Highland To Acquire Orvana's Copperwood Project

LONGUEUIL - Highland Copper Company Inc. and Orvana Minerals Corp. have entered into a definitive agreement whereby Highland will acquire all rights, title and interest in the Copperwood Project from Orvana through the acquisition of all of the outstanding shares of Orvana Resources US Corp. Copperwood is located in the Upper Peninsula of the State of Michigan, approximately 30 kilometers southwest of the White Pine Project.

Among other things, closing of the Acquisition ("Closing") is conditional upon the completion of a financing to fund the Acquisition and receipt of all required regulatory approvals including the approval of the TSX Venture Exchange. Closing is expected by April 30, 2014. The Agreement has been approved by both companies' Boards of Directors.

David Fennell, Executive Chairman of Highland, stated: "This transaction is part of a strategy that Highland has undertaken to consolidate an emerging copper district in the Upper Peninsula of Michigan. The acquisition of Copperwood in conjunction with our previously announced acquisition of the White Pine Project, and combined with our existing Keweenaw projects, establishes the foundation for an emerging intermediate copper producer. The synergistic combination of these three assets in a single portfolio will bring together a large-scale historical estimate of copper reserves and resources at White Pine and Copperwood, and additional potential copper resources from the Keweenaw projects."

Michael Winship, President and Chief Executive Officer of Orvana, stated: "Orvana has been pleased to be part of the development of Copperwood over the last several years. We continue to believe that a good copper mine will be built here. Based on a strategic planning review in 2013, Orvana decided that a disposition would allow for greater organic growth at existing operations through concentrated exploration. In addition, Orvana's balance sheet will be strengthened in this challenging market of metal price volatility."