High Divide Minerals Breaks Ground on $40+ Million Resource Development Project

Dillon, MT – October 6^th, 2025 – High Divide Minerals is pleased to announce that the Company has broken ground on the Treasure Island expansion project. In partnership with Kiewit Mining Group, the company plans to execute an overburden removal campaign that will continue through 2026.

“The Treasure Island expansion project has been in the planning phase for several years and we have invested significantly in preparation for this project, recognizing its importance for High Divide Minerals’ growth. We are executing the project in partnership with Kiewit Mining Group and several local contractors and consultants, and are excited about the economic impact of this development on our community,” said Brad Watkins, Technical Services Manager at High Divide Minerals.

“The Treasure Island expansion project is a key driver in securing long term ore supply, including for our high-bright Talcron products, to support our customer base. We look forward to speaking with our customers about our plans to expand High Divide’s access to domestic talc reserves while maintaining the industry-leading quality and service that our customers require,” said Joel Henley, Chief Commercial Officer at High Divide Minerals.

“Successful execution of this expansion project will position High Divide Minerals to continue to serve its customers for many years to come. I’m thankful to our team that has advanced the project to this milestone and excited to see it through to completion,” said Josh Regan, General Manager at High Divide Minerals.

In September, High Divide Minerals closed a $1.55m purchase of land around the Smith Dillon mine, which is one of several future development prospects that the company is evaluating for further investment after the Treasure Island expansion project is complete.

©High Divide Minerals 2025

Shea Dawson

Vice President, Finance

Shea brings diverse financial leadership with a background spanning energy, manufacturing, and entrepreneurial venture. Prior to joining High Divide, Shea spent several years as the General Manager for Thirsty Street Brewing Company, a successful craft brewery and concert venue he co-founded and helped grow into a regional staple. His earlier experience includes over a decade in finance and public affairs roles with Phillips 66 and ConocoPhillips, where he managed refinery budgeting, capital project evaluation, joint venture accounting, and internal audits across domestic and international operations.

Shea earned his MBA from Oklahoma State University and a bachelor’s degree in finance from New Mexico State University.

Josh Regan

General Manager

Josh is a seasoned business leader with over 20 years of experience in mineral processing. Throughout his career, Josh has built a strong track record of success in operations management. With a wide range background from engineering, operations, marketing and environmental and safety, he has developed expertise in manufacturing and mineral processing. Before his eight-year tenure at High Divide Minerals, Josh worked in the chemical processing and agricultural sector for Agrium Inc. Josh holds a bachelor’s degree in Mechanical Engineering, and a minor in Mathematics from Montana Technological University

Cody Haagenson

Operations Manager

As Operations Manager at High Divide Minerals, Cody Haagenson drives operational excellence through strategic planning, process optimization, and interdepartmental collaboration. With 10 years of experience at High Divide Minerals spanning Mine to Mill Operations, he specializes in inventory management, ore coordination, and safety compliance while leading teams with a strong focus on efficiency and continuous improvement. His expertise in problem-solving and root cause analysis helps identify and implement solutions that enhance production. Cody holds a bachelor’s degree in mining engineering from Montana Tech and is committed to fostering a productive, safety-driven work environment while ensuring high-quality mineral processing.

Lance Spencer

Plant Manager

Lance Spencer is the Plant Manager at High Divide Minerals. With over a decade of experience in industrial operations and engineering, he brings a deep understanding of process optimization, team leadership, and strategic planning to his role. Known for his hands-on leadership style and commitment to operational excellence, Lance is passionate about building strong teams and delivering sustainable results. He holds a degree in Environmental Engineering from Montana Technological University and a degree in Biology from the University of Montana.

Chad Walby

Exploration Manager

Chad is an Exploration Manager with 20 years of experience in project management and support work across earth science disciplines including geologic mapping and modeling, geotechnical analysis, hydrogeologic analysis, and resource modeling. His experience spans the full range of tasks involved in proposing, analyzing, modeling, and developing a resource. In the Mine Exploration Manager role Chad directs exploration activities and contributes to development projects, and ore extraction and process improvements. Chad has a Bachelor’s degree in Physics from Lawrence University.

Joel Henley

Chief Commercial Officer

Joel brings a wealth of experience in global mineral and industrial sales, having successfully led commercial teams across multiple organizations. Before joining High Divide Minerals, he spearheaded the commercial operations at Active Minerals, LLC, driving worldwide sales of kaolin and attapulgite clays for diverse industrial applications. His leadership extended to Minerals Technologies, where he managed the global sales of precipitated calcium carbonates, overseeing teams in North America, Asia, India, and Europe. Prior to that, he held key commercial leadership roles at Tate & Lyle and Ingredion, navigating the complexities of the starch processing and modification industry. Joel has a bachelor’s degree in engineering from West Point and an MBA from Boston University.

Mark Gillespie

Vice President, Sales

Mark serves as the Vice President of Sales with over 30 years of minerals experience. Prior to High Divide, Mark was the executive VP of Sales and Marketing at Cimbar Performance Minerals, Inc., where he spearheaded the delivery of performance mineral-based additive solutions—such as barium sulfate, calcium carbonate, and ATH—across a wide range of markets and industries. Before joining Cimbar, he founded and led MG Minerals, a consultancy offering commercial services to global manufacturers and distributors. Prior to that, Mark was Vice President of Commercial at KaMin LLC, and Director of Sales & Technical Service for the Americas at Omya. Mark holds a B.S. in Chemistry and a MBA from the University of Evansville and is based in Atlanta, GA.

Brad Watkins

Technical Services Manager

Brad is a tested Technical Services Manager with over 24 years of progressive experience in the construction, mining and mineral processing industry. Throughout his career, he has demonstrated expertise in operational permitting, complex engineering solutions, process improvement, project management, and strategic technical leadership across diverse operations. He has played a pivotal role in developing and executing technical strategies aligned with business goals. He is known for his collaborative leadership style, commitment to safety and sustainability, and his ability to bridge the gap between technical teams and executive leadership.

Brad holds a bachelors degree in Mechanical Engineering with a Business Finance and Administration minor from Montana Technological University.

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