Kinterra Capital Affiliate Acquires Majority Interest in White Pine North, a Large-Scale Copper Project in Michigan

Kinterra Capital Corp., a private equity firm that invests in and develops key critical minerals assets and strategic infrastructure necessary for the energy transition, today announced that Kinterra Copper USA LLC (“Kinterra Copper” or the “Company”), a Kinterra affiliate, has entered into a joint venture with Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland”) to acquire a 66% interest in the White Pine North copper project (“White Pine North”), located in Michigan, USA.

White Pine North is one of the largest independent copper development projects in the United States. Located in a Tier 1 jurisdiction that offers regulatory certainty, White Pine North contains 5.7 billion lbs of copper and has an US$821 million net present value with a 22-year mine life¹. In addition, White Pine North benefits from a significant drillhole database and a well defined resource, proximity to existing infrastructure, low holding costs, and offers significant expansion opportunities.

The transaction provides Kinterra Copper with a controlling interest in the joint venture with majority board representation, allowing it to leverage its deep technical expertise to de-risk and optimize the project. Key value creation initiatives will focus on project optimization, procuring key project permits including progressing baseline studies, advancing the project through detailed engineering and building strong stakeholder support. Highland’s participation in the joint venture brings extensive experience in the Upper Peninsula region of Michigan and a history of strong community relationships.

“We are very excited to partner with Highland on the White Pine North copper project,” said Cheryl Brandon, Co-Founder and Co-Managing Partner of Kinterra Capital. “White Pine North adds another high-quality asset that will contribute to the energy transition to Kinterra’s portfolio. By applying our deep technical expertise, our team has identified numerous initiatives that will drive significant value creation for all project stakeholders. We look forward to progressing White Pine North in Michigan, a state that has made a demonstrated commitment to electrification.”

According to S&P Global, during peak demand years for energy transition materials, the United States will need to import the majority of the copper it requires. “Given that White Pine North will feed the structural deficit in copper from a domestic source in the United States at scale, we believe the asset holds significant strategic value, making it a compelling addition to Kinterra’s portfolio,” added Kamal Toor, Co-Founder and Co-Managing Partner of Kinterra Capital.