NORTH AMERICA'S NEXT LARGE-SCALE COPPER PRODUCER - Corporate Presentation TSX:NCU - Nevada Copper
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NORTH AMERICA’S NEXT
LARGE-SCALE
COPPER PRODUCER
Corporate
Presentation
July 16, 2018
TSX:NCU
nevadacopper.com
Cautionary Note
Forward-Looking Information
Certain statements contained in this presentation constitute forward-looking statements. All statements in this presentation, other than statements of historical facts, including analysis of
potential future mining operations, the likelihood of commercial mining, securing a strategic partner, securing of project funding, expanding the mineral resources and reserve are forward-
looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results of the Nevada
Copper Corp. (“the Company”) to be materially different from achievements expressed or implied by such forward-looking statements. Such forward-looking statements and forward-looking
information specifically include, but are not limited to, statements concerning the Company’s plans at the Pumpkin Hollow Project; from the 2017 PFS NI 43-101 report, the estimated metal
production and the timing thereof, capital and operating costs, future metal prices, cash flow estimates and economic indicators derived from the foregoing. Such forward-looking statements
and forward-looking information reflect the Company’s current expectations regarding future events and market conditions and speaks only as of the date of this presentation. The Company
assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable securities laws. Investors are cautioned
not to place undue reliance on these forward-looking statements.
This presentation describes “Measured”, “Indicated” and/or “Inferred” Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the
Securities and Exchange Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic
feasibility. It cannot be assumed that all or any part of any inferred resource will ever be upgraded to a higher category. Exploration is an inherently risky proposition and investors are
advised that most exploration projects fail to identify economic resources.
The mineral resource and mineral reserve estimates disclosed herein were developed by members of Sedgman Engineering, Mining Plus, Tetra Tech, Inc., and Stantec, Inc., all of whom are
independent Qualified Persons as set forth under Canadian National Instrument 43-101 (“NI 43-101”) and disclosed in the Technical Report entitled “ Pumpkin Hollow Development Options
– Pre-feasibility Study 5,000 tons/day Underground Project; Feasibility Study for a 70,000 tons/day Open Pit/Underground Project “ (“the 2017 NI43-101 Technical Report”) with an effective
date of September 15, 2017. All reserve and resource information has been prepared and filed in accordance with NI 43-101. Mineral resources that are not mineral reserves have not
demonstrated economic viability.
The Company has included certain non-IFRS measures in this material. The Company discloses “cash costs” or “C1 cash costs”, “All in Sustaining Costs” (AISC) and similar measures
because it understands that certain investors use this information to determine the Company’s ability to generate future earnings and cash flows for use in investing and other activities. The
Company believes that these measures, in addition to measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the
Company and to compare it to information reported by other companies. The non-IFRS measures are intended to provide additional information and should not be considered in isolation or
as a substitute for measures of performance prepared in accordance with IFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be
comparable to other issuers.
The technical information in this corporate presentation has been reviewed and approved by Gregory French, P.G. Vice President Exploration & Project Development and Robert McKnight,
P.Eng., Executive Vice President & CFO and David Swisher, P.E., VP Operations, all of whom are non-independent Qualified Persons as defined in NI 43-101.
This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or
solicitation in such jurisdiction. This presentation is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of
securities in the Company in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way
passed upon this presentation or the merits of the securities described herein, and any representation to the contrary is an offense. Since the securities are being offered in Canada on a
private placement basis pursuant to certain prospectus exemptions, there will be restrictions on the resale of the securities. None of the Company or any of the agents engaged by the
Company has any obligation to repurchase the securities described herein, except and only to the extent explicitly provided for in the terms of such securities. Purchasers of the securities
are advised to seek legal advice prior to any resale of the securities. The securities have not been registered under the United States Securities Act of 1933 (the “U.S. Securities Act”), or any
state securities laws, and are being offered and sold outside of the United States in offshore transaction in reliance or Regulation S under the U.S. Securities Act.
The Company’s actual results could differ materially from those anticipated in the forward-looking information as a result of the following factors: general economic conditions in Canada, the
US and internationally, geopolitical risk, risks associated with the business of exploration for minerals and mining, risks associated with exploration and development activities, marketability
of natural resources, ability to raise the necessary capital at competitive rates, title related risk, the Company has no operating history and no history of earnings, the Company is exposed to
currency fluctuations, the Company is subject to environmental regulations that may change during its development and operation, the Company is in competition with other mining
companies that may have greater resources and experience, the Company is dependent on key personnel, some of the directors of the Company are involved with other mineral resource
companies and may have conflicts of interest, legal proceedings against foreign directors, additional capital raising requirements will result in the dilution to the Company’s shareholders and
the Company has a material level of secured debt and the failure to adhere to the covenants associated therewith may trigger default rights for accelerated repayment.
2
The Right Project at the Right Time
Fully-permitted, shovel-ready copper project
Containing >5B lbs of copper
Targeting initial production in 2019
In a world-class jurisdiction
Run by a tier one team of mine builders
Supported by strong copper fundamentals
3
Nevada Copper Corporate Strategy
Become North America’s • Immediate focus on completion of underground construction
Next Large Scale Copper • Leverage sunk $220M capital to reduce cost and timeline
Producer • Target production in 2019
• Apply “margin-over-tons” philosophy
Realize Full Potential • Re-engineer open pit for reduced capex and accelerated development
of Open Pit and • Continue open-pit expansion drilling, convert target areas classified as
Property waste rock to ore
• Undertake systematic exploration of property and district
• Leverage existing asset portfolio
Build Next Mid-Tier • Pursue highly value-accretive growth opportunities:
Copper Producer • Low-risk, Americas-focused strategy
• Competitive advantage in district
• Ability to selectively pursue “on-strategy” M&A
4
Strong Copper Market Fundamentals
Risked Production Base Strong Demand
▪ 2017 saw first decline in copper output in 15 years ▪ Synchronized global economic growth
▪ 958kt (5% of supply) production lost to disruptions in ▪ New sources of demand from electric vehicles
2017, and multiple risk events upcoming in 20181 and green energy infrastructure
▪ Copper grades globally are declining, having fallen ▪ Chinese environmental agenda constraining
30% since 2000(2) scrap imports
Copper Supply and Demand Change in Copper Production by Region(1)
(Million tonnes) kt Cu | 2016 to 2020E
Surplus Deficit
1,193
25
Highlights Scarcity value of
892
new US copper projects
20
434
15
172 164
71
10
2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 -121
Africa Latin America / Asia / Russia / Oceania Europe North America
Base Supply Demand Caribbean Middle East Caspian
Market is transitioning into deficit following years of surplus
(1) Source: Wood Mackenzie
(2) Source: Codelco
5
Project pipelines are sparse, incentive pricing required
Copper supply built during the last cycle has been worked through, with few new projects ready to fill the gap1…
Existing Projects New Projects
90 10,000
80 9,000
3-Month Rolling fwd Copper Price
70 8,000
Copper Resource Size
(Mt Contained Cu)
60 7,000
Oyu Tolgoi
(US $/t)
50 Collahuasi (CL) (MN)
6,000
40 Los Pelambres 5,000
Andina
Expansion (CL)Los Bronces Toromocho Expansion
30 Expansion (CL) (PE) (CL)
4,000
Los Pelambres (CL) Antamina Las El Teniente (CL)
20 Expansion (PE) Bambas 3,000
Antamina (PE) Caserones/ Mina Cobre
10 Regalito (CL) Ministro Panana Chuquicamata 2,000
Batu Hijau (ID) Esperanza (CL) Salobo I (BR) Halees (CL) Underground (CL) Quellaveco (PE)
0 Corredor (CL) 1,000
1995 2000 2005 2010 2015 2020 2025
… Following a period of major underinvestment, $100bn of capex required over the next decade.2
$40
Capex Requirements (Next the 10 Years)
$30
(US$ Billions)
$20
$10
$0
Chile / Peru Other Latin Asia Canada/ Alaska Russia / Other Australia DRC / Zambia USA Other
America CIS
(1) Source: Aurubis
(2) Source: BHP Billiton
6
NORTH AMERICA’S NEXT LARGE-SCALE COPPER PRODUCER
Targeting 2019 for Initial
Copper Production
7
Only Fully-Permitted, Shovel-Ready Copper Project in the U.S.
Development Project Status(1) Permitted
Feasibility
Pre-Feasibility
Preliminary Economic Assessment World-class, long-life
copper deposit in a
Tier 1 jurisdiction
North Met
Arctic
Twin Metals
Copperwood
Florence
Van Dyke
Pebble
Black Butte
Rosemont
Ann Mason
Gunnison
Copper Creek
Resolution
Pumpkin Hollow
Fully-permitted,
shovel-ready project
Capital Intensity / Tonne of Cu Capacity (US$/t)(1)
Significant production scale
35,000
at a low capital intensity
30,000
25,000
20,000
Uniquely positioned to
15,000 benefit from the need for
10,000 new copper supply
5,000
0
(1) Source: Global Mining Research
8
The Right Team for the Right Project
Board of Directors Management Team
Stephen Gill, Non-Executive Chairman
Matthew Gili, P. Eng. President and CEO
▪ Managing Partner at Pala Investments Ltd. and former Director on various
▪ Comes directly from Barrick, where he served as Executive General Manager for
public mining company boards the Cortez District in Nevada and, more recently, as Chief Technical Officer and
▪ Prior to joining Pala, worked at AMEC Plc. advising on a range of natural resources transactions Senior Vice President, Operations Projects
▪ Mr. Gili has over 20 years of experience in the mining industry, having served in
Matthew Gili, P. Eng., Director a variety of senior executive roles at Barrick and Rio Tinto
• Mr. Gili serves as Nevada Copper’s CEO and President. He has over 20 years of experience in
the mining industry, having served in a variety of senior executive roles at Barrick and Rio Tinto
Phil Day, Chief Operating Officer
Tom Albanese, Director ▪ Vice President, Technical and Operations Team at Pala Investments Ltd.
▪ Currently a director of Franco Nevada ▪ Former VP Process Engineering at AMEC Americas, and with operational,
▪ Previously CEO of Rio Tinto plc and Vedanta Resources Limited managerial and technical roles for BHP Billiton, WMC Resources, Minara
▪ Previously served on the boards of Ivanhoe Mines Limited, Palabora Mining Company and Resources and Wiluna Gold
Turquoise Hill Resources Limited Robert McKnight, P.Eng.. Executive Vice President & CFO
Ernie Nutter, Director ▪ Over 35 years of mineral resources experience in engineering and project
▪ Previously 13 years as Mining Analyst at Capital Group finance.
▪ Prior to which spent 13 years with Royal Bank of Canada, as MD of RBC Capital Markets and ▪ Senior roles with Brascan, Wright Engineers, Getty, TOTAL, Endeavour
Chairman of RBC Dominion Securities Strategic Planning Committee Financial, Pincock, AMEC, Yukon Zinc, Selwyn Resources
Raffaele (Lucio) Genovese, CA Director David Swisher, P.E. Vice President, Operations
▪ CEO of Nage Capital Management, Chairman of Firestone Diamonds plc, ▪ Mining engineer with over 23 years senior mine operations and consulting
Director of Mantos Copper S.A., Ferrous Resources Limited and Ferrexpo AG experience with Getchell Gold, Cargill and others
▪ Former CEO of the CIS region and manager of the Moscow office at Glencore International AG Greg French, P.G. Vice President, Exploration & Project Development
▪ Geologist with over 25 years of exploration experience in the Western US and
Abraham (Braam) Jonker, CA Director Canada
▪ Chairman of Golden Reign Resources and Lead Independent Director of Mandalay Resources ▪ Previously worked with Homestake., Atlas Precious Metals, and Cornerstone
Corporation. Former CFO of Western Coal Corporation Industrial Min.
Justin Cochrane, Director Timothy M. Dyhr, Vice President, Environment & External Relations
▪ President and COO of Cobalt27 ▪ Led multidisciplinary teams to successfully permit copper and gold mines in
▪ Former Executive VP and Head of Corporate Development for Sandstorm Gold Ltd Nevada since 1983 & key environmental management roles with BHP Copper
Michael Brown, Director Rich Matthews, Vice President, Investor Relations & Marketing
▪ Managing Partner at Africa for Palaris • Experienced IR and marketing professional with successful track record of
▪ Former COO at De Beers Consolidated Mines Ltd. and former Head of Strategic Development international marketing programs
at De Beers, Previously Head of Technical at Pala Investments • Previously ran the IR for Fission Uranium – a multiple award-winning exploration
Evgenij Iorich, Director and development company
▪ Managing Partner at Pala Investments Ltd., Director of Peninsula Energy and Director of
Serinus Energy
▪ Over 15 years of investment and asset management experience
9
Scale and Infrastructure on Secured Land Package
2 Mines 5B lbs contained Copper 300M lb annual production 23 year mine life
City of
Yerington
Water Private Land Owned By Nevada Copper
Power
Paved Road Access
U/G
Open Pit
Private Land Owned By Nevada
Copper
Unpatented BLM Claims
Unpatented BLM Claims
Total Land Position: 27 square miles, 17,513 acres
Including Private Lands of 17 square miles, 10,683 acres
10NORTH AMERICA’S NEXT LARGE-SCALE COPPER PRODUCER
Advanced Underground
Development
11De-risked Development and Accelerated Lead Time
Combination of existing shaft, EPC build and mining contract de-risks project and shortens lead time
(1)
▪ Significant Invested Capital: US$220 million invested to date reduces upfront capital requirement
▪ Key Construction Milestones Completed: Concrete-lined production-sized shaft, 644 feet of lateral development
and significant above-ground work completed including head frame and hoist
▪ Risk Sharing Contracts: EPC build contract on process plant paired with an underground mining contract
(1) Source: Nevada Copper audited Financial Statements
12Economically Robust Underground Development Plan in Place
(1)
Underground Mine Highlights
Project
Robust economics Economics NPV5%/IRR: $301m / 25%
(Unlevered)(2)
Low upfront capex Capex Pre-production capex: US$182 million
First 5 Years LOM
(2)
Competitive opex Opex C1: US$1.68/lb Cu
AISC: US$1.86/lb Cu
C1: US$1.81/lb Cu
AISC: US$1.96/lb Cu
Construction
Short lead time Timeline
~15 months to first production
Production Y1-5 annual avg. of 60 Mlbs Cu, 9 koz Au, 173 koz Ag
Strong production profile Profile LOM annual avg. of 50 Mlbs Cu, 8 koz Au, 150 koz Ag
Annual free cash
Significant cash generation flow
Average US$80m per annum over first five years (3)
23.9 mt @ 1.74% Cu eq. (2.01% Cu eq. over first five
Reserves
years)(4)
Long life 13.5 years
Mine Life
Significant extension potential from identified resources
Enhanced project economics make Pumpkin Hollow a highly robust near-term mine
(1) November 2017 NI 43-101 Technical Report.
(2) AISC is defined as C1 plus sustaining capital expenditures.
(3) Consensus prices per the 2017 NI 43-101 Tech Report : US$2.62-3.20/lb Cu, US$1,254-$1,325/oz Au, US$17.31-$20.01/oz Ag 13
(4) Cu-equiv based on price s of $3.00/lb Cu, $1,300/oz Au and $17.00/oz Ag and met recoveries of 92%,78% and 70% respectively.Significant Underground Resource Upside
- Large quantity of inferred mineralization presents significant opportunity to upgrade with underground drilling
14NORTH AMERICA’S NEXT LARGE-SCALE COPPER PRODUCER
Large Open Pit with
Substantial Upside Potential
15Open Pit Optimization Plan
Optimization of Existing Plan
Untested Private Land Acquired by NCU from Federal
Internal studies indicate ability to significantly Extensions Gov’t (formerly BLM unpatented claims)
North Pit
improve project economics: Extensions
1. North Pit grade 40% higher than South Pit
2. Tighten pit wall angles
Continue to Convert
3. Revise plant layout and resize mine fleet waste/inferred to Ore Connector
Zone
4. Re-cost materials South Pit
Extensions
Staged Development Approach
Initial production scale to be staged: Boundary of patented
claims controlled by NCU
▪ Lower-cost, smaller initial mill start-up option
focused on high-grade North Pit
▪ Subsequent ability to expand production scale
incorporating South Pit reserves
Waste-to-Ore Conversion
High-value drill targets underway:
▪ Conversion of inferred and waste to resource,
reducing stripping costs and extending ore body
▪ In-pit infill drilling targeting grade improvement
▪ Additional geotechnical data
16Open Pit 2018 Drilling
17Open Pit – Northern Extension Zone
Northern Extension
NC18-01 NC18-02
Increased grade
140’ @ 2.05% demonstrated
via drilling
completed post
open pit FS
Not Tested in
view of Land
Transfer that
was pending South Metallurgical
Drilling Expand and
S-6 convert
Hole projected, resources into
not in section, S-4 connector zone
representative
Measured & Indicated
Grade Blocks
Greater than 0.15% Looking East
2014 pit shell
18Open Pit – Connector Zone
Northern Extension
Currently
Waste or
Inferred
Not Tested in
order not to
complicate
Land Transfer
19NORTH AMERICA’S NEXT LARGE-SCALE COPPER PRODUCER
Project Exploration &
Regional Potential
20Strong project growth and regional potential
Pumpkin Hollow property and Yerington district are underexplored
McArthur Bear District Cu
Inventory
> 33 Bn Lbs
Blue Hills
Ann Mason Yerington
Mason Area North
Mines Pumpkin E2
Nevada Copper Hollow
Quaterra
Mason Resources Corp.
(Formerly Entree Gold)
Mason Valley Properties 1 Mile
21NORTH AMERICA’S NEXT LARGE-SCALE COPPER PRODUCER
Financing Package in Place
with Flexible Balance Sheet
22Strong Balance Sheet to Support Project Development
Robust and flexible balance Construction financing package Balance Sheet upside
sheet ▪ US$70 million precious metals ▪ Pursing discussions with low-cost
▪ US$80 million project stream project lenders
financing facility in place: ▪ US$25 million mandate for ▪ Opportunity to reduce cost of debt
▪ Tranche 1: 9-year bullet working capital facility service and secure strong
financing partners for open pit
▪ Tranche 2: 7-year term, ▪ US$50 million equity back stop
two-year grace period ▪ Reduces potential future equity
requirements for open pit
▪ US$48 million cash position1
(1) At February 28, 2018
23Highly Levered to Rising Copper Prices
10% increase in Cu price = 60% increase in after-tax NPV(1)
Project NPV Sensitivity(1)
$4,000
$3,459
Net Present Value 5% (US$M)
$3,500
$3,000 $2,628
$2,500
$2,000 $1,781 $2,694
$1,500 $2,028
$882 $1,356
$1,000
$500 $631
$600 $765
$251 $425
$0
NPV NPV NPV NPV
$3.00 $3.50 $4.00 $4.50
Copper Price (US$/lb) Underground Only Open Pit Delta = Integrated
Corporate Valuation Sensitivity(2)
0.35x 0.32x
0.30x Further upside from reduced US
corporate tax, not reflected
Implied P/NAV (x)
0.25x
0.20x
0.16x
0.15x
0.11x
0.10x 0.08x
0.05x
0.00x
3
$3.00 $3.50 $4.00 $4.50
Copper Price (US$/lb) - Flat
(1) Derived from after-tax NPV for UG development (Case A) and integrated development (Case B) and related sensitivity analyses in 2017 Integrated Feasibility Study. After-tax NPV shown pre-stream.
(2) P/NAV calculated as ratio of market capitalization to after-tax NPV for integrated development (Case B) plus cash less debt-like items as at February 2018
24Defined Path to Production with Multiple Near-Term Catalysts
Strategy to drive near-term re-rate potential and unlock long-term value
Optimization
Release PFS on Complete Project Pit Drilling
Underground Financing
Announce Optimization
Builder’s Pit Conceptual Resource Optimization Execute on Regional
Team Study Update Pit PFS Growth Strategy Exploration
Pre- Begin Underground Develop Open Pit
Board Construction Construction on Mine Enters
Appoint Chief Additions Activities Underground Production
Operating Officer
25NORTH AMERICA’S NEXT LARGE-SCALE COPPER PRODUCER
Appendices
26Company Snapshot
1
Capitalization Items Share Price Performance 3
Symbol TSX: NCU
Share Price (July 13, 2018) US$ 0.45 1.00 Nevada Copper Share Price (C$) 4.00
0.90 Copper Spot Price (US$ / lb) 3.80
Market Capitalization US$M 287
Copper Spot Price (US$ / lb)
0.80 3.60
NCU Share Price (C$ / sh)
Senior Debt US$M 98
0.70 3.40
Cash & Equivalents2 US$M 108 0.60 3.20
Enterprise Value US$M 277 0.50 3.00
Shares Outstanding M 638 0.40 2.80
Options / Warrants M 27 0.30 2.60
0.20 2.40
Fully-Diluted Shares Outstanding M 665
0.10 2.20
- 2.00
Mar-17 Jun-17 Sep-17 Dec-17 Mar-18
Strong Insitutional Backing Asset Summary
Key Shareholders Include: Projects: Pumpkin Hollow Open Pit and Underground
Pala Investments Projects Location: Nevada, USA
Castlelake LLP Ownership: 100%
Triple Flag Mining Finance Permit Status: Fully Permitted
JP Morgan Financing Status: Fully Underwritten
Reserves: Copper 5bn lbs, Gold 0.76m oz, Silver 27.6m oz
(1) USD:CAD conversion of $1.31
(2) As at July 13, 2018
(3) Source: Bloomberg 27Significant Re-rating Potential Independent of Copper Prices
(1)
Peer Comparison
1.40x
1.20x
1.15x
1.00x
0.80x
0.75x
0.66x
P / NAV
0.57x
0.60x
0.46x
0.40x 0.34x 0.36x
0.24x(2) 0.26x
0.20x
0.00x
Panoro
Filo
Trilogy Metals
Nevada Copper
Western Copper
Northern Dynasty
Ivanhoe Mines
NGEx Resources
Polymet Mining
Geopolitical Low Low Low Medium High Low Medium Low Low
Risk(3)
Permitted? Yes No No No No No No No No
Stage of Construction PEA Updated PEA PEA PFS
Permitting Permitting Permitting
Development Ready Complete PEA Underway Complete Underway Underway
Initial Capital $182 $2,456 $4,700 $1,533 $480(4) $1,848(5) n/a n/a $380
(US$M)
Valuation implies significant discount to peers who are largely early stage, unpermitted and long-dated
Note: As at February 6, 2018
(1) Peer NAV based on Analyst consensus estimates
(2) NAV5% of US$1.144M based on consensus prices per the Nov. 2017 NI 43-101 Technical Report : US$2.62-$3.20/lb Cu, US$1,254-$1,325/oz Au, US$17.31-$20.01/oz Ag
(3) Based on country risk ratings for respective project(s), according to S&P Capital IQ Metals & Mining profiles for political, operational, security, and terrorism risk
28
(4) Represents Ivanhoe’s 39.6% interest
(5) Represents NGEx’s 60% interestOpen Pit - Potential 30,000 TPD Layout
29Pumpkin Hollow Mineral Underground Reserves (1)(2)
Nov 2017 NI43-101: Case A Underground Development
Mineral Reserves – Eastern Underground Deposits (East and E2) :
(Nov 2017 43-101 Technical Report: Case A)
Contained Contained Contained Copper
Ore Copper Gold Silver
Copper Gold Silver Equiv.
Classification 000's tons % Oz./ton Oz./ton 000s lbs. Ozs. Ozs. %
Proven 7,400 1.850 0.00695 0.144 273,800 51,430 1,063,602 2.01
Probable 16,500 1.470 0.00618 0.138 485,100 101,970 2,269,410 1.61
Total 23,900 1.59 0.00642 0.139 758,900 153,400 3,333,012 1.74
Note: Case A Underground and Case B Integrated Mineral Reserves are not additive
(1) Mineral Reserves November 2017 43-101 Technical Report, Case A Underground;
(2) Cu Equivalent based on metals prices of Cu $3.00/lb, Au $1,343/oz, Ag $19.86/oz and metallurgical recoveries of 92%, 78% and 70%, respectively
30Pumpkin Hollow Integrated Mineral Reserves (1)(2)
Nov 2017 NI43-101: Case B Integrated Development
Mineral Reserves North & South - Open Pit Deposits
Ore Copper Gold Silver Contained Contained Contained Copper
Copper Gold Silver Equiv.
Classification 000's tons % Oz./ton Oz./ton 000s lbs. Ozs. Ozs. %
North
Proven 122,403 0.479 0.001 0.056 1,173,000 175,000 6,862,000 0.513
Probable 178,241 0.422 0.001 0.051 1,505,000 178,000 9,097,000 0.448
Total 300,644 0.445 0.001 0.053 2,678,000 353,000 15,959,000 0.471
South
Proven 143,117 0.328 0.001 0.038 938,000 143,000 5,438,000 0.351
Probable 95,524 0.312 0.001 0.027 595,000 96,000 2,579,000 0.333
Total 238,641 0.321 0.001 0.033 1,533,000 239,000 8,017,000 0.343
Total North & South
Proven 265,520 0.40 0.001 0.046 2,111,000 318,000 12,300,000 0.425
Probable 273,765 0.38 0.001 0.043 2,100,000 274,000 11,676,000 0.408
Total 539,285 0.39 0.001 0.044 4,211,000 592,000 23,976,000 0.414
Mineral Reserves - Eastern Underground Deposits
Ore Copper Gold Silver Contained Contained Contained Copper
Copper Gold Silver Equiv.
Classification 000's tons % Oz./ton Oz./ton 000s lbs. Ozs. Ozs. %
Proven 8,923 1.59 0.006 0.124 283,000 54,000 1,106,000 1.71
Probable 23,680 1.17 0.005 0.109 556,000 116,000 2,581,000 1.28
Total 32,603 1.29 0.005 0.113 839,000 170,000 3,687,000 1.39
Mineral Reserves North & South - Open Pit & Eastern Underground Deposits
Ore Copper Gold Silver Contained Contained Contained Copper
Copper Gold Silver Equiv.
Classification 000's tons % Oz./ton Oz./ton 000s lbs. Ozs. Ozs. %
Proven 274,443 0.44 0.001 0.049 2,394,000 372,000 13,406,000 0.467
Probable 297,445 0.45 0.001 0.048 2,656,000 390,000 14,257,000 0.477
Total 571,888 0.44 0.001 0.048 5,050,000 762,000 27,663,000 0.472
Note: Case A Underground and Case B Integrated Mineral Reserves are not additive
(1) Nov. 2017 NI 43-101 Technical Report Preliminary Feasibility Study: Case B Integrated Development
(2) Cu Equivalent based on metals prices of Cu $3.00/lb, Au $1,300/oz, Ag $17.00/oz and metallurgical recoveries of 89.3%, 67.3% and 57.3%, respectively
31NORTH AMERICA’S NEXT
LARGE-SCALE
COPPER PRODUCER
Nevada Copper Corp.
Nevada Copper, Inc.
Suite 1238,
200 Granville Street
Vancouver, BC
Canada V6C 1S4
T: (604) 683-8992
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