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Base Metals Energy Junior Mining Nevada Copper

Nevada Copper Announces Further Progress with Underground Operations and Strategic Project Development

July 12, 2021View PDF

Yerington, NV – July 12, 2021 – Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (“Nevada Copper” or the “Company”) is pleased to provide an update regarding the ramp-up of the Underground Mine and development activities for the Open Pit project at its 100%-owned, fully-permitted Pumpkin Hollow Project in Nevada.

Production Ramp-Up Update

  • Safe and effective penetration of dike structure: The Company is in the process of safely completing the dike crossing. As reported on May 17, 2021, ground and hydrological conditions associated with the dike reduced development rates for a temporary period while traversing the dike to allow for grouting and ground control. With the completion of the dike crossing within the next two weeks, the Company expects to see lateral development rates increase back to planned rates this month.
  • Underground ventilation commissioned on-schedule: All underground ventilation fans were installed and commissioned during May, as planned. The final surface fans continue to be planned for delivery in Q3 2021 and commissioning in Q4 2021. Consequently, achievement of steady-state production continues to be expected in Q4 2021.
  • Successful completion of process plant C5 Testing: During June, Sedgman successfully completed C5 testing of the processing plant for grind size and moisture.

Mike Ciricillo, Nevada Copper’s Chief Executive Officer, stated:

“I am pleased with the continued progress with the ramp-up from Pumpkin Hollow. The safe penetration of the dike and commissioning of the underground ventilation system are significant de-risking steps and facilitate increasing development and production rates, as we progress to steady-state. The longer-term mine planning work being advanced indicates future potential upside for both Underground and Open Pit projects.”

Project Development

  • Underground Mine Planning supports potential for higher long-term production rates: As part of its project development objectives reported on March 1, 2021, the Company has progressed its life-of-mine planning aimed at operating its underground mine at an ultimate production rate in excess of the originally contemplated 5,000 tons per day rate. Mine planning work during Q2 2021 further supports the potential for the mine, once ramped-up to steady-state, to operate at higher long-term rates of 6,500 tons per day milled, increasing long-term annual copper production. This additional production capacity would also support accelerated mining of the significant additional underground copper resources that exist over and above the current underground reserve. Further engineering work will be undertaken during H2 2021 to support the potential for a higher long-term production rate from the underground operation.
  • Open Pit Solar Power Study indicates potential to further reduce Open Pit power costs: The Company has also progressed the planned feasibility studies for a potential solar project, with renewables consulting group Sprout Associates, with the following initial conclusions. Further updates will be provided upon completion of the next phase of study work:
    • Pumpkin Hollow benefits from ample sun and land to support a large solar project with the capacity to meet a significant portion of the Open Pit project’s power requirements;
    • The solar potential at the site is up to 200MW;
    • Already low grid power costs in Nevada could be materially further reduced through an on-site solar plant; and
    • A third-party solar project provides an option to remove upfront power infrastructure costs from the Open Pit project.

Balance Sheet Update

  • Further to the Company’s announcement on May 17, 2021, Pala Investments Limited has agreed to provide additional financing of US$25 million through a promissory note (in addition to the fully drawn existing US$30 million credit facility), providing additional liquidity for the ramp-up and addressing the reduced development rates associated with the dike grouting program. The Company has drawn US$15 million under the promissory note, with subsequent draws available at the Company’s option, subject to agreed use of proceeds. The promissory note has a maturity date of June 30, 2022 and bears interest at 8% per annum on amounts drawn. The promissory note was reviewed and approved by the independent members of the Company’s board of directors. In addition, US$9 million remains available to draw under the Company’s working capital facility with its offtake partner, Concord Resources Limited.
  • The Company has received proceeds of CAD$1.4 million for exercise of warrants so far in 2021. The Company has the potential to receive a further CAD$65 million of warrant proceeds should all the outstanding warrants expiring in January 2022 with an exercise price of CAD$0.20 (the “January 2022 Warrants”) be exercised prior to maturity. In addition to the January 2022 Warrants, a further CAD$34 million of warrant exercise proceeds may be received should the outstanding warrants expiring in July 2022 with an exercise price of CAD$0.22 be exercised in full prior to maturity.
  • The Company’s senior lender, KfW IPEX-Bank (“KfW”), has provided the Company with a 60-day extension to the project completion longstop date from June 30, 2021 to August 31, 2021, while the parties agree on a revised completion test and longstop date for the project. The Company will provide a further update once a revised project completion test and longstop date has been agreed with KfW. While the Company expects to agree on an appropriate revised date with KfW, there can be no assurance this will be achieved.
  • The Company continues to undertake near-term mine planning to incorporate the recent impact of the dike on development rates and other factors that have slowed the production ramp-up. It is possible that such mine plan updates may indicate higher operating costs and additional development capital and working capital requirements for the ramp-up than previously contemplated.

Qualified Persons

The information and data in this news release was reviewed by Greg French, C.P.G., and Norm Bisson, P.Eng., for Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.

About Nevada Copper

Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale Open Pit project, which is advancing towards feasibility status.

NEVADA COPPER CORP.

www.nevadacopper.com

Mike Ciricillo, President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179

Cautionary Language

This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development plans, production and ramp-up plans and the expected timing and results thereof, equipment installation, and further discussions with KfW.

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 are subject to known or unknown risks, uncertainties and other factors which may cause the actual results and events 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: the ability of the Company to complete the ramp-up of the Underground Mine within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of COVID-19 on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Mine; loss of material properties; interest rates increase; global economy; limited 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 from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2020 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 18, 2021. 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 forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law.

The Company provides no assurance that forward-looking statements and information 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 and information.

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Base Metals Energy Junior Mining

Huntsman Completes Phase I Drilling at Canegrass Nickel Sulphide Project, Western …

Proven and Probable

Press Release


Corporate Presentation

Figure 1

Peter Dickie, President and CEO for Huntsman, commented, “The final holes of Phase I are now complete. Hundreds of samples have been submitted to the lab for assays, and many more will follow. Due to the encouraging field analysis conducted by our expert team, we have already commenced the planning for Phase II of the drill program. We look forward to sharing further updates as results come in, including assays, and data and analysis from our property-wide survey activity.

For more information, please contact 1-855-584-0160 or info@huntsmanx.com.

 

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Base Metals Energy Exclusive Interviews Junior Mining Precious Metals

Mickey Fulp | Buy These Metals in 2021

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Transcript

https://youtu.be/UkmfJw8AFMU

Mickey Fulp, the Mercenary Geologist, sits down with us and shares his 40 years of geological and investment wisdom. We will discuss how the “New Green Deal’ will impact the Resource Space. We will first cover gold, silver, platinum, palladium, and rhodium. Mickey will provide a silver analysis that is a must-listen for speculators. Will SLV be the catalyst for a new high in silver? We will discuss the base metals copper, nickel, and uranium. As an added bonus Mr. Fulp will share some basic financial education, and which metals he is buying in 2021!

Website | http://mercenarygeologist.com/
Facebook | https://www.facebook.com/MercenaryGeologist
Twitter | https://twitter.com/mercenarygeo

Website | www.provenandprobable.com
Call me directly at 855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-maurice/

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Where we deliver Mining Insights & Bullion Sales. I’m a licensed broker for Miles Franklin Precious Metals Investments (https://www.milesfranklin.com/contact/) Where we provide unlimited options to expand your precious metals portfolio, from physical delivery, offshore depositories, and precious metals IRA’s. Call me directly at (855) 505-1900 or you may email maurice@milesfranklin.com.

Proven and Probable provides insights on mining companies, junior miners, gold mining stocks, uranium, silver, platinum, zinc & copper mining stocks, silver and gold bullion in Canada, the US, Australia, and beyond.


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Base Metals Energy Junior Mining

Granite Creek Announces Court and Copper North Shareholder Approval for Plan of Arrangement


Press Release


Corporate Presentation

https://youtu.be/nuzzNnEqmIg

Tim Johnson, President and CEO, stated, “We are pleased to be welcoming the Copper North shareholders to Granite Creek and look forward to delivering details on the expanded potential of the south portion of the high grade Minto District once the transaction is closed. Additional updates with respect to the 2020 field exploration and drilling programs are expected over the coming weeks.”

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca

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Filo Mining Corporate Update


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Adam Lundin, Chairman of Filo Mining, commented, “We are pleased to have someone of Carmel’s caliber join the Board at Filo Mining. The Company is at an exciting stage and Carmel’s skillset and experience, including the CD Capital team, will be valuable assets to our leadership team as we move the project forward.

SOURCE Filo Mining Corp.

Amanda Strong, Investor Relations, Canada at +1 604 689 7842 or info@filo-mining.com; or Robert Eriksson, Investor Relations, Sweden at +46 701 112 615 or reriksson@rive6.ch.

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Granite Creek Copper | Stock is Up 600% in 5 Months ! ! !


Transcript


https://youtu.be/nuzzNnEqmIg

In this exclusive interview, we sit down with Tim Johnson the CEO of Granite Creek Copper, to discuss the company’s latest strategic acquisition in the prolific Minto Copper Belt, where the company hosts its flagship Stu Copper Project. Note: More Copper will be used in the next 25 years than all of combined historic use! Find out why GCX has moved up more than 600% in the last 5 months, right here!

Granite Creek Copper: (TSX.V: GCX | OTC: GCXXF)

Website: https://www.gcxcopper.com/

Corporate Presentation: https://bit.ly/3gL3H8j  

Phone : 604-235-1982 Email: info@gcxcopper.com

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