September 5, 2012 - Nevada Copper Corp. (TSX: NCU) (“Nevada Copper”) is pleased to announce that Mr. Giulio T. Bonifacio, President & CEO and Mr. Timothy M. Dyhr , Vice President, Environment & External Relations of Nevada Copper are scheduled to accompany Nevada Governor Brian Sandoval on his Trade Mission to China and South Korea in September.
Mr. Giulio Bonifacio, President & CEO stated “Nevada Copper seeks to solidify its collaborative relationship with Governor Sandoval and to expedite development of the Pumpkin Hollow Project. We also look forward to assisting Governor Sandoval in meeting his job creation goals in Nevada and to seek markets for copper concentrates in Asia. While in Asia, we will also highlight the positive attributes of the Pumpkin Hollow project, including Nevada’s favorable permitting regime and available local infrastructure.”
Governor Brian Sandoval of Nevada stated: “I am very pleased that Nevada Copper has accepted my invitation to join me on this Trade Mission. Nevada wants to be a premier trading partner with China and South Korea. We want to assure them that we are a great place to do business and to invest. We also want to assure them that a mine like Pumpkin Hollow in Nevada is the Right Place, and it can be permitted in a timely fashion under Nevada regulations with the highest environmental standards. Nevada is a mining powerhouse and can help meet world copper needs for decades to come.”
Asia will be a key market for copper as China now consumes nearly 40% of world copper production. Asia, including China, South Korea and Japan, also has the majority of available smelter capacity in the world and are expanding that capacity. Marketing of products and attracting investment capital from countries like China and South Korea are also key objectives of the Governor’s economic strategy. Exports will be a key component of Nevada’s economic recovery.
Mr. Timothy Dyhr, Vice President, Environment & External Relations stated “This is an opportunity for the people of Nevada, particularly Yerington and Lyon County, the latter of whom have suffered greatly during the recession. Nevada continues to lead the nation in unemployment and home foreclosures, and Lyon County still has the highest unemployment rate in Nevada, averaging over 16% for more than two years. The project will generate hundreds of construction jobs and high paying mining jobs with a projected $1 billion initial capital investment and initial mine life of 18 years while also jumpstarting the economy of Lyon County and Nevada.”
When informed of the Trade Mission Yerington Mayor George Dini stated: “Anything that Governor Sandoval, Nevada Congressional Delegation and Nevada Copper can do to bring this project forward is critical to the economic and social well-being of this community. We are still on economic life support here. Both the City and County continue to cut services and lay off people. The need for action on all fronts is critical.”
Land Conveyance Update
Nevada Copper is also pleased to announce that the company has signed an option agreement to acquire a Conservation Easement (“Conservation Easement Option”) on the Desert Creek Ranch in Smith Valley, which will prove to be a complimentary companion to the Yerington Land Conveyance and Sustainable Development Act (“Land Conveyance”). The lands included within the proposed conservation easement are located approximately 20 miles southwest of Pumpkin Hollow and are not part of the Land Conveyance lands. Exercise of the Conservation Easement Option is subject to passage of the Land Conveyance.
Timothy M. Dyhr, Vice President of Environment and External Relations stated “Nevada Copper decided enter into the Conservation Easement Option to secure prime Sage Grouse habitat in the Bi-state region of Nevada and California, the Desert Creek Ranch, as a companion conservation component to the Land Conveyance, once passed into law. “We believe this confirms our commitment to support passing this important legislation.”
In March 2010, the US Fish and Wildlife Service determined that the Bi-State population of Greater Sage Grouse constitutes a valid Distinct Population Segment (“DPS”). This distinction allows the Bi-State DPS to be listed as threatened or endangered under the Endangered Species Act independently from the range wide population. The Bi-State DPS comprises a genetically unique meta-population of greater sage-grouse that defines the far southwestern limit of the species’ range. The Bi-State DPS occurs over an approximately 170-mile long range, which is up to 60 miles wide and includes portions of eight counties in western Nevada and eastern California.
A Desert Creek conservation easement, once established, would help address one of the most critical environmental issues in the State of Nevada and Lyon County, the preservation of the Sage Grouse and more specifically the Bi-State population of the Sage Grouse. The easement is located in the Pine Nut Mountain and Desert Creek-Fales Bi-State Sage Grouse Planning Management Unit of the Bi-State DPS, and is classified by the Nevada Department of Wildlife as Essential and Irreplaceable Sage Grouse Habitat, important for summer, winter, and nesting habitat.
Ken Mayer, Director of the Nevada Division of Wildlife stated in a letter to Nevada Copper that: “it is critical that the Desert Creek Ranch remain intact for the future conservation of the Bi-State Sage-grouse” and that he “strongly supports Nevada Copper’s proposal to acquire a conservation easement on Desert Creek Ranch.”
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, 2011. 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.
Executive Vice President