Nevada Copper Reported Positive Open Pit Feasibility Study Results

VANCOUVER, BC - Nevada Copper Corp. reported the results of a National Instrument 43-101 Technical Report Feasibility Study ("Feasibility Study") for its 100%-owned Pumpkin Hollow Copper Project located in Yerington, Nevada. This Feasibility Study reports the results of a stand-alone open pit operation (the "Stage 2 Open Pit Operation" or "Stage 2"). The Feasibility Study builds upon the previously released feasibility studies in February 2012 and December 2012, which were prepared under the direction of Tetra Tech, Inc.

The Feasibility Study confirms the technical and economic viability of constructing and operating a stand-alone 70,000 ton-per-day open pit copper mining and processing operation. The Stage 2 Open Pit Operation would be located approximately 4 kilometers west of the 6,500 ton-per-day Stage 1 underground operation (the "Stage 1 Underground Operation" or "Stage 1") that is currently under construction. Development of the Stage 1 Underground Operation is supported by a feasibility study filed on SEDAR in December 2012. The Stage 1 Underground Operation will initially access ore from the East deposit and, if warranted, the E2 deposit. With all Stage 1 permits received on September 5, 2013 and a significant portion of project capital funding arranged, Nevada Copper is advancing towards production from the Stage 1 operation and, subject to receipt of permits and project funding, construction of the Stage 2 Open Pit Operation.

Production for the Stage 1 Underground Operation is expected to commence in 2015 with Stage 2 Open Pit Operation targeted for 2016, subject to the successful passage of the Lyon County Economic Development Land Bill. It is anticipated that the Land Bill will be passed by Congress in 2013.

The positive Stage 2 Feasibility Study results further support the Company's decision to proceed with a two-staged development of Pumpkin Hollow.

Upon successfully establishing production from both Stage 1 and Stage 2 operations, Nevada Copper's projected annual average production for the first five years will be approximately 285 million pounds of copper; 45,000 ounces of gold, 1.1 million ounces of silver resulting in annual operating cash-flow of approximately $500 million which assumes a forward price curve reducing to a long term price of $2.75 per pound copper.

"The completion of our Stage 2 stand-alone open pit Feasibility Study is yet another significant milestone achieved by Nevada Copper since the Company was formed in 2006," said Giulio Bonifacio, President and CEO. "The company is extremely pleased with these results as it further confirms that the Pumpkin Hollow project will support an economically-robust, large copper mine built on a staged basis which is unlike any other copper project currently in construction.

Bonifacio further commented, "It is our view that cash flows from Stage 1 will enhance the available financing alternatives for the much larger open pit operation which, once constructed, will transform Nevada Copper to a mid-tier copper producer. On a combined basis, Stage 1 and Stage 2 currently represent proven and probable mineral reserves of approximately 5 billion pounds of copper and annualized average production in the first five years of 285 million pounds of copper on a project that has an ideal geographic location with an extremely low risk profile."