Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

December 16, 2008 08:00 ET

Nevada Copper-Drilling Results Continue to Expand the Open-Pit North Deposit

Significant intercepts including 80 Meters (262.5 feet) of 1.15% Copper and 31 meters (101 feet) of 0.59% Copper.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2008) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or "Company") is pleased to announce ongoing success in confirming continuity and expanding the Company's North Deposit at its Pumpkin Hollow Iron Oxide Copper Gold (IOCG) Development Property located in Nevada. Drill results reported here represent results from the Company's recently completed 2008 drilling program which totaled over 26,000 meters of resource, geotechnical and hydrological drilling. To date, results from 36 of 73 holes drilled have been received and reported with further drilling results pending.

An updated resource estimate to incorporate over 26,000 meters of drilling and 16,000 meters of historic core that was assayed for gold, silver and molybdenum is scheduled for completion by the first quarter of 2009. Management expects the updated resource estimate to measurably expand based on extremely positive results received to date.

Drill holes NC08-15, 22, and 24 were drilled in the open pittable North Deposit as infill holes to establish continuity and convert inferred resources to measured and indicated resources. The holes encountered several large zones of open pittable grade mineralization. The largest copper zone encountered was in hole NC08-22 which intersected 80.0 meters (262.5 ft) averaging 1.15% copper. Also, infill drill hole NC08-24 was significant in that it intersected five zones of mineralization (greater than 0.3% copper) with an aggregate thickness of 121.2 meters (398 ft). The largest of these zones measured 41.0 meters (134.5 ft) averaging 0.40% copper.

Equally important, step out drill hole NC08-12 intersected 30.8 meters (101 ft), averaging 0.59% copper, demonstrating that the North deposit remains open to the east. The copper resource in the North Deposit as of October, 2007 stood at 2.4 billion pounds of copper at a 0.2% cutoff. NC08-12 was drilled 60 meters to the northeast of USS-80 (28 meters averaging 0.41% copper), which at the time was the furthest eastern drill hole. Drilling in 2009 is planned to follow-up on this exciting resource expansion opportunity.

A plan map showing the recent drill holes is available at http://www.nevadacopper.com/i/pdf/NC-01-0002-20081125.pdf. Drill results announced here represent true thicknesses.

NORTH DEPOSIT - Open Pit: Assays greater than 0.3% Cu



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From To Length Length Copper Gold Silver Mo
Drill Hole # (m) (m) (m) (ft) (%) (g/t) (g/t) (%)
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NC08-12 198.1 204.2 6.1 20.0 0.593 0.052 1.9 0.003
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217.9 231.6 13.7 45.0 0.800 0.052 2.0 0.003
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239.4 270.2 30.8 101.0 0.592 0.076 2.2 0.006
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278.1 283.0 4.9 16.0 1.317 0.087 3.8 0.008
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NC08-15 87.5 89.0 1.5 5 1.067 0.044 3.4 0.004
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(-75
degrees) 187.1 189.7 2.6 8.5 0.558 0.017 2.7 0.012
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217.5 223.9 6.4 21 0.314 0.014 1.3 0.007
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299.6 312.9 13.3 43.5 0.409 0.041 1.7 0.003
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389.5 397.1 7.6 25 0.506 0.049 1.7 0.008
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406.3 411.8 5.5 18 0.313 0.039 1.0 0.002
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441.3 485.5 44.2 145 0.328 0.040 1.2 0.003
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NC08-22 176.8 190.5 13.7 45.0 0.310 0.014 1.1 0.006
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254.7 334.7 80.0 262.5 1.150 0.083 4.3 0.007
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including 256.0 279.8 23.8 78.0 2.074 0.111 7.4 0.008
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365.8 371.2 5.4 18.0 0.393 0.139 1.9 0.006
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424.6 436.8 12.2 40.0 0.359 0.068 1.7 0.004
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NC08-24 192.9 219.7 26.8 88.0 0.523 0.030 2.3 0.012
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238.7 258.5 19.8 65.0 0.391 0.025 0.8 0.007
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278.3 297.9 19.6 64.5 0.541 0.018 1.1 0.006
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321.0 362.0 41.0 134.5 0.403 0.027 0.9 0.009
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390.4 404.4 14.0 46.0 0.651 0.044 1.8 0.003
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Open pittable resources on the property are included in both the North and South deposits. As of October, 2007 the combined NI 43-101 compliant resource classifications and average copper grades at a 0.2% copper cutoff for the open pittable deposits stood at: Measured, 19.6 million tons at 0.645% copper; Indicated, 142.3 million tons at 0.51% copper; and Inferred, 233.8 million tons at 0.44% copper for a total of 3.7 billion pounds of contained copper.

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 logging facility to AAL by Nevada Copper or AAL personnel. A Quality Assurance and Quality Control Assay Protocol have been implemented whereby blanks and standards are inserted into the assay stream and check samples are sent to Chemex-Reno and Inspectorate-Reno laboratories.

Nevada Copper has 40.6 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