Nevada Copper Announces AGM Results; Remains on Schedule to Enter Production Q4, 2019
VANCOUVER, British Columbia, June 17, 2019 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) ("Nevada Copper" or “Company”) is pleased to announce the results from its 2019 Annual General Meeting (the “Meeting”), held on Monday, June 17th in Toronto. Shareholders holding a total of 467,658,284 common shares of the Company attended the meeting in person or were represented by proxy, representing 70.65% of the total 661,933,584 common shares of the Company outstanding as of the record date. Shareholders voted in favour of all items of business before the Meeting. Additionally, the Company confirms that its Pumpkin Hollow underground copper project remains on target to commence production in Q4, 2019.
Construction Progress Update
Recent drone and time lapse footage of construction activity can be found in our latest video update.
The Company’s Underground Mine development is proceeding well with production expected to commence in Q4, 2019:
- Total Lateral development has now advanced 4,400 feet on both levels and has reached the bottom of the East North ventilation shaft
- Alimak infrastructure has been installed and the Alimak has advanced vertically 78 feet
- Three new mining fronts have commenced: central ramp system, upper coarse ore bin (COB) access and upper geotechnical test stope access
- From the 2770 level, the team is advancing the COB lower excavations and advancing the lower access toward the geotechnical test stope
East North ventilation shaft vertical development has advanced over 920 feet
Surface infrastructure and processing equipment are advancing to plan:
- Sag Mill is now being constructed with both shells and heads installed
- Ball Mill heads, shells and trunions are installed
- Vertical Mill is set on its foundation
- Fresh water tank is completed
- 120 kV substation is advanced well and conduit is being installed
- Structural steel has advanced four stories and elevated concrete floors are being installed
- Tailings filter press and air compressor foundations are complete
- Lining of the dry stack tailings cell one is complete
- Thickened tailings tank is nearly complete
Further construction update details, including recent photos, can be found on the Company’s blog.
AGM Voting Details
The following nine persons were elected as Directors of the Company until the next annual shareholder meeting of the Company, with the voting results shown below:
| Director | Votes For | % For | Votes Against | % Against |
| Tom Albanese | 458,865,246 | 99.98 | 86,532 | 0.02 |
| Michael Brown | 458,868,546 | 99.98 | 83,232 | 0.02 |
| Justin Cochrane | 458,894,246 | 99.99 | 57,532 | 0.01 |
| Phillip Day | 458,898,679 | 99.99 | 53,099 | 0.01 |
| Raffaele (Lucio) Genovese | 458,869,279 | 99.98 | 82,499 | 0.02 |
| Matthew Gili | 458,851,246 | 99.98 | 100,532 | 0.02 |
| Stephen Gill | 438,693,460 | 95.59 | 20,258,318 | 4.41 |
| Evgenij Iorich | 438,694,560 | 95.59 | 20,257,218 | 4.41 |
| G. Ernest (Ernie) Nutter | 458,858,546 | 99.98 | 93,232 | 0.02 |
At the AGM, shareholders also voted to appoint PricewaterhouseCoopers LLP as the Company's auditor.
NEVADA COPPER CORP.
Matthew Gili, President & CEO
We seek safe harbor.
For further information call:
Rich Matthews
VP, Marketing and Investor Relations
Phone: 604-683-8266
Email: rmatthews@nevadacopper.com
