Pala Investments Limited acquired 2.24% stake in Nevada Copper Corp. (TSX:NCU) for CAD 7.7 million on December 1, 2021. Pala Investments Limited acquired beneficial ownership of, and control or direction over, an aggregate of 10,000,000 common shares of Nevada Copper Corp. and 5,000,000 Common Share purchase warrants pursuant to a private transaction with its affiliate, Pala Investments Limited ("Pala Investments"). The Securities were acquired for an aggregate purchase price of CAD 7.7 million. Each Warrant is exercisable for one Common Share at a price of CAD 1 per Warrant at any time until May 29, 2023. Immediately prior to the acquisition, Pala Assets did not own any securities of the Company. Immediately following the acquisition, Pala Assets had beneficial ownership of and exercised control or direction over 10,000,000 Common Shares and 5,000,000 Warrants, representing approximately 2.24% of the issued and outstanding Common Shares on a non-diluted basis (on the basis of 445,900,563 Common Shares being issued and outstanding as of the date hereof). If Pala Assets fully exercises the Warrants acquired under the transaction referred to herein, Pala Assets would hold an aggregate 15,000,000 of the issued and outstanding Common Shares on a partially-diluted basis, representing approximately 3.33% of the issued and outstanding Common Shares (on the basis of 450,900,563 Common Shares being issued and outstanding). Following completion of this acquisition, Pala Assets, together with its affiliate and joint actor, Pala Investments, owns 167,759,110 Common Shares, representing approximately 37.62% of the issued and outstanding Common Shares on a non-diluted basis and 235,627,115 Common Share purchase warrants exercisable into an aggregate of 81,209,774 Common Shares, representing approximately 47.23% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the exercise in full of all of Pala Assets' and Pala Investments' warrants and on the basis of 527,110,337 Common Shares being issued and outstanding). Pala Investments Limited completed the acquisition of 2.24% stake in Nevada Copper Corp. (TSX:NCU) on December 1, 2021.