Nevada Copper Provides Positive Operational Update

Key Ventilation Project Completed, Significant Ore Stockpile and Mill Restart Preparation

YERINGTON, Nev., June 15, 2023 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) provides an update on progress of its operating restart activities at its Pumpkin Hollow underground copper mine (the “Underground Mine”).

Randy Buffington, President and CEO of Nevada Copper, stated, “We are extremely pleased with the accelerating progress as we prepare for the near-term commencement of processing operations and concentrate production.”

Key Operational Updates

• Development Mining Progressing Ahead of Schedule – as previously reported in Nevada Copper’s May 16, 2023 press release, Small Mine Development, LLC (“SMD”) mobilized to site and worked with the Company to efficiently establish and onboard their crews and move equipment underground to support the commencement of SMD’s development activities on June 1. Six working faces were made available to SMD to accelerate primary and secondary lateral development. Mine development in the EN Zone, beyond the completed dike crossings, continues to encounter competent rock as predicted by the Company’s geotechnical model.
• Significant Surface Ore Stockpile Increasing – the surface stockpile is currently approximately 50,000 tons of ore, with the majority crushed on surface and ready for commencement of milling operations. With the mobilization of SMD complete and accelerating mining rates, it is expected the surface stockpile will continue to grow on an accelerated basis, positioning the Company well for the planned restart of milling operations next quarter.

• Key Ventilation Raise Commissioned – the key ventilation raise noted in the Company’s May 16, 2023 press release is fully complete with the fans commissioned. This raise represents the remaining piece of the main ventilation infrastructure to provide fresh air circulation to all active areas of the mine, specifically into the EN Zone.

• Mill Readiness – in addition to the restart of ore stockpile crushing on surface, several other key mill and process systems have been tested, in preparation for a smooth restart of processing operations next quarter. Several opportunities to improve the paste plant operation that are expected to lead to further improvements in operating costs for dry stack tails, tails filtration and paste delivery are under investigation.
• Process Improvements – changes to the reagent scheme and distribution system are expected to demonstrate further improvements in metallurgical performance, primarily recovery and concentrate grade, based on testing conducted over the last six months.