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Nevada Copper Corp.: Nevada Copper-Drilling Expands the North Deposit With Significant Copper Intercepts

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 6, 2009) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper") recent drill results continue to confirm continuity and expand copper mineralization in the open pit North Deposit, at its 100% owned Pumpkin Hollow Copper Development Property located in Nevada.

Follow-up step-out drilling of previous drill hole NC08-20 (236 meters at 1.03% copper) has been extremely successful in extending mineralization along the southern boundary of the North Deposit. NC08-40 was drilled 60 meters to the south and intersected several large mineralized zones including: 68.3 meters (216.5 ft) averaging 0.63% copper and 82.9 meters (272.0 ft) averaging 0.58% copper. Additionally NC08-41 drilled 60 meters east of NC08-20 intersected 192 meters (629 ft) of mineralization greater than 0.3% copper including: 62.8 meters (206.0 ft) averaging 0.65% copper and 59.4 meters (195 ft) averaging 0.67% copper.

Mineralization also remains open on the eastern boundary of the North Deposit. Drill hole NC08-35, drilled as a step-out, intersected 50.8 meters (166.5 ft), averaging 0.45% copper. NC08-35 and previously drilled NC08-12 continue to show that the additional drilling to the East has been successful in expanding mineralization. Drill hole NC08-30 drilled as an infill hole, intersected 75.6 meters (248.0 ft), 43.3 meters true thickness, averaging 0.96% copper. The drill hole as expected confirmed the down-dip continuity of mineralization.

Gregory French, Nevada Copper's Project Manager commented, "The 2008 drilling program has been a huge success in both confirming continuity necessary for upgrading the mineral classifications and in expanding the North Deposit. Both the east extension and the robust mineralization discovered in drill hole NC08-20 remain open. Expanding mineralization in these areas will be one of the priorities going forward."

An updated resource estimate that incorporates over 26,600 meters (87,300 feet) of drilling and the historic core re-assaying of gold, silver and molybdenum is scheduled for completion in the first half of 2009.

Open pit resources on the property are included in both the North and South deposits. In November of 2007 the Company reported a combined NI 43-101 compliant copper resource estimate for both the North and South deposits, at a 0.2% cutoff of: Measured, 19.6 million at 0.645% copper; Indicated, 142.3 million at 0.51% copper; and Inferred, 233.8 million at 0.44% copper for a total of 3.7 billion pounds of contained copper.

A North deposit plan map and a cross section with hole NC08-40 is available at [ http://www.nevadacopper.com/s/PumpkinHollow.asp?ReportID=186142 ].

Drill results announced here represent true thicknesses.

NORTH DEPOSIT - Open Pit: Assays greater than 0.3% Cu
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 True
Drill From To Length Length Length Copper Gold Silver Mo
Hole # (m) (m) (m) (ft) (m) (%) (g/t) (g/t) (%)
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NC08-30 235.3 236.8 1.5 5 0.9 1.36 0.058 4.9 less
 than
 0.001
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 245.7 252.7 7.0 23.0 4.0 0.82 0.032 2.3 0.001
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 342.3 417.9 75.6 248.0 43.3 0.96 0.054 2.6 0.005
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 427.9 433.4 5.5 18.0 3.2 1.83 0.059 3.8 0.008
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 447.1 457.2 10.1 33.0 5.8 0.53 0.017 1.5 0.003
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NC08-35 234.8 285.6 50.8 166.5 50.8 0.45 0.054 1.4 0.002
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 309.4 313.3 3.9 13.0 13.0 0.35 0.005 0.5 less
 than
 0.001
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NC08-36 177.4 210.3 32.9 108 18.9 0.44 0.034 3.5 0.006
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 220.1 275.2 55.1 181.0 31.6 0.66 0.088 2.4 0.007
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 281.3 290.4 9.1 30.0 5.2 0.39 0.022 1.1 0.008
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 301.1 307.2 6.1 20.0 3.5 0.41 0.009 0.9 0.004
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NC08-38 178.3 199.6 21.3 70.0 17.4 0.35 0.063 1.6 0.002
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 272.8 281.9 9.1 30.0 8.2 0.34 0.065 1.0 0.004
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 293.2 371.9 78.7 258.0 70.8 0.67 0.080 1.8 0.002
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NC08-40 105.1 108.2 3.1 10.0 3.1 0.35 0.010 0.4 0.004
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 139.0 207.3 68.3 216.5 68.3 0.63 0.046 2.0 0.010
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 225.9 308.8 82.9 272.0 82.9 0.58 0.060 1.4 0.009
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 335.6 338.8 3.2 10.5 3.2 0.44 0.041 1.2 0.003
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 345.3 356.0 10.7 35.0 10.7 0.63 0.086 2.1 0.003
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 386.5 406.3 19.8 65.0 19.8 0.68 0.090 2.4 0.007
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NC08-41 83.8 96.0 12.2 40.0 12.2 0.74 0.011 1.2 0.005
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 134.1 143.2 9.1 30.0 9.1 0.31 0.016 0.8 0.003
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 164.6 167.6 3.0 10.0 3.0 0.60 0.035 1.6 0.004
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 189.0 199.6 10.6 35.0 10.6 1.33 0.230 4.2 0.004
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 245.4 250.9 5.5 18.0 5.5 0.33 0.011 0.9 0.001
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 265.5 328.3 62.8 206.0 62.8 0.65 0.073 3.0 0.008
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 338.9 354.2 15.2 50.0 15.2 0.63 0.086 2.3 0.004
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 360.3 363.3 3.0 10.0 3.0 0.36 0.038 1.2 0.008
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 387.7 398.4 10.7 35.0 10.7 0.38 0.088 1.4 0.001
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 413.6 473.0 59.4 195.0 59.4 0.67 0.092 2.5 0.002
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Drill holes NC08-36 and NC08-38 were drilled as infill holes in the eastern portion of the North Deposit and continue to confirm the continuity of the copper mineralization.

In 2008, 73 holes were drilled with assay results from 49 holes that have been reported. Additional drilling results will be released as they become available throughout the remainder of the first quarter of 2009.

The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, a Qualified Person as defined in Canadian National Instrument 43-101, who is responsible for the preparation of the technical information in this news release. All assaying and whole rock geochemistry is processed at the American Assay Laboratories (AAL) in Reno, Nevada. Samples are delivered from the project core logging facility to AAL by Nevada Copper or AAL personnel. A Quality Assurance and Quality Control Assay Protocol have been implemented whereby blanks and standards are inserted into the assay stream and check samples are sent to Chemex-Reno and Inspectorate-Reno laboratories.

About Nevada Copper

Nevada Copper has 40.6 million shares outstanding and is well financed with no debt.

Nevada Copper is an emerging copper company, responsibly developing its advanced stage Pumpkin Hollow copper-iron property into Nevada's next copper mine. Concurrent with the resource delineation drilling program, metallurgical, geotechnical, hydrological, condemnation data and environmental baseline data are being processed. The current program will support an updated resource estimate and Definitive Feasibility Study in that will commence in 2009.

In March, 2008 Nevada Copper announced initial economic results which were robust from an NI 43-101 compliant Preliminary Economic Assessment ("PEA") which was based on the resource estimated reported in November 2007. The PEA evaluates an integrated underground and open pit mining operation with a standard milling and floatation plant that will produce high-grade copper concentrates. Annual production will average 95,000 tons of copper per year over a mine life exceeding 20 years. Highlights from the PEA at copper prices from $1.75 to $3.00 per lb. copper are as follows:

- Net Present Value $784 Million to $1.9 Billion at an 8% discount
 rate;
- Internal Rate of Return 20.6% to 29.4%;
- Operating Cost $0.57/lb of copper, direct and $1.02/lb total,
 net of by-product credits;
- Capital Cost Estimate $665 Million before contingencies and working
 capital, $780 inclusive;
- Project payback from
 start of construction 3.1 to 4.8 years

The designed mining operation would have a 60,000 ton per day concentrator throughput. Metallurgical recoveries are estimated at 89% for copper, 70% for gold and 68% for silver. According to NI 43-101 guidelines, a PEA is considered preliminary in nature and includes the use of inferred mineral resources that are not mineral reserves and do not demonstrate economic viability.

In November 2007, Nevada Copper updated its National Instrument 43-101 compliant resource estimate. At a 0.2% copper cutoff grade, the measured and indicated copper resource is 3.96 billion pounds of copper, contained in 343 million tons grading 0.58% copper and 635 thousand ounces of gold and 26.6 million ounces of silver. An inferred copper resource of 3.91 billion pounds of copper is contained in 438 million tons grading 0.45% copper and 647 thousand ounces of gold and 30.1 million ounces of silver. Additionally, there is also an open-pit measured and indicated resource of 53.2 million tons of iron and inferred resource of 91.4 million tons of iron.

Within these large resources is a significant high grade copper resource in the East and E2 deposits. Using a 0.75% copper cutoff grade, the measured and indicated resources contain 1.2 billion pounds of copper in 41.6 million tons of material grading 1.46% copper and, in addition, the inferred resource contains 635 million pounds of copper within 25.3 million tons grading 1.25% copper.

For additional information about Nevada Copper please visit our website at [ www.nevadacopper.com ].

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at [ www.sedar.com ].