|September 11, 2012|
Nevada Copper Appoints New Director And Announces Management Changes
|September 11, 2012 - Nevada Copper Corp. (TSX: NCU) ("Nevada Copper" or the "Company") is very pleased to welcome Jay Collins, P. Eng., as a new independent Director of the Company. As President of Merit Consultants International Inc. ("Merit Consultants"), Mr. Collins has been directly involved in the engineering and construction of mining projects for over thirty years. His years of field experience in project engineering and general contracting, combined with his management experience in leadership positions, result in a well-rounded and sound understanding of project construction and development of projects located world-wide. |
Merit Consultants were directly involved with the Company in certain contractor selection services while also providing the capital cost estimation for the January 2012 Feasibility Study, providing Mr. Collins with a very good knowledge of the Pumpkin Hollow Project and its development options.
Merit Consultants recently provided construction management services for the Copper Mountain mine, a new 35,000 ton per day open pit operation, and have been involved in the development and construction of over 160 mining projects including auditing, study participation as an Independent Qualified Person as well as in the execution of gold and copper plants in particular in Turkey, China, Australia, United States, Canada and South America.
Mr. Giulio Bonifacio, President & CEO commented, "On behalf of Nevada Copper's Board of Directors, we welcome Jay to our team. Jay's extensive background in development and construction in leadership positions will prove invaluable to Nevada Copper as we advance the Pumpkin Hollow copper project towards construction. Jay 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, while also adding a complimentary skill set to our existing Board of Directors."
The Company also announces that Robert McKnight, P. Eng., MBA, will assume the duties of Chief Financial Officer. Mr. McKnight has been with Company since 2010 in the capacity of Executive Vice President and will replace Mr. Joe Chan and assume the additional role of Chief Financial Officer.
Giulio Bonifacio, President & CEO commented: "On behalf of Nevada Copper we wish to thank Joe for his many years of service to the Company during its formative years and wish him well with his future endeavours."
As well, Nevada Copper announces the appointment of Gus McDonald, CA, as Corporate Controller. Mr. McDonald joined the Company earlier this year from Quadra Mining , a unit of KGHM, which has copper operations in eastern Nevada. Mr. McDonald is a chartered accountant with several years of industry experience and formerly worked with PricewaterhouseCoopers.
For additional information about Nevada Copper Inc. please visit our project website at www.pumpkinhollowcopper.com.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
Cautionary LanguageThis 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 as strategic partner, expanding the mineral resources and 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 and cash flow estimates 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 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 26, 2011. 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.
For further information call:
VP, Investor Relations & Communications
Toll free: 1-877-648-8266
Robert McKnight, P.Eng., MBA
Executive Vice President
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