July 16, 2013 - Nevada Copper Corp. (TSX: NCU) ("Nevada Copper" or "Company") is pleased to provide an update on the final two permits needed for the Stage 1 underground mine. The two other key permits, the State reclamation permit and the Lyon County Special Use Permit have been issued (see June 10 and June 25, 2013 News Releases).
The Nevada Department of Environmental Protection ("NDEP") issued the reclamation permit after receiving no comments during a 30 day public comment period. The Lyon County Special Use Permit was issued after a unanimous decision by the Lyon County Commission.
Water Pollution Control Permit ("WPCP")
On July 10, 2013, NDEP issued the 30-day Public Notice to issue the modified Water Pollution Control Permit allowing for Stage 1 construction and operations. Subsequent to the 30-day public review, the permit modification will be issued. Nevada Copper originally received this Water Pollution Control Permit in 2008 in order to sink the current 2,400 foot, 24 foot diameter production sized shaft currently in progress and targeted for completion by Q2-2014.
Air Pollution Control Permit ("APCP")
Nevada Copper also submitted the application for an Air Pollution Control Permit in May 2013. The application is for a Class II, or minor, permit, and the only emissions from the project were particulates (dust). The emissions inventory and air dispersion modeling completed showed that the project, as designed with emission controls, would be well within ambient air quality standards.
NDEP deemed that application administratively complete on June 28, 2013. At that time the 30-day public notice period begins and runs concurrent with the NDEP technical review. NDEP had up to 60 days to provide technical comments and provided those on July 3, 2013 to Nevada Copper. The Company will submit responses to the NDEP comments by July 18, 2013. The technical items were minor changes to drawings and emission information. Based on the timely response by both NDEP and Nevada Copper, the Company expects to receive this Air Pollution Control Permit in August 2013.
Issuance of both the Water Pollution Control Permit and Air Pollution Control Permit are expected in August 2013.
Tim Dyhr, Vice-President of Environment and External Relations for Nevada Copper, stated: "Nevada Copper has worked diligently over the past six years with Nevada regulators to insure that the Pumpkin Hollow project is protective of the environment. We have now operated under the original 2008 permit for five years and have developed a cooperative and transparent relationship with both the local community and NDEP that has facilitated the receipt of these permit modifications."
Nevada Copper currently holds an Air Quality Surface Area Disturbance permit, so site civil work can commence at any time. Shaft construction is included under previous permits and is well underway. Detailed engineering for mining and processing is progressing and the construction schedule can easily be accommodated by the projected receipt of the last two permits needed.
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 news release, other than statements of historical facts, including the likelihood of commercial mining, securing as strategic partner, expanding the mineral resources and reserves and possible future financings are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: Nevada Copper Corp. (the "Company") plans at the Pumpkin Hollow Project; the timing of granting of key permits; from the Feasibility Study: the estimated metal production and the timing thereof; capital and operating costs, future metal prices and cash flow estimates derived from the foregoing.
Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as "plans", "expects", "potential", "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; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, 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; other risks of the mining industry as well as those factors discussed in the section entitled "Risk Factors" in the Company's Annual Information Form dated September 26, 2012. 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. 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. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. 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.
The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
For further information call:
VP, Investor Relations & Communications
Toll free: 1-877-648-8266
Robert McKnight, P.Eng., MBA
Executive Vice President & CFO