News Releases

Nevada Copper Closes Cdn$4.6 Million Equity Offering

June 9, 2016

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER June 9, 2016 - Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) announces that it has closed its previously-announced Cdn$4 million equity offering of common shares at Cdn$0.60 per common share (the “Offering”). The Offering, which was qualified by prospectus, was fully subscribed, including the full exercise of the 15% over-allotment option, resulting in total gross proceeds to the Company of Cdn$4.6 million. The final prospectus for the Offering was filed on June 3, 2016. At closing, Nevada Copper issued 7,666,667 common shares in the Offering, bringing the post-closing number of issued and outstanding common shares to 88,168,125.

A syndicate of agents, co-led by GMP Securities L.P. and Dundee Securities Ltd. (the “Co-Lead Agents”) and including Haywood Securities Inc. (collectively with the Co-Lead Agents, the “Agents”), acted as agents in respect of the Offering. Total debt and equity financings of Nevada Copper over the past week now total Cdn$15.1 million, including the Cdn$4.6 million gross proceeds of the Offering plus Cdn$10.5 million of debt funding announced on June 3, 2016. The debt financings include a US$5 million (Cdn$6.6 million) draw from a subordinated convertible loan facility with Pala Investments Ltd. and an advance of US$3 million (Cdn$3.9 million) under the Company’s existing senior secured loan facility with an affiliate of Red Kite Mine Finance. Details of the Offering and the loan advances were previously announced on May 27, 2016 and June 3, 2016.

The net proceeds from the Offering are expected to be used by the Company at its fully-permitted Pumpkin Hollow project in Nevada for engineering, ongoing property maintenance, and for working capital and general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a “U.S. person” (as defined in Regulation S under the U.S. Securities Act) unless an exemption from such registration is available.

Strategic Review Underway
With the near-term funding requirements of the Company now fulfilled and the Pumpkin Hollow project fully permitted, management and the Company’s board of directors can now turn their full attention to a review of Nevada Copper’s strategic options. Strategic involvement may take the form of a joint venture partnership with the sale of a minority direct project interest; a sale of the Company; project bank debt with, or without, associated offtake; or combinations of the foregoing.

Nevada Copper, with the support of its major stakeholders, will take the time necessary to carefully consider the strategic alternatives that are reflective of fair value for the Pumpkin Hollow project as a fully-permitted project, in an ideal location, with abundant infrastructure.

Pumpkin Hollow Copper Project
The Pumpkin Hollow project (the “Project”) is “shovel-ready”, subject only to finalization of the development plan and associated financing. As a fully-permitted, large-scale copper project located on 10,680 acres of private land in mining-friendly Nevada, the Project has attracted attention from lending institutions, engineering firms, copper smelters, State and local officials, as well our industry peers.

Giulio Bonifacio President & CEO comments: “We are fortunate to have a large degree of development flexibility at Pumpkin Hollow. We have two primary development concepts, a first-phase standalone underground, and a large combined open-pit/underground operation, both permitted and the subject of prior feasibility studies. However each of the two primary development options could be developed on an initial smaller scale at lower cost, focussed on higher grade zones, and expanded to their full potential as and when higher copper prices dictate. We will review these lower cost options as part of our strategic review process.

On the exploration front, the Project has considerable exploration upside in both the open pit and underground zones. The North open pit deposit is open to the south and north and, now that we control the surface and mineral rights in the northern area as a result of the Federal land purchase, permitting of drilling is much faster. The “saddle zone” between the North and South zone, where several high grade copper intersections have been made, continues to hold considerable promise. The Eastern underground deposits remain open to expansion. The JK34 zone between the East and E2 zones is highly prospective and, if further drilling is successful, could be brought into reserves and extend the life of the underground portion of the Project.”

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

Cautionary Language

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: statements regarding potential revised development plans at the Pumpkin Hollow property or the future completion of any strategic transaction, as well as the Company’s plans in general.

Forward-looking statements or information relate to future events and future performance and 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”, “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 actual results to be materially different from any anticipated 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: conditions in debt and equity financing markets, future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; 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 the Company’s 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 22, 2016. 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:
Eugene Toffolo
VP, Investor Relations & Communications
Phone: 604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com

Robert McKnight, P.Eng., MBA
Executive Vice President & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

Teamwork. Innovation. Execution.