Results From the PFS Drilling Program At Zafranal Project

TORONTO, ON - AQM Copper Inc. reported results from its Preliminary Feasibility Study (PFS) drilling program at its 30% owned Zafranal Cu-Au Project located in southern Peru. The initial stage of the program was aimed at upgrading the resource category, from Inferred to Indicated, for oxide and mixed portions of the Project's mineral resource as well as better defining the peripheral limits of mineralization. The program was carried out between September 2014 and January 2015 as part of the ongoing Pre-Feasibility work program fully funded by the Project partners.

A total of 39 diamond drill holes, totaling 5534 meters, have been completed. The results, once compiled and interpreted, will allow more detailed geological modeling of the oxide and mixed zones, which were not the focus of the Company's earlier resource delineation programs. The new model to be constructed, alongside an ongoing re-logging effort for all previous drilling, will be used to better constrain the block model and hence upgrade the resource category for this style of mineralization. The updated PEA, highlighted the economic potential to include a SX-EW facility that would produce an average of 5,949 tons per year of cathode, in addition to the planned 44,000 tons per day (tpd)-flotation plant at Zafranal.

Most of the drill holes in the initial PFS drilling program were targeted to reach the bottom of the oxide/mixed zones, as most of the underlying higher-grade supergene enrichment zone had been previously classified in the indicated and measured categories of mineral resource.

Soluble copper (sulphuric acid and cyanide soluble - CuSol%) results are shown for all mineral zones. A portion of the copper in the oxide zone is found in goethite and chlorite oxide mineral phases, which are not readily leachable in sulphuric acid or by bacterial activity, and these have not been considered as soluble copper. A 0.15% CuSol% cut-off has been used to report the oxide and mixed intervals. A 0.15% CuT% cut-off has been used to report the hypogene and supergene sulphide intervals.