NEVADA COPPER APPOINTS NEW DIRECTOR
&
LAUNCHES PROJECT WEBSITE
Nevada Copper Corp. (TSX: NCU) ("Nevada Copper") The Board of
Directors of Nevada Copper is very pleased to announce the appointment
of Mr. Victor Bradley to its Board of Directors. Mr. Bradley is a Chartered
Accountant with more than 40 years of experience in the mining industry,
including 15 years with Cominco Ltd. and McIntyre Mines Ltd. in a wide variety
of senior financial positions from Corporate Controller to Chief Financial
Officer. Over the past 25 years Mr. Bradley has founded, financed and operated
several mining and advanced stage exploration and development companies.
In March 1994, Mr. Bradley founded Yamana Gold
Inc. (formerly ?Yamana
Resources Inc.?) collectively ?Yamana?. Mr. Bradley
served as its President and CEO until July 2003. By 2001, Yamana
had discovered, developed, financed and put into production the high grade Mina
Martha silver mine located in southern Patagonia, Argentina. Mr. Bradley
negotiated and consummated the reverse takeover of Yamana
by Santa Elina Mines of Brazil in the first half of
2003 and then moved, in July 2003, to serve as Chairman of the Board and
subsequently Lead Director until May 2008. As Chairman, Mr. Bradley helped
guide Yamana through the acquisition of Santa Elina?s gold assets, including a producing gold mine bought
from CVRD and five other significant corporate acquisitions, including Desert
Sun, Meridian, Northern Orion and Viceroy. By 2008, Yamana
had grown into an intermediate gold producer. Going forward, continuing growth
saw Yamana reach an annual rate of gold production of
over 1,000,000 ounces by late 2011. Additionally, copper production commenced in
early 2007 and annual production was about 135 million pounds per year for the
next 5 years. During his time with Yamana, Mr.
Bradley participated in many equity and debt financings. Today, Yamana has a current market capitalization of approximately
$13 billion.
Since November 2006 Mr. Bradley has been Chairman of Osisko
Mining Corp, one of Canada?s
modern mining success stories. Osisko?s
Canadian Malartic mine is now on track to produce
more than 600,000 ounces of gold per year for its first 5 years of mine life. Osisko arranged project financing of greater than $1
billion in debt and equity in 2009 for the Canadian Malartic
mine and has a current market capitalization of approximately $5 billion.
Mr. Giulio Bonifacio,
President & CEO commented, "On behalf of
Nevada Copper's Board of Directors, we welcome Vic to our team. Vic?s extensive background in leadership positions will
prove invaluable to Nevada Copper at our advanced stage of development, as we
move the Pumpkin Hollow copper project towards construction. Vic will bring his
many years of mining industry experience, his wide knowledge of the industry
and his many contacts to assist Nevada Copper as we move forward.?
Other Business Developments
On February 16, 2012, Nevada Copper launched its project website (www.pumpkinhollowcopper.com). This website is
intended to augment the corporate website (www.nevadacopper.com) that serves the
investment community. The project website is focused on the local and
regional community. Both the corporate and project websites will be
linked.
The project website provides more detail on the history of the project,
on the activities that are taking place and upcoming plans. It will
regularly update the community on the way the project is being designed to
protect the environment, on the status of permits, construction on the Advanced
Exploration shaft and on the people working on the project.
Following release of its Feasibility Study results on January 23, 2012,
Nevada Copper is actively pursuing permits for a 67,500 tons/day integrated
open-pit and underground copper operation. Nevada Copper has already
commenced shaft sinking operations (see February 21, 2012 News Release).
Now that the Feasibility Study has been published, discussions on project
funding arrangements for the integrated open-pit and underground copper
operation are currently underway.
An updated feasibility study will be released by Q3-2012 to incorporate
positive results of the 50,000 meter drilling program conducted since October
2010. The related mineral resources, reserves and pit designs will be
updated. Also the benefits of magnetite recovery and sales from the iron
magnetite resource will also be evaluated. These updates to the
feasibility study are expected to further improve the already-robust project
economics.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO