Mr. Mike Ciricillo reports

NEVADA COPPER PROVIDES OPERATIONS UPDATE

Nevada Copper Corp. has provided a project update for the underground mine at its Pumpkin Hollow project.

Performance highlights:

• First stopes to be mined:
  • The first stope will be mined in the East South Alphabets zone this week. The Alphabets zone is expected to carry copper equivalent grade of approximately 2.5 per cent.
• Ventilation expansion:
  • The electrical upgrades have been completed, and the fan bulkhead is in the final stages of construction for installation of the remaining underground ventilation fans.
  • Two additional underground ventilation fans, as previously announced, are on schedule for installation in May, which should enable further increases in underground development rates.
  • The surface ventilation fans remain on schedule for installation in the third quarter of 2021.
• Lateral development:
  • Lateral development in March increased 69 per cent from February after the previously announced electrical upgrades were completed.
  • Lateral development early in the first quarter 2021 was slower than anticipated due to cautious progress through a water-bearing dike. Progress continues with penetration through the dike.
• Continuing to increase mill throughput rates:
  • While the company is still batch processing ore through the mill, it achieved a weekly average of 4,700 tons per day (tpd) and maximum daily milling throughput of 5,000 tpd during March.
  • Concentrate grade continues to be achieved that complies with offtake specifications.
  • Concentrate grade has continued to rise, with an average grade of 26 per cent achieved in March compared with 24 per cent during January and February.
  • The company is on schedule to reach steady-state production of approximately 5,000 tpd in the third quarter of 2021.

"We are pleased with the progress achieved in Q1 despite the challenges with lateral development, and we look forward to the imminent blasting of our first high-grade stopes," stated Mike Ciricillo, chief executive officer of Nevada Copper. "As well as advancing our stope development, we look forward to further increases in underground development rates as we move closer to steady-state production in Q3 this year."

Qualified persons

The information and data in this news release were reviewed by Greg French, CPG, and Norm Bisson, PEng, for Nevada Copper, who are non-independent qualified persons within the meaning of National Instrument 43-101.

About Nevada Copper Corp.

Nevada Copper is a copper producer and owner of the Pumpkin Hollow copper project.

Located in Nevada, United States, Pumpkin Hollow has substantial reserves and resources, including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which are now in the production stage, and a large-scale open-pit project, which is advancing toward feasibility status.

We seek Safe Harbor.