Nevada Copper VP Appointed as SME President - Designate
February 26, 2014 - Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or “Company”) is pleased to announce that Mr. Timothy Arnold, Vice President Operations for Nevada Copper, has been named by the Society for Mining, Metallurgy and Exploration’s (“SME”) Nominating Committee as its candidate for President-elect Designate. Subject to ratification in February of 2015, Mr. Arnold would serve as President of the Society from February 2016 to February 2017.
Giulio Bonifacio, President and CEO, stated: “We are in a very exciting phase at our Pumpkin Hollow project where we are adding top caliber professionals to our senior team. To attract a person of Tim’s caliber and experience this past October is a major accomplishment and further complements our team. Tim has hit the ground running to provide the leadership of our construction and operations team.”
Mr. Arnold is a Registered Professional Mining Engineer with more than 30 years of experience in mine engineering, underground and open-pit mine operations, 12 of those years on Nevada mining projects. As previously reported, Mr. Arnold’s past experience includes being the General Manager at the Mt. Hope and Liberty molybdenum projects for General Moly, Inc. in Nevada, primarily responsible for building the Mt. Hope operating team, developing operating systems, processes and policies, coordinating the transition to start-up, and managing local stakeholder relationships. Prior to that, Mr. Arnold was Vice President and General Manager of Coeur d’Alene Mines where he managed the underground Kensington Gold Mine project. Mr. Arnold also held the position of Vice President and General Manager at the Coeur Rochester mine, a silver/gold open pit operation in Nevada. During his tenure at the Rochester mine, it was ranked as one of safest medium-sized mines in Nevada by the Nevada Mining Association. Mr. Arnold’s other roles included General Manager of Hecla’s Lucky Friday mine, Mine Superintendent of Barrick’s Bullfrog mine and Senior Underground Operations Engineer with Independence Mining.
Mr. Arnold stated: “It is an honor and a privilege to be nominated for this position. SME is a professional society with more than 15,000 professional members serving the minerals industry in more than 85 countries. It has provided invaluable service to the industry over the years. I believe strongly that people are a mining company’s greatest asset, and one of SME’s core values is to be the resource and advocate for the mining community by developing the skills and knowledge of its members. My most exciting challenge over the next several years is, not only to help build the physical assets of Nevada Copper’s Pumpkin Hollow copper project, but to also help build a safe workforce for our Stage 1 underground operation for over 400 people.”
The Stage 1 underground mine is scheduled for initial ramp-up of production in late 2015, and will have a permanent workforce of approximately 400 people. Nevada Copper also seeks to expedite the development of the Stage 2 open pit operation pending passage of the Lyon County Economic Development and Conservation Act in Congress. Passage of that bill would more than double the number of mine jobs, 2-3 years sooner, to a total combined workforce of approximately 1,000 workers. That is in addition to the approximately 200-500 workers who will be needed for construction of those two stages of the project.
Nevada Copper also announces the launch of its newly-updated corporate website: www.nevadacopper.com. This website, with its new user interface, will make it easier for users to access the most sought after information such as news releases, corporate presentations and financial statements, as well as technical information on mineral reserves and resources related to the Pumpkin Hollow project. The site also has a link to the Pumpkin Hollow project website www.pumpkinhollowcopper.com that focuses on project activities and stories important to the local and Nevada community.
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 September 19, 2013. 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.