YERINGTON, Nev., July 04, 2022 (GLOBE NEWSWIRE) -- Nevada Copper (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) is pleased to announce that it has agreed to non-binding terms with its senior lender, KfW IPEX-Bank (“KfW’) and its largest shareholder, Pala Investments Limited (“Pala”), for a loan of up to US$70 million, by way of a new tranche extension to the existing senior credit facility with KfW. This funding would be provided by Pala, with the potential participation of other lenders. Of the total amount, US$50 million will be committed to be advanced by the lenders (including the outstanding amount of the previously announced up to US$20 million promissory note provided by Pala) and US$20 million may be available for future draw by the Company on an uncommitted basis. The Company is in ongoing discussions with KfW, Pala and other lenders with the aim of executing binding agreements during the month of July 2022.