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Nevada Copper Corp. (TSX: NCU) ( Nevada Copper or the Company ) provides a corporate and operations update for the underground mine at its Pumpkin Hollow project (the Underground Project ). Shaft Commissioning and Hoisting Following completion of the main shaft material handling system, the Company achieved a peak daily hoisting rate of over 3,000 tons in February, and has achieved a hoisting rate equivalent to 5,000 tons per day on a shift basis. Despite the improving hoisting rates, the cumulative impact of a series of unplanned stoppages due to mechanical issues and other incidents in the main shaft has led to lower than expected ore production to date in 2021. Average hoisting rates for February to date were approximately 1,600 tons per day, compared to plan of approximately 3,000 tons per day. Retrofitting work to resolve these issues is expected to be completed in the coming weeks.

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