Construction Projects Continue To Make Progress At Pumpkin Hollow

YERINGTON, NV - Randy Buffington, President & CEO of Nevada Copper, said, “We continue to make excellent progress on the construction projects that are required ahead of stope mining and milling activities at Pumpkin Hollow. The vent shaft stripping and excavation for the ore handling system are well underway. Ongoing mining and development activities advancing towards higher grade EN Zone stoping areas continue to demonstrate competent rock quality and ground conditions as predicted in the geotechnical rock model, fully in-line with expectations. We are currently on track to meet our primary restart and ramp-up goal of achieving nameplate milling capacity by the end of 2023.”

Nevada Copper’s principal objective for 2023 is to have the Underground Mine operating at nameplate milling capacity of 5,000 tons per day by year end with all critical underground infrastructure complete and sufficient advance development to support sustained operations. Underground lateral development of 24,000 feet is planned for 2023 to establish capital headings and stope development ahead of the commencement of stope mining planned in the third quarter of 2023. Mill restart is scheduled for late Q3 2023 at an expected rate of approximately 3,500 tons per day, ramping up to 5,000 tpd by the end of 2023.