Oleblue
6月前
Highland Copper Signs Definitive Agreement for Sale of 34% Interest in White Pine for US$30 Million
January 13, 2026
VANCOUVER, BRITISH COLUMBIA – January 13, 2026 – Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland Copper” or the “Company“) is pleased to announce, further to its press release of November 25, 2025, that it has signed a definitive Membership Interest Purchase Agreement (the “Agreement”) with its joint venture partner, Kinterra Copper USA LLC (“Kinterra“), for the sale of the Company’s 34% interest in the White Pine North Project (“White Pine“) for aggregate consideration of approximately US$30 million (the “Transaction”).
The total consideration consists of US$18.3 million in cash, net of the outstanding principal and accrued interest on the loan made by Kinterra to the Company’s wholly owned subsidiary, Upper Peninsula Copper Holdings Inc., which is expected to total approximately US$11.7 million at closing. In addition, the parties have agreed to suspend cash calls under the White Pine joint operating agreement. The Company will not be obligated to make cash calls through closing, and any such cash calls will be recorded and allocated between Kinterra and the Company only if the transaction does not close.
Proceeds from the sale of White Pine will be used to fund the Company’s planned corporate and Copperwood Project activities, eliminate existing debt, and streamline its overall corporate structure.
The parties intend to work towards closing of the Transaction in January 2026, with an outside date of February 27, 2026. Completion of the Transaction remains subject to customary closing conditions, including approval of the TSX Venture Exchange, as well as the discharge of various security interests held by existing streaming counterparties on White Pine and all requisite third-party consents and releases having been obtained.
Moelis & Company LLC is acting as exclusive financial advisor and McMillan LLP is acting as legal advisor to the Company in connection with the Transaction.
About Highland Copper Company
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The Company owns the Copperwood deposit through long-term mineral leases and 34% of the White Pine North project through a joint venture with Kinterra Copper USA LLC. The Company also owns surface rights securing access to the Copperwood deposit and providing space for infrastructure at Copperwood as required. The Company has 738,188,122 common shares issued and outstanding. Its common shares are listed on the TSX Venture Exchange under the symbol “HI” and trade on the OTCQB Venture Market under symbol “HDRSF”.
More information about the Company is available on the Company’s website at www.highlandcopper.com and on SEDAR+ at www.sedarplus.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These statements include, without limitation, statements with respect to the timing of completion of the Transaction and the anticipated use of the proceeds from the Transaction. These underlying assumptions may prove to be incorrect. Important factors that could materially impact the Company’s expectations include: (i) with respect to timing for closing, that timing is subject to the receipt of necessary approvals, and settlement of contractual arrangements with third parties, which are subject to further negotiation; (ii) with respect to the total consideration, is based on an assumed closing date of January 31, 2026; and (iii) with respect to the use of proceeds, is subject to: changes in Copperwood project parameters as plans continue to be refined; availability of services, materials and skilled labour to complete work programs, testing and drilling; effects of regulation by governmental agencies; the fact that permit extensions, renewals and amendments are subject to regulatory approvals, which may be conditioned, delayed or denied; there is no assurance that the grant funding we have applied for will be available, and any such approval may be subject to conditions; advancement to a construction decision at Copperwood is subject to additional studies, for which the Company will require additional funds, which may not be available on a timely basis and accordingly could delay a construction decision; unexpected cost increases, which could include significant increases in estimated capital and operating costs and the effects of inflation; fluctuations in metal prices and currency exchange rates; general market and industry conditions, the results of baseline studies and test work may result in unforeseen issues which could delay or hamper advancement of the project, and the other risks set out in the Company’s public disclosure documents, including the AIF, filed on SEDARPlus. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on forward looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information or media requests, please contact:
Barry O’Shea, CEO
Email: info@highlandcopper.com
https://www.highlandcopper.com/news/highland-copper-signs-definitive-agreement-for-sale-of-34-interest-in-white-pine-for-us30-million/
https://schrts.co/GrXsRKpu
Oleblue
9月前
Highland Copper Completes Phase 1 Engineering And Announces Positive Results From Trade-Off Studies At Its Copperwood Project
VANCOUVER, BRITISH COLUMBIA – October 15, 2025 – Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) has successfully completed Phase 1 detailed engineering (“Phase 1”) for its 100%-owned Copperwood Project in Michigan, USA. Phase 1 represented a comprehensive re-evaluation of the project, and in key areas, confirmation of overall project design. The work has delivered meaningful improvements to both the process plant and mine, strengthening the overall project, improving its environmental footprint and advancing Copperwood toward Phase 2 detailed engineering (“Phase 2”). Phase 2 will advance engineering to approximately 35-40%, supporting a potential construction decision and technical due diligence for project financing in 2026. Phase 2 will also update capital and operating costs to reflect inflation and other changes since the Feasibility Study.
Phase 1 was overseen by Highland Copper’s internal engineering team under the leadership of Project Director, Dr. Wynand van Dyk. Dr. van Dyk has a PhD in Extractive Metallurgical Engineering and a 30-year career in metallurgical design, construction and operations. His addition in late 2024 significantly strengthened the Company’s technical capacity to advance Copperwood toward a construction decision. Engineering for the process plant and mine was carried out by DRA Americas Inc (“DRA”). Overall water balance engineering was completed by Foth Infrastructure & Environment, LLC (“Foth”) and Tailings Disposal Facility (“TDF”) engineering was completed by Tetra Tech.
Process Plant Redesign Highlights
As announced on September 4, 2025, based on the positive results from the 2025 metallurgical test work program, the process plant has been broadly redesigned.
Higher Recoveries and Lower Costs: The redesigned circuit is expected to achieve 87.6% copper recovery at a concentrate grade of 25% copper, while also reducing operating costs through lower power and reagent consumption. Particularly, an optimized reagent scheme reduces processing costs by approximately $1.00 per tonne milled. This represents a clear improvement over the 2023 Feasibility Study from a recovery and cost perspective.
More Efficient Comminution: The adoption of an MF2 circuit with a coarser primary grind, a de-sliming stage ahead of the secondary milling and optimized regrind using ISAMill technology, reduces power demand and operating costs while minimizing fine particle losses.
Smaller, Smarter Flotation Plant: The integration of Jameson cell ultrafine flotation technology substantially reduced the overall flotation plant footprint and complexity, lowering capital costs and improving ESG performance.
Operational Improvements: A larger ore storage silo, enhanced pump redundancy and the adoption of a Programmable Logic Controller/Supervisory Control and Data Acquisition (“PLC/SCADA”) control system will improve reliability and align with local expertise.
Collectively, these refinements increase copper recoveries, reduce costs, and de-risk execution while strengthening Copperwood’s environmental and operational profile.
Mine Engineering Highlights
Phase 1 mine engineering re-evaluated the mining method, mining equipment and underground ore handling with the goal of reducing technical risk and improving economics.
Mining Method: While the 2023 Feasibility Study proposes room-and-pillar (R&P) mining, Phase 1 evaluated drift-and-fill (D&F) in high-grade zones of the ore body. It was identified that D&F could potentially increase mine recoveries from 69% to approximately 94%, extend mine life, and reduce the tailings footprint by using paste backfill. A hybrid approach of D&F in the west and R&P in the east may present an opportunity to improve the economic returns of the project, subject to successful paste test work early in Phase 2 engineering. If paste backfill is determined to be technically viable, Highland will consider other relative merits, including environmental and permitting implications, before considering changing from the R&P mining method for certain areas of the deposit. We are encouraged by the optionality D&F provides and will provide updates on this engineering during Phase 2.
Mining Equipment: During the Phase 1 review, DRA reviewed the productivity assumptions regarding roadheader (continuous miner) utilization, particularly their maneuverability and cycle times. As part of an overall mine plan review early in Phase 2, we will continue to assess the technical and financial merits of roadheaders versus conventional drill-and-blast using jumbos.
Underground Ore Handling: Trade-off studies confirmed conveyors as the preferred option over truck haulage, offering the lowest operating cost, minimal ventilation needs, and long-term scalability. The design also maintains flexibility to adopt battery electric vehicle technology in the future.
Tailings & Water Management Engineering Highlights
An integrated approach between DRA, Foth and Tetra Tech delivered a more efficient, lower risk plan for tailings deposition and water management.
Thickened Tailings: The addition of a tailings thickener increases solids content to approximately 50% by mass, cutting tailings handling costs, reducing the scale of the tailings disposal facility (“TDF”) footprint, and providing for the immediate recycle of more than 80% of process water needs directly back to the plant. Additionally, the TDF will no longer be used for contact water storage, further reducing dam failure risk. Instead, contact water will be managed in a permanent rainwater retention dam, improving safety and aligning with global standards.
Underground Tailings Disposal: Studies indicate that approximately 7.9 Mm³ of thickened tailings could potentially be stored underground, reducing the required surface TDF footprint by approximately 40%. This option will be further assessed in Phase 2 engineering, including environmental and permitting implications.
Water Resilience: Updated water balance modeling confirmed robust water management across a range of climate scenarios, strengthening ESG performance.
Considerations in Phase 2 Engineering
Labor Costs: As the Copperwood Project advances toward Phase 2 engineering, an updated labor cost survey will be required to accurately reflect the costs and benefits necessary to attract and retain skilled technical personnel and experienced underground equipment operators in Michigan’s Upper Peninsula. Several outcomes of the Phase 1 trade-off studies, including mining method selection, equipment deployment, and ore handling strategies, are sensitive to labor costs. These costs will directly impact the overall unit mining cost and, by extension, the project’s operating cost structure. A refreshed labor cost baseline will ensure that Copperwood’s mine plan is both competitive and realistic, aligning workforce expectations with project requirements while supporting the long-term sustainability of operations in the region.
Integrated Mine Plan Review: The Company will update the Copperwood mine plan to incorporate a revised cut-off grade, integrating the results of the updated labor survey, potential modifications to the mining method and equipment strategy, and broader market inputs such as copper price movements and relevant cost indices. During Phase 2, an in-depth review of the ground support design and associated back height will be undertaken. Given the unique geotechnical conditions, the excavation method, back height, and ground support are highly interdependent and must be evaluated as an integrated system. This integrated systems approach will guide final decisions on mining method selection (including the potential adoption of D&F), ground support design, and the potential implementation of underground tailings disposal. The resulting mine plan will align updated technical solutions and economic assumptions, ensuring both operational efficiency and long-term project viability.
Project Considerations: To the extent any technical optimizations require permit amendments, the project schedule will be adjusted to appropriately reflect timing considerations. Permit amendments may be needed to reflect the optimized process plant design flow sheet, the addition of a tailings thickener, selection of power source to site, and potential mining method and tailings disposal changes. If permits are amended, we will also take the opportunity to resolve any minor discrepancies to project design. We are encouraged that permit amendments under consideration generally improve the environmental footprint of the project, as well as its technical and financial strength. The reduced scale of the process plant, incorporation of a tailings thickener, consideration of D&F mining method, as well as paste backfill of tailings, all demonstrate improved environmental, health and safety characteristics. We are also encouraged by our recent success in amending permits in a timely basis. If we elect to amend permits, the targeted construction decision of Q2 2026 will likely defer to the second half of 2026.
Qualified Person Statement
The technical information in this news release has been reviewed and approved by Dr. Wynand van Dyk, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Dr van Dyk is employed by Copperwood Resources Inc, a wholly owned subsidiary of Highland Copper, in the role as Project Director.
About Highland Copper Company:
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The Company owns the Copperwood deposit through long-term mineral leases and 34% of the White Pine North project through a joint venture with Kinterra Copper USA LLC. The Company also owns surface rights securing access to the Copperwood deposit and providing space for infrastructure at Copperwood as required. The Company has 736,363,619 common shares issued and outstanding. Its common shares are listed on the TSX Venture Exchange under the symbol "HI" and trade on the OTCQB Venture Market under symbol "HDRSF".
More information about the Company is available on the Company’s website at www.highlandcopper.com and on SEDAR+ at www.sedarplus.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking statements” and “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These statements include, without limitation, statements with respect to: (a) Phase 1 engineering work, and the anticipated benefits thereof; including with respect to: (i) the process plant redesign; (ii) changes to mine engineering and potential changes to the mining method for Copperwood; (iii) improvements to tailings and water management; (b) the potential to advance to Phase 2 engineering work at Copperwood and the timing thereof; (c) potential updates to the Copperwood mine plan; (d) the impact on the project schedule if permitting amendments are required; and (e) the potential timing of a construction decision and project financing with respect to Copperwood. The forward-looking statements are subject to a number of assumptions, including those set out in the technical reports entitled “Feasibility Study Update Copperwood Project Michigan, USA” and the Company’s annual information form for the year ended June 30, 2024 (the “AIF”). These underlying assumptions may prove to be incorrect. Important factors that could materially impact the Company's expectations include: changes in project parameters as plans continue to be refined; availability of services, materials and skilled labour to complete work programs, testing and drilling; effects of regulation by governmental agencies; the fact that permit extensions, renewals and amendments are subject to regulatory approvals, which may be conditioned, delayed or denied; there is no assurance that the grant funding we have applied for will be available, and any such approval may be subject to conditions; advancement to a construction decision at Copperwood is subject to additional studies, for which the Company will require additional funds, which may not be available on a timely basis and accordingly could delay a construction decision; the Company will be required to repay the loan facility from Kinterra in July, 2026, or will have its interest at White Pine diluted; unexpected cost increases, which could include significant increases in estimated capital and operating costs and the effects of inflation; fluctuations in metal prices and currency exchange rates; general market and industry conditions, the results of baseline studies and test work may result in unforeseen issues which could delay or hamper advancement of the projects, the results of drill programs may not result in identification or confirmation of resources, and the other risks set out in the Company’s public disclosure documents, including the AIF, filed on SEDARPlus. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on forward looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information or media requests, please contact:
Barry O’Shea, CEO
Email: info@highlandcopper.com
Website: www.highlandcopper.com
Weekly Chart
Oleblue
10月前
Vancouver, British Columbia – September 10, 2025 – Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) is pleased to announce the successful completion of its early site work and related environmental mitigation program at its 100%-owned, fully permitted Copperwood Project in Michigan, USA.
The program was completed safely, within budget, and in full compliance with the Michigan Wetlands and Streams Permit. The early site works program focused on preparing the site for future construction while proactively implementing environmental safeguards and controls. The work has been subject to ongoing inspection from the Michigan Department of Environment, Great Lakes, and Energy (“EGLE”) and has met all key regulatory obligations. Importantly, the environmental mitigation program has demonstrated the positive impact of concurrent reclamation. Completion of this initiative not only ensures that permits remain in good standing but also demonstrates Highland’s ongoing commitment to responsible development.
A central component of the program was a significant investment in environmental stewardship to minimize and mitigate the project’s impact. Key activities included:
Wetland Creation: The construction of approximately 18 acres of compensating wetlands to offset impacted areas.
Revegetation: The successful planting of nearly 20,000 native trees, wildflowers, sedges, and rushes in the newly created habitats throughout the stream diversion and wetlands.
Long-Term Preservation: Commitment to establish a 717-acre wetland preservation area, with a conservation easement and long-term management plan being finalized to ensure permanent protection beyond the life of mining operations.
Barry O’Shea, CEO of Highland Copper, commented: “Michigan has stringent regulation to ensure mining projects minimize and mitigate their impact. Highland takes this commitment seriously and has demonstrated this with its environmental mitigation work at this early stage of its development. We are also showing that reclamation does not need to start at closure. It can be done concurrent with development. We are particularly pleased that the stream and wetland projects are maturing well into high-quality habitats.”
The following photos show how the wetland creation and revegetation efforts are quickly maturing. A variety of seeded and planted species are taking hold, along with abundant wildlife. These mitigation projects are continuing to develop into a self-sustaining systems, rich in biodiversity.
Figure 1 – A section of the East Stream diversion channel, comparing April (left) and August (right) 2025. Vigorous vegetation growth across the reconstructed stream areas has stabilized the new channels against erosion while creating high-quality wildlife habitat.
Figure 2 – Plant growth in the Gipsy wetland mitigation area has been impressive. The images above show vegetation development in wetland cell ‘C1’ from May (left) to August (right) 2025.
Figure 3 – The Choate Road crossing over Bluff Creek was improved to replace a set of culverts with a clear-span bridge. Shown above are the culverts (before) and the new bridge (after). This stream mitigation project was designed to improve fish passage and stream habitat quality. Additional restoration of in-stream features, both up and down-stream from the bridge, will be completed in September 2025.
Figure 4 – Stream restoration in several sections of Bluff Creek is designed to improve stream flow properties and habitat quality. Shown above is a location where the eroded outside bank (left – April 2025) is in the process of being reconstructed (right – August 2025).
About Highland Copper Company
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The Company owns the Copperwood deposit through long-term mineral leases and 34% of the White Pine North project through a joint venture with Kinterra Copper USA LLC. The Company also owns surface rights securing access to the Copperwood deposit and providing space for infrastructure at Copperwood as required. The Company has 736,363,619 common shares issued and outstanding. Its common shares are listed on the TSX Venture Exchange under the symbol “HI” and trade on the OTCQB Venture Market under symbol “HDRSF”.
More information about the Company is available on the Company’s website at www.highlandcopper.com and on SEDAR+ at www.sedarplus.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These statements include, without limitation, statements with respect to: the anticipated benefits of early site work program at Copperwood. The forward-looking statements are subject to a number of assumptions, including those set out in the technical reports entitled “Feasibility Study Update Copperwood Project Michigan, USA” and the Company’s annual information form for the year ended June 30, 2024 (the “AIF”). These underlying assumptions may prove to be incorrect. Important factors that could materially impact the Company’s expectations include: changes in project parameters as plans continue to be refined; availability of services, materials and skilled labour to complete work programs, testing and drilling; effects of regulation by governmental agencies; the fact that permit extensions, renewals and amendments are subject to regulatory approvals, which may be conditioned, delayed or denied; advancement to a construction decision at Copperwood is subject to additional studies, for which the Company will require additional funds, which may not be available on a timely basis and accordingly could delay a construction decision; unexpected cost increases, which could include significant increases in estimated capital and operating costs and the effects of inflation; fluctuations in metal prices and currency exchange rates; general market and industry conditions, the results of baseline studies and test work may result in unforeseen issues which could delay or hamper advancement of the projects, and the other risks set out in the Company’s public disclosure documents, including the AIF, filed on SEDARPlus. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on forward looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information or media requests, please contact:
Barry O’Shea, CEO
Email: info@highlandcopper.com
Website: www.highlandcopper.com
https://www.highlandcopper.com/news/highland-copper-completes-environmental-mitigation-program-demonstrating-benefit-of-concurrent-reclamation-at-copperwood-project/
https://schrts.co/GrXsRKpu
Oleblue
10月前
Highland Copper Announces Updated Process Plant Flow Sheet Demonstrating Increased Copper Recoveries of 87.6% and Reduced Processing Costs
September 4, 2025
Vancouver, Canada, September 4, 2025 – Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) is pleased to announce positive results from its 2025 metallurgical test work program for the 100%-owned Copperwood Project (“Copperwood”), located in Michigan’s Upper Peninsula. The test work was conducted by Base Metallurgical Laboratories Ltd. (“Base Met Labs”) in Kamloops, British Columbia, with technical oversight provided by DRA Americas Inc. (“DRA”).
In Q1 2025, Highland initiated a metallurgical test program with the goal of improving the process plant design, incorporating ultrafine flotation technology, and broadly reconsidering the operating cost structure of the process plant. Highland is pleased to announce the process plant has been redesigned to reflect a more effective comminution circuit, a simpler flotation circuit incorporating Jameson cell ultrafine flotation technology, and an optimized reagent scheme. This is anticipated to deliver an increase in copper recoveries to 87.6% at lower plant capital and processing costs. While more effective, the redesigned process plant is smaller in scale and requires lower overall power consumption. Highland is pleased that Glencore Technologies is prepared to offer a performance guarantee in relation to the improved copper recovery estimate, providing confidence in the robust nature of the test program and its results.
This metallurgical update is an important component of Phase 1 detailed engineering, also initiated in Q1 2025. The goal of Phase 1 engineering is to finalize design criteria related to process plant, mine, tailings, and water management. As demonstrated by the redesigned process plant, Phase 1 engineering represents a significant re-evaluation by Highland Copper’s project team, overseen by Project Director, Dr. Wynand van Dyk. Dr. van Dyk has a degree in Chemical Engineering/Extractive Metallurgy and a 30-year career in mine design, construction and operations. Highland looks forward to providing further project design updates as Phase 1 engineering concludes in September 2025.
Metallurgical Test Work Highlights:
Comprehensive Testing Program: Conducted 45 kinetic rougher and cleaner flotation tests to refine grind parameters and reagent schemes, along with locked-cycle tests and pilot-scale testing on ultrafine flotation technology.
Optimized Process Circuit: Adopted a mill-float-mill-float (“MF2”) flowsheet including a de-sliming stage prior to the secondary milling stage. The addition of a de-sliming stage ahead of the secondary milling and roughers allows for the rejection of up to 25% of the mass from the primary rougher tailings. This configuration reduces over-grinding and offers potential comminution energy savings of between 10 and 13.7%.
Improved Reagent Scheme: Developed an optimized reagent suite that is expected to reduce operating costs by up to $1.00 per tonne milled, while also improving environmental, health and safety (“EH&S”) performance.
MF2 Circuit and Improved Reagent Scheme Performance: Test work with the MF2 circuit and optimized reagent scheme delivered kinetic rougher copper recoveries of up to 92.4% at the target rougher concentrate grade of 4.5% copper, a notable improvement over the 89.7% baseline from 2018 test work. Kinetic cleaner circuit recoveries were maintained at levels comparable to the 2018 baseline. Importantly, locked-cycle tests confirmed up to 85.8% recovery at a 25% copper concentrate grade, demonstrating that the enhanced reagent scheme and MF2 configuration is capable to deliver meaningful operating cost savings without compromising metallurgical performance.
Projected Ultrafine Flotation Performance Gains: Through the introduction of ultrafine flotation technology, the adoption of an MF2 circuit, and the implementation of an optimized reagent scheme, Copperwood is now expected to achieve average copper recovery of 87.6% at a concentrate grade of 25% copper, all at lower operating costs. Glencore Technologies is prepared to offer a process guarantee related to recovery and grade estimates. This marks a significant step-change from the 2023 Feasibility Study[1], which reported 86% recovery at 25% copper grade, underscoring the strength of the redesigned metallurgical flowsheet.
Dr Wynand van Dyk, Project Director for the Copperwood project, commented: “These results represent the culmination of a complete re-evaluation and re-engineering of the Copperwood metallurgical flowsheet. The outcome is a robust circuit design, firmly grounded in fundamental principles and tailored to the orebody itself. I want to extend my sincere thanks to both the DRA and Base Met Labs teams for their dedication and countless hours of effort throughout this test work program. Once we finalize the process design, we will be well-positioned to advance confidently into the detailed engineering phase.”
Barry O’Shea, President and CEO of Highland Copper commented: “These metallurgical results represent another key milestone as we advance toward a construction decision in 2026. The outcomes support a clear pathway to lower processing costs, with projected recoveries exceeding those in our 2023 Feasibility Study. As detailed engineering progresses with DRA, we are encouraged by the potential to enhance project economics and reduce technical risk.”
Next Steps:
As announced in January 2025, Highland awarded the Front-End Engineering and Design (FEED) contracts for both the mine and process plant to DRA. The 2025 metallurgical program has provided critical data to finalize process plant design criteria under Phase 1 of the engineering program. The next steps will focus on:
Variability Work: Completion of lock-cycle variability testing on the finalized flowsheet. This work is expected to conclude in early Q4 2025.
Design Criteria Finalization: Confirmation of the final process design criteria ahead of initiating Phase 2 of the detailed engineering program.
SUPPORTING TECHNICAL DETAIL
Sample selection and spatial context
The 2025 metallurgical drilling campaign comprised 10 PQ-size drill holes, designed to provide representative material from the early mine years for metallurgical testing. These holes were twinned at the five locations previously sampled during the 2017-2018 flotation test work campaign, which formed the basis of the 2018 comprehensive metallurgical program conducted by SGS[2] (see Figure 1). The sampling intervals, received sample masses, and assay values are summarized in Table 1.
To align with geotechnical recommendations for mine design, each metallurgical interval excluded the uppermost 30cm of the Lower Copper Bearing Sequence (LCBS), as per the geotechnical recommendations for the mine design. In total, 404 kg of core was collected and used to prepare the composite sample for the current phase of test work, as well as to prepare variability samples for the forthcoming lock-cycle variability testing.
One of the drill holes, CW-25-211, intersected the main Copperwood Fault, providing an additional 41.7kg of mineralized fault-repeat material (sample CW-25-211FR). As this material is a structural repeat of the LCBS, it was used in preliminary bench-scale tests to replicate the performance of the 2018 flotation program. This strategy allowed Highland to preserve the primary composite material for the broader 2025 metallurgical testing campaign.
Table 1: 2025 test work sample detail
To confirm the representativeness of the 2025 composite sample, preliminary rougher bench-scale flotation tests were done. The objective of these tests was to replicate the metallurgical performance observed during the 2018 flotation program, thereby providing confidence in the validity of the new sample set.
Figure 2 presents the mass pull versus recovery curves from these preliminary tests, alongside historical data from the 2018 campaign – specifically Test F19 and Test F71. Test F19 represented the optimal rougher flotation conditions applied during the majority of the 2018 test work, while test F71 served as the baseline for a campaign which employed excessive NaHS dosages exceeding 2,600 g/t.
Figure 1: 2025 metallurgical test work sample locations corresponding with 2018 SGS metallurgical campaign.
As shown in Figure 2, the 2025 sample demonstrates a metallurgical response consistent with the 2018 baseline results. This correlation supports the representativeness of the new composite material. On this basis an additional 19 rougher and 20 cleaner kinetic flotation tests were carried out to optimize the process flowsheet and refine the reagent scheme.
Figure 2: Mass pull versus Recovery curves for preliminary rougher tests, confirming similar response to 2018 SGS baseline
Process flowsheet and reagent scheme optimization
Preliminary rougher flotation testing revealed that the Copperwood ore body contains bimodal mineralogical fractions: a fast-floating component that responds quickly to flotation and a slower-floating bulk fraction with more protracted kinetics. As shown in Figure 3, the fast-floating material generates a high-grade initial froth characterized by well-loaded bubbles (Panel A). However, after approximately 7 minutes of flotation time, froth quality deteriorates, becoming brittle and poorly loaded (Panel B). While metallurgical upgrading continues beyond this point, the recovery rate slows significantly, requiring extended flotation residence times. An assay-by-size analysis of tailings confirmed the presence of a low-grade ultrafine (sub 20µm) fraction, likely introduced through overgrinding in the previous single-stage milling setup.
Figure 3: Initial high-grade froth (panel A) and depleted brittle froth (panel B) after 7 minutes of flotation
Adoption of an MF2 circuit
To address these challenges, the flowsheet was revised to adopt a mill-float-mill-float (MF2) configuration, incorporating a de-sliming stage between the primary and secondary milling circuits (see Figure 4). This approach, widely established in metallurgical operations, helps mitigate overgrinding and the associated fines losses. Grind optimization test work determined the optimal parameters as:
Primary circuit grind P80: 80 µm
Secondary circuit grind P80: 38 µm
Bench-scale de-sliming was performed via wet screening at 38 µm, while later pilot-scale testing employed cyclone separation.
Figure 4: Revised front-end of the circuit showing desliming and mill-float-mill-float (MF2) configuration
De-sliming Efficiency and Mass Rejection
Test work demonstrated a strong linear relationship (R² = 0.691) between the mass fraction and copper grade in the de-slime fraction (see Figure 5). At a target grade of 0.3% Cu in the de-slime product, up to 25% of the mass of the primary rougher tailings can be rejected ahead of secondary milling. This not only reduces the size requirement for the secondary milling circuit but also prevents overgrinding and associated fine particle losses.
Figure 5: Linear relationship between deslime mass fraction and Cu grade of deslime fraction
Comminution Circuit Power Saving
The 2023 FSU contemplated an MF1 circuit comprising a 5.5 MW SAG mill and a 5.5 MW ball mill in closed circuit with cyclones, producing a flotation feed P80 of 45 µm and drawing 4.8 and 5.0 MW respectively. This configuration included a single rougher stage with 50 minutes of residence time, followed by a 2.2 MW regrind mill drawing 1.9 MW. In total, the circuit incorporated 13.2 MW of installed comminution power, with a projected power draw of 11.7 MW.
Under the new configuration, designed for a coarser primary grind target of 80 µm, DRA’s mill sizing indicates that a 3.8 MW SAG mill and 3.8 MW ball mill represent the optimal setup for the primary milling circuit, with projected power draws of 3.3 MW and 3.4 MW, respectively. Following the de-slime step, a new secondary milling circuit (3.0 MW installed, 2.0 MW power draw) will deliver the secondary grind target of 38 µm. In addition, a 1.5 MW regrind mill (1.4 MW projected draw) will regrind the rougher concentrate to a target P80 of 10 µm.
Altogether, the revised comminution circuit is projected to draw just 10.1 MW, representing between 10% and 13.7% reduction in power requirements compared with the 2023 FSU design—highlighting both improved operating efficiency and the potential for meaningful cost and energy savings.
Reagent Scheme Optimization
In parallel with flowsheet improvements, the flotation reagent suite was also optimized to improve both performance and cost-efficiency (see Table 2). Key changes include:
Replacement of SIBX collector with PAX
Substitution of A-249 promoter with A-407
Adjust pH and redox potential in the primary rougher conditioning stage, reducing NaHS dosage
Elimination of Polypropylene glycol methyl ether (D-250)
Elimination of n-Dodecyl Mercaptan (NDM)
In the 2023 FSU, flotation reagents accounted for $6.50 per tonne milled in operating costs. The revised 2025 reagent suite is projected to reduce this cost to $5.49 per tonne (at current reagent pricing), yielding a savings of up to $1.00 per tonne. In addition to the cost reduction, the updated reagent scheme offers a substantially improved environmental, health, and safety (EH&S) profile.
Table 2: Reagent regimes and contribution to operating costs (updated to 2025 reagent pricing)
Enhanced Rougher Recovery
Figure 6 presents the mass pull versus recovery curves from selected MF2 bench-scale flotation tests, shown alongside the 2018 campaign baselines from Test F19 and Test F71. A notable step-change is observed at approximately 20% mass pull, which reflects the transition between flotation products from the primary and secondary milling stages. Data points below the 20% mass pull correspond to the primary milling circuit and primary rougher flotation, while those above 20% represents recovery contributions from the secondary milling circuit and roughers.
Figure 6: Mass pull versus Recovery curves for MF2 bench tests compared with 2018 SGS baseline
Figure 7 presents linear grade-recovery curves fitted to the secondary rougher flotation data from both the 2018 and 2025 test programs. The fitted models yield R2 values of 0.97 for both datasets, indicating a strong correlation between grade and recovery in the secondary rougher stage. The shaded regions represent the 95% confidence intervals for each regression line.
Figure 7: Fitted Grade-Recovery curves for 2025 MF2 rougher tests compared with 2018 SGS baseline
At the target rougher concentrate grade of 4.5% copper, the updated reagent scheme and MF2 circuit achieved a rougher recovery of up to 92.4%, compared to 89.7% in the 2018 baseline. Importantly, the non-overlapping confidence intervals confirm that this improvement is statistically significant, underscoring the technical merit of the revised flowsheet and reagent strategy.
Consistent Cleaner Recovery
Bench-scale cleaner optimisation focussed on refining reagent addition rates and evaluating the impact of regrind size on performance. Figure 8 illustrates the grade versus recovery curves from selected 2025 cleaner kinetic tests, presented alongside historical data from the 2018 campaign – specifically Test F55 and Test F73.
Test F55 represented the best cleaner performance under conditions of natural pH and a regrind P80 of 14µm, which was applied during most of the 2018 test work.
Test F73 served as the baseline cleaner performance incorporating stagewise NaHS dosages exceeding 2,600 g/t.
As shown in Figure 8, 2025 cleaner recoveries were comparable to or exceeded those achieved in the 2018 baseline tests, indicating strong and reliable downstream circuit performance. Notably, Test C48, conducted at a regrind P80 of 10µm using the revised 2025 reagent scheme (as detailed in Table 2), delivered cleaner performance outperforming Test F55 and comparable to Test F73.
Figure 8: Grade versus Recovery curves for 2025 cleaner kinetic tests compared with 2018 SGS baseline
Underscored by locked cycle tests
While kinetic rate flotation tests, used in the earlier rougher and cleaner optimization work, provide valuable insights, they do not account for the circulating loads that occur in an operating flotation circuit. To better approximate real operating conditions, locked-cycle tests are employed, offering a more realistic measure of recovery, grade, and concentrate mass pull.
Using the test C48 conditions as a basis—but incorporating closed-circuit cleaners—a locked-cycle test (C52) was completed, with results summarized in Table 3. For comparison, the average locked-cycle test results for the Copperwood Main Zone from the 2023 FSU (see Table 13.29) are also shown.
At a comparable copper recovery (85.4% vs. 85.8%), the locked-cycle test delivered a significant improvement in concentrate grade—32.9% Cu compared with 25.1% Cu. This shift in the grade-recovery curve is primarily attributed to a lower mass pull to concentrate (5.9% vs. 7.3%).
Table 3: Results of locked cycle test C52 using test C37 configuration and closed-circuit cleaners
Because test C48 served as the basis for the C52 locked-cycle test, it is reasonable to conclude that the shape of the grade-recovery curve is maintained, but shifted to the right as a result of the closed cleaner circuit. The grade-recovery curve for test C48 is shown in Figure 9, together with the balanced grade-recovery curve obtained from locked-cycle test 52. At a concentrate grade of 33.1% Cu, the open circuit test C48 would have yielded a recovery of 74.9%; however, the balanced locked-cycle test achieved 84.9%, representing a positive shift of +10.0%.
By moving along the locked-cycle grade-recovery curve to a reduced concentrate grade of 25% Cu, it is projected that the circuit will yield a recovery of 85.8% Cu. This correlates well with the 2023 FSU average locked-cycle test results for the Copperwood Main Zone of 85.8% recovery at 25.1% Cu grade. These results underscore the robustness of the redesigned flowsheet and its ability to achieve comparable outcomes to the 2023 FSU, but at substantially lower operating costs.
Positive Pilot-scale Results for Ultrafine Flotation Technology
Ultrafine flotation technology plays a critical role in recovering very fine particles—typically those smaller than 20 µm—that are often lost in conventional flotation circuits. QEMSCAN analysis of Copperwood ore confirmed that the liberation size of the copper mineralization is sub-20 µm, supporting the historical process design which incorporated a regrind P80 of 14 µm.
The primary objective of evaluating ultrafine flotation at Copperwood is to enhance the grade-recovery curve, a key driver of project economics. In addition, this technology offers potential secondary benefits, including reduced processing plant footprint and a lower environmental impact, aligning with the project’s sustainability objectives.
Figure 9: Shift in grade-recovery curve from open circuit to closed circuit locked cycle test
The Jameson Cell, developed by Glencore Technology, was selected for pilot testing. It addresses many of the design and performance limitations of conventional flotation and column cells. With over 500 installations worldwide—including more than 140 in copper circuits—the Jameson Cell is a proven solution, extensively documented in technical literature and industrial case studies.
Following the confirmation of the MF2 circuit configuration and optimized reagent regime through bench-scale testing, the program advanced to the pilot application of ultrafine flotation using a Jameson L150 laboratory unit at Base Met Labs.
Pilot-scale flotation tests, using 40kg batches from the composite sample, were conducted on both the primary and secondary rougher applications, as well as the open circuit cleaner application. Prior to each test, a representative sample was extracted from the conditioning tank post-reagent conditioning and subjected to a three-stage dilution test—a standard Glencore Technology method using a D12 Denver bench-top flotation cell. This approach is designed to mimic Jameson Cell conditions and allows for direct comparison of performance and scale-up parameters.
The mass pull versus recovery curve from a primary rougher test, together with a grade versus recovery curve from the corresponding dilution test, is plotted alongside the benchmark MF2 Test R23R in Figure 10. These results demonstrated a distinct and favorable shift in flotation performance with the use of a Jameson Cell, indicating improved kinetics and recovery potential and affirming the value of ultrafine flotation technology in the Copperwood flowsheet.
Table 4 presents a comparative analysis of bench-scale flotation performance achieved during the 2025 testing campaign using conventional flotation cells, versus a configuration utilizing Jameson L150 cells in both the primary and secondary rougher applications. In both scenario’s, the test work employed the revised reagent scheme (as detailed in Table 2) and the MF2 flowsheet configuration (see Figure 4 for stream references). Key observations from the data include:
The 95% confidence interval for the Rougher Tail mass fraction (stream C) in the conventional cell baseline is 18.4% to 23.7% with a mean of 21.0%. The Jameson cell configuration yielded a significantly higher rougher tail mass fraction of 32.0%, a statistically significant difference. This suggests improved selectivity and reduced entrainment in the rougher circuit using ultrafine flotation technology.
Figure 10: Comparison of L150 Jameson cell mass pull versus recovery curve with 3-stage dilution and 2025 baseline rougher tests.
The copper grade in the conventional Rougher Tail (stream C) had a 95% confidence interval of 0.35% to 0.51% Cu, with a mean of 0.43% Cu. The Jameson cell circuit achieved a lower tailings grade of 0.30% Cu, indicating a statistically significant improvement in rougher recovery.
At a comparable rougher copper recovery of 90%, the Jameson L150 cell produced a rougher concentrate grade of 5.4% Cu, compared to the baseline range of 4.3% to 4.7% Cu (95% confidence interval). This higher concentrate grade is statistically significant and confirms that the ultrafine flotation technology delivers a favorable shift in the rougher grade-recovery curve.
Table 4: Jameson L150 and bench test comparison on rougher performance (see Figure 4 for circuit configuration)
Encouraged by the improved rougher performance, additional Jameson L150 pilot plant tests were conducted under the MF2 circuit configuration, incorporating both the de-slime circuit and revised reagent regime. The combined primary and secondary rougher concentrates were milled in a pilot ISAMill to a P80 of 15 µm before being fed into an L150 Jameson cell operating in open-circuit primary cleaner duty.
The grade-recovery curve for this “Jamo 53” test is shown in Figure 11, alongside the open-circuit and locked-cycle test results presented in Figure 9 for comparison. The results clearly demonstrate that the L150 open-circuit test outperformed the C48 baseline. To predict closed-circuit performance, all pilot plant, three-stage dilution, and locked-cycle test results were provided to Glencore Technologies, who incorporated the data into a closed-circuit simulation model.
Figure 11: Conventional vs Jameson cell performance in open and closed circuit
The modeled grade-recovery curve for the Jameson cleaner circuit (Figure 11) indicates that at a concentrate grade of 25% Cu, the circuit is expected to deliver recoveries of up to 87.6%. Importantly, because the simulation is based on test work completed at an accredited laboratory, Glencore Technologies is prepared to offer a process guarantee for this performance.
Quality Control:
All metallurgical test work was carried out at Base Metallurgical Laboratories Ltd. (Base Met Labs) in Kamloops, British Columbia. The laboratory maintains rigorous internal quality control protocols to ensure the accuracy and reliability of reported data. Base Met Labs participates in the Intertek Global Proficiency Program, conducting regular internal proficiency testing as part of its quality assurance procedures.
Qualified Person Statement:
The information in this news release relating to metallurgical test work results is based on, and fairly reflects, information reviewed by Dr. Aghil Ojaghi, P.Eng., Senior Process Engineer at DRA for the Copperwood Project and independent from the Company. Dr. Ojaghi is a Qualified Person under National Instrument 43-101 – Standard of Disclosure for Mineral Projects. He is a professional engineer with relevant experience in metallurgical testing and process plant design and has reviewed and approved the technical content as it pertains to his area of responsibility. Dr. Ojaghi consents to the inclusion of this information in the form and context in which it appears.
The overall technical content of this news release has been reviewed and approved by Dr. Wynand van Dyk, a Qualified Person as defined by NI 43-101. Dr van Dyk is employed as Project Director by Copperwood Resources Inc, a wholly owned subsidiary of Highland Copper.
About Highland Copper Company:
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The Company owns the Copperwood deposit through long-term mineral leases and 34% of the White Pine North project through a joint venture with Kinterra Copper USA LLC. The Company also owns surface rights securing access to the Copperwood deposit and providing space for infrastructure at Copperwood as required. The Company has 736,363,619 common shares issued and outstanding. Its common shares are listed on the TSX Venture Exchange under the symbol “HI” and trade on the OTCQB Venture Market under symbol “HDRSF”.
More information about the Company is available on the Company’s website at www.highlandcopper.com and on SEDAR+ at www.sedarplus.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking statements” and “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These statements include, without limitation, statements with respect to: the potential to advance engineering studies and project optimization at Copperwood, and the anticipated benefits thereof; the completion of lock-cycle variability testing in Q4 2025; completion of process design criteria; and the determination to make a construction decision in 2026. The forward-looking statements are subject to a number of assumptions, including those set out in the technical reports entitled “Feasibility Study Update Copperwood Project Michigan, USA” and the Company’s annual information form for the year ended June 30, 2024 (the “AIF”). These underlying assumptions may prove to be incorrect. Important factors that could materially impact the Company’s expectations include: the results of metallurgical testing in laboratory environments may not be repeated in industrial settings; reagent prices are subject to fluctuations, which may reduce or eliminate expected reagent cost savings; new flow designs may change capital cost requirements, which have not yet been estimated; completion of remaining work programs may not lead to a construction decision; changes in project parameters as plans continue to be refined; availability of services, materials and skilled labour to complete work programs, testing and drilling; effects of regulation by governmental agencies; the fact that permit extensions, renewals and amendments are subject to regulatory approvals, which may be conditioned, delayed or denied; advancement to a construction decision at Copperwood is subject to additional studies, for which the Company will require additional funds, which may not be available on a timely basis and accordingly could delay a construction decision; the Company will be required to repay the loan facility from Kinterra in July, 2026, or will have its interest at White Pine diluted; unexpected cost increases, which could include significant increases in estimated capital and operating costs and the effects of inflation; fluctuations in metal prices and currency exchange rates; general market and industry conditions, the results of baseline studies and test work may result in unforeseen issues which could delay or hamper advancement of the projects, and the other risks set out in the Company’s public disclosure documents, including the AIF, filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on forward looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information or media requests, please contact:
Barry O’Shea, CEO
Email: info@highlandcopper.com
Website: www.highlandcopper.com
https://www.highlandcopper.com/news/highland-copper-announces-updated-process-plant-flow-sheet-demonstrating-increased-copper-recoveries-of-87-6-and-reduced-processing-costs/
Oleblue
1年前
Highland Copper Announces Completion Of Copperwood Metallurgical Drilling And Continued Progress On Detailed Engineering
Vancouver, Canada, May 14, 2025 – Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) is pleased to provide an update on recent developments at its 100%-owned Copperwood Project (“Copperwood”) and the White Pine North Project (“White Pine”), a joint venture with Kinterra Copper USA LLC (“Kinterra”).
Highland continues to advance Copperwood toward a near-term construction decision through a phased approach to detailed engineering which is designed to optimize and de-risk the project. Particularly, the metallurgical drill program was successfully completed with samples now being tested. At White Pine, Kinterra has made steady progress on environmental baselining and engineering. Both projects remain wellsequenced and highly leveraged to the copper price, offering a strong copper production profile in the supportive jurisdiction of Michigan’s Upper Peninsula.
Copperwood 2025 Program and Catalysts
2025 Site Work: During 2025, the Company will complete its remaining obligations related to its Wetlands and Streams Permit. This includes landscaping and tree planting on its newly created wetlands, in addition to an off-site stream mitigation project. The work continues to build Highland’s operating presence, demonstrates strong environmental stewardship and strengthens relationships with local authorities and stakeholders. The 2025 work program is the final site work required in advance of aconstruction decision. This implies a lower site expenditure rate following the completion of this workuntil a full construction decision is made.
Detailed Engineering: In January 2025, Highland announced it awarded Front-End Engineering and Design contracts for both the mine engineering and process plant engineering to DRA Global. Phase 1 of Copperwood engineering is underway and entails a review of historic project data with a goal to finalize key project design criteria. This phase has highlighted several opportunities and risks that are currently being assessed through trade-off studies. Highland anticipates concluding Phase 1 by Q3 2025, at whichpoint it anticipates transitioning into Phase 2 of its engineering program. The goal of Phase 2 is to bring Copperwood to approximately 35% engineered by early 2026. This work is critical to de-risk and optimize the Copperwood project, preparing it for a project financing and a construction decision.
Metallurgical Test Work: In January 2025, Highland initiated a drilling program aimed at extracting samples for advanced metallurgical testing. Highland is pleased to announce that the drill program was successfully completed on time and below budget. Approximately 400 kilograms of core samples have been characterised and sent to our laboratory partner. The test program is focused on the application of ultra-fine flotation technology, which has the potential to enhance the grade-recovery curve, resulting inimproved project economics. This technology is also capable of delivering cost savings by reducing the physical footprint of the processing plant and further minimizing the project’s environmental impact. Highland anticipates announcing metallurgical test results in Q3 2025.
Copperwood Project Support
Highland is particularly pleased to highlight recent support received for the Copperwood project at federal, state, county and municipal levels. As Highland Copper continues to present the merits of the Copperwood project to the Michigan Senate Appropriations Committee, it is anticipated that this resounding support will play a role in final approval of the proposed $50 million grant.
U.S. Representative Bergman: In light of the federal conversation around critical mineral strategy in the US, Representative Bergman issued a letter of support for the Copperwood Project, stating “Supporting the Copperwood Mine project means standing up for Michigan workers, strengthening our industries, and securing our Nation’s economic future. By mining copper here in Michigan, we can lessen our vulnerability to global supply chain disruptions, reduce our reliance on foreign adversaries, and create hundreds of good-paying jobs that will directly benefit hardworking Michiganders.”
Michigan Upper Peninsula Delegation: The Upper Peninsula delegation, including Representative Prestin, Representative Bohnak, Representative Greg Markkanen and Senator Ed McBroom, collectively penned an op-ed published in the Detroit News titled “The Solution to America’s Copper Shortage is inMichigan”. In the letter, they stated “The Copperwood project is a generational opportunity for Michigan to capitalize on its extensive mining experience and sustainable practices to reduce U.S. dependence on foreign sources of minerals and mineral processing and spur the development of an end-to-end,advanced manufacturing supply chain based entirely in Michigan”.
Continued Local Support in West Upper Peninsula: As announced in February 2025, the Gogebic County Board of Commissioners, the Wakefield Township and the Ironwood Township issued renewedresolutions of support for the Copperwood project. “The resolution that the Gogebic County Boardadopted supports the Copperwood Mine Project, knowing that they are transparent in their work and developing safe and accountable mining,” said Dan Siirila, Chairman of the Gogebic County Board of Commissioners. “The County Board realizes the critical importance of the approval of the grant forenergy, infrastructure for roads and broadband. This mine will give Gogebic County’s economy the boostthat it so needs and deserves.”
White Pine Program and Catalysts
While Highland focuses on the Copperwood project, its joint venture partner, Kinterra, is applying its technical and financial strength to the White Pine project.
Resource Update: The drilling database has been updated with 2024 assay results, drill hole logs, and QA/QC of historical data. The mineral resource update is underway, incorporating a review of geological models, QA/QC procedures, sampling methods, specific gravity analysis, and resource estimation criteria, A geophysical survey completed in Q1 will support an updated structural model, currently inprogress as part of the broader resource model update.
Test work and Engineering Trade-offs: Phase 1 of the metallurgical test work program has been completed, with results informing flow sheet development and comminution trade-off studies. Geotechnical rock strength testing has also been finalized, with the data incorporated into geotechnical modeling to define key mine design criteria. In addition, trade-off studies evaluating site locations, powersupply options, and tailings deposition methods have been initiated.
Environmental Baselining: Environmental baseline studies will continue through 2025 and include geochemistry characterization, additional flora, fauna, and threatened and endangered species surveys and wetland and streams characterization work. Quarterly groundwater and surface water sampling willalso continue in 2025.
Barry O’Shea, President and CEO of Highland Copper, commented: “We’re very pleased with the steady progress at Copperwood as we continue to de-risk the project and move closer to a construction decision.The work completed to date, both in engineering and metallurgical testing, has reinforced our confidence in the technical and economic potential of the project. We’re also encouraged by the continued support from federal, state and local authorities, which reflects the strong regional alignment behind responsible development. At the same time, our joint venture at White Pine is advancing on multiple fronts, and we look forward to the upcoming resource update as an important milestone in the project’s evolution. Together, these assets form the foundation of a compelling growth pipeline in a region that’s both supportive and strategically important for the future of copper production in North America.”
Qualified Person Statement
The technical information in this news release has been reviewed and approved by Dr. Wynand van Dyk, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Highland Copper Company
Highland Copper Company Inc. is a Canadian company focused on exploring and developing copperprojects in the Upper Peninsula of Michigan, U.S.A. The Company owns the Copperwood deposit throughlong-term mineral leases and 34% of the White Pine North project through a joint venture with KinterraCopper USA LLC. The Company also owns surface rights securing access to the Copperwood deposit andproviding space for infrastructure at Copperwood as required. The Company has 736,363,619 commonshares issued and outstanding. Its common shares are listed on the TSX Venture Exchange under the symbol"HI" and trade on the OTCQB Venture Market under symbol "HDRSF".
More information about the Company is available on the Company’s website at www.highlandcopper.com and on SEDAR+ at www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking
Information This news release contains “forward-looking statements” and “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. These statements include, without limitation, statements with respect to: (a) anticipated completion of 2025 early site work program at Copperwood and anticipated benefits thereof, including the resulting maintenance of the Wetland and Streams Permit (b) the potential approval of the Michigan Strategic Fund grant (c) the potential to advance engineering studies and project optimization at Copperwood, and the anticipated benefits thereof (d) future metallurgical, geotechnical and hydrogeological testing, baseline studies and drilling at White Pine; and (e) the potential for further resource definition and completion of a feasibility study at White Pine. The forward-looking statements are subject to a number of assumptions, including those setout in the technical reports entitled “Feasibility Study Update Copperwood Project Michigan, USA” and the Company’s annual information form for the year ended June 30, 2024 (the “AIF”). These underlying assumptions may prove to be incorrect. Important factors that could materially impact the Company's expectations include: changes in project parameters as plans continue to be refined; availability of services, materials and skilled labour to complete work programs, testing and drilling; effects of regulation by governmental agencies; the fact that permit extensions, renewals and amendments are subject to regulatory approvals, which may be conditioned, delayed or denied; there is no assurance that the Michigan State legislature will approve the Michigan State Strategic Funds grant, and any such approval may be subject to conditions; advancement to a construction decision at Copperwood is subject to additional studies, for which the Company will require additional funds, which may not be available on a timely basis and accordingly could delay a construction decision; the Company will be required to repay the loan facility from Kinterra in July, 2026, or will have its interest at White Pine diluted; unexpected cost increases, which could include significant increases in estimated capital and operating costs and the effects of inflation; fluctuations in metal prices and currency exchange rates; general market and industry conditions, the results of baseline studies and test work may result in unforeseen issues which could delay or hamper advancement of the projects, the results of drill programs may not result in identification or confirmation of resources, the results of work programs at White Pine may not warrant progressing to a feasibility study, and the other risks set out in the Company’s public disclosure documents, including the AIF, filed on SEDARPlus. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on forward looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information or media requests, please contact:
Highland Copper
Barry O’Shea, CEO
Email: info@highlandcopper.com
Website: www.highlandcopper.com
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