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NovaCopper Reports Significantly Increased Resources at Bornite Deposit: 5.7 Billion Pounds of Copper Inferred and 334 Million Pounds of Copper Indicated

March 18, 2014
        --  In-Pit Indicated Resources of 14.1 million tonnes at an average
            grade of 1.08% copper containing 334 million pounds of copper
            at a 0.5% copper cutoff
        --  In-Pit Inferred Resources of 109.6 million tonnes at an average
            grade of 0.94% copper containing 2.3 billion pounds of copper
            at a 0.5% copper cutoff
        --  Below-Pit Inferred Resources of 55.6 million tonnes at an
            average grade of 2.81% copper containing 3.4 billion pounds of
            copper at a 1.5% copper cutoff
        --  The latest resource estimate represents an 87% increase in
            contained copper in Indicated Resources and a 73% increase in
            contained copper in Inferred Resources at the Bornite Project
        --  Mineralization remains wide open in multiple directions

TSX, NYSE-MKT

Symbol: NCQ

VANCOUVER, March 18, 2014 /PRNewswire/ – NovaCopper Inc. (TSX, NYSE-MKT: NCQ) (“NovaCopper” or “the Company”) is pleased to
announce the release of an updated National Instrument 43-101 (“NI
43-101″) compliant resource estimate for the Bornite deposit for its
Upper Kobuk Mineral Projects (“UKMP”) located in the highly prospective
Ambler mining district of northwest Alaska. This release incorporates
the results of the 2013 core drilling and assaying of previously
un-sampled or partially sampled historical Kennecott drill core. The
previous mineral resource estimate was described in the previous
Technical Report for the Bornite Deposit, South Reef and Ruby Creek
Zones, prepared for NovaCopper by BD Resource Consulting Inc. (“BDRC”)
and Sim Geological Inc. (“SGI”) which was made public on February 8,
2013 and has an effective date of January 31, 2013.

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Highlights

        --  At a base case 0.50% copper cutoff grade, the Bornite Project
            is estimated to contain in-pit Indicated Resources of 14.1
            million tonnes at 1.08% copper or 334 million lbs of contained
            copper (see Table 1 for details).
        --  At a base case 0.50% copper cutoff grade, the Bornite Project
            is estimated to contain in-pit Inferred Resources of 109.6
            million tonnes at 0.94% copper or 2.3 billion lbs of contained
            copper (see Table 1 for details).
        --  At a base case 1.50% copper cutoff grade, the Bornite Project
            contains below-pit Inferred Resources of 55.6 million tonnes at
            2.81% copper or 3.4 billion lbs of contained copper (see Table
            2 for details).
        --  Contained copper in Indicated resources have increased from 179
            to 334 million pounds which constitutes an 87% increase in
            contained metal (see Figure 1 for details).
        --  Contained copper in Inferred resources have risen from 3,292 to
            5,696 million pounds which constitutes a 73% increase in
            contained metal (see Figure 1 for details).

“We are extremely pleased with the Bornite resource expansion. We have
added more high quality copper resources, at a grade of approximately
1% copper, for a potential open-pit mine scenario. Also, at a grade of
approximately 2.8% copper, we have the potential for an underground
mine scenario. Importantly, given that the amount of contained metal in
the in-pit resource is insensitive to changes in the copper cutoff
grade, the project could have great flexibility in mining selectivity
during future mine planning,” said Mr. Rick Van Nieuwenhuyse,
NovaCopper’s President and Chief Executive Officer.

Mr. Van Nieuwenhuyse continued, “In less than three years, our
exploration team has increased six fold the scale of the Bornite
deposit. When combined with our high-grade (5.9% copper equivalent(1)) potentially open-pit resource at Arctic, we have nearly achieved our
initial objective of defining approximately 10 billion pounds of copper
equivalent resources in the district. This robust new Bornite resource
remains open along the one-kilometer-wide northern margin of the
deposit as well as the up-dip projection of the South Reef zone. Given
the scale of the mineralization, which now measures 1.5 kilometers
along strike and 2 kilometers down dip, we expect that further
exploration could potentially make the Bornite deposit of similar size
and grade to the geologically comparable Mount Isa deposit of
Queensland Australia – which ultimately extracted 405 million tonnes
grading 2.12% copper(2).”

The new resource estimate incorporates results from 216 diamond drill
holes including 17 holes totaling 8,142 meters drilled by the Company
during the 2013 drilling campaign, as well new assays from 42
historical Kennecott drill holes comprising 14,457 meters with partial
or no assays. The deposit remains open to expansion to the north: the
Lower Reef mineralization is open over a 1 km wide front along the
north end of the deposit. The company plans to resume drilling during
the second or third quarter of 2013 with the goal of expanding the
resource to the north and northeast. Additional re-assaying of
partially sampled Kennecott era drilling is also anticipated.

(_____________________________ )


    1 The Arctic copper-equivalent resource is calculated using the
    following metals price assumptions: (in USD) $2.90/lb Cu, $1,300/oz Au,
    $22.70/oz Ag, $0.85/lb Zn, and $0.90/lb Pb. containing 23.8 million
    tonnes (Mt) of Indicated Resource grading approximately 3.26% copper,
    4.45% zinc, 0.76% lead, 40.8 g/t silver and 0.55 g/t gold.

    2 USGS Open File Report 2009-1252

Table 1 shows the sensitivity of the in-pit resource at a series of
copper cutoff thresholds; the base case cutoff of 0.50% copper cutoff
is highlighted. This shallow mineralization is located in the Ruby
Creek Zones in the Upper and Lower Reefs. The key assumptions and
methods used to estimate the mineral resources and determine reasonable
prospects for extraction of the mineral resources included generating a
resource limiting pit shell using a projected metal price of US$3.00
per lb Cu, open pit mining costs of US$2.00 per tonne, milling costs of
US$11.00 per tonne, G&A of US$5.00 per tonne, metallurgical recovery of
87%, and an average pit slope of 43 degrees. Indicated in-pit
resources at the Bornite deposit at a 0.50% Cu cutoff are 14.1 million
tonnes at 1.08% Cu. Inferred in-pit resources at the Bornite deposit at
a 0.50% Cu cutoff are 109.6 million tonnes at 0.94% Cu. Previous
in-pit resources were reported at a 0.5% copper cutoff.

Table 1. Bornite Deposit – In-Pit Mineral Resource Estimate

     _____________________________________________________________________
    |                    Indicated       |                  Inferred      |
    |____________________________________|________________________________|
    |      |          |     |Contained Cu|          |     |               |
    |Cutoff|  Tonnes  |Grade|   (lbs,    |  Tonnes  |Grade| Contained Cu  |
    | % Cu |(millions)|% Cu | millions)  |(millions)|% Cu |(lbs, millions)|
    |______|__________|_____|____________|__________|_____|_______________|
    | 0.35 |    16.8  |0.97 |      360   |   123.4  |0.88 |       2,389   |
    | 0.40 |    16.1  |1.00 |      354   |   119.8  |0.89 |       2,359   |
    | 0.45 |    15.1  |1.04 |      345   |   115.4  |0.91 |       2,319   |
    | 0.50 |    14.1  |1.08 |      334   |   109.6  |0.94 |       2,259   |
    | 0.55 |    12.9  |1.13 |      321   |   102.8  |0.96 |       2,180   |
    | 0.60 |    11.8  |1.18 |      307   |    95.2  |0.99 |       2,086   |
    |______|__________|_____|____________|__________|_____|_______________|
        --  Base Case cutoff grade of 0.50% Cu is highlighted in table.
        --  Mineral Resources are not Mineral Reserves and do not have
            demonstrated economic viability.  There is no certainty that
            all or any part of the Mineral Resources will be converted into
            Mineral Reserves. See "Cautionary Note to United States
            Investors."
        --  Resources stated as contained within a pit shell developed
            using a metal price of US$3.00/lb Cu, mining costs of
            US$2.00/tonne, milling costs of US$11/tonne, G&A cost of
            US$5.00/tonne, 87% metallurgical recoveries and an average pit
            slope of 43 degrees.
        --  Inferred resources have a great amount of uncertainty as to
            their existence and whether they can be mined legally or
            economically. It cannot be assumed that all or any part of the
            Inferred resources will ever be upgraded to a higher category.

In addition to the in-pit resources, Table 2 shows the sensitivity of
mineral resource that may be amenable to underground extraction
methods. The base case cutoff grade for resources below the pit shell
is 1.50% copper. The key assumptions used to estimate the mineral
resources and to determine reasonable prospects for economic extraction
of the mineral resources are a projected metal price of US$3.00 per
pound of copper, underground mining costs of US$50.00 per tonne,
milling costs of US$11.00 per tonne, G&A of US$5.00 per tonne, and an
average metallurgical recovery of 87%. This mineralization is located
in the South Reef Zone and the Ruby Creek Zone in the Lower Reef.
Inferred below pit resources at the Bornite deposit are reported (at an
elevated 1.5% Cu cutoff) as 55.6 million tonnes at 2.81% Cu. Previous
below pit resources at the South reef were reported at a 1% Cu cutoff.

Table 2. Bornite Deposit – Below Pit Resources

     _______________________________________
    |                       Inferred        |
    |_______________________________________|
    |Cutoff|  Tonnes  |Grade| Contained Cu  |
    | % Cu |(millions)|% Cu |(lbs, millions)|
    |______|__________|_____|_______________|
    |  0.5 |   264.5  |1.27 |       7,418   |
    |  1.0 |   113.6  |1.99 |       4,972   |
    |  1.5 |    55.6  |2.81 |       3,437   |
    |  2.0 |    40.9  |3.21 |       2,887   |
    |  2.5 |    32.0  |3.48 |       2,448   |
    |  3.0 |    22.3  |3.79 |       1,859   |
    |______|__________|_____|_______________|
        --  Base Case cutoff grade of 1.5% Cu is highlighted in table.
        --  Mineral Resources are not Mineral Reserves and do not have
            demonstrated economic viability.  There is no certainty that
            all or any part of the Mineral Resources will be converted into
            Mineral Reserves. See "Cautionary Note to United States
            Investors."
        --  Inferred resources have a great amount of uncertainty as to
            their existence and whether they can be mined legally or
            economically. It cannot be assumed that all or any part of the
            Inferred resources will ever be upgraded to a higher category.

Several factors account for the increase in reported resources at
Bornite:

        --  The previous Ruby Creek resource was limited within a manually
            generated pit shell that was restricted to near-surface
            mineralization. This previously resulted in a much smaller pit
            shell than that generated by the Lerchs Grossman algorithm
            which generated a much larger pit resulting in the increase in
            the in-pit resources.

        --  The previous resource at South Reef utilized a probability
            shell based on a 2% copper threshold to define two estimation
            domains within the Carbonate stratigraphy: inside the 2% Cu
            probability shell and outside the shell. The current model
            utilizes an additional probability shell based on a 0.2% Cu
            threshold to target moderate-grade resources.

        --  Additional drilling has added significant resources down-dip in
            both the Ruby Creek and South Reef Zones.

        --  Additional sampling of previously un-sampled core in
            Kennecott-era drill holes has added near-surface resources and
            improved resource continuity in the Ruby Creek area.

        --  The change in the base case cutoff threshold for below pit
            resources from 1.0 to 1.5% copper has resulted in a decrease in
            the amount of resources amenable to underground extraction.

Mineralization at the Ruby Creek zone occurs as two discrete strata
bound lenses: a Lower Reef which outcrops and dips approximately 10-15
degrees to the northeast; and an Upper Reef lying roughly 150+ meters
above the Lower Reef stratigraphy and which includes a small high-grade
zone historically referred to as the “No.1 Orebody” by Kennecott.
Mineralization is hosted by a Devonian age carbonate sequence
containing broad zones of dolomite alteration and associated sulfide
mineralization including bornite, chalcopyrite, and chalcocite
occurring as disseminations and vein stockworks as well as crackle and
mosaic breccia fillings and locally massive to semi-massive replacement
bodies.

The 2013 drilling campaign focused on: 1) expanding shallow potentially
open-pit exploitable resources in the Lower Reef area in the Ruby Creek
Zone; and 2) extending deeper potentially underground exploitable
resource to the north, which was extended in the most recent drilling
campaign, in the Lower Reef in both the Ruby Creek and South Reef
Zones. Drilling targeting shallow mineralization totaled 4,684 meters
in 12 drill holes and deeper drilling targeting underground
mineralization totaled 3,458 meters in five drill holes.

In addition to the 2013 drilling, NovaCopper conducted an extensive
re-sampling and assay program of 33 historical drill holes totaling
11,067 meters at the Bornite Project. These holes were previously
drilled and only selectively sampled by Kennecott within the Ruby Creek
Zone of the Bornite deposit. Of the 33 historic drill holes sampled, 26
holes had intervals of copper greater than 0.5% copper, and 29 holes
contained mineralization greater than 0.2% copper. The objectives of
the re-assay program were twofold: 1) to confirm and conduct a Quality
Assurance/Quality Control (“QA/QC”) program on the historical sample
results; and 2) to identify additional lower-grade (0.2-0.5% copper)
shallow material, which was not previously sampled.

In late 2013, NovaCopper contracted BDRC and SGI to update the resource
estimates for the Bornite deposit. The geological and assay database
have been reviewed and audited by BDRC and SGI. It is of the opinion of
BDRC and SGI that the current drilling information is sufficiently
reliable to interpret with confidence the boundaries for copper
mineralization and that the assay data are sufficiently reliable to
support mineral resource estimation. That estimation utilizes two-meter
compositing of assays from 216 drill holes completed between 1961 and
2013. Estimated blocks were 5 x 5 x 5 meters on a side.

Seven domains were established for the estimation, all of which were
treated as hard boundaries with no mixing of data between the domains.
The domains include two high-grade carbonate domains inside a 2% copper
probability shell, three moderate-grade carbonate domains inside a 0.2%
copper probability shell, one weakly-mineralized carbonate domain
outside the 0.2% copper probability shell, and one weak-unmineralized
phyllite domain. Visual inspections of the probability shells show that
they fit well with observed levels of bornite, chalcocite and
chalcopyrite mineralization.

Based on the interpreted local high-grade nature of the mineralization,
both capping and outlier restriction strategies were implemented to
control the influence of high-grade mineralization in the resource
model. This methodology removed approximately 5% of the contained
copper in the Ruby Creek Zone and 8% of the contained copper in the
South Reef Zone.

Copper grades are interpolated in model blocks using ordinary kriging
with a minimum of one and a maximum of twenty composited samples and a
maximum of five samples from a single drill hole.

A total of 4,472 specific gravity measurements, of which 40% are within
the mineralized shells, were utilized to estimate densities in the
block model. Specific gravity values were estimated into model blocks
using inverse distance squared moving averages using the domains
described previously.

Resources included in the Indicated category includes blocks in the
model that are within a maximum average distance of 35 meters from
three or more drill holes and exhibit a relatively high degree of
confidence in the grade and continuity of mineralization. Resources in
the Inferred category require a minimum of one drill hole within a
maximum distance of 100 meters and exhibit reasonable confidence in the
grade and continuity of mineralization.

Figure 2 shows a NE-SW cross-section through the block model showing
estimated copper grades in the Ruby Creek area. The extent of the
resource limiting pit shells is represented by the black line. Figure 3
shows an NE-SW cross-section through the block model showing
higher-grade, below pit, resources in the South Reef area.

Arctic Project

On September 12, 2013 the Company filed, on SEDAR and EDGAR, a National
Instrument 43-101 Preliminary Economic Assessment (“PEA”) on the Arctic
Project, which is located approximately 27 kilometers to the northeast
of the Bornite Project. The Arctic deposit has a post-tax net present
value of approximately $537.2 million. Table 3 reports mineral resources for the Arctic Project. The PEA is
preliminary in nature and includes Inferred mineral resources that are
considered too speculative geologically to have the economic
characteristics applied to them that would enable them to be
categorized as mineral reserves. There is no certainty that the PEA
will be realized. Please visit the Company’s website at www.novacopper.com for a copy of the PEA.

Table 3 – Resource estimate for the Arctic Project (NSR cut off of $35/tonne)

     _______________________________________________________________________
    |Category | Mt | Cu | Zn | Pb | Au  | Ag  | Cu  | Zn  | Pb  | Au  | Ag  |
    |         |    |(%) |(%) |(%) |(g/t)|(g/t)|(Mlb)|(Mlb)|(Mlb)|(Moz)|(Moz)|
    |_________|____|____|____|____|_____|_____|_____|_____|_____|_____|_____|
    |Indicated|23.8|3.26|4.45|0.76|0.71 |53.2 |1,713|2,338|400.9|0.55 |40.8 |
    |_________|____|____|____|____|_____|_____|_____|_____|_____|_____|_____|
    |Inferred |3.4 |3.22|3.84|0.58|0.59 |41.5 | 239 | 285 |43.2 |0.06 | 4.5 |
    |_________|____|____|____|____|_____|_____|_____|_____|_____|_____|_____|
        --  These resource estimates have been prepared in accordance with
            NI 43-101 and the CIM Definition Standards. Mineral resources
            that are not mineral reserves do not have demonstrated economic
            viability. Inferred resources have a great amount of
            uncertainty as to their existence and whether they can be mined
            legally or economically. It cannot be assumed that all or any
            part of the Inferred resources will ever be upgraded to a
            higher category. See "Cautionary Note to United States
            Investors."
        --  Mineral Resources are contained within an Indicated and
            Inferred pit design using an assumed copper price of $2.90/lb,
            zinc price of $0.85/lb, lead price of $0.90/lb, silver price of
            $22.70/oz, and gold price of $1,300/oz.
        --  Appropriate mining costs, processing costs, metal recoveries
            and inter ramp pit slope angles were used to generate the pit
            design.
        --  Mineral Resources have been estimated using a constant NSR
            cutoff of $35.01/tonne milled. The $35.01/tonne milled cutoff
            is calculated based on a process operating cost of $19.03/t,
            G&A of $7.22/t and Site Services of $8.76/t. NSR equals payable
            metal values, based on the metal prices outlined in Note 2
            above, less applicable treatment, smelting, refining costs,
            penalties, concentrate transportation costs, insurance and
            losses and royalties.
        --  The estimated life of mine strip ratio is 8.39:1.
        --  Rounding as required by reporting guidelines may result in
            apparent summation differences between tonnes, grade and
            contained metal content.
        --  Tonnage and grade measurements are in metric units. Contained
            copper, zinc and lead pounds are reported as imperial pounds,
            contained silver and gold ounces as troy ounces.

Erin Workman, P.Geo. is the Director of Technical Services for
NovaCopper Inc. and is a Qualified Person as defined by National
Instrument 43-101. Ms. Workman has reviewed the technical information
in this news release and approves the disclosure contained herein.

Mr. Bruce Davis, FAusIMM, the president of BD Resource Consulting Inc.,
Mr. Robert Sim, P.Geo., of Sim Geological Inc., and Mr. Jeff Austin,
P.Eng., of International Metallurgical & Environmental Inc., have also
reviewed the technical information related to the Bornite deposit in
this news release and approve the disclosure contained herein as
independent “qualified persons”, within the meaning of National
Instrument 43-101, Standards of Disclosure for Mineral Projects (NI
43-101).

Neither Bruce Davis of BD Resource Consulting Inc., Robert Sim of Sim
Geological Inc., nor Jeff Austin of International Metallurgical &
Environmental Inc., nor any associates employed in the preparation of
the Bornite Project resource estimation have any beneficial interest in
NovaCopper. These Consultants are not insiders, associates, or
affiliates of NovaCopper. The information in this press release is not
dependent upon any prior agreements concerning the conclusions to be
reached, nor are there any undisclosed understandings concerning any
future business dealings between NovaCopper and the Consultants. The
Consultants were retained by NovaCopper to prepare the Bornite Project
resource estimate and are to be paid a fee for their work in accordance
with normal professional consulting practices.

About NovaCopper

NovaCopper Inc. is a base metals exploration company focused on
exploring and developing the Ambler mining district in Alaska. It is
one of the richest and most-prospective known copper-dominant districts
located in one of the safest geopolitical jurisdictions in the world.
It hosts world-class polymetallic VMS deposits that contain copper,
zinc, lead, gold and silver, and carbonate replacement deposits which
have been found to host high-grade copper mineralization. Exploration
efforts have been focused on two deposits in the Ambler district – the
Arctic VMS deposit and the Bornite carbonate replacement deposit. A
National Instrument 43-101-compliant Preliminary Economic Assessment
for the Arctic Deposit, completed in July 2013, identified a
polymetallic open-pit project with the Net Present Value of $930 and
$535 million on the pre-tax and after-tax bases, respectively using an
8% discount rate and long-term metal prices of $2.90/lb copper,
$0.85/lb zinc, $0.90/lb lead, $22.70/oz silver and $1,300/oz gold. The
Preliminary Economic Assessment is preliminary in nature and includes
inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that
would enable them to be categorized as reserves. There is no certainty
the Preliminary Economic Assessment will be realized. Both deposits are
located within NovaCopper’s land package that spans approximately
143,000 hectares. NovaCopper has an agreement with NANA Regional
Corporation, Inc. (NANA), an Alaskan Native Corporation that provides a
framework for the exploration and potential development of the Ambler
mining district in cooperation with the local communities. Our vision
is to develop the Ambler mining district into a premier North American
copper producer.

More information on the Company, its properties and its management team
is available on the Company’s website at www.novacopper.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain “forward-looking information” and
“forward-looking statements” (collectively “forward-looking
statements”) within the meaning of applicable Canadian and United
States securities legislation including the United States Private
Securities Litigation Reform Act of 1995. All statements, other than
statements of historical fact, included herein, without limitation,
statements relating to the future operating or financial performance of
NovaCopper, are forward-looking statements. Forward-looking statements
are frequently, but not always, identified by words such as “expects”,
“anticipates”, “believes”, “intends”, “estimates”, “potential”,
“possible”, and similar expressions, or statements that events,
conditions, or results “will”, “may”, “could”, or “should” occur or be
achieved. These forward-looking statements may include statements
regarding perceived merit of properties; exploration results and
budgets; mineral reserves and resource estimates; work programs;
capital expenditures; timelines; strategic plans; market prices for
precious and base metals; or other statements that are not statements
of fact. Forward-looking statements involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from NovaCopper’s
expectations include the uncertainties involving the need for
additional financing to explore and develop properties and availability
of financing in the debt and capital markets; uncertainties involved in
the interpretation of drilling results and geological tests and the
estimation of reserves and resources; the need for cooperation of
government agencies and native groups in the development and operation
of properties; the need to obtain permits and governmental approvals;
risks of construction and mining projects such as accidents, equipment
breakdowns, bad weather, non-compliance with environmental and permit
requirements, unanticipated variation in geological structures, metal
grades or recovery rates; unexpected cost increases, which could
include significant increases in estimated capital and operating costs;
fluctuations in metal prices and currency exchange rates; and other
risk and uncertainties disclosed in NovaCopper’s Annual Report on Form
10-K for the year ended November 30, 3013 filed with Canadian
securities regulatory authorities and with the United States Securities
and Exchange Commission and in other NovaCopper reports and documents
filed with applicable securities regulatory authorities from time to
time. NovaCopper’s forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made.
NovaCopper assumes no obligation to update the forward-looking
statements or beliefs, opinions, projections, or other factors, should
they change, except as required by law.

Cautionary Note to United States Investors

This press release has been prepared in accordance with the requirements
of the securities laws in effect in Canada, which differ from the
requirements of U.S. securities laws. Unless otherwise indicated, all
resource and reserve estimates included in this press release have been
prepared in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects (“NI 43-101″) and the Canadian
Institute of Mining, Metallurgy, and Petroleum Definition Standards on
Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed
by the Canadian Securities Administrators which establishes standards
for all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Canadian standards, including
NI 43-101, differ significantly from the requirements of the United
States Securities and Exchange Commission (“SEC”), and resource and
reserve information contained herein may not be comparable to similar
information disclosed by U.S. companies. In particular, and without
limiting the generality of the foregoing, the term “resource” does not
equate to the term “reserves”. Under U.S. standards, mineralization may
not be classified as a “reserve” unless the determination has been made
that the mineralization could be economically and legally produced or
extracted at the time the reserve determination is made. The SEC’s
disclosure standards normally do not permit the inclusion of
information concerning “measured mineral resources”, “indicated mineral
resources” or “inferred mineral resources” or other descriptions of the
amount of mineralization in mineral deposits that do not constitute
“reserves” by U.S. standards in documents filed with the SEC. Investors
are cautioned not to assume that any part or all of mineral deposits in
these categories will ever be converted into reserves. U.S. investors
should also understand that “inferred mineral resources” have a great
amount of uncertainty as to their existence and great uncertainty as to
their economic and legal feasibility. It cannot be assumed that all or
any part of an “inferred mineral resource” will ever be upgraded to a
higher category. Under Canadian rules, estimated “inferred mineral
resources” may not form the basis of feasibility or pre-feasibility
studies except in rare cases. Investors are cautioned not to assume
that all or any part of an “inferred mineral resource” exists or is
economically or legally mineable. Disclosure of “contained ounces” in a
resource is permitted disclosure under Canadian regulations; however,
the SEC normally only permits issuers to report mineralization that
does not constitute “reserves” by SEC standards as in-place tonnage and
grade without reference to unit measures. The requirements of NI 43-101
for identification of “reserves” are also not the same as those of the
SEC, and reserves reported by the Company in compliance with NI 43-101
may not qualify as “reserves” under SEC standards. Accordingly,
information concerning mineral deposits set forth herein may not be
comparable with information made public by companies that report in
accordance with U.S. stan

SOURCE NovaCopper Inc.


Source: PR Newswire



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