Highland Copper Initiates Copperwood Site Activity and Provides Project Update - Seite 2

“Initiating work at the Copperwood site is a significant step for Highland Copper for a number of reasons. Critically, we completed key activities required to meet our State permit obligations. Moreover, the work program allowed us to build out our local team in the Upper Peninsula and engage several key local contractors, beginning to drive economic benefits into the region. As well, we increased engagement with key local stakeholders and State authorities and have continued to build regional support for the development of Copperwood. We look forward progressing Copperwood along the development path,” stated Interim CEO Barry O’Shea.

Community Relations

While initiating on-the-ground activity, Highland has kept all key stakeholders appropriately informed. This includes periodic stakeholder meetings to deliver project updates. As a demonstration of support, a range of local authorities have provided resolutions of support for the Copperwood project. This includes resolutions from Gogebic County (where Copperwood is located), Ontonagon County, the City of Ironwood, the City of Bessemer, the townships of Ironwood, Bergland, Carp Lake and Erwin, as well as the Western Upper Peninsula Planning and Development Region Commission, just to name a few. Additionally, Highland has interfaced with key State authorities, particularly EGLE, to ensure the site work has been performed in accordance with Highland’s permit obligations and State standards.

“It is important to Highland that we are aligned to local communities and State authorities. Since joining Highland, I have had the opportunity to attend numerous meetings of local cities, townships and county boards. I have been pleased to see the level of engagement and support. We are also continuing to develop a healthy working relationship at the State level to ensure we operate to the standards expected by the State,” said Mike Foley, Copperwood Site Manager.

Copperwood Regional Economic Impact

The western Upper Peninsula has a rich mining history. Since mining left the region, its economic strength has diminished in the last several decades. Highland has commissioned a third party to prepare a report evaluating the potential regional economic contribution of developing and operating the Copperwood project. While Copperwood is expected to generate significant direct investment and employment, there is also expected to be a considerable indirect economic contribution. The report is expected to be completed in the near term and Highland will provide an update when the report is published.