MINNEAPOLIS - Global alternative investment firm Castlelake, L.P. ('Castlelake'), today announced that it has filed an updated Early Warning Report in respect of Nevada Copper Corp. ('NCU').

Following a series of sales by Castlelake of an aggregate of 34,843,000 NCU Shares (Transactions), Castlelake funds' holdings of NCU Shares decreased by 2.0% on a non-diluted basis and 2.0% on a partially diluted basis.

Prior to the completion of the Transactions, Castlelake funds held (a) 286,535,165 NCU Shares (representing approximately 15.6% of the then current issued and outstanding NCU Shares on a non-diluted basis) and (b) 74,951,426 Warrants (representing, together with the 286,535,165 NCU Shares, approximately 18.9% of the then current issued and outstanding NCU Shares on a partially diluted basis (assuming only the exercise of the Warrants held by the Castlelake funds)).

Upon completion of the Transactions, Castlelake funds hold (a) 251,692,165 NCU Shares (representing approximately 13.6% of the current issued and outstanding NCU Shares on a non-diluted basis) and (b) 74,951,426 Warrants (representing, together with the 251,692,165 NCU Shares, approximately 16.9% of the current issued and outstanding NCU Shares on a partially diluted basis (assuming only the exercise of the Warrants held by the Castlelake funds).

Contact:

Molly Blemker

Tel: +1 612 851 3083

About Castlelake

Castlelake, L.P. is a global alternative investment manager focused on opportunistic investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $20 billion of assets on behalf of its investors. The Castlelake team comprises more than 200 experienced professionals, including 89 investment professionals, across six offices in North America, Europe and Asia.

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