Nevada Copper Corp.
FRANKFURT : ZYT
TSX : NCU

Nevada Copper Corp.

January 30, 2008 08:30 ET

Nevada Copper-Designs 15,000 Meter Drilling Program to Expand Resource and Increases Land Position to 21 Square Miles

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2008) - Nevada Copper Corp. (TSX:NCU)(FRANKFURT:ZYT) ("Nevada Copper") is pleased to announce the expansion of its contiguous mineral land package from 12 to 21 square miles at its 100% owned Pumpkin Hollow Copper Property located in Nevada. In conjunction with the land expansion, Nevada Copper has designed a 15,000 meter drilling program primarily for purposes of further resource expansion and to test several highly prospective exploration targets. This drilling program is scheduled to commence in early 2008.

These recent developments are the result of the considerable success achieved in the 2007 drilling program that resulted in a recently announced updated resource estimate of 4.0 billion pounds of contained copper in the Measured & Indicated category and 3.9 billion pounds of contained copper in the Inferred category, 1.3 million ounces of gold, 57 million ounces of silver and 144 million tons of iron. For further details on the updated resource estimate please refer to Nevada Copper's new release dated November 2, 2007.

The upcoming 15,000 meter drill program is twofold in design. First, further resource expansion down dip and along strike where the deposits remain open in several directions. Second, follow up several mineralizing trends and geophysical anomalies. Additionally, targeted geotechnical, hydrologic and metallurgical data will be collected from the drilling in order to support the feasibility study planned to commence in 2008.

Results from the recent geologic modeling identified several areas within, near, and between deposits that contain considerable additional resource potential. In general, there are still large flank areas between the deposits that currently contain no drilling. There are also smaller magnetic "highs" that have not been drill tested. Two maps showing the several open areas of mineralization and exploration targets can be found at the following link: http://www.nevadacopper.com/i/pdf/2008-01-30_NRM.pdf.

Management in consultation with Tetra Tech MM Inc., an industry leading international engineering firm, believe this drilling program will increase the resource while also testing some very prospective exploration targets that may lead to further discoveries.

The following summary highlights the resource expansion potential at Pumpkin Hollow by deposit:

North Deposit

Within the open pittable North deposit several areas are targeted for drilling. The North deposit contains a high grade (plus 2 to 3 % copper) zone that is not fully defined and will require additional work to determine its maximum extent. Shallow high grade mineralization located along the northern portion of the deposit has not been closed off. Additionally, drilling in the eastern portion of the North deposit is widely spaced and mineralization remains open. The proposed drilling program will also focus on pit optimization, waste conversion, and expansion opportunities.

South Deposit

The South deposit has not been drilled on a sufficiently close pattern to eliminate the potential of expanding the South deposit along the northwest flank of the deposit.

There are also geophysical anomalies between the North and South deposits. Drilling is very limited and there is potential to expand the North or South deposit in either and/or both directions.

East and E2 Deposits

Recent drilling in the East deposit was successful in extending high grade mineralization along several trends within the deposit. The proposed program is targeted toward expanding these high grade zones. The 2007 drilling demonstrated that the high grade mineralization in the E-2 deposit is nearly continuous and open. Step-out drilling is proposed for the open mineralization down dip and along strike.

Exploration Targets - Trends, Anomalies & Land Position

Incorporation of regional and property geophysical anomalies, recent geological modeling, and the definition of high grade mineralizing trends following the 2007 drill program resulted in approximately 9 square miles of unpatented claims added to the property block. Nevada Copper has identified several prospective exploration targets at Pumpkin Hollow that will be tested in the upcoming drill program.

One of the exploration targets includes a large SW-NE magnetic high geophysical trend that exists between the E-2 Deposit and the Section 11 Target. Both areas have similar lithological and mineralization packages and follow the projected extension of the E-2 deposit.

The FG-20 target is located on the far western boundary of the East deposit drill pattern. Mineralization (locally 3-6% Cu) is hosted in the same flat lying magnetite skarn of the main East and could be continuous as well as open to the west. Several holes are planned to determine the extent of this high grade mineralization.

The assay program of the historic drilling core is ongoing. Last year over 5,300 meters (17,390 ft) had been analyzed. The program will continue to focus on ore intervals that lacked gold and silver assays as well as core intervals never split and analyzed.

The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, a Qualified Person as defined in Canadian National Instrument 43-101, who is responsible for the preparation of the technical information in this news release. All assaying and whole rock geochemistry is processed at the American Assay Laboratories (AAL) in Reno, Nevada. Samples are delivered from the project core.

About Nevada Copper

Nevada Copper is an emerging copper company, responsibly developing its advanced stage Pumpkin Hollow copper-iron property into Nevada's next copper mine.

Nevada Copper has embarked on a systematic fast-track program to develop its advanced stage Pumpkin Hollow Property by way of a resource delineation drilling program, continuing with metallurgical, geotechnical, hydrological studies and collecting condemnation and environmental baseline data for purposes of supporting a feasibility study planned to commence in 2008.

Nevada Copper has 36.6 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

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

  • Nevada Copper Corp.
    Eugene Toffolo
    Corporate Communications
    (604) 681-5755 or Toll Free: 1-877-687-5755
    or
    Nevada Copper Corp.
    Giulio T. Bonifacio
    President & CEO
    (604) 699-0023
    Email: info@nevadacopper.com
    Website: www.nevadacopper.com