Nevada Copper Provides Operations Update, Appoints Technical Advisor and Announces Filing of Q1 2020 Financial Statements

YERINGTON, Nev., June 01, 2020 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company’’) is pleased to provide an update regarding development progress and restart planning at its Pumpkin Hollow Underground Mine.

Accelerated Mine Development and Restart Planning

While the temporary suspension of copper production due to the impact of COVID-19 continues, the Company is making significant progress with its previously reported accelerated mine development plan, including:

• Vertical Development: Multiple key milestones have been completed on final configuration of the East Main Shaft, including:
     º Completion of the Main Haulage Shaft to final depth of 2,131 ft
     º Shaft ramp
     º Loading pocket excavation
     º Form work and concrete pour
     º 25 person underground refuge chamber
     º Underground fuel delivery station
     º Preparation for final furnishing of the production shaft is on schedule
   
• Ongoing Lateral Development Mining:
     º Advancing lateral development and underground infrastructure
     º Ongoing definition drilling to support mine planning
     º Further increasing ore stockpile ahead of the process plant restart, now sitting at over 95,000 tons
   
• Process Plant:
     º Restart planning is well advanced
     º Completion of the processing plant commissioning optimization and improvement initiatives
     º Preventative maintenance program underway, which is leveraging available time during the temporary suspension of copper production

The company intends to quickly complete its accelerated development plan and restart concentrate production in Q3 2020, subject to revision based on impacts of the COVID-19 pandemic and other factors.

Evan Spencer, Chief Executive Officer of Nevada Copper, stated, “We are excited to be progressing rapidly with our accelerated critical path development program moving us closer towards recommencing copper deliveries with increasing reliability. Completion of the main shaft to final depth is a key milestone for the project and allows us to commence the final phase of furnishing the shaft.”

“The speed of our progress is a testament to the dedication of our team and the support of our key suppliers and stakeholders during the recent period of uncertainty.”

Appointment of Technical Advisor