July 31, 2015 - Nevada Copper Corp. (TSX: NCU) ("Nevada Copper" or the "Company") is very pleased to provide an update on progress of permitting with the Nevada Division of Environmental Protection ("NDEP") -- Bureau of Air Pollution Control ("BAPC") for its 100%-owned Pumpkin Hollow project located near Yerington, Nevada.
On July 30, 2015, BAPC issued the revised Class II air quality operating control permit for a 70,000 tons per day underground and open pit mines feeding a single copper concentrator ("Integrated Project"). This is in addition to the current air permit, which will be retained, for a stand-alone 6,500 ton per day underground concentrator. The air quality permit covers particulate emissions, electrical generators and fugitive dust. Since the estimated emissions for any one pollutant are less than 100 tons per year, Pumpkin Hollow is classified as a minor source (Class II). The Integrated Project does not involve any hazardous emissions of criteria pollutants from thermal or chemical processes.
Timothy M. Dyhr, Vice President of Environment and External Relations commented: "Receipt of the air quality permit is a significant milestone. Our reclamation permit is also near completion with the close of the public comment period on July 24th. No comments were received by NDEP. Therefore, the Company expects to receive the reclamation permit in early August. At that time, we will have all of the necessary State environmental permits to develop the much larger open pit and underground operation."
With full oversight from NDEP, the Company continues to address all aspects of environmental protection -- air, water, waste, reclamation, cultural resources, spill prevention and control, drinking water and storm water.
Previously, the Company announced (News Release July 17, 2015) that the Bureau of Land Management ("BLM") issued the Decision Record and Finding of No Significant Impact that fulfills the environmental review for the Congressionally-mandated Yerington Land Conveyance. Upon completion of a 30-day notice period, the BLM can issue a "patent", or property deed, to the City of Yerington (the "City"). The land acquisition remains on track for a Q3 2015 closing. The Company continues to work closely with the City and the BLM on the patent and payment for the land to finalize the conveyance. Subsequently, the City will re-convey a major portion of those lands to Nevada Copper.
For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.
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 are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: management's expectations of completion of the permitting and land acquisition by Q3-2015, expectations as to the results of the planned underground and surface drilling programs, as well as the Company's plans in general at the Pumpkin Hollow Project.
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 mineral 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: requirements for additional capital; 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; unanticipated political events in the United States, 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 March 17, 2015. 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