Pala invests in Nevada Copper Corp.

TORONTO, July 4, 2012 /CNW/ - Pala Investments Holdings Limited ("PIHL") announced today that it has agreed to acquire a total of 2,500,000 common shares of Nevada Copper Corp. ("NCU"), representing approximately 3.43% of the 72,861,458 issued and outstanding common shares of NCU, as known by PIHL. The common shares are to be acquired by way of private transaction pursuant to a share purchase agreement dated July 3, 2012.

Assuming the closing of the acquisition referred to above, PIHL will own and control, directly and indirectly, a total of 27,381,981 common shares representing approximately 37.58% of the issued and outstanding shares of NCU, as known by PIHL.

The consideration payable for each common share that PIHL has agreed to purchase is CDN$1.90 per common share. It is a condition to the Share Purchase Agreement that the acquisition of common shares close by July 10, 2012. PIHL intends to acquire the common shares for investment purposes and may increase or decrease the investment in the common shares depending upon future market conditions.

The common shares of NCU are being acquired pursuant to an exemption from securities legislation provided by Section 100.1 of the Securities Act (Ontario) and section 4.2 of Multilateral Instrument 62-104 of the Canadian Securities Administrators. Such exemptions are available on the basis that the common shares were purchased from less than five vendors and the price per common share was less than 115% of the market price of NCU's common shares on the date of the share purchase agreement.

PIHL's address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For further information please refer to the Early Warning Report posted on SEDAR or contact Colin Murray at 011 41 41 560 9070.

About Pala

Pala Investments Holdings Limited is a multi-strategy investment company dedicated to investing in, and creating value across, the mining sector in both developed and emerging markets. Pala Investments seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative financing solutions. For more information, visit www.pala.com.

Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to PIHL's future intentions regarding the securities of NCU that it owns and statements relating to the closing of the above transactions. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and PIHL is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

please refer to the Early Warning Report posted on SEDAR or contact Colin Murray at 011 41 41 560 9070.