HI.V · 2020-11-02 12:00:00

Highland Copper Announces Corporate Update

Corporate Updates

November 2, 2020 – Longueuil, Quebec. Highland Copper Company Inc. (TSXV: HI, OTCQB:

HDRSF) (the “Company”) announced today that the credit agreement with Osisko Gold Royalties Ltd

(“Osisko”) and Greenstone Resources II LP entered into on May 20, 2019 was further amended. The

maturity date for the repayment of the US$5,000,000 loan plus accrued interest was extended to

November 30, 2020, provided however that the lenders may demand repayment of the loan and accrued

interest at any time prior to the maturity date.

In connection with the previous amendment of the credit agreement, Osisko and the Company had

agreed on the terms and conditions pursuant to which Osisko would exercise its silver royalty option

(see news release of September 11, 2020). The proposed transaction with Osisko was subject to certain

conditions including completion of due diligence and execution of definitive documentation. The

Company now anticipates that the closing of that transaction would occur contemporaneously with the

closing of the acquisition of the White Pine North property, which the Company aims to complete by

the end of the year.

The Company continues to review various options to settle its working capital deficiency and to meet

all existing commitments.

Cautionary Statement

Certain statements contained in this news release constitute forward looking information under the

provisions of Canadian securities laws, including statements about the Company’s plans to complete the

acquisition of the White Pine North property, plans to complete the proposed transaction with Osisko and

the exercise of the silver royalty option, as well as plans to complete one or more transactions to settle the

Company’s working capital deficiency and to fund the Company. The information contained herein reflects

Highland's views as of the date of this news release. Forward looking information is based on assumptions,

and by its nature is subject to risks and uncertainties that may cause actual future events to differ materially

from those anticipated in it. Considering the Company’s financial condition and the state of the capital

markets for a company such as Highland, there is no assurance that additional funds will be available or

available on terms acceptable to the Company or that the Company will be able to meet all the conditions

to complete the transactions. The Company does not intend, and does not assume any obligation, to update

forward-looking information, except as required by law. Accordingly, readers are advised not to place

undue reliance on forward-looking information.

About Highland

Highland Copper Company Inc. is a Canadian company focused on exploring and developing copper

projects in the Upper Peninsula of Michigan, U.S.A. Information about the Company is available on

SEDAR at www.sedar.com and on the Company’s website at www.highlandcopper.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.

For further information, please contact:

Denis Miville-Deschênes, President & CEO

Tel: +1.450.677.2455