Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

December 03, 2014 11:20 ET

Nevada Copper Project Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 3, 2014) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or the "Company") is pleased to provide an update on its 100% owned Pumpkin Hollow Copper Project ("the Project"), located near Yerington, Nevada. The update relates to developments in the U.S. Congress relating to the Land Bill and project financing.

Land Bill Status

The Lyon County Economic Development and Conservation Act ("the Bill") has now been included in the National Defense Authorization Act (NDAA), a bill that has passed Congress without fail for 51 consecutive years. Senate and House leadership reached the deal and published the bill late on December 2, 2014 and will now bring it to the floor of both Houses for passage, which is expected next week. NDAA is a "must-pass" piece of legislation and Senators agreed to include the resources title yesterday. The text of the NDAA is now public. The Yerington legislation is referenced as Section 3009 starting on Page 1144.

Giulio Bonifacio, President and CEO, stated: "We are very pleased to hear that our bill has been included in the NDAA. We are advised by the Nevada Congressional delegation and our Washington representatives that the NDAA, as now published, has broad bipartisan support in the Senate and House. Senator Heller and Reid have announced that they expect this bill to pass in both the House and Senate by next week."

Nevada Copper is very confident that the NDAA, and thus, our land bill, will pass. Once signed into law by President Obama, the legislation requires that legal acquisition and transfer of the land to the City of Yerington must be completed by the Bureau of Land Management within 180 days of passage. During this period, Nevada Copper would work to complete the remaining Stage 2 State permitting. The Company and the City of Yerington have already been collaborating on work needed to meet that 180-day deadline and sets the stage for issuance of all key Stage 2 permits by Q2-2015. Passage of the bill also has positive cost implications for the Stage 1 and Stage 2 projects.

Nevada Copper will provide more detail once the NDAA bill is passed by both Houses and signed into law.

About Nevada Copper

The Company's advanced stage Pumpkin Hollow project in Nevada consists of a fully permitted, 6,500 tons/day Stage 1 underground copper mine development, currently in construction, and a nearby Stage 2, 70,000 tons/day open pit mine copper project in the advanced permitting phase. Expected average copper production for the first five years is 75 million lbs./year from the Stage 1 underground mine, and 221 million lbs./year from the Stage 2 open pit mine. The project is located near Yerington, Nevada, close to road, rail, and power infrastructure, and with all future water supply requirements met.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and the Pumpkin Hollow project website (www.pumpkinhollowcopper.com).

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

We seek safe harbour.

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