VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 11/14/13 — Nevada Copper Corp. (TSX: NCU) („Nevada Copper“ or the „Company“) announces that it has SEDAR-filed its National Instrument 43-101 Technical Report Feasibility Study („Feasibility Study“) for its 100% owned Pumpkin Hollow Copper project located near Yerington, Nevada. The Feasibility Study is available at as well as the Company-s website, . The Feasibility Study reports the results of a stand-alone open pit operation (the „Stage 2 Open Pit Operation“ or „Stage 2“). The Feasibility Study builds upon the previously released feasibility studies in February, 2012 and December, 2012, all of which were prepared under the direction of Tetra Tech, Inc. („Tetra Tech“).
The Feasibility Study confirms the technical and economic viability of constructing and operating a stand-alone 70,000 ton-per-day open pit copper mining and processing operation. The Stage 2 Open Pit Operation would be located approximately 4 kilometers west of our 6,500 ton-per-day Stage 1 underground operation (the „Stage 1 Underground Operation“ or „Stage 1“) that is currently under construction. Development of the Stage 1 Underground Operation is supported by a feasibility study filed on SEDAR in December 2012. This operation will initially access ore from the East deposit and, if warranted, the E2 deposit. With all Stage 1 permits received on September 5, 2013 and a significant portion of project capital funding arranged, Nevada Copper is advancing towards production from the Stage 1 operation and, subject to receipt of permits and project funding, construction of the Stage 2 Open Pit Operation.
Production for the Stage 1 Underground Operation is expected to commence in 2015 with Stage 2 Open Pit Operation targeted for 2016, subject to the successful passage of the Lyon County Economic Development Land Bill (the „Land Bill“). It is anticipated that the Land Bill could be passed by Congress in 2013 or early 2014.
The following positive Stage 2 Feasibility Study results further support the Company-s decision to proceed with a two-staged development of Pumpkin Hollow as reported in the Company-s News Release dated April 23, 2013.
Upon successfully establishing production from both Stage 1 and Stage 2 operations, Nevada Copper-s projected annual average production for the first five years will be approximately 285 million pounds of copper; 45,000 ounces of gold, 1.1 million ounces of silver resulting in annual operating cash-flow of approximately $500 million which assumes a forward price curve reducing to a long term price of $2.75 per pound copper.
Highlights of the Stage 2 Open Pit Feasibility Study (all amounts are stated in United States dollars):
Readers should refer to the Feasibility Study for further details of the project development.
Qualified Persons
The scientific and technical information in this release has been reviewed and approved by Ed Lips, P.E., of Tetra Tech, overall manager for the Feasibility Study. Mr. Lips is an Independent Qualified Person within the meaning of NI 43-101.
This release was also reviewed by Gregory French, P.G., Vice-President Exploration and Project Development of Nevada Copper and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, both of whom are Non-independent Qualified Persons within the meaning of NI 43-101.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
We seek safe harbur.
Contacts: Nevada Copper Corp. Eugene Toffolo VP, Investor Relations & Communications 604-683-8266 or Toll free: 1-877-648-8266
Nevada Copper Corp. Robert McKnight, P.Eng., MBA Executive Vice President & CFO 604-683-1309
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