Nevada Copper Annnounces Management Addition and Shaft Contract Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/29/11 -- Nevada Copper Corp. (TSX: NCU) ('Nevada Copper') Nevada Copper is very pleased to announce the strengthening of its construction management team and provide an update on the progress of its underground shaft contractor selection for its 100% owned Pumpkin Hollow Property located in Nevada.
Mr. Tim Dake has joined Nevada Copper as General Manager, Project Construction. Tim is a mechanical engineering graduate of the South Dakota School of Mines & Technology. He has had an extensive and varied career worldwide in the areas of project management, mill operations, and mine maintenance for such companies as Kinross Gold Corporation, Freeport-McMoRan Copper and Gold Inc., Kiewit Corporation and ASARCO.
Mr. Dake is currently a Reno resident and will be based at the Pumpkin Hollow project site near Yerington, Nevada. He will be responsible for all construction-related activities at the project, starting initially with the underground shaft construction. All permits for shaft and related underground development are currently in hand.
Mr. Giulio Bonifacio, President and CEO comments: 'We are very pleased that Tim has agreed to join our team. His many years of mine project experience will be invaluable as Nevada Copper moves to completion of its definitive feasibility study, commencement of shaft sinking in 2012 and future project construction activities. We are also pleased with the number and caliber of individuals that have shown interest in joining Nevada Copper. This appointment reinforces our belief that Pumpkin Hollow's superior location close to Reno will continue to attract high quality mining professionals to our team.'
Shaft Construction Progress
Under the guidance of Merit Consultants International Inc., firms interested in bidding were identified and an initial package of shaft construction bid documents and two addendums were provided to them. After an assessment of proposals received, selection of a shaft contractor is expected to be made in October. Nevada Copper is working toward establishing additional site infrastructure such as upgraded line power to support shaft sinking efforts. Mobilization of contractor equipment to site and engineering for shaft-related surface facilities is expected to start Q4-2011, with shaft collaring commencing by Q1-2012.
About Nevada Copper
Nevada Copper has 72.8 million shares outstanding and is well funded with no debt and approximately $77 million in cash. Nevada Copper is scheduled to release results of its Definitive Feasibility Study at the end of the fourth quarter 2011. Drilling results from its 20,000 meter step-out and expansion drilling program will be released as they come available.
For additional information about Nevada Copper please visit our website at www.nevadacopper.com.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
We seek safe harbour.
Contacts:
Nevada Copper Corp.
Eugene Toffolo
Corporate Communications
604-683-8266 or Toll Free: 1-877-648-8266
etoffolo@nevadacopper.com
Nevada Copper Corp.
Robert McKnight, P. Eng.
Executive Vice President
604-683-1309
bmcknight@nevadacopper.com
www.nevadacopper.com