TSX, NYSE-MKT Symbol: NCQ
VANCOUVER, June 4, 2013 /CNW/ - NovaCopper Inc. (TSX, NYSE-MKT: NCQ) ("NovaCopper" or "the Company") is announcing that
in connection with the approval of the shareholders of NovaGold
Resources Inc. ("NovaGold") at the shareholders meeting of NovaGold
held on May 29, 2013, and the execution by NovaGold of an agreement
dated May 30, 2013 amending an original escrow agreement dated May 22,
1987, NovaGold common shares ("Escrowed Shares") registered to certain
founders of NovaGold ("NovaGold Founders") may be released from escrow
upon compliance by NovaGold with the provisions of National Policy
46-201 - Escrow For Initial Public Offerings, which provides that
NovaGold must issue a news release at least 60 days before the first
release of escrow securities under the amending agreement. NovaGold
issued such press release on June 3, 2013 and advised the Escrowed
Shares will be released to Gerald McConnell and Angus MacIsaac, the
registered holders of the Escrowed Shares, on August 5, 2013.
As part of the Company's spin-out by NovaGold which was completed last
year the NovaGold Founders also received 9,091 NovaCopper common shares
with respect to their Escrowed Shares, which were also placed into
escrow. The Company is issuing this news release to permit these
NovaCopper common shares to be released from escrow to the NovaGold
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 VMS deposits that contain copper, zinc, lead, gold
and silver, and carbonate replacement deposits which have been found to
host high-grade copper mineralization. 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.
SOURCE: NovaCopper Inc.
For further information:
Vice President & Chief Financial Officer
Vice President, Corporate Communications
604-638-8088 or 1-855-638-8088