Mr. Giulio Bonifacio reports

NEVADA COPPER ANNOUNCES FINANCING

Nevada Copper Corp. has filed a preliminary short-form prospectus with the securities regulatory authorities in each of the provinces of Canada, except Quebec, in connection with a fully marketed public offering of common shares of the company for minimum net proceeds of $15-million (U.S.) (approximately $22.7-million of gross proceeds). The offering will be conducted on a best-efforts basis pursuant to an agency agreement to be entered into between the company and a syndicate of agents co-led by GMP Securities LP and Dundee Securities Ltd. and including Haywood Securities Inc. The issue price of the initial securities shall be determined in the context of the market.

The company will grant the agents an option to sell up to such number of additional common shares of the company as is equal to 15 per cent of the number of initial securities sold under the offering. The overallotment option shall be exercisable, in whole or in part, on or after the closing date, and for a period of 30 days thereafter, at the issue price per additional security.

Red Kite Mine Finance, senior secured lender to the company, has advised that, subject to certain conditions, it will subscribe for up to $2-million (U.S.) of the offering.

The proceeds from the offering are expected to be used by the company at its fully permitted Pumpkin Hollow copper project in Nevada for engineering, continuing property maintenance, and for working capital and general corporate purposes.

The offered securities will be offered by way of a short-form prospectus which has been filed in all of the provinces of Canada (other than Quebec) pursuant to National Instrument 44-101 short-form prospectus distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Closing of the offering is anticipated to occur on or before March 10, 2016, and is subject to, among other things, certain conditions including the completion of satisfactory due diligence by the agents and the receipt of all necessary regulatory approvals relating to the offering as are appropriate in the circumstances, including approval of the Toronto Stock Exchange.