Orion Mine Finance Increases Investment in Highland Copper

TORONTO, June 26, 2019 /CNW/ - Orion Mine Finance announced that on June 25, 2019, Betelgeuse LLC, a limited liability company managed by Orion Mine Finance Management I Limited (collectively, "Orion"), entered into a transaction agreement (the "Transaction Agreement") with Osisko Gold Royalties Ltd. ("Osisko") pursuant to which Orion agreed to purchase 74,420,434 common shares ("Common Shares") of Highland Copper Company Inc. (TSXV: HI) ("Highland Copper").

Immediately prior to entering into the Transaction Agreement, Orion held 67,250,000 Common Shares representing a securityholding percentage of approximately 14.22% (based on 472,933,689 Common Shares outstanding). Immediately following the acquisition, Orion holds 141,670,434 Common Shares representing a securityholding of approximately 29.96%, an increase in its securityholding percentage of approximately 15.74%.

Orion acquired the securities as partial consideration for the repurchase by Osisko of certain common shares of Osisko. The Highland Copper shares were transferred to Betelgeuse LLC at a deemed value of C$2,976,820.20 in the aggregate, or C$0.0400 per share, being the closing price on the trading day prior to signing.

Orion has no current plan or intentions which relate to, or would result in, the acquisition or disposition of securities of Highland Copper. In the future, Orion may increase or decrease its investment in the securities of Highland Copper or pursue certain other actions depending on its evaluation of the business, prospects and financial condition of Highland Copper, the market for Highland Copper's securities, general economic and tax conditions and other factors.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of Highland Copper at www.sedar.com. To obtain a copy of the early warning report, you may also contact Limor Nissan, COO and General Counsel of Orion Resource Partners (USA) LP at 212 596 3469. Orion's address is Cumberland House, 7th Floor, 1 Victoria Street, Hamilton HM11, Bermuda.

Forward-Looking Information

Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to Orion's future intentions regarding the securities of Highland Copper. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Orion is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Orion Mine Finance

Limor Nissan, COO and General Counsel of Orion Resource Partners (USA) LP at 212 596 3469