Nevada Copper Corp.
FRANKFURT : ZYT
TSX : NCU

Nevada Copper Corp.

September 21, 2007 18:03 ET

Nevada Copper Corp.: Escrow Period Reduced as Result of TSX Listing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2007) - Nevada Copper Corp. (TSX:NCU)(FRANKFURT:ZYT) ("Nevada Copper") -

On August 16, 2007, the shares of Nevada Copper began trading on the TSX. As of the date of listing on the TSX, a total of 11,410,080 Common Shares (the "Escrowed Shares") owned by Giulio T. Bonifacio, Joe Kircher, Brian Kirwin and Foster Wilson (the "Escrow Shareholders") remained subject to escrow conditions. On August 16, 2006 (the "QT Completion Date") Nevada Copper (formerly, Astron Resources Corporation) completed a qualifying transaction (the "QT") as a Tier 2 issuer on the TSX Venture Exchange (the "TSXV") involving the acquisition of the Pumpkin Hollow copper property. Pursuant to the QT, a total of 14,216,800 common shares and 4,800,000 special warrants of Nevada Copper (the "Total Escrowed Securities") were issued to the Escrow Shareholders and placed into six year escrow under the policies of the TSXV to be released in equal portions based on the passage of time. On February 8, 2007, Nevada Copper's classification on the TSXV changed from a Tier 2 issuer to a Tier 1 issuer which resulted in a reduction in the escrow term on the Total Escrowed Securities from six years to three years. As a result of Nevada Copper's listing on the TSX, the remaining Escrow Shares are subject to the National Escrow Policy 46-201 concerning escrow which will effectively reduce the escrow term from three years to 18 months from the QT Completion Date. In that connection, the Escrow Shareholders will enter into a new escrow agreement with Nevada Copper and Pacific Corporate Trust Company to reflect the escrow conditions on 4,754,200 Escrow Shares that will remain in escrow under National Policy 46-201. The final escrow release date is February 16, 2008 at which time the remaining Escrow Shares will be released from escrow and become free trading.

ON BEHALF OF THE BOARD OF DIRECTORS OF NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.

Contact Information

  • Longview Capital Partners Incorporated
    Eugene Toffolo
    (604) 681-5755 or Toll Free: 1-877-687-5755
    or
    Nevada Copper Corp.
    Susan L. Wilson
    Corporate Communications
    (604) 688-7508
    (604) 681-0122 (FAX)
    Email: info@nevadacopper.com