LONGUEUIL, QUEBEC--(Marketwired - Jun 29, 2015) - Highland Copper Company Inc. (TSX VENTURE:HI) ("Highland" or the "Company") reports the filing of a technical report in accordance with National Instrument 43-101 supporting the results of the mineral resource estimate for the Copperwood Copper Project announced by Highland in its May 11, 2015 news release. The independent technical report entitled "NI 43-101 Technical Report on the Copperwood Copper Project, Michigan USA" has an effective date of April 15, 2015. It is available on SEDAR (www.sedar.com) and on the website of Highland (www.highlandcopper.com).
It has been estimated that the Copperwood Project contains 1.06 billion pounds of copper and 4.2 million ounces of silver in the measured and indicated resource category (29.1 million tonnes grading an average of 1.65% copper and 4.51g/t silver) and 1.1 billion pounds of copper and 2.7 million ounces of silver in the inferred category (40.5 million tonnes grading an average of 1.23% copper and 2.10g/t silver). See the May 11, 2015 news release and technical report for more information.
Highland is in the process of assessing a number of options in the development of the Copperwood, White Pine North and Keweenaw projects. Highland aims to maximize synergies among these projects, minimizing development costs and reducing overall environmental impact. The preferred options will be detailed in a pre-feasibility study scheduled to be published later in the year.
Highland also plans to conduct additional metallurgical and geotechnical work on the Copperwood deposit and drill in-fill holes in the higher-grade zones of the Satellite deposits, subject to the availability of necessary funding. The Copperwood Project was acquired by Highland in 2014 and is fully permitted.
National Instrument 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Carlos Bertoni, P.Geo, Executive Vice President, Project Development of Highland Copper, and a Qualified Person.
Réjean Sirois, ing., of G Mining Services Inc. is the qualified person responsible for the mineral resource estimate reported herein and author of the technical report.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The Copperwood mineral resource estimate include inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.
About Highland
Highland Copper Company Inc. is a Canadian exploration company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. Highland has 129,542,192 common shares issued and outstanding listed on the TSXV under the symbol 'HI'. Additional information about Highland is available on the Company's website at www.highlandcopper.com and on SEDAR at www.sedar.com.
Forward looking information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action, future price of metals; currency exchange rate fluctuations; the timing and costs of future activities and the results thereof; and permitting timelines; and governmental and third party approvals. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "aims", "scheduled", "estimates", "plans", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will occur" or "be achieved". In making the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the acquisition of the White Pine Project and of a 65% interest in the Keweenaw project will be completed; that the Company will have sufficient funds to carry out the exploration and development plans and objectives concerning the projects; that the current price and demand for copper will be sustained or will improve; that all necessary governmental approvals for the planned acquisition, exploration and development of the projects will be obtained in a timely manner and on acceptable terms; and that general business and economic conditions will not change in a materially adverse manner.
Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; risks related to the Company`s ability to meet the contractual conditions to acquire the White Pine and Keweenaw projects; risks related to changes in the assumptions used in the mineral resource estimate; environmental risks, including environmental matters related to the former White Pine mine; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; currency fluctuations; as well as those factors discussed in the Company's public disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Note to US Investors
This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms "mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category or converted into reserves.
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.