Highland Copper Selects G Mining for Preliminary Economic Evaluation of Michigan Project, The Canadian Business Journal

Longueuil, Quebec, October 19, 2022 (GLOBE NEWSWIRE) — Highland Copper Company Inc. (TSXV: HI, OTCQB: HDRSF) (“Highland Copper” or “Highland” or the “Company”) is a We have selected G-Mining Services (“G-Mining”) to prepare a preliminary economic evaluation (PEA) for the joint development scenario of the Wood and White Pine North Project.

Denis Miville-Deschênes, President and CEO, said: It has the potential to create larger, longer-lived projects with significant development and operational synergies and a minimal environmental footprint. We look forward to working with the State of Michigan and key stakeholders as they define the project and its benefits. “

Both White Pine North and Copperwood have significant measured and indicated copper resources of £3.2 billion (133.4 million tons at 1.07% copper grade) and £1.7 billion (49.3 million tons at 1.54% copper grade) respectively. increase. The estimated categories are also substantial at £2.2 billion for White Pine North (97.2 million tons at 1.03% copper grade) and £1.3 billion for Copperwood (51.5 million tons at 1.16% copper grade). The Copperwood project has a feasibility study dated June 14, 2018 posted to SEDAR on July 31, 2018, and the White Pine North project has a feasibility study posted to SEDAR on November 7, 2019. There is a PEA dated September 22, 2019.¹Both studies envisioned independent projects and did not consider potential synergies from combining development and operational activities.

The projects are approximately 60 km apart and share many similarities in deposit types, mining methods and processing. This gives Highland a great deal of choice in how their assets are developed. The PEA, which G Mining is conducting in a combined scenario, will explore the possibility of transporting ore by rail from Copperwood to a central processing facility to be built at White Pine North. This scenario should have a lot of synergy as some buildings and infrastructure are shared. Therefore, environmental footprint and impact are minimized when projects are developed collaboratively.

PEA will consider removing significant infrastructure at Copperwood, particularly the processing and tailings storage facilities defined in the standalone Copperwood Feasibility Study. Instead, PEA will consider building a single processing facility at White Pine. The White Pine Site is an old mining brownfield site that operated for approximately 50 years until the mid-1990s, with significant existing infrastructure including a tailings storage facility that the project has access to. Additionally, the White Pine North project is in close proximity to gas distribution lines, available power from the grid, water supply, and road and rail access, although the railroad will need to be refurbished.

The combined scenario also evaluates any identified potential synergies arising from the joint operation of the two mines. This assessment includes the impact of central processing facilities, centralized inventory, shared technical services, and the broader impact of shared administrative expenses. This is expected to result in significant savings over the life of the operation.

PEA presents a combined scenario, but management expects that there will be staging of ore deliveries as construction of the Copperwood project is permitted and short timelines for mine development and ore deliveries. Delivery of White Pine North ore is subject to permits and development timelines.

In support of PEA, metallurgical testing and other significant engineering work is being carried out to define the plant design required to process mixed ores in a single processing line. The applicability of beneficiation technology is also being explored. We will provide updates as metallurgical and other engineering test results become available.

^{1. White Pine North PEA includes an economic analysis of mineral resources. Readers are cautioned that mineral resources that are not mineral reserves have not demonstrated economic viability.}

qualified person

The technical information in this press release has been reviewed and approved by our President and CEO, Denis Miville-Dechenes (P Eng.). Mr. Miville-Dechenes is qualified under Canadian National Instrument 43-101.

About Hyland

Highland Copper Company Inc. is a Canadian company focused on the exploration and development of copper projects in Michigan’s Upper Peninsula, USA. Information about the company is available on SEDAR at: www.sedar.com You can find it on our website www.highlandcopper.com.

Notes

This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. These include, but are not limited to, statements regarding: (b) anticipated synergies and timing of completion recognized by the PEA for the combined development scenario of the Copperwood and White Pine projects; (c) the Company’s plans for the development of the projects on an individual and potential combined basis; Resources identified in our mineral projects. Such forward-looking statements are based on a number of assumptions and may prove to be incorrect. Key assumptions about each development project are included in the Feasibility Study (for Copperwood) and PEA (for White Pine). Significant factors that may materially affect our forecasts include: including uncertainties in interpretation of drilling results and other geological and geotechnical data, interpretation of actual exploration results, metallurgical properties of mineralization, and changes in project parameters as plans continue to be refined , the uncertainties associated with reserve and resource estimates; the availability of skilled labor; the impact of government agency regulations; Unexpected cost increases. This could include significant increases in estimated capital and operating costs, as well as the impact of inflation. Fluctuations in metal prices and exchange rates. general market and industry conditions; All forward-looking statements in this press release are based on information available to us as of the date of this release, and we do not update any forward-looking statements except as required by law. shall have no obligations.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

For more information, please contact:
Denis Miville-Deschênes, President and CEO
Phone: +1.450.677.2455
Email: [email protected]

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