Drill Program Accelerated At The Peru Soledad Project

VANCOUVER - Chakana Copper Corp. has added a second drill rig to its Soledad project located in Ancash, Peru in order to accelerate both the exploration and resource drilling programs. The Board of Directors has approved an expanded 26,000m drill program for the 2021 calendar year, with 16,000m of resource drilling for inclusion in the Company's Soledad maiden resource estimate expected later this year. Resource drilling will focus on recent discoveries at Paloma East, Paloma West, and Huancarama. Resource drilling is expected to also be completed on Breccia 7 (Bx 7), a previous discovery. An additional 10,000m of scout drilling will be allocated to test numerous high quality exploration targets that have already been identified. Resource definition drilling includes both step-out and in-fill core holes in close proximity to known mineralization of possible economic interest.

Currently, one drill rig continues to conduct scout drilling on the west side of the Huancarama Breccia Complex where recent drilling has confirmed a blind breccia pipe immediately north of the H5 breccia body exposed at surface. A total of twenty-five drill holes have now been completed at Huancarama. Once scout drilling is completed, this drill rig will focus on resource definition drilling at Huancarama. The second drill rig has been deployed to the Paloma area where resource drilling has been initiated at Paloma East. Resource drilling is also planned for Paloma West, and additional exploration drilling will be conducted in the greater Paloma area. A third drill rig dedicated to exploration drilling is scheduled to arrive on the property in early April 2021.

David Kelley, President and CEO, said, "Adding a second drill rig at Soledad, to accelerate the project, is an exciting development. We are now fully funded for our 26,000m drill program in 2021 with $9.3 million in treasury. We look forward to releasing additional exploration results from Huancarama, and resource drilling results from Paloma in the near future."