Trilogy Metals Inc. — Director's Dealing 2012

Dec 3, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

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

Reporting Person: PAULSON & CO INC (10% Owner)
Reporting Person: PAULSON PARTNERS LP (10% Owner)
Reporting Person: PAULSON PARTNERS ENHANCED L.P. (10% Owner)
Reporting Person: Paulson International Ltd. (10% Owner)
Reporting Person: Paulson Advantage Master Ltd. (10% Owner)
Reporting Person: Paulson Advantage Plus Master Ltd. (10% Owner)
Reporting Person: PAULSON ENHANCED LTD (10% Owner)
Reporting Person: Paulson John (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	622877	Direct
Common Stock	1130766	Direct
Common Stock	1316666	Direct
Common Stock	507154	Direct
Common Stock	1532073	Direct
Common Stock	516816	Direct
Common Stock	137589	Direct
Common Stock	157667	Indirect

Footnotes

F1: Reflects the securities of the issuer owned directly by Paulson Advantage Master Ltd. ("Advantage Master").

F2: Reflects the securities of the issuer owned directly by Paulson Advantage Plus Master Ltd. ("Advantage Plus Master").

F3: Reflects the securities of the issuer owned directly by Paulson Gold Master Fund Ltd. ("Gold Master").

F4: Reflects the securities of the issuer owned directly by Paulson Partners Enhanced, L.P. ("Enhanced LP").

F5: Reflects the securities of the issuer owned directly by Paulson Enhanced Ltd. ("Enhanced Ltd.").

F6: Reflects the securities of the issuer owned directly by Paulson International Ltd. ("International").

F7: Reflects the securities of the issuer owned directly by Paulson Partners L.P. ("Paulson Partners").

F8: Reflects securities held in accounts managed separately (the "Separately Managed Accounts") by Paulson & Co. Inc. ("Paulson & Co.").

F9: Paulson & Co. is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. provides investment management services to Advantage Master, Advantage Plus Master, Gold Master, Enhanced Ltd., International and the Separately Managed Accounts, and is a general partner of Paulson Partners and Enhanced LP. John Paulson is the controlling person of Paulson & Co. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 3 shall not be deemed an admission by any of the persons reporting on this Form 3 that he or it, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.