Ms. Tracey Thom reports

NEVADA COPPER PROVIDES UPDATE ON FINANCING EFFORTS AND LIQUIDITY

Nevada Copper Corp. has provided an update to its previously disclosed financing efforts. As discussed in recent press releases and securities filings, the company continues to require further financing to maintain operations and complete the commissioning and ramp-up of its Pumpkin Hollow underground mine located in Yerington, Nev.

The company has engaged in discussions with its key stakeholders and other parties to obtain financing and/or enter into a change-of-control transaction. However, at this time the company has neither a binding offer for a transaction of this kind nor any offer of adequate and sufficient ordinary course financing to continue operations. Pala Investments Ltd. and other existing stakeholders of the company have been providing limited interim financing to the company but are under no obligation to provide additional financing. These stakeholders have indicated that they may not be prepared to provide further financing. As a result, the company's cash position has become substantially depleted and the company has begun to significantly scale down operations at the underground mine. The company has also received notices of resignation, effective June 5, 2024, from directors Evgenij Iorich and Stephen Gill, who were both nominees of Pala.

In the absence of securing sufficient financing on an urgent basis, the company will not be able to continue carrying on business and may have no alternative but to seek creditor protection.

About Nevada Copper Corp.

Nevada Copper is the owner of the Pumpkin Hollow copper project located in Nevada, United States, with substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine, which was recently restarted and is undergoing a ramp-up of operations to nameplate capacity, and a large-scale open-pit PFS-stage (preliminary feasibility study) project.

We seek Safe Harbor.