Nevada Copper Releases Q1 Financials and MD&A; Remains on Schedule to Enter Production in Q4, 2019
May 13 2019 - 07:00AM
Nevada Copper Corp. (TSX: NCU) (“
Nevada
Copper” or the “
Company’’) is pleased to
announce that it has completed, and SEDAR-filed, its quarterly
financial statements and management’s discussion and analysis for
the period ended March 31, 2019. Additionally, the Company confirms
that its Pumpkin Hollow underground copper project remains on
target to commence production in Q4, 2019.
Construction Progress
Update
• Underground Mine development proceeding
well:
- Fully mechanized mining now active on both production levels
and lateral development has now advanced over 1,500 feet
- East North ventilation shaft vertical development has advanced
over 650 feet
• Surface infrastructure and processing equipment
advancing to plan:
- Sag, ball and vertical mills foundations and pedestals
complete
- Thickener tank foundation complete
- Coarse ore and temporary dry stack stockpile facilities
complete
- Conduit and initial foundation works for flotation, thickening
and filtration areas complete
- Structural steel for flotation area is being set
- Foundation work is progressing on the filter press and air
compressor areas
- Lining for the dry stack tailings cell one is almost complete
and the dry stack tailings test cell is finished
- Process plant equipment arriving on site on a daily basis
Recent drone footage of site progress can be
viewed here.
Corporate Progress Update
- Released a Pre-Feasibility Study for the Company’s adjacent
Open Pit project
- Expanded Pumpkin Hollow land package by 5,700 acres
- Subsequent to quarter’s end, executed USD$115 Million KFW
project facility and new financing package, including working
capital facility, new offtake agreements and CAD$40 Million equity
raise
Matt Gili, Chief Executive Officer of Nevada
Copper, stated “Nevada Copper’s skilled team continues to execute
the Company’s underground project at Pumpkin Hollow with an
exceptional level of efficiency, and I am delighted to confirm once
again that we remain on track to enter production in Q4, 2019.”
Construction Activity
Images
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/c0099497-1765-4e8c-93a2-7026ee1b6d8f
http://www.globenewswire.com/NewsRoom/AttachmentNg/ff32f3e7-fb4c-476f-96c9-4f32803f86b9
http://www.globenewswire.com/NewsRoom/AttachmentNg/b0ee0830-ee2f-46fa-b811-3455a56e213a
Please visit our website at www.nevadacopper.com
for updated construction progress photos and additional project
information.
Qualified PersonsThe
information and data in this news release was reviewed by David
Swisher, P. E., SVP of Operations for Nevada Copper, who is a
non-independent Qualified Person within the meaning of NI
43-101.
About Nevada CopperNevada
Copper’s (TSX: NCU) Pumpkin Hollow underground project is in
construction with a view to commencement of copper production in
Q4, 2019. Located in Nevada, USA, Pumpkin Hollow has substantial
reserves and resources including copper, gold and silver. Its two
fully-permitted projects include a high-grade underground project
(under construction) and a large-scale open pit project.
Additional Information
For further information please visit the Nevada Copper corporate
website (www.nevadacopper.com).
NEVADA COPPER CORP.
Matthew Gili, President and CEO For further information
call:
Rich Matthews,VP Investor RelationsPhone: 604-355-7179Toll free:
1-877-648-8266
Email: rmatthews@nevadacopper.com
Cautionary Language
This 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 are
forward-looking statements. Such forward-looking statements and
forward-looking information specifically include, but are not
limited to, statements concerning: the ongoing construction of the
underground mine, the commencement of production at the underground
mine, and other plans of Nevada Copper with respect to the
development, construction and commercial production at the Pumpkin
Hollow project, ongoing work on a new technical report and the
objectives and results thereof, ongoing exploration activities and
the objectives and results thereof, and ongoing discussions
relating to financing matters and the objectives and results
thereof.
Often, but not always, forward-looking
statements and forward-looking information can be identified using
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, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information.
Forward-looking statements and 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; adverse events
relating to construction and development; cost overruns; loss of
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 the Company’s 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 March 28, 2018. 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. Readers 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.
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