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Eagle Mine to Conclude Regional Exploration Program

Today we are announcing that our regional exploration program in southern Houghton and Baraga counties will conclude over the coming days. The program commenced in the spring of 2018 with aerial magnetic surveys, and drilling commenced in the spring of 2019.

"Exploration programs and budgets across all our mines are continuously being evaluated for the potential likelihood of finding a deposit economic to mine," said Matt Johnson, Eagle Mine External Affairs Manager. "As a global company, allocation of capital across our operations is carefully considered. After significant investment over the last several years, the difficult decision was made to conclude this program at Eagle Mine."

We continue to focus our efforts on the development of the Eagle East ore body that was discovered in 2016, which is on schedule to commence production this fall. Underground definition drilling of Eagle East is continuing with the aim of discovering additional mineralization to potentially extend our operational life beyond 2023.

We would like to thank host communities who allowed our regional exploration program to be part of their community and thank our dedicated exploration team for their successful efforts over many years of work.


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