Nevada Copper Update on Lyon County Land Bill
May 12, 2014 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or “Company”) is pleased to provide an update on the Lyon County Economic Development and Conservation Act (the “Lyon County Land Bill”, or “the Bill”) related to its 100% owned Pumpkin Hollow copper project located in Yerington, Nevada.
The Lyon County Land Bill has achieved yet another significant milestone. The U.S. Senate has published its Senate Calendar/General Orders which officially lists the Lyon County Economic Development and Conservation Act (Senate bill S. 159) as ready for Senate floor action:
(See Link http://www.gpo.gov/fdsys/pkg/CCAL-113scal-2014-05-05/html/CCAL-113scal-2014-05-05-pt6.htm)
This recent development is considered a very important procedural step which will allow the Lyon County Land Bill to be brought to the floor of the Senate. Subject to scheduling amongst other Senate business, the Bill can now be brought to the floor of the Senate for a vote at any time. The Senate will be in session for May and June.
With the Senate Energy and Natural Resources Committee recommending passage, and having the full support of both Senator and Majority Leader Harry Reid (D) and Senator Dean Heller (R), we fully expect the Bill to be passed by the Senate.
Giulio Bonifacio, President and CEO, stated: “This recent development advances the land bill one step closer to passage. The passage of the land bill by the 113th Congress is critical to the economy of Yerington and Lyon County as they continue to suffer unnecessarily from chronic unemployment.”
On the House side, as previously reported on January 28, 2014, the House of Representatives, Committee on Natural Resources held a “mark-up” meeting on H.R. 433, the ”Northern Nevada Land Conservation and Economic Development Act.” That bill combined seven (7) separate land bills for northern Nevada that have all had Subcommittee hearings in the House. The ”Lyon County” bill (H.R. 696) is included as Title II of H.R. 433, the combined bill.
In communications with Senator Reid, Senator Heller, Congressman Mark Amodei and Congressman Stephen Horsford, Lyon County, the City of Yerington and Nevada Copper have been advised that this Bill is one of their top priorities and that they are working very hard to complete the procedural steps in the House and the Senate to get the Nevada bills passed.
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 a strategic partner, expanding the mineral resources and mineral 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, cash flow estimates, and economic indicators 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 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: 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 March 25 2014. 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