Progress At Pumpkin Hollow Copper Project

VANCOUVER, BC - Nevada Copper Corp. reported an update on its 100% owned Pumpkin Hollow Copper Project ("the Project"), located near Yerington, Nevada. The update focuses on production shaft progress, the Stage 2 open pit optimization, the Land Bill and project financing.

The production shaft is at a current depth of 1,475 feet: over 77% completed towards the main 1906 foot haulage level. Access to the 1906 haulage level for lateral development expected in Q1-2015. Sinking rates increased to a rate of 6-7 feet per day. Stage 2 Open Pit optimization and updated feasibility study commenced with a target date for release of Q1-2015 and, the Land Bill unanimously passed in the House of Representatives with passage expected in the Senate.

Giulio Bonifacio, President and CEO, stated: "We continue to make substantial progress in our key focus areas of shaft sinking, open pit optimization, permitting and financing. Our decision to temporarily reduce non-shaft sinking expenditures has allowed us the time to fully optimize and consider the funding mix for the balance of Stage 1 project capital. We have also continued to review the Stage 2 open pit project data with a view toward optimization, and now have sufficient encouragement to move forward with the completion of an updated and optimized feasibility study for Stage 2. The updated feasibility study will also incorporate a further 32,000 feet of drilling completed since the last published mineral resource estimate in 2012. On the Land Bill we recently saw passage of our Bill in the House of Representatives which is the most significant milestone to date and we are optimistic that passage of the Land Bill in the Senate may occur before year end. We have been advised that this remains one of the top priorities of Senator Heller (R-NV) and Senate Majority Leader Harry Reid (D-NV)."

The circular 24-foot diameter concrete-lined production shaft is currently at the 1,475 foot level - over 77% of the way towards the main 1906 haulage level. Since April 1, 2014, 804 feet of shaft have been sunk. During this time period a mid-shaft pump station was also excavated at the 960 level. The shaft continues to progress through dry ground with water inflows controlled by two fully-commissioned dewatering wells.

The 1906 foot haulage level is expected to be reached in January 2015 at which point lateral development will commence to provide setup locations for development drilling as well as access to the East ore zones. The last drilling in the East deposit was completed from surface in 2010, with the deposit remaining open in several directions. The planned underground drill program will focus on enlarging the high grade zones within the current reserve and will provide additional data for mine development designs while expanding the open mineralized areas.

After the Stage 2 Open Pit Feasibility Study was completed in 2013, results from 9,880 meters (32,414 feet) of additional drilling on the North Deposit were received. In Q2-2014, the Company decided to incorporate these drill results and ascertain if the data would improve the present mine design. In particular, drill hole NC12-34, on the southwestern edge of the North Deposit ultimate pit intersected 690 feet (210.3 meters), 625.3 feet (190.6 meters) true thickness, grading 1.17% copper.

The Company's advanced stage Pumpkin Hollow project in Nevada consists of a fully permitted, 6,500 tons/day Stage 1 underground copper mine development, currently in construction, and a nearby Stage 2, 70,000 tons/day open pit mine copper project in the advanced permitting phase. Expected average copper production for the first five years is 75 million lbs./year from the Stage 1 underground mine, and 221 million lbs./year from the Stage 2 open pit mine. The project is located near Yerington, Nevada, close to road, rail, and power infrastructure, and with all future water supply requirements met.