Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

September 16, 2014 03:15 ET

U.S. House of Representatives Unanimously Passes Lyon County Bill

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2014) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or "Company") is very pleased to announce that the U.S. House of Representatives has unanimously passed H.R. 5205, the Northern Nevada Land Conservation and Economic Development Act ("Northern Nevada Bill") on Monday, September 15, 2014. That bill includes the Lyon County Economic Development and Conservation Act (the "Lyon County Bill" or "the Bill").

With passage of the Lyon County Bill, permitting the much larger Stage 2-70,000 tons per day open pit mine can be finalized in early 2015 at the Company's 100% owned Pumpkin Hollow copper project. The project, located near Yerington, Nevada also includes a Stage 1-6,500 tons per day underground mine which is already permitted and in construction.

Attention now turns to passage of the Lyon County Bill in the Senate. Both Majority Leader Senator Harry Reid (Democrat-Nevada) and Senator Dean Heller (Republican-Nevada) have previously stated their support when it was introduced on a bi-partisan basis in the Senate in 2013. Passage of the Lyon County Bill by the Senate would allow for signature into law by President Obama in 2014. Once signed into law, the land acquisition must be completed within the six month period mandated by the Bill. During this period, Nevada Copper would complete the remaining Stage 2 State permitting. Local and state officials are urging quick passage in the Senate, considering that the Lyon County Bill is not controversial and would have major economic benefits in one of the most economically depressed communities in Nevada and the nation.

Giulio Bonifacio, President and CEO, comments: "This is a significant milestone in our joint effort with Lyon County and the City of Yerington to pass the Lyon County Bill. Enactment of this Bill greatly enhances our ability to become fully permitted by early 2015 on our much larger Stage 2, open pit mine. Our Stage 2 open pit mine currently represents proven and probable reserves of over 4.1 billion pounds of copper with a mine life of 22 years and annual average production of over 220 million pounds in the first 5 years."

The Lyon County bill has received full, bipartisan support in the House and Senate that reflects years of efforts by local stakeholders, including the entire Nevada Congressional delegation, the County, the City, the Company, ranchers, recreationists, wilderness advocates, and external organizations to craft a compromise that works.

Timothy M. Dyhr, Vice President, Environment and External Relations, commented: "This bill has been before Congress since 2011 and has been fully scrutinized. We commend Congressman Horsford, Congressman Amodei and new House Majority Leader Kevin McCarthy for getting this bill passed. We look forward to passage in the Senate."

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 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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