Three High Chargeability Anomalies In Geophysical (IP) Survey Completed At Lida Copper-Silver Project

VANCOUVER - Aguila Copper Corp. reported on the induced polarization (IP) survey completed recently at the Company's 100% owned Lida copper-silver project on the Walker Lane Belt in south-central Esmeralda County, Nevada. Three new high chargeability anomalies identified at Lida, each approximately 500m in length. High chargeability corresponds well to area of high-grade oxide copper sampled at surface. In 57 samples taken from dump and pit material, copper ranged from 26.20% Cu to 12 ppm Cu averaging 1.80% Cu. Twenty samples exceeded 1% Cu including 14 that exceeded 2% Cu. Permitting and drill planning now progressing for a program proposed for Q3/Q4 2022.

Geophysical survey results are very promising, having identified a broad NE-SW oriented zone of elevated chargeability trending across the Lida project. Three large discrete upright/steeply dipping chargeability anomalies of high IP were discovered within this elevated chargeable zone . The anomalies are each approximately 500m in strike length with a chargeability exceeding >40mV/V in a background of <10mV/V. Values above 10mV/V are typically considered anomalous. While there is typically a direct correlation between chargeability and sulphide content, it may not correlate to economic mineralization.

The footprint of the three IP anomalies corresponds closely with area of oxide copper in outcrop and historic workings at surface. There is no indication of past drilling that has tested the areas of high chargeability, and Aguila considers the target is immediately drill-ready. The Company is currently acquiring necessary land use permits and drilling contracts for a program to begin in Q3 or Q4 of 2022.

"The IP survey results from Lida are as promising as we could have hoped for," said Mark Saxon, President and CEO. "The three high chargeability features are appropriately sized to potentially be sourced from sulphide mineralization, and their association with high grade copper at surface makes for a compelling target. We know there are carbonate-rocks within the sequence, supporting either a porphyry or skarn mineralization model. Our 100% owned Lida project has progressed rapidly through concept, staking and sampling stages to now being ready for drilling."