April 12, 2011 - Nevada Copper Corp. (TSX: NCU) ("Nevada Copper") is pleased to announce positive drill results at the 100% owned Pumpkin Hollow Property located in Nevada. Drill-hole NC11-GT01 reported below represents assay results from the geotechnical drilling program. One drill rig is currently completing the geotechnical drilling program for purposes of the Definitive Feasibility Study scheduled for completion by June 30, 2011. Upon completion of the geotechnical drilling program, this drill rig will join two drill rigs that are currently drilling the 20,000 meter resource step-out and expansion drilling program that will test several areas of open mineralization and prospective targets. (Reference is made to the Company's November 25, 2010 News Release and drill target map on the following page.)
Drill Hole NC11-GT01 was drilled oblique to dip in order to collect geotechnical data along the lower portions of the E2 deposit. This drill hole was also successful in confirming the continuity of high grade mineralization intersecting 415 feet (126.5 meters), 149.9 feet (43.2 meters) true thickness averaging 1.84% copper, 0.28 grams gold and 8.3 grams silver. The interval included a higher grade zone averaging 230.0 feet (70.1 meters), 78.7 feet (24.0 meters) true thickness averaging 2.89% copper, 0.34 grams gold and 10.5 grams silver.
Gregory French, Vice President, Senior Project Manager, CPG, M.Sc., commented, "In addition to collecting geotechnical data within the underground development areas of the E2 Deposit we are very pleased that NC11-GT01 continues to expand the plus 2% copper zones. Expanding higher grade mineralization in the lower portions of the deposit will have a positive effect on future development designs. Our 2011 drilling program totaling 20,000 meters is focused on resource step-out and expansion drilling and will follow up newly-discovered mineralization from our 2010 resource definition drilling program and recent geotechnical drilling".
A cross section is available at www.nevadacopper.com.
E2 DEPOSIT - Assays greater than 1.0% Cu
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About Nevada Copper
Nevada Copper has 59 million shares outstanding and is well funded with no debt and approximately $23.5 million in cash. Nevada Copper is scheduled to release results from its Definitive Feasibility Study by June 30, 2011 in addition to ongoing drilling results from its resource step-out and expansion drilling program.
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.
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 and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this new release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. In particular, reference to the expanded high-grade mineralization having an expectation of a positive effect on development design ultimately may not prove to be true if such high-grade is limited in extent or too far from existing mineralization to be included in future development plans. Such forward-looking statements and forward-looking information include, but are not limited to, statements concerning: Nevada Copper's ("the Company") plans at the Pumpkin Hollow Project; the timing of granting of key permits, timing of delivery of key technical reports such as the Definitive Feasibility Study, estimated metal production and the timing thereof; and any capital and operating and cash flow estimates. Forward-looking statements or information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", anticipated ", "is targeted", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: history of losses; requirements for additional capital; dilution; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labour disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; legal and regulatory proceedings and community actions; title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; as well as those factors discussed in the section entitled "Risk Factors" in the Company's Annual Information Form dated September 24, 2010. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper's annual filings that are available at www.sedar.com.
For further information call:
|Giulio T. Bonifacio, President & CEO|
|Eugene Toffolo, Corporate Communications|
Toll free: 1-877-648-8266