Nevada Copper Corp. provided updates on recent operational developments at its Pumpkin Hollow underground mine, including the first deliveries of concentrate in October 2023. Underground development - During Third Quarter 2023, Small Mining Development continued to ramp-up lateral development, completing 3,366 feet, a 76% increase from the second quarter of 2023.

With the assistance of development contractors, twelve ore stopes were fully developed with top and bottom lateral development completed and are now available for extraction once stope mining continues in the fourth quarter of 2023. Total available ore, including developed stopes, development tons, blasted inventory and surface stockpile is 442,089 tons. Ore stockpiled on surface at the end of Third Quarter 2023 was estimated to be approximately 129,500 tons.

Exploration: As previously announced, the Company completed 2023 drill program with a total of 11 holes (3,305 feet) drilled on the Copper Ridge target and 9 holes (1,653 feet) on the Dimples target. Preliminary assays from the first two holes from the program have indicated that mineralization and alteration found at surface has been intersected in the drill holes. As a result, cleaning the mine of ore and waste that was mined and stockpiled underground has been a priority.

Twelve ore stopes are fully develop with top and bottom lateral development complete and available for extraction once stope Mining continues. There can be no assurance that the ramp-up of the Underground Mine will be completed or will not cost more than expected. Such risks and uncertainties include, without limitation, those relating to: the need for additional capital and no assurance can be given regarding the availability thereof; the ability of the Company to complete the restart and ramp-up of the Underground mine within the expected cost estimates and timeframe; results of exploration programs; the impact of the effects of COVID-19 on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and restart and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and restart and restart-up of the Underground Mine; loss of material properties; interest rate increases; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial incidents; failure of processing and mining equipment to perform as expected; labour disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management's expectations and the difference may be material; legal and regulatory proceedings and community actions; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change, including Extreme weather events, and new or revise regulations relating to climate change; permitting and licensing; dependence on management information systems and cyber security risks; volatility of the market price of the Company's securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company's Management's Discussion and Analysis in respect of the year ended December 31, 2022 and in the section entitled "Risk Factors" in the Company's Annual Information Form dated March 20, 2023.

The forward-looking statements and information contained in this news release are based upon assumptions management believes to be reasonable, including, without limitation: no adverse developments in respect of the property or operations at the project; no material changes to applicable laws; the restart and ramp- up of operations at the Underground Mine in accordance with management's plans and expectations; the restart and ramp-up the effects of COVID--19.