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VANCOUVER, British Columbia, Sept. 16, 2025 (GLOBE NEWSWIRE) — Highland Copper Company Inc. (TSXV: HI; OTCQB: HDRSF) (“Highland” or the “Company”) is pleased to announce it has received a non-binding Letter of Interest (“LOI”) from the Export-Import Bank of the United States (“EXIM”) for potential debt financing of up to US$250 million to support development of its fully permitted Copperwood Project in the Upper Peninsula of Michigan. The LOI was issued under EXIM’s Make More in America Initiative and may also be eligible under EXIM’s China and Transformational Exports Program. EXIM is the official export credit agency of the United States federal government.
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Copperwood is one of few U.S. copper projects with all major permits in place and a completed feasibility study. Highland is advancing detailed engineering to position Copperwood for a near-term construction decision. EXIM’s potential participation would help fund a significant portion of the estimated US$400 million initial capital required to build and commission the mine.
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Barry O’Shea, CEO of Highland Copper, commented: “We are thankful to receive this Letter of Interest from EXIM, demonstrating Copperwood’s significance at a federal level. Copperwood is strategically positioned to strengthen the U.S. supply chain for critical minerals. Copperwood will provide a reliable domestic source of copper, support Michigan’s economy and operate responsibly, aligned to Michigan’s stringent environmental standards.”
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The LOI is non-binding, and its issuance does not represent a financing commitment from EXIM, nor is it an explicit indication of the financial or commercial viability of the project. Key details and next steps outlined in the letter include:
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- Potential Debt Financing: Up to US$250,000,000 of the project’s costs.
- Repayment Term: A potential repayment tenor of 11 years.
- Next Steps & Conditions: Upon submission of a formal financing application, EXIM will conduct all required due diligence to assess the potential for a Final Commitment. Any such, commitment will be contingent on meeting EXIM’s underwriting criteria, completing the authorization process, and finalizing all terms and conditions.
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About Highland Copper Company
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Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper projects in the Upper Peninsula of Michigan, U.S.A. The Company owns the Copperwood deposit through long-term mineral leases and 34% of the White Pine North project through a joint venture with Kinterra Copper USA LLC. The Company also owns surface rights securing access to the Copperwood deposit and providing space for infrastructure at Copperwood as required. The Company has 736,363,619 common shares issued and outstanding. Its common shares are listed on the TSX Venture Exchange under the symbol “HI” and trade on the OTCQB Venture Market under symbol “HDRSF”.
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