Nevada Copper has announced a series of important milestones in line with the current mine development schedule. These activities, which include the signing of a pre-works contract with Cementation USA Inc and the securing of key long-lead time items, de-risk the re-start of construction of the company’s Pumpkin Hollow Underground Project. These activities will allow the company to promptly advance the re-start of construction of its 5,000 t/d underground project, targeting first copper production in 2019.

Pre-Construction Highlights:

• Securing of Long-Lead Items: Procurement agreements to order SAG and ball mills for the processing plant, as well as mobile mining equipment, have been signed.
• Pre-Works Contract: Cementation USA Inc – a leading, global mining contractor – has been hired to prepare the shaft for re-sinking which, at approximately 1,900 ft, is just 250 feet from completion.
• Pre-Construction Site Work: The Company has begun transitioning infrastructure from care and maintenance to active status and has ordered long-lead underground mining equipment.
• New Staff Hires: A number of key operations and site team hires have been made; others are imminent.

Matt Gili, CEO of Nevada Copper, commented: “Construction readiness is at an advanced stage, and activity continues to ramp up at Nevada Copper’s Pumpkin Hollow Site. The preliminary steps taken, including negotiating key contracts as well as on site activities and ordering of long-lead equipment, are in line with the current schedule of the company and support the goal of first copper production in 2019.”

In anticipation of a re-start of full-scale construction activities, the company has initiated procurement of certain key long-lead items, including:

• SAG and ball mills for the process plant
• LOI signed with Caterpillar Financial Services Corporation for a lease on certain Caterpillar and Elphinstone underground mining equipment, and;
• LOI signed with Epiroc, an Atlas Copco company, for a lease on certain underground mining equipment.

“It is the company’s intention to sign binding agreements and place deposits on critical path items to ensure availability and lock-in costs. Furthermore, the company has Interim Services and Procurement Agreements in place in order to continue detailed engineering design and procurement of long-lead i

Nevada Copper has recently signed a pre-works contract with Cementation USA Inc, a leading global mining contractor with extensive worldwide experience in shaft sinking and underground mine development work. The signing of this contract allows for the preparation of the existing shaft and hoist infrastructure prior to the re-start of underground construction activities. Cementation USA Inc was previously engaged by the company in 2013 to commence shaft sinking and underground development and therefore has comprehensive, existing knowledge of the Underground Project.

In preparation for a re-start of construction, Nevada Copper has begun further site preparation and pre-works on its Underground Project, including:

• Transitioning infrastructure from care and maintenance to active status;
• Ordering of long-lead underground mining equipment;
• Ordering of new auxiliary hoist and main ventilation fans;
• Ordering of Galloway ropes and winches;
• Galloway structural refurbishment;
• Surface road upgrades and building site preparation; and,
• Testing of equipment, ventilation, and pumps.