Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or "Company") is
pleased to announce the following update on the Congressional
legislation related to its 100% owned Pumpkin Hollow Property
located near Yerington, Nevada.
The Lyon County Economic Development and Conservation Act
("Bill") was introduced into the 113th Congress in 2013 in both the
U.S. Senate on January 28, 2013 and U.S. House of Representatives
on February 14, 2013. The Bill would convey, via a direct sale to
the City of Yerington ("City"), for fair market value, 10,400 acres
of BLM-administered federal lands to the City to facilitate Pumpkin
Hollow mine development, and other economic and recreational uses.
Nevada Copper has financed all of the work to evaluate and develop
this proposal and will finance 100% of the cost to acquire the
lands. In return, it will be able to use the land needed to develop
Pumpkin Hollow. As part of the mine capital costs, the Company
anticipates significant expenditures on water, sewer, road, and
power infrastructure required for mine services. These improvements
will also benefit any adjacent local development.
House of Representatives Subcommittee Hearing
The U.S. House of Representatives Subcommittee on Public Lands
and Environmental Regulation held a hearing on H.R. 696, on
Thursday, April 18, 2013. An archived video of the hearing is on
the House website:
http://resources.edgeboss.net/wmedia/resources/113/2013_04_18_pler.wvx
Congressmen Steven Horsford and Yerington Mayor George Dini
testified in favor of the Bill. Lyon County also submitted written
testimony strongly supporting the Bill. There was no testimony in
opposition to the Bill. Both the U.S. Forest Service and the Bureau
of Land Management testified on the Bill and supported it subject
to resolving several minor administrative technical issues.
Congressman Mark Amodei, a co-sponsor of the Bill, questioned the
two agencies on the Bill, encouraging them to address the technical
issues and process the land conveyance expeditiously once passed
into law. The Bill will now be sent to the full House Natural
Resources Committee for a vote. Once reported out of committee it
can be sent to the floor of the House for a vote. Nevada Copper
expects that this Bill will pass in the House.
Yerington Mayor George Dini, Lyon County Manager Jeff Page and
Timothy M. Dyhr, Vice President Environment and External Relations
attended the House hearing and met with members of the Nevada
Congressional Delegation and respective Committee representatives
to urge timely passage of the Lyon County Bill in order to expedite
the Pumpkin Hollow Project.
Mayor Dini stated in his testimony: "The timely passage of this
legislation cannot be overstated. We are operating on a tight
timeline. With the financing they have received, Nevada Copper is
initiating detailed siting, engineering and design of project
infrastructure. This legislation will allow Yerington to work with
the Nevada Copper to locate infrastructure for water, sewer, and
power for both mine development and the other uses contemplated by
the City. Both the City and Lyon County will be able to share in
property, sales, utility and net proceeds of mines taxes from the
operations."
Senate Subcommittee Hearing
In the Senate, the companion Bill, S. 159, was heard in the
Public Lands Subcommittee on April 25, 2013. There was no testimony
in opposition to the Bill.
An archive of the hearing can be viewed at:
http://www.energy.senate.gov/public/index.cfm/hearings-and-business-meetings?ID=5832cf6a-fd18-4046-bb7c-5c4ba9ae7853
Nevada Senators Harry Reid and Dean Heller personally testified
in the Senate Subcommittee with very strong support for the Bill.
Senator Reid's and Heller's testimony can be viewed here:
http://www.energy.senate.gov/public/index.cfm/hearings-and-business-meetings?ID=5832cf6a-fd18-4046-bb7c-5c4ba9ae7853
Senator Reid stated in his testimony: "This bill will provide a
huge positive economic impact to Lyon County. Nevada has been hit
hard by the economic downturn. No state in the union has come close
to the economic problems we've had in Nevada. For 20 years, we led
the nation in economic vitality. For the last 4-5 years, we've been
on the other end of the spectrum."
Senator Heller commented: "There is no more urgent legislation
for Nevada than the Lyon County Economic Development and
Conservation Act. I authored this legislation initially to answer
the desperate needs in Lyon County for economic development and
activity. This bill is an excellent example of the balance between
conservation and development."
The Bill has now been referred to the Senate Natural Resources
Committee for a vote, where both the Chairman, Senator Ron Wyden
and Ranking Member, Senator Lisa Murkowski have made a commitment
to pass high priority bills like the Lyon County Bill quickly.
Nevada State Support
Nevada Governor Brian Sandoval submitted written testimony for
the hearing record noting that: "We in Nevada believe that this is
an incredible opportunity to not only benefit in the near term from
mine development and operation, but to use that investment to
support other economic development that will survive long after
mining is complete."
Also at the Nevada State level, the Nevada State Senate
unanimously passed Senate Joint Resolution 14 (SJR 14) on April 15,
2013, that urges Congress to pass the Lyon County Bill:
https://nelis.leg.state.nv.us/77th2013/App#/77th2013/Bill/Overview/SJR14.
That resolution will now be heard in the Nevada State Assembly
and is expected to receive overwhelming support there.
Now that the Bill has been heard in the House and Senate, the
City of Yerington, Lyon County and Nevada Copper believe, and with
overwhelming support from the local community, the Nevada
Delegation, the Nevada Legislature, and many other members in
Congress, this Bill can be moved to passage in Congress
expeditiously.
Full coverage of the hearings, testimony, support and press can
be found at:
http://www.pumpkinhollowcopper.com/mine-community/category/yerington-economic-bill-in-congress/
Status of State Permits
State permitting of the Stage 1 underground project is advancing
on schedule. The draft Reclamation Permit was published on May 1,
2013. The draft Water Pollution Control Permit is expected to be
made public next week. The third major permit, the Air Quality
Permit, is well-advanced. At the county level, the Special Use
Permit ("SUP") is advancing on schedule. A meeting with Lyon County
officials was held on May 1, 2013 to review the SUP application was
very productive and indicated there were no significant issues that
would delay receiving this permit from Lyon County.
For additional information about Nevada Copper please visit our
website at www.nevadacopper.com.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
Cautionary Language: We seek safe harbour.
Contacts: Nevada Copper Corp. Eugene Toffolo VP, Investor
Relations & Communications 604-683-8266 or Toll free:
1-877-648-8266etoffolo@nevadacopper.com Nevada Copper Corp. Robert
McKnight, P.Eng., MBA Executive Vice President & CFO
604-683-1309bmcknight@nevadacopper.com www.nevadacopper.com
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