Highland Announces New Director Appointment, Grant of Options and Extension to Mining Venture Agreement
LONGUEUIL, QUEBEC--(Marketwired - Nov 23, 2015) - Highland Copper Company Inc. (TSX VENTURE:HI) (the "Company" or "Highland") is pleased to announce the appointment of Mr. Luc Lessard to the Board of Directors of the Company.
Luc Lessard is a mining engineer with more than 25 years of experience designing, building and operating mines. He is Senior Vice-President, Technical Services of Osisko Gold Royalties Ltd. ("Osisko") and President, Chief Executive Officer and a director of Falco Resources Ltd. He also sits on the board of directors of two other publicly listed companies. Mr. Lessard was previously Chief Operating Officer of the Canadian Malartic Partnership (owned jointly by Agnico Eagle and Yamana), and prior to that was the Chief Operating Officer and Senior Vice President of Engineering and Construction for Osisko Mining Corp. where he was responsible for the design, construction and commissioning of the world class Canadian Malartic gold mine. Prior to Osisko Mining, Luc was Vice President of Engineering and Construction for IAMGOLD and General Manager, Projects for Cambior Inc. During his career, Luc has worked on 11 open pit and underground mine builds. As part of the transaction with Osisko announced on December 16, 2014, Osisko was entitled to nominate one director to the Board of Highland. Mr. Lessard is that nominee.
"We are delighted to welcome Luc to the Board as his extensive experience in building and operating mines will be extremely valuable for the Company" said David Fennell, Chairman of Highland.
In connection with Mr. Lessard's appointment as a new director, the Board of Directors of the Company granted Mr. Lessard 200,000 stock options pursuant to the Company's stock option plan. The options are exercisable for five years at $0.13 per share, subject to the acceptance of the TSX Venture Exchange. The options will vest over a period of two years.
Amendment to Agreement to Acquire the Keweenaw Project in Michigan
Highland is also pleased to announce the execution of an amendment to the Mining Venture Agreement with BRP LLC which extends the deadline by which Highland must deliver a feasibility study to BRP in order to earn a 65% interest in the Keweenaw project from October 26, 2015 to December 31, 2017. As consideration for this extension, the Company has agreed to secure some of the historical shafts located on the Keweenaw region and has submitted a budget for environmental work to be completed as part of the feasibility study. The Keweenaw project includes the 543S and G2 copper deposits.
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., including White Pine North, Copperwood and the Keweenaw projects. More information about Highland and the projects is available on Highland's website at www.highlandcopper.com and on SEDAR at www.sedar.com.
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.
Contact
David Fennell, Executive Chairman
+1.450.677.2455
James Crombie, Interim President & CEO
+1.450.677.2455
info@highlandcopper.com
www.highlandcopper.com