Additional High-Grade Copper-Gold Sulphide Mineralization

VANCOUVER - Atico Mining Corporation reported on the drilling program at the La Plata high-grade volcanogenic massive sulphide (VMS) project in Ecuador. These latest results confirm additional new zones outside of the known envelopes, more precisely along strike and between North and South Blocks.

True widths are dependent on uncertainties in the local strike and dip of the mineralization and are estimated to be between 76% and 83% of the drill intercept. Hole CMLP-21-189 was drilled as an in-fill through the South Block and confirmed the surrounding robust grades intercepted by previous drilling of VMS mineralization. Copper and gold grades in the hole remain consistent through 9.8 meters of massive sulphide mineralization. In this sequence, drilling targeted new extensions to test for mineralization at depth, extending the VMS footprint deeper below the North Block. Recent results, including CMLP-21-190 and CMLP-21-192 confirm that additional mineralization continues at depth. Hole CMLP-21-190 also reported two robust mineralized intercepts. The first intercept is dominated by sphalerite and the second intercept by chalcopyrite. These results indicate the presence of a parallel VMS structure located several meters east of the initial North Block. Hole CMLP-21-192 reported grades of 171 g/t silver and 11.9 % zinc over 6.2 meters in addition to strong copper and gold grades. Positive drilling results justify additional drilling at La Plata.

The 2021 drilling campaign has delivered strong results. Drilling results have extended the footprint of the North and South Blocks beyond the known VMS lenses and confirmed the presence of additional mineralized structures parallel to the initial South and North Blocks. Following the positive results returned by the first 8,000 meter drill program, the Company will extend its drilling efforts to 12,000 meters of diamond drill on the La Plata project.

Earlier this year, Atico reinitiated regional exploration on La Plata. A part of this year’s exploration plan was to restart the regional program and test several targets identified further to the north along the concession’s copper anomaly trend. Previously, the exploration team sampled bedrock in drainages over half a kilometer north of the Guatuza zone. These samples were analyzed and reported up to 4.5 g/t Au, 51.3 g/t Ag, 16.55% Cu, and 5.83% Zn. In addition, The San Pablo target area, located approximately one kilometer north along the copper trend will also be included in this year’s program and where the regional drilling has already begun.