Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

April 30, 2008 12:57 ET

Nevada Copper Closes Bought Deal

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES

Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or the "Company") is pleased to announce that it has closed its previously announced bought deal private placement (the "Offering") of 2,400,000 units ("Units") at a purchase price of $2.70 per Unit for gross proceeds of $6,480,000 with a syndicate of underwriters, led by Acumen Capital Finance Partners Limited and including Fraser Mackenzie Limited (the "Underwriters"). Each Unit consists of one common share and one-half of a transferable common share purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one common share for a period of 18 months from closing at a price of $3.20 per share. In the event the Company's common shares trade on the Toronto Stock Exchange at a price of $4.00 or greater for a period of 20 consecutive trading days, notice shall be provided to the Warrant holders advising them of an accelerated Warrant expiry deadline of 30 days from the date of notice.

The Underwriters were issued compensation options equal to 7% of the Units sold under the private placement. Each compensation option entitles the Underwriters to acquire a Unit at a price of $2.70 per Unit for a period of 18 months from closing with each Unit having the same terms as the Units issued to investors under the Offering.

All securities issued in connection with the private placement are subject to a four month hold period expiring September 1, 2008. Proceeds from the private placement will be applied toward the further development and advancement of the Pumpkin Hollow property.

Giulio Bonifacio, Nevada Copper's President, Chief Executive Officer, commented, "We are very pleased with the considerable interest shown in the financing considering the overall context of the marketplace. As a result of this financing which was oversubscribed we will accelerate our drilling efforts and continue to execute our stated plan to further enhance the recently reported positive project economics at Pumpkin Hollow while moving the project to a definitive feasibility study." Mr. Bonifacio added "We are very excited about our potential to add significantly to our initial scoping numbers as we drill our deposit which still remains open in several directions."

About Nevada Copper

Nevada Copper is an emerging copper company listed on the TSX, responsibly developing the Pumpkin Hollow property located in Western Nevada. Nevada Copper has embarked on a systematic fast-track program to develop the Pumpkin Hollow Property into Nevada's next copper mine.

Nevada Copper has 39.4 million shares outstanding and is well financed with no debt. For additional information about Nevada Copper please visit our website at www.nevadacopper.com.

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

The securities offered have not been and will not be registered under the Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities law. Certain of the information contained in this news release constitute "forward-looking statements". Such forward-looking statements include the company's expectations related to the closing of the private placement and the use of proceeds. Forward looking statements are not statements of historical fact and factors may cause the actual results, performance or achievements of the Company to be materially different from those set forth in such statements.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information