than Pala and its affiliates, with the following results:

    Disinterested Shareholder Vote Summary

    Votes
    For
    Votes
    Against
    Votes
    Withheld
    Total Shares Voted
    Shares Voted 11,731,575 183,050 0 11,914,625
    % 98.5% 1.5% 0% 100%

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

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

May 3, 2016 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce that the City of Yerington (“City”) Planning Commission unanimously recommended that the majority of Nevada Copper Lands (“Nevada Copper Lands”) at its 100% owned Pumpkin Hollow Copper Development Property (the “Project”) be put into a newly created industrial district (M-2 – Special Industrial District) to facilitate solar development. The City Council is scheduled to formally adopt the zoning after two legally-required hearings at its regularly scheduled meetings on May 9 and May 23. The current zoning already allows for all mining activities and, as described below, this would continue under the new M-2 zoning.

Tim Dyhr, the Vice President, Environment and External Relations commented: “Nevada Copper and the City have collaborated for over five years, including the landmark federal land conveyance, to assure that Pumpkin Hollow will be developed. The City continues to demonstrate overwhelming support for both mining and now renewable solar energy development at the Project. This designation has been the result of consultation amongst the City, Nevada Copper and Lyon County, with constructive input and consultation with local residents. We are very pleased with the outcome.”

At the time of the conveyance by the City to the Company, the majority of Nevada Copper Lands were zoned M-1 — Industrial. The new M-2 district explicitly allows commercial solar energy conversion systems and energy storage systems and provides further definition to the full range of mining activities, as well as commercial and industrial development.

The Company is currently completing a study with NV Energy, a unit of Berkshire Hathaway Energy (“NV Energy”), to examine solar energy generation at Pumpkin Hollow in conjunction with our proposed copper development project. The study will provide site-specific evaluation of the solar potential on our lands. The study will be completed in early May and at that time the Company will determine the best strategy to develop solar at the Project.

Pumpkin Hollow Project

The Pumpkin Hollow copper development is located entirely on 11,597 acres of private land, close to infrastructure with all required power and water supplies secured. With the Project entirely on private land, all required Nevada permits for construction and mine operations are in hand (no federal permits are required). With many analysts forecasting improving copper markets over the next few years, the Company’s Pumpkin Hollow Copper Project represents an attractive, “shovel-ready”, fully-permitted copper project located in an ideal mine-friendly location.

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: any statements regarding a possible solar development or other mine development plans at the Pumpkin Hollow property as well as the Company’s plans in general.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause actual results to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: conditions in debt and equity financing markets and the challenges of the Company in the current commodity market, future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States, other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 22, 2016. 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

Timeline_Cover_doNotRename43

April 5, 2016 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce it has entered into an agreement (the “Amending Agreement”) to further amend its senior secured loan agreement dated December 31, 2014 with EXP T1 Ltd. an affiliate of Red Kite Mine Finance (“Red Kite”), which was previously amended on September 30, 2015 and January 2, 2016 (the “Red Kite Loan Agreement”).

Additionally, the Company has today agreed with Pala Investments Limited (“Pala”) on a term sheet under which the maturity of Pala’s existing subordinated debt would be extended to December 31, 2017. Pala will also provide an additional US$5 million of funding as a convertible loan subordinated in priority to the Red Kite secured loan (the “New Pala Loan”). The parties will now proceed to put in place the definitive binding transaction agreements to document these arrangements as further described below.

Red Kite Loan

The current loan amendments further improve the terms of the Red Loan Agreement as follows:

  • reducing the required funding under a 2016 Financing (“the 2016 Financing”) to US$10 million from $15 million;
  • extending the outside date for completion of the 2016 Financing to May 31, 2016 from April 15, 2016;
  • reducing the working capital maintenance requirement to US$2 million from US$5 million;
  • confirms December 31, 2017 as the final date for satisfaction of the initial loan drawdown conditions;
  • extending the outside date of first commercial production to March 31, 2020; and,
  • eliminating the requirement for 2017 loan interest to be deposited in escrow by December 31, 2016, instead only requiring that interest be paid on a monthly basis in advance starting in January 2017.

The Amending Agreement includes customary provisions for such agreements, including restrictive covenants applicable until the completion of the 2016 Financing. If the Company does not complete the 2016 Financing before May 31, 2016, all amounts outstanding under the Red Kite Loan Agreement will be immediately due and payable by the Company, and Red Kite will be in a position to exercise all remedies available to it under the Red Kite Loan Agreement and related security agreements.

Giulio Bonifacio, the CEO of Nevada Copper commented on the Agreement: “Nevada Copper is pleased to have the continued support of both Red Kite and Pala during what has been an extraordinarily challenging period in the mining sector and capital markets. The much improved Red Kite loan terms and support from Pala will provide the Company with the required time to further advance current discussions with a focus on strategic alternatives. Pumpkin Hollow is a Tier 1 asset which has been significantly derisked and is fully- permitted/shovel-ready with a 1,900 foot production-sized shaft with lateral development, all of which will continue to assist Management as it advances current discussions with several strategic groups.”

Pala Convertible Loans

Pala and the Company have entered into a term sheet pursuant to which Pala will advance a further US$5 million as a convertible loan subordinated in priority to the Red Kite secured loan. The current Pala subordinated loan of approximately US$21.7 million (including principal and interest) as at March 31, 2016 will be converted into a convertible loan with a maturity date extended from June 30, 2016 to December 31, 2017 (collectively with the New Pala Loan, the “Pala Convertible Loans”).

The Pala Convertible Loans will be subject to the approval of disinterested shareholders of the Company at a special shareholder meeting to be convened for this purpose.

The Pala Convertible Loans would have the following key terms:

  1. Maturity Date: The earlier of:
    1. December 31, 2017,
    2. the date when the Red Kite loan is repaid in full, and,
    3. a change of control event;
  1. Interest Rate: 12% per annum;
  1. Drawdown: The funds under the New Pala Loan will be available on closing of the 2016 Financing;
  1. Voluntary Prepayment: All outstanding convertible debt amounts owing may be prepaid in full by the Company with payment of the following early repayment fee equivalent to:
    1. 25% of outstanding amounts to be prepaid, if prepayment is made prior to December 31, 2016; and
    2. 35% of outstanding amounts to be prepaid, if prepayment is made between January 1, 2017 and December 31, 2017;
  1. Conversion: The Pala Convertible Loans and accrued and unpaid interest may be converted at the Conversion Price (“Conversion Price”), in full or in part, into common shares in the capital of the Company at any time up to the Maturity Date or prior to any voluntary prepayment by the Company. The Conversion Price will be at a 15% premium to the average 20-day VWAP closing price of the common shares of the Company immediately prior to the signing of the definitive binding transaction agreement, subject to potential adjustment such that the Conversion Price will not exceed 115% of the subscription price of the shares to be issued in the equity component of the 2016 Financing;
  1. Arrangement Fee: US$200,000 due upon execution, payable out of the proceeds of the New Pala Loan;
  1. Warrants. Pala will be issued 2.5 million warrants with a 3 year term, exercisable to acquire common shares of the Company at an exercise price that is at a 25% premium to average 20-day VWAP closing market price of the common shares of the Company on the date immediately prior to the signing of the definitive binding transaction agreement for the Pala Convertible Loans.

The advancement of the Pala Convertible Loans remains subject to a number of conditions precedent, including execution of definitive binding transaction agreements, receipt of Toronto Stock Exchange and other regulatory approvals, and receipt of shareholder approval.

2016 Financing Requirement

The requirement to raise net proceeds of US$10 million in the 2016 Financing is anticipated to be fulfilled by a combination of two elements: (a) an equity component sufficient to raise net proceeds of approximately US$5 million under the short form prospectus financing announced by the Company on February 10, 2016, and, (b) an additional US$5 million from the Pala Convertible Loans.

Pumpkin Hollow Project

The Pumpkin Hollow copper development is located entirely on private land close to infrastructure with all required power and water supplies secured. With the project entirely on private land, all required Nevada (no Federal) permits for construction and mine operations are in hand. With many analysts forecasting improving copper markets over the next few years, the Company’s Pumpkin Hollow Copper Project represents an attractive, “shovel-ready”, fully-permitted copper project located in an ideal mine-friendly location.

Update – Strategic Review

The Company continues to hold discussions with various strategic groups, and a Special Committee of the Board, consisting of independent directors, has been appointed to review and evaluate all value-add strategic alternatives.

The scope of strategic alternatives to be considered is broad and could include, but not be limited to, a strategic investment in the Pumpkin Hollow Project or the Company by a third party, a joint venture arrangement, the sale of all or a portion of the project, a sale of the Company, a business combination with another entity, or some combination of the foregoing.

Over the past several months, the Company has conducted discussions and executed confidentiality agreements with a number of interested parties regarding potential strategic alternatives and will continue to advance those discussions. At present, there can be no assurance as to what, if any, strategic alternatives might be pursued by the Company. The Company does not intend to disclose further details with respect to its review of strategic alternatives unless, and until, the board of directors has approved a specific transaction or otherwise determines that further disclosure is warranted.

2016 Plans

During 2016, management will focus on maintaining the Project’s construction and operating permits, and its “construction-ready” status. In addition, management is currently considering alternate project development plans that might include completion of a small first-phase underground mine, and a smaller initial development of the open pit deposit targeting higher grade areas of the deposits first, followed by expansion at a later date.

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: the completion of the 2016 Financing, advancement of the Pala Convertible Loans, the cure of any default under the Red Kite Loan Agreement, the continued forbearance of Red Kite, and any statements regarding revised development plans at the Pumpkin Hollow property or the future completion of any strategic transaction, as well as the Company’s plans in general.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause actual results to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: conditions in debt and equity financing markets and the challenges of the Company completing the 2016 Financing before May 31, 2016 on acceptable terms or at all in the current commodity market, fulfillment of conditions precedent to the advancement of the Pala Convertible Loans (including execution of definitive agreements, and receipt of regulatory and shareholder approval), future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States, other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 22, 2016. 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

 

Wood-Rogers-Render_SolarField1-ad-120210Timeline_Cover_doNotRename43

February 11, 2016 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company“) is pleased to announce that it has entered into an agreement (the “Agreement”) with NV Energy to conduct a study of the potential to develop a solar energy generation project on Nevada Copper’s privately-owned land (“Solar Study”).  This land is adjacent to the Company’s proposed Pumpkin Hollow copper development project. Additional information on NV Energy is included below.

Nevada Copper expects this Solar Study to be completed within three months.  Nevada Copper and NV Energy seek to evaluate, at a scoping level, the feasibility of developing a solar facility on private land owned by Nevada Copper that is available for solar generation facilities.  Subject to the results of the Study, the parties would have an opportunity to enter into an agreement to pursue a solar development opportunity.  The Solar Study will be done at no cost to the Company, in consideration of which, a 90-day exclusivity period was granted to NV Energy.  After the 90-day exclusivity period, if no development agreement has been mutually agreed after good-faith efforts, the Company will be free to solicit interest from other parties.

Giulio Bonifacio, the CEO of Nevada Copper commented on the Agreement: “Nevada Copper is very interested in developing solar energy on its project area, both to supply power to the mine, and to deliver power to the grid.  This presents another significant opportunity that is the direct result of the successful passage of the land bill which was signed into law by President Obama and resulted in receipt of all permits to construct a mine.

Additionally the current zoning of these private lands owned by the Company allows for solar development and has no environmental or engineering constraints. The Solar Study will provide site-specific evaluation of the solar potential on our lands at no cost to the Company and will prove beneficial in all discussions regarding future development of the solar development opportunity.  Initial investigations indicate the potential for up to 500 MW of solar generation on our project landholdings surplus to our mining needs.”

Nevada Copper successfully collaborated with the City of Yerington and Lyon County in 2015 to implement the purchase of federal lands by the City and in October 2015 the City re-conveyed and deeded 9,145 acres to the Company.  The Company’s private land surface rights now total 10,683 acres (43 km2).   With the completion of the land conveyance, Nevada Copper continues to advance financing discussions to support development of the Pumpkin Hollow copper project, while also considering other commercial and industrial development opportunities.

Solar power generation was one of the key industrial opportunities afforded by the Company’s acquisition of the large private land package.  This is due to both the industrial zoning of the entire site and lack of any requirements for land use permits, as well as the high solar potential of the area.  According to data published by the National Renewable Energy Lab (“NREL”), the Pumpkin Hollow project area, has a high level of solar irradiation, 6.5-7.0 kilowatt hours per square meter per day (kW-hr/m2/day).

Depending on the ultimate scope of the Pumpkin Hollow copper mine development, the Company estimates that 2,000-4,000 acres of land adjacent to, and outside of, the area of proposed mine facilities could be utilized for solar generation. Based on the NREL solar irradiation data, a 200 megawatt (MW) typical solar photovoltaic project in the Yerington area would require 1,600-2,000 acres of land. This implies a potential for up 500 MW of solar power development capacity.  Evaluation of energy transmission options would be part of the Solar Study. Solar energy generated at the project could be used at the site and/or transmitted into the grid via existing high voltage transmission lines located east of the project area, or via other routes.  A power line corridor connecting the project to transmission line is part of the proposed copper project development plan and the Company acquired fee title to that land as part of the land conveyance.

The land proposed for solar development is privately owned by Nevada Copper and has been zoned M-1 Industrial by the City of Yerington.  This zoning allows for solar development and has no environmental or engineering constraints for such a development.  The land is also close proximity to federal and state highways and other infrastructure.  With such a potential solar project development, the Pumpkin Hollow copper project would help enhance renewable energy development in Nevada. The Nevada Copper mine project and an adjacent solar project also could realize mutual benefit with potential shared grid-connection costs.  If found to be feasible, a solar power development could be developed as a standalone operation, or as part of the proposed copper mine development at Pumpkin Hollow.

About NV Energy
NV Energy, Inc. provides a wide range of energy services to 1.3 million customers throughout Nevada and nearly 40 million tourists annually.  NV Energy is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. The company is headquartered in Las Vegas, Nevada.

Additional information regarding NV Energy, a unit of Berkshire Hathaway Energy is included in the following link: (http://www.berkshirehathawayenergyco.com/our-businesses/nv-energy)

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: any statements regarding a possible solar development or other mine development plans at the Pumpkin Hollow property as well as the Company’s plans in general.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause actual results to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: conditions in debt and equity financing markets and the challenges of the Company in the current commodity market, future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 17, 2015.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended.  For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

For further information call:

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

Timeline_Cover_doNotRename43

January 18, 2016 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) The Board of Directors of Nevada Copper are very pleased to announce the appointment of Mr. Victor Bradley as Non-Executive Chairman of the Board. Mr. Bradley has been Lead Director of Nevada Copper since 2013.  Mr. Bradley is a Chartered Professional Accountant with more than 50 years of experience in the mining industry having founded, financed and operated several mining and advanced stage exploration and development companies.

Mr. Bradley began his career with positions such as Controller/ Chief Financial Officer at a number of mining companies including Cominco Ltd. and McIntyre Mines Ltd.

In 1994, Mr. Bradley founded Yamana Gold Inc. (formerly “Yamana Resources Inc.”) collectively “Yamana”. Mr. Bradley served as its President and CEO until July 2003. By 2001, Yamana had discovered, developed, financed and put into production the high grade Mina Martha silver mine located in southern Patagonia, Argentina.  Mr. Bradley negotiated and consummated the reverse takeover of Yamana by Santa Elina Mines of Brazil in the first half of 2003 and then moved, in July 2003, to serve as Chairman of the Board and subsequently Lead Director until May 2008. As Chairman, Mr. Bradley helped guide Yamana through the acquisition of Santa Elina’s gold assets, including a producing gold mine bought from CVRD and five other significant corporate acquisitions, including Desert Sun, Meridian, Northern Orion and Viceroy.  During his time with Yamana, Mr. Bradley participated in many equity and debt financings.

From November 2006 to June 2014, Mr. Bradley was Chairman of Osisko Mining Corp, one of Canada’s modern mining success stories. Osisko arranged project financing of greater than $1 billion in debt and equity in 2009 for the Canadian Malartic mine. The mine was sold to a partnership of Agnico Eagle and Yamana Gold in June of 2014. Currently Mr. Bradley is Director of Osisko Gold Royalties, a company created through the sale of Osisko Mining and holding an NSR royalty on the Malartic Mine.

Mr. Giulio Bonifacio, President & CEO commented, “On behalf of Nevada Copper’s Board of Directors, we are extremely pleased to have such a highly respected and experienced leader in the mining sector act as Non-Executive Chairman of Nevada Copper. Vic’s extensive background in the mining sector will prove invaluable to Nevada Copper as we move forward. Vic will bring his vast knowledge of the industry, expertise in negotiations and his many contacts to assist Nevada Copper.”

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

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:  the completion of the 2016 Financing, the cure of any default under the Loan Agreement, the continued forbearance of Red Kite, and any statements regarding revised development plans at the Pumpkin Hollow property or the future completion of any strategic transaction, as well as the Company’s plans in general.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause actual results to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: conditions in debt and equity financing markets and the challenges of the Company completing the 2016 Financing on or before April 15, 2016 on acceptable terms or at all in the current commodity market, future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 17, 2015.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended.  For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

For further information call:
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

The Winter 2015 edition of the Elko Mining Quarterly published a detailed article about Pumpkin Hollow, the conveyance of 10,060 acres by the federal government to the City of Yerington, of which the City deeded 9,045 acres to Nevada Copper for the Pumpkin Hollow Mine.

_DSC5683

Photo by Kelly Weaver

Go to Page 71 in the online version here:

September 30, 2015
Nevada Copper Provides Corporate and Project Update

September 30, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to provide a corporate and project update on its 100%-owned Pumpkin Hollow copper project (“the Project”) located on 10,680 acres of private land near Yerington, Nevada.

Corporate Update

Amendment to Red Kite Secured Loan Facility
On December 30, 2014, a US$200 million loan facility, of which US$90 million has been drawn down, and an offtake agreement were executed with an affiliate of Red Kite (“Red Kite”). On September 30, 2015, the loan facility was amended (the “Amended Loan Facility”) to extend the maturity date to December 31, 2021 while the dates of loan drawdown, repayment commencement and first commercial production, were all extended by 12 months. Under the Amended Loan Facility, interest payments are accrued from July 1, 2015 to December 31, 2016, with the first interest payment thereafter due on March 31, 2017. Accrued interest is capitalized to loan principal along with a 3.5% transaction fee.

With Pumpkin Hollow’s large 70,000 tons/day Integrated development option recently permitted, the Amended Loan Facility will provide more-than-adequate time, in light of current market conditions, for the Company to consider the optimum development and financing strategy for the Project.

The 2014 copper offtake agreement was also amended to allow Red Kite a fixed tonnage option should Nevada Copper elect to develop a larger open pit operation. Under this amendment, Red Kite can elect to convert their percentage entitlement to a fixed tonnage of payable copper from this proposed larger operation. The tonnage of payable copper to be delivered is based on the payable copper projected for production from the stand-alone underground operation. This fixed tonnage of copper to be delivered is capped at the levels projected by the underground mine plan only.

Amendment to Pala Bridge Loan Facility
On September 30, 2015, the current US$25 million subordinated bridge loan facility with Pala Investments Limited (“Pala”) was extended to June 30, 2016 and may be extended to a later date that will be mutually agreed between the Company and Pala. The Company has drawn down US$20 million of this facility.

Giulio Bonifacio, President and CEO, commented: “We are extremely pleased to have the continued support of our major shareholder, Pala, in addition to our lender Red Kite. Pumpkin Hollow represents the only large, fully-permitted copper deposit in the Americas not currently owned by a major. Despite challenges in the mining sector and capital markets, the continued support of Pala will allow Nevada Copper additional time to carefully consider financing and strategic options that will accurately reflect the fair value of Pumpkin Hollow for all our shareholders. This value is further supported by our timely delivery on key project milestones, most recently, permits.”

Next Steps

Now that the major permitting hurdle is behind us, Nevada Copper believes that it is the appropriate time to re-engage on the financing front. With a consensus that copper prices are expected to rise over the next three years, we will accelerate discussions in order to position the Project for a 2018 production start. Financing discussions may take the form of joint venture partnership; project bank debt with, or without, associated offtake; EPCM contracts with offtake provisions that bring associated low-cost Export Credit Agency (ECA) financing; and combinations of the foregoing. These discussions are currently underway and, as a fully-permitted large copper project in Nevada, we also have interest from the corporate mining sector.

We are fortunate to have two development options — both supported by feasibility studies. These two development options are both fully permitted and could be developed in sequence:

  1. Smaller, lower capex underground operation for which the hoist, headframe and production sized shaft are already in place; or,
  2. Larger Integrated operation with a 70,000 tons per day concentrator with ore feed from both underground and open pit mine.

Nevada Copper, with the support of its major shareholder Pala and lenders, will take the time necessary to carefully consider financing options and strategic alternatives that are only reflective of fair value for the Pumpkin Hollow project as a fully-permitted project, in an ideal location, with abundant infrastructure.

Project Summary & Update
Nevada Copper has continued to make great strides advancing and de-risking its Pumpkin Hollow project during the last several years. The Project is located in an ideal mining jurisdiction close to roads, rail, power and infrastructure.

Since 2006, the Project has advanced through a number of phases, from early exploration though to feasibility and recently achieved full permitting status. A summary of these activities are as follows:

  • Over 600,000 feet (183,000 meters) of resource delineation diamond drilling in the underground, and two open pit deposits, which have now successfully merged;
  • Upgraded the initial copper inferred resource while adding gold-silver resources, and successfully converted these resources into proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounces of gold and 27.6 million ounces of silver (see Note 1 below and News Release dated May 28, 2015 for mineral reserve tonnages and grades);
  • Completed four feasibility studies, evaluated detailed plans to mine and process copper, gold and silver from our underground and open pit deposits;
  • Completed baseline studies required for permitting, added power lines, water supply and office facilities;
  • Constructed a production-sized headframe and production-sized hoist capable of sustaining operations at over 6,500 tons per day;
  • Constructed a maintenance shop and warehouse for the underground mine;
    Completed a 1,900 foot, 24 foot diameter, concreted-lined production-sized shaft; and,
  • Completed over 640 feet of lateral development to establish stations for underground drilling.

This year, 2015, culminated in the achievement of two critical milestones by Nevada Copper:

  • First, full permitting status for the large 70,000 tons/day Integrated project. The underground mine project had been previously permitted in 2013.
  • Second, the acquisition in August of 10,050 acres of Federal land and conversion of our unpatented claims on this land into wholly-owned surface and mineral rights.

Pumpkin Hollow is now “shovel-ready” — ready for the start of detailed engineering and full construction subject only to financing (See August 17 and 21, 2015 News Releases). As a fully-permitted, large-scale copper project located on 10,680 acres of private land in mining-friendly Nevada, the Project has attracted attention from lending institutions, engineering firms, copper smelters, State and local officials, as well our industry peers.

Earlier in 2015, our project team completed the production shaft on the East deposits to the 1900 foot haulage level and commenced initial lateral development to provide for three underground drill stations. In expectation of full permits in 2015 for the much larger open pit operation, the Company also initiated an updated feasibility study early in the year. This study was completed and released in May.

On the exploration front, the Company completed its first phase of open pit drilling which proved very successful and met our expectations as to the potential for future expansion of copper reserves at Pumpkin Hollow (See News Release Dated September 10, 2015). We are also completing the first phase of underground drilling with the objective of confirming our ability to target higher copper grades in the early years of production. Results will be released in the coming weeks.

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

Note 1: Proven and Probable Mineral Reserves, including open pit and underground mineable, are 572 million tons of ore grading 0.47% copper equivalent, containing 5.05 billion pounds of copper, 761,000 ounces of gold and 27.6 million ounces of silver. The 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.

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

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.

Darin McDoniel, Chief Mine Engineer at Nevada Copper, takes the half-beard challenge! Below is his message to Congress:

DarinBeardChallenge

“It passed the house twice…..time for Senate to catch up!” – Darin McDoniel, Nevada Copper’s Chief Mine Engineer

The half-beard looks ridiculous…..but  so does half-a-bill!!


Nevada Copper recently issued an update on the project, the bill stuck in congress and the half-beard challenge. To read the update, click here.

Click below to Read similar post and see past challengers:

Half Beard Challenger #8: “No time left… Get ‘er done NOW!” Arnold Says

Half Beard Challenger #7: “Half a beard, half a bill, does not produce jobs. Pass the bill!!” French Says

Half Beard Challenger: “It is a huge benefit to Nevada, but only if you pass the bill.” Dusenbury Says

Half Beard Challenger: “We deserve the ‘full’ deal!” Ohlin Says

Half Beard Challenger: “Get’er done!!” Esteban Says

Tim Dake – General Manager of Project Construction Thanks Leadership, Accepts the Half-Beard Challenge and Passes the Gauntlet!

Battle Born – Half Beard Challenge!