Trilogy Metals Inc. — Director's Dealing 2012

Nov 30, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: NovaCopper Inc. (NCQ)
CIK: 0001543418
Period of Report: 2012-11-30

Reporting Person: KAPLAN THOMAS SCOTT (Director)
Reporting Person: Electrum Strategic Resources LLC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	8872033	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$3.11	2017-04-29	Common Shares (200000)		Direct
Stock Option (right to buy)	$5.92	2012-12-06	Common Shares (12625)		Direct
Stock Option (right to buy)	$5.92	2012-12-06	Common Shares (16666)		Direct
Warrants	$0.00	2013-01-21	Common Shares (5222879)		Indirect

Footnotes

F1: This Form 3 is being filed by the undersigned as well as the entity listed on the Joint Filer Information Statement attached as an exhibit hereto.

F2: Mr. Kaplan is the Chairman and Chief Executive Officer of Electrum Strategic Resources LLC ("Electrum"). Electrum holds 8,872,033 common shares of the Issuer and warrants (the "NovaGold Warrants") issued by NovaGold Resources Inc. ("NovaGold") which are exercisable for, among other things, an aggregate of 5,222,879 common shares of the Issuer. The exercise price of the NovaGold Warrants, which is payable to NovaGold upon exercise, is $1.50 per NovaGold common share and also entitles the holder to receive 0.1667 NovaCopper common shares for each $1.50 paid upon exercise. Mr. Kaplan disclaims beneficial ownership of the shares reported herein except to the extent of his pecuniary interest therein as determined subject to Rule 16a-1(a)(2).