{"success":true,"data":{"pressRelease":{"id":"127428","rtpr_id":"nGNX8T4KJb","ticker":"HI","exchange":"","all_tickers":["HI"],"title":"Highland Copper Announces Final Approval of US$50 Million Grant From the State of Michigan for Copperwood Project","author":"Globe Newswire","published_at":"2026-08-25T17:44:04.106Z","article_body":"VANCOUVER, British Columbia, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Highland Copper\nCompany Inc. (TSXV: HI; OTCQB: HDRSF) (\"Highland Copper\" or “Highland” or\nthe \"Company\") is pleased to announce final approval by the Michigan Strategic\nFund of US$50 million in performance-based grant funding under the Strategic\nSite Readiness Program (\"SSRP\") to support the development of the Company’s\nfully permitted Copperwood Project (\"Copperwood\" or the \"Project\") and related\ninfrastructure improvements in Gogebic County, Michigan. No further State of\nMichigan approvals are required.\n\nThe US$50 million award consists of:\n* US$44,971,691 to Copperwood Resources Inc., a wholly owned subsidiary of\nHighland Copper, to support eligible infrastructure expenditures associated\nwith the development of Copperwood; and\n* US$5,028,309 to the Gogebic County Road Commission to support critical local\ninfrastructure improvements associated with the Project and benefiting the\nbroader region.\nIn addition to the SSRP funding, the Gogebic County Road Commission has\nsecured a US$7,542,463 Transportation Economic Development Fund (\"TEDF\")\nCategory A grant from the Michigan Department of Transportation (\"MDOT\").\nTogether, the TEDF and SSRP grants will provide approximately $12,570,722\nmillion for improvements to County Road 519, improving road safety,\nreliability and access while supporting the broader region.\n\nThe final grant approval followed a thorough review of the Copperwood Project\nand was recommended by the Michigan Economic Development Corporation\n(“MEDC”), reflecting the importance of the Project’s development to the\nUpper Peninsula and the Company’s approach to responsible mining. The\nfunding will be provided through performance-based reimbursements for eligible\nsite readiness and infrastructure expenditures, including roads, power and\ncommunications infrastructure required to advance Copperwood. These\ninvestments are also expected to deliver broader regional benefits through\nimproved transportation, utility infrastructure and cellular and broadband\nconnectivity.\n\nBarry O’Shea, Chief Executive Officer of Highland Copper, commented,\n“Final approval of this US$50 million investment represents an important\nmilestone for Copperwood and a strong endorsement of the Project’s potential\nto deliver meaningful economic benefits to Michigan’s Upper Peninsula while\nmeeting the state’s rigorous environmental standards. We are grateful for\nthe support of the State of Michigan, Gogebic County and the many local\nstakeholders who have supported the Project throughout this process.\n\nThis funding also represents an important milestone in the overall project\nfinancing. With this grant secured, in addition to the Letter of Interest from\nthe U.S. Export Import Bank, Highland’s capacity to finance Copperwood is\nconsiderably strengthened.”\n\nMichigan State Senator Ed McBroom, commented, “The grants today from the\nstate of Michigan are a wonderful investment in communities and infrastructure\nthat is long deserved and overdue. Highland Copper’s willingness and\npatience to leverage this assistance for publicly accessible infrastructure\nalong with its own investment in it and the mine itself, along with all the\nbenefits the mine provides to the region and nation, is a major victory for\nthe UP, Michigan, and the nation.”\n\nFor additional details, see the State of Michigan’s press release regarding\nthe Copperwood Project and related infrastructure investments:\nhttps://www.michiganbusiness.org/press-releases/2026/08/state-of-michigan-celebrates-380-new-jobs-infrastructure-improvements-coming-to-western-upper-peninsula/.\n\nThe grant is subject to the completion of a definitive grant agreement with\nthe MEDC, and is conditional upon the Company providing evidence, on or before\nMarch 31, 2028, that it has obtained commitments satisfactory to the MEDC for\nUS$150,000,000 in additional project financing (the “Project Milestone”).\nOnce the Company demonstrates that it has met the Project Milestone, it will\nbe eligible for reimbursement of expenditures made on or before March 31,\n2033, on site preparation and improvement necessary to support the development\nof the Project. The grant is subject to certain completion milestones,\nincluding that the Company has established a minimum of 380 qualified jobs at\nthe Project.\n\nFor more than a decade, the Copperwood team has worked closely with local and\nregional communities, government representatives and regulatory bodies\nthroughout Michigan’s Upper Peninsula. That engagement has informed the\nProject’s development alongside an extensive permitting and environmental\nreview process, with environmental controls, mitigation measures and wetland\ncreation incorporated into Copperwood’s design and development plans. The\nCopperwood project is supported by more than 22 formal resolutions from\ngovernmental agencies and 10 letters of support from local and regional\nstakeholders, reflecting broad recognition of the long-term economic\nopportunity associated with the responsible development of Copperwood.\n\nWith Copperwood fully permitted and this important state funding now approved,\nthe Project is positioned to bring significant investment and economic\nactivity to the Western Upper Peninsula through local employment, procurement,\nservices and infrastructure development. Copperwood also has the potential to\nestablish a new domestic source of copper and strengthen the U.S. supply chain\nfor a critical mineral essential to energy infrastructure, manufacturing and\neconomic security.\n\nAbout Highland Copper Company\n\nHighland Copper Company Inc. is focused on developing the Copperwood Project\nin the Upper Peninsula of Michigan, U.S.A. The Company also owns surface\nrights securing access to the Copperwood deposit and providing space for\ninfrastructure at Copperwood as required. The Company has 738,188,122 common\nshares issued and outstanding. Its common shares are listed on the TSX Venture\nExchange under the symbol \"HI\" and trade on the OTCQB Venture Market under\nsymbol \"HDRSF\".\n\nMore information about the Company is available on the Company's website at\nwww.highlandcopper.com and on SEDAR+ at www.sedarplus.com.\n\nCautionary Note Regarding Forward-Looking Information\n\nThis news release contains “forward-looking statements” and\n“forward-looking information” (collectively “forward-looking\nstatements”) within the meaning of applicable Canadian securities\nlegislation. These statements include, without limitation, statements related\nto (i) the terms anticipated terms of the grant agreement, which have not yet\nbeen finalized, (ii) projections regarding the jobs anticipated to be created\nat the Copperwood Project, (iii) the potential long term economic benefits of\nthe Copperwood Project for the Western Upper Peninsula and to the US economy\ngenerally. Forward looking statements are subject to a number of assumptions,\nwhich management believes to be reasonable but may prove to be incorrect.\nImportant factors that could materially impact the Company’s expectations\ninclude: the Company and MEDC may not conclude a grant agreement, and the\nterms of the grant agreement may prove to be different than the parties’\ncurrent expectations; whether the Company will be able to identify\nUS$150,000,000 in funding for the Copperwood project; that the Company will be\nable to meet the new jobs condition within the time specified by the grant;\nchanges to the US public policy supporting domestic production of copper;\nopposition by third parties to the Copperwood project; changes in Copperwood\nproject parameters as plans continue to be refined; availability of services,\nmaterials and skilled labour to complete work programs, testing and drilling;\neffects of regulation by governmental agencies; the fact that permit\nextensions, renewals and amendments are subject to regulatory approvals, which\nmay be conditioned, delayed or denied; there is no assurance that the grant\nfunding we have applied for will be available, and any such approval may be\nsubject to conditions; advancement to a construction decision at Copperwood is\nsubject to additional studies, for which the Company will require additional\nfunds, which may not be available on a timely basis and accordingly could\ndelay a construction decision; unexpected cost increases, which could include\nsignificant increases in estimated capital and operating costs and the effects\nof inflation; fluctuations in metal prices and currency exchange rates;\ngeneral market and industry conditions, the results of baseline studies and\ntest work may result in unforeseen issues, any of which could delay or hamper\nadvancement of the project and thereby materially impact the Company’s\nability to draw down on the grant, as well as the other risks set out in the\nCompany’s public disclosure documents, including the AIF, filed on SEDAR+.\nAlthough the Company believes that the assumptions and factors used in\npreparing the forward-looking statements in this news release are reasonable,\nundue reliance should not be placed on forward looking statements. All\nforward-looking statements in this press release are based on information\navailable to the Company as of the date hereof, and the Company undertakes no\nobligation to update forward-looking statements except as required by law.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nFor further information or media requests, please contact:\n\nBarry O'Shea, CEO\nEmail: info@highlandcopper.com\n\nPhone: +1-450-677-2455\nWebsite: www.highlandcopper.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/4b4bd707-9553-436b-ae0d-e0272fab03d3)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX8T4KJb","title":"Highland Copper Announces Final Approval of US$50 Million Grant From the State of Michigan for Copperwood Project","author":"Globe Newswire","ticker":"HI","created":"2026-08-25T17:44:04.106Z","tickers":["HI"],"exchange":"","article_body":"VANCOUVER, British Columbia, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Highland Copper\nCompany Inc. (TSXV: HI; OTCQB: HDRSF) (\"Highland Copper\" or “Highland” or\nthe \"Company\") is pleased to announce final approval by the Michigan Strategic\nFund of US$50 million in performance-based grant funding under the Strategic\nSite Readiness Program (\"SSRP\") to support the development of the Company’s\nfully permitted Copperwood Project (\"Copperwood\" or the \"Project\") and related\ninfrastructure improvements in Gogebic County, Michigan. No further State of\nMichigan approvals are required.\n\nThe US$50 million award consists of:\n* US$44,971,691 to Copperwood Resources Inc., a wholly owned subsidiary of\nHighland Copper, to support eligible infrastructure expenditures associated\nwith the development of Copperwood; and\n* US$5,028,309 to the Gogebic County Road Commission to support critical local\ninfrastructure improvements associated with the Project and benefiting the\nbroader region.\nIn addition to the SSRP funding, the Gogebic County Road Commission has\nsecured a US$7,542,463 Transportation Economic Development Fund (\"TEDF\")\nCategory A grant from the Michigan Department of Transportation (\"MDOT\").\nTogether, the TEDF and SSRP grants will provide approximately $12,570,722\nmillion for improvements to County Road 519, improving road safety,\nreliability and access while supporting the broader region.\n\nThe final grant approval followed a thorough review of the Copperwood Project\nand was recommended by the Michigan Economic Development Corporation\n(“MEDC”), reflecting the importance of the Project’s development to the\nUpper Peninsula and the Company’s approach to responsible mining. The\nfunding will be provided through performance-based reimbursements for eligible\nsite readiness and infrastructure expenditures, including roads, power and\ncommunications infrastructure required to advance Copperwood. These\ninvestments are also expected to deliver broader regional benefits through\nimproved transportation, utility infrastructure and cellular and broadband\nconnectivity.\n\nBarry O’Shea, Chief Executive Officer of Highland Copper, commented,\n“Final approval of this US$50 million investment represents an important\nmilestone for Copperwood and a strong endorsement of the Project’s potential\nto deliver meaningful economic benefits to Michigan’s Upper Peninsula while\nmeeting the state’s rigorous environmental standards. We are grateful for\nthe support of the State of Michigan, Gogebic County and the many local\nstakeholders who have supported the Project throughout this process.\n\nThis funding also represents an important milestone in the overall project\nfinancing. With this grant secured, in addition to the Letter of Interest from\nthe U.S. Export Import Bank, Highland’s capacity to finance Copperwood is\nconsiderably strengthened.”\n\nMichigan State Senator Ed McBroom, commented, “The grants today from the\nstate of Michigan are a wonderful investment in communities and infrastructure\nthat is long deserved and overdue. Highland Copper’s willingness and\npatience to leverage this assistance for publicly accessible infrastructure\nalong with its own investment in it and the mine itself, along with all the\nbenefits the mine provides to the region and nation, is a major victory for\nthe UP, Michigan, and the nation.”\n\nFor additional details, see the State of Michigan’s press release regarding\nthe Copperwood Project and related infrastructure investments:\nhttps://www.michiganbusiness.org/press-releases/2026/08/state-of-michigan-celebrates-380-new-jobs-infrastructure-improvements-coming-to-western-upper-peninsula/.\n\nThe grant is subject to the completion of a definitive grant agreement with\nthe MEDC, and is conditional upon the Company providing evidence, on or before\nMarch 31, 2028, that it has obtained commitments satisfactory to the MEDC for\nUS$150,000,000 in additional project financing (the “Project Milestone”).\nOnce the Company demonstrates that it has met the Project Milestone, it will\nbe eligible for reimbursement of expenditures made on or before March 31,\n2033, on site preparation and improvement necessary to support the development\nof the Project. The grant is subject to certain completion milestones,\nincluding that the Company has established a minimum of 380 qualified jobs at\nthe Project.\n\nFor more than a decade, the Copperwood team has worked closely with local and\nregional communities, government representatives and regulatory bodies\nthroughout Michigan’s Upper Peninsula. That engagement has informed the\nProject’s development alongside an extensive permitting and environmental\nreview process, with environmental controls, mitigation measures and wetland\ncreation incorporated into Copperwood’s design and development plans. The\nCopperwood project is supported by more than 22 formal resolutions from\ngovernmental agencies and 10 letters of support from local and regional\nstakeholders, reflecting broad recognition of the long-term economic\nopportunity associated with the responsible development of Copperwood.\n\nWith Copperwood fully permitted and this important state funding now approved,\nthe Project is positioned to bring significant investment and economic\nactivity to the Western Upper Peninsula through local employment, procurement,\nservices and infrastructure development. Copperwood also has the potential to\nestablish a new domestic source of copper and strengthen the U.S. supply chain\nfor a critical mineral essential to energy infrastructure, manufacturing and\neconomic security.\n\nAbout Highland Copper Company\n\nHighland Copper Company Inc. is focused on developing the Copperwood Project\nin the Upper Peninsula of Michigan, U.S.A. The Company also owns surface\nrights securing access to the Copperwood deposit and providing space for\ninfrastructure at Copperwood as required. The Company has 738,188,122 common\nshares issued and outstanding. Its common shares are listed on the TSX Venture\nExchange under the symbol \"HI\" and trade on the OTCQB Venture Market under\nsymbol \"HDRSF\".\n\nMore information about the Company is available on the Company's website at\nwww.highlandcopper.com and on SEDAR+ at www.sedarplus.com.\n\nCautionary Note Regarding Forward-Looking Information\n\nThis news release contains “forward-looking statements” and\n“forward-looking information” (collectively “forward-looking\nstatements”) within the meaning of applicable Canadian securities\nlegislation. These statements include, without limitation, statements related\nto (i) the terms anticipated terms of the grant agreement, which have not yet\nbeen finalized, (ii) projections regarding the jobs anticipated to be created\nat the Copperwood Project, (iii) the potential long term economic benefits of\nthe Copperwood Project for the Western Upper Peninsula and to the US economy\ngenerally. Forward looking statements are subject to a number of assumptions,\nwhich management believes to be reasonable but may prove to be incorrect.\nImportant factors that could materially impact the Company’s expectations\ninclude: the Company and MEDC may not conclude a grant agreement, and the\nterms of the grant agreement may prove to be different than the parties’\ncurrent expectations; whether the Company will be able to identify\nUS$150,000,000 in funding for the Copperwood project; that the Company will be\nable to meet the new jobs condition within the time specified by the grant;\nchanges to the US public policy supporting domestic production of copper;\nopposition by third parties to the Copperwood project; changes in Copperwood\nproject parameters as plans continue to be refined; availability of services,\nmaterials and skilled labour to complete work programs, testing and drilling;\neffects of regulation by governmental agencies; the fact that permit\nextensions, renewals and amendments are subject to regulatory approvals, which\nmay be conditioned, delayed or denied; there is no assurance that the grant\nfunding we have applied for will be available, and any such approval may be\nsubject to conditions; advancement to a construction decision at Copperwood is\nsubject to additional studies, for which the Company will require additional\nfunds, which may not be available on a timely basis and accordingly could\ndelay a construction decision; unexpected cost increases, which could include\nsignificant increases in estimated capital and operating costs and the effects\nof inflation; fluctuations in metal prices and currency exchange rates;\ngeneral market and industry conditions, the results of baseline studies and\ntest work may result in unforeseen issues, any of which could delay or hamper\nadvancement of the project and thereby materially impact the Company’s\nability to draw down on the grant, as well as the other risks set out in the\nCompany’s public disclosure documents, including the AIF, filed on SEDAR+.\nAlthough the Company believes that the assumptions and factors used in\npreparing the forward-looking statements in this news release are reasonable,\nundue reliance should not be placed on forward looking statements. All\nforward-looking statements in this press release are based on information\navailable to the Company as of the date hereof, and the Company undertakes no\nobligation to update forward-looking statements except as required by law.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nFor further information or media requests, please contact:\n\nBarry O'Shea, CEO\nEmail: info@highlandcopper.com\n\nPhone: +1-450-677-2455\nWebsite: www.highlandcopper.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/4b4bd707-9553-436b-ae0d-e0272fab03d3)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-25T17:44:04.144633608Z","server_sent_at_ms":1787679844144},"received_at":"2026-08-25T17:44:04.195Z","source_url":"https://www.globenewswire.com/news-release/2026/08/25/3350812/0/en/highland-copper-announces-final-approval-of-us-50-million-grant-from-the-state-of-michigan-for-copperwood-project.html"},"analysis":{"id":"116352","press_release_id":"127428","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Grant receipt is conditional on securing US$150M in additional financing by March 31, 2028","Project financing remains incomplete pending construction decision"],"eventType":"operations_update","narrative":"Highland Copper secured final approval for a US$50 million performance-based grant from the Michigan Strategic Fund to support the development of its fully permitted Copperwood Project.\n\nThe funding includes roughly US$45 million for project infrastructure and US$5 million for local road improvements, which combined with a separate US$7.5 million state grant totals over US$12.5 million for regional infrastructure.\n\nAccess to the grant is conditional on Highland securing US$150 million in additional project financing by March 31, 2028, and establishing a minimum of 380 qualified jobs.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Major de-risking for Copperwood with US$50M Michigan grant approved, though financing conditions remain."},"keyFigures":{"dealValueUsd":50000000,"customDimensions":{"tedf_grant_usd":7542463,"shares_outstanding":738188122,"qualified_jobs_target":380,"grant_infrastructure_usd":44971691,"grant_local_infrastructure_usd":5028309,"conditional_financing_requirement_usd":150000000}},"quotedText":"Final approval of this US$50 million investment represents an important milestone for Copperwood and a strong endorsement of the Project’s potential to deliver meaningful economic benefits to Michigan’s Upper Peninsula while meeting the state’s rigorous environmental standards.","namedEntities":{"people":[{"name":"Barry O’Shea","role":"Chief Executive Officer"},{"name":"Ed McBroom","role":"Michigan State Senator"}],"products":["Copperwood Project"],"companies":[{"name":"Highland Copper Company Inc.","ticker":"HI"},{"name":"Copperwood Resources Inc.","relationship":"subsidiary"},{"name":"Gogebic County Road Commission","relationship":"infrastructure partner"},{"name":"Michigan Strategic Fund","relationship":"grant provider"},{"name":"Michigan Economic Development Corporation","relationship":"grant provider"},{"name":"U.S. Export Import Bank","relationship":"lender (LOI)"}],"dollarAmounts":[{"amount":"US$50 million","context":"total SSRP grant funding"},{"amount":"US$44,971,691","context":"infrastructure expenditures for Copperwood"},{"amount":"US$5,028,309","context":"Gogebic County Road Commission infrastructure"},{"amount":"US$7,542,463","context":"TEDF Category A grant"},{"amount":"$12,570,722","context":"combined TEDF and SSRP grants for road improvements"},{"amount":"US$150,000,000","context":"required additional project financing milestone"}]},"materialImpact":{"score":4,"reasoning":"Final approval of a US$50M grant is a material financing milestone that significantly de-risks the development of the company's primary asset, Copperwood. However, realization of funds is conditional on securing US$150M in additional financing by 2028, keeping it from a perfect score."},"tickerRelevance":{"others":[],"primary":"HI"},"globalImportance":20,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"material-grant-approval","sectorWeight":"Materials","conditionalRisk":"high-financing-milestone"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":4,"narrative":"Highland Copper secured final approval for a US$50 million performance-based grant from the Michigan Strategic Fund to support the development of its fully permitted Copperwood Project.\n\nThe funding includes roughly US$45 million for project infrastructure and US$5 million for local road improvements, which combined with a separate US$7.5 million state grant totals over US$12.5 million for regional infrastructure.\n\nAccess to the grant is conditional on Highland securing US$150 million in additional project financing by March 31, 2028, and establishing a minimum of 380 qualified jobs.","key_figures":{"dealValueUsd":50000000,"customDimensions":{"tedf_grant_usd":7542463,"shares_outstanding":738188122,"qualified_jobs_target":380,"grant_infrastructure_usd":44971691,"grant_local_infrastructure_usd":5028309,"conditional_financing_requirement_usd":150000000}},"named_entities":{"people":[{"name":"Barry O’Shea","role":"Chief Executive Officer"},{"name":"Ed McBroom","role":"Michigan State Senator"}],"products":["Copperwood Project"],"companies":[{"name":"Highland Copper Company Inc.","ticker":"HI"},{"name":"Copperwood Resources Inc.","relationship":"subsidiary"},{"name":"Gogebic County Road Commission","relationship":"infrastructure partner"},{"name":"Michigan Strategic Fund","relationship":"grant provider"},{"name":"Michigan Economic Development Corporation","relationship":"grant provider"},{"name":"U.S. Export Import Bank","relationship":"lender (LOI)"}],"dollarAmounts":[{"amount":"US$50 million","context":"total SSRP grant funding"},{"amount":"US$44,971,691","context":"infrastructure expenditures for Copperwood"},{"amount":"US$5,028,309","context":"Gogebic County Road Commission infrastructure"},{"amount":"US$7,542,463","context":"TEDF Category A grant"},{"amount":"$12,570,722","context":"combined TEDF and SSRP grants for road improvements"},{"amount":"US$150,000,000","context":"required additional project financing milestone"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-25T18:06:53.309Z","global_importance":20,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"material-grant-approval","sectorWeight":"Materials","conditionalRisk":"high-financing-milestone"}},"durationMs":101809,"modelName":"glm-4.7"}}