Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

May 29, 2012 08:30 ET

Nevada Copper Intersects 470 Feet at 0.73% Copper in the North Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 29, 2012) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper") is pleased to announce additional step-out drill results from its 100% owned Pumpkin Hollow Property located near Yerington, Nevada. The drill holes reported below represent results from the on-going 50,000 meter step-out and expansion drilling program. To date 85 holes totaling 44,000 meters have been drilled. Two exploration drill rigs are currently active at the Pumpkin Hollow project. Additional drill results will be released as they become available.

On February 6, 2012, Nevada Copper SEDAR-filed a National Instrument 43-101 Technical Report Feasibility Study for the Pumpkin Hollow Copper project based on a mineral resource developed from drilling results to October 2010. Drilling results since October 2010 which have been extremely positive will be incorporated into an updated mineral resource to be released in July 2012. From this updated resource, a new mineral reserve and related mining plans will be developed as part of a feasibility study update, targeted to be released in October 2012. The updated feasibility study will also incorporate the benefits of magnetite recovery and sales from the project's iron magnetite resource. The dual benefits of the iron resource and the anticipated expansion of the project's copper reserves are expected to have a positive impact on already favorable project economics.

The drill results reported below represent holes drilled in the open pittable Western deposits: five holes drilled on the edges of the North deposit and two holes between the North and South deposit. The holes have intersected new mineralization within or just outside the outside the current NI 43-101 Feasibility Study ultimate open pit limits.

Drilling along the southwest edge of the North deposit, Drill hole NC11-51 intersected mineralization at the boundary of the current designed pit, several zones were intersected, the largest zone, 470 feet (143.2 meters), 407 feet (124.0 meters) true thickness grading 0.73% copper. Additional step out drilling continues in this area and still remains open in several directions.

Drill hole NC11-47 was drilled in the northeast sector of the North deposit where multiple zones of mineralization were intersected. The mineralized zones are just outside and within the present ultimate pit limit. Mineralization along the northeast border remains open and follow up drilling is in progress.

Drill hole NC11-41, 42, and 46 targeted the mineralization along the southeastern portion of the North Deposit and drill hole NC11-44 along the southwestern portion of the deposit. Mineralization continues to be intersected. Drilling continues to extend and confirm the continuity of mineralization along the southern border of the North deposit.

Drilling continues to intersect mineralization between the North and South deposits. Drill holes NC11-40; NC11-45; and NC12-02 all intersected mineralization. Drill hole NC11-40 intersected, 191 feet (58.2 meters), 146.3 feet (44.6 meters) true thickness grading 0.25% copper. The mineralization remains open and additional drilling is planned.

Gregory French, Vice President, Senior Project Manager, commented, "Drilling continues to focus on expanding mineralization along the edges of the open pit deposits, and expanding the mineralized zones previously discovered between the North and South open pits. In addition to finding mineralization just outside the current Feasibility Study open pit limits, drilling has also encountered new mineralization within the pit boundaries - in areas previously modeled as waste. We believe the continued success of the expansion drilling suggests that the North and South pits will eventually merge, with positive implications for lowering strip ratios, improving overall mining efficiencies and lowering costs."

NORTH DEPOSIT - Assays greater than 0.15% Cu
Drill Hole # From To Length Length True Length Copper Gold Silver Mo
(m) (m) (m) (ft) (m) % (g/t) (g/t) (g/t)
NC11-41 235.0 249.9 14.9 49.0 11.4 0.36 0.025 0.8 0.003
265.2 271.3 6.1 20.0 4.7 0.78 0.022 0.8 <0.001
NC11-42 234.7 239.3 4.6 15.0 3.5 0.24 0.020 0.8 <0.001
NC11-44 370.3 387.1 16.8 55.0 15.5 0.34 0.054 1.7 0.009
405.4 420.6 15.2 50.0 14.0 0.27 0.071 1.4 0.011
429.8 435.9 6.1 20.0 5.6 0.18 0.025 1.0 0.002
452.6 457.2 4.6 15.0 4.3 0.32 0.041 1.7 0.002
461.7 466.3 4.6 15.0 4.3 0.43 0.465 2.4 0.003
480.3 486.2 6.1 20.0 5.6 0.34 0.060 2.2 0.006
495.3 519.7 24.4 80.0 22.5 0.50 0.088 2.8 0.004
NC11-46 182.9 201.2 18.3 60.0 16.6 0.58 0.051 2.2 0.008
265.2 271.3 6.1 20.0 5.5 0.32 0.030 1.1 0.013
296.7 307.9 12.2 40.0 9.3 0.18 0.019 0.8 <0.001
NC11-47 186.5 190.2 3.7 12.0 3.6 0.26 0.051 1.5 0.003
240.5 253.0 12.5 41.0 12.1 0.51 0.095 1.9 0.003
295.3 300.2 4.9 16.0 4.7 0.41 0.028 1.9 0.002
314.5 336.8 22.6 74.0 21.8 0.78 0.117 3.0 <0.001
357.8 364.2 6.4 21.0 6.2 0.37 0.018 1.0 <0.001
374.3 379.5 5.2 17.0 5.0 0.19 0.054 1.0 0.002
490.7 501.4 10.7 35.0 10.3 0.20 0.006 1.3 <0.001
527.3 554.7 27.4 90.0 26.5 0.26 0.015 1.2 <0.001
NC11-51 161.5 167.6 6.1 20.0 6.1 0.28 0.028 0.8 0.001
245.4 253.0 7.6 25.0 6.6 0.59 0.090 2.6 0.013
341.4 355.1 13.7 45.0 11.9 0.31 0.194 0.9 0.006
365.8 509.0 143.2 470.0 124.0 0.73 0.119 2.5 0.014
NC12-01 No Significant Intercepts
BETWEEN NORTH & SOUTH DEPOSITS - Assays greater than 0.15% Cu
Drill Hole # From To Length Length True Length Copper Gold Silver Mo
(m) (m) (m) (ft) (m) % (g/t) (g/t) (g/t)
NC11-40 150.9 209.1 58.2 191.0 44.6 0.25 0.023 0.8 <0.001
NC11-45 129.5 192.0 62.5 205.0 47.9 0.20 0.024 0.8 <0.001
NC12-02 171.3 217.9 46.6 153.0 35.7 0.24 0.029 1.4 <0.001
228.6 242.5 13.9 45.5 10.7 0.20 0.027 0.8 0.001

Plan maps with the respective drill locations will be made available at http://www.nevadacopper.com/i/pdf/120528nr-maps.pdf.

The Pumpkin Hollow drilling program is under the supervision of Gregory French, CPG #10708, and 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.

About Nevada Copper

Nevada Copper has 73 million shares outstanding and is well funded with no debt and approximately $60 million in cash.

For additional information about Nevada Copper please visit our website at www.nevadacopper.com.

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

We seek safe harbour.

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