Chakana Copper Commences Drill Program at the Soledad Project in Peru

• Chakana Copper Corp. has begun a 3,000m drill program at its Soledad project in Peru.
• The program will test three high-priority targets in the southern half of the project.
• Targets include the Estremadoyro tourmaline breccia pipe, Mega-Gold porphyry, and La Joya epithermal zone.
• Chakana's initial mineral resource estimate shows significant copper, gold, and silver potential.
• The company's strong exploration upside and exposure to copper and precious metals position investors well.

About Chakana Copper

Chakana Copper is a Canadian mineral exploration company focused on advancing the Soledad project in the Ancash region of Peru. The company's primary goal is to explore and develop the high-grade copper-gold-silver mineralization hosted in tourmaline breccia pipes at Soledad. With a favorable mining jurisdiction and supportive local communities, Chakana is well-positioned to create value for its shareholders through exploration success.

Commencement of 3,000m Drill Program

On April 5, 2024, Chakana Copper announced the start of a fully-funded 3,000m drill program at its Soledad project. This program will focus on testing three high-priority targets located in the southern half of the project area, where an expanded drill permit was granted in 2023. The company is working with AK Drilling, who has completed over 62,000 meters of drilling for Chakana since 2017, ensuring an efficient and safe program.

High-Priority Targets

1. Estremadoyro Tourmaline Breccia PipeThe current drilling is testing the Estremadoyro tourmaline breccia pipe, one of the numerous mineralized tourmaline breccias located on the southern side of the Soledad project. This target has the potential to expand the company's existing resource base and provide further insight into the mineral system at Soledad.
2. Mega-Gold Porphyry TargetFollowing the drilling at Estremadoyro, Chakana plans to test the bulk-tonnage Mega-Gold porphyry target. This target represents a significant opportunity for the company to explore the potential for a large-scale copper-gold porphyry system within the Soledad project. Success at Mega-Gold could significantly enhance the project's overall value.
3. La Joya High-Sulfidation Epithermal ZoneThe La Joya target, located further south, is a high-sulfidation epithermal zone with preserved advanced argillic alteration and strong silver-gold mineralization at the surface. Testing this target will provide valuable information on the potential for precious metal mineralization in the southern portion of the project.

Initial Mineral Resource Estimate

In Q1 2022, Chakana announced an initial mineral resource estimate for seven breccia pipes at the Soledad project. The Inferred Resource includes:

• 4.8 million tonnes grading 0.72 g/t gold, 61 g/t silver, and 0.97% copper, assumed to be extractable by underground mining methods
• 1.9 million tonnes grading 1.29 g/t gold, 37.1 g/t silver, and 0.65% copper, assumed to be extractable by open pit mining methods

The total initial Inferred Resource contains 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds of copper, demonstrating the significant potential of the Soledad project.

Exploration Upside

In addition to the initial resource, Chakana's multidisciplinary exploration efforts have defined 154 exploration targets at Soledad, with only 28 (18%) tested to date. This confirms that Soledad is a large, well-endowed mineral system with strong exploration upside. As the company continues to explore and drill these targets, there is potential for further resource growth and new discoveries.

Conclusion

Chakana Copper Corp. offers investors an attractive opportunity to gain exposure to copper and precious metals through its Soledad project in Peru. With an initial mineral resource estimate already in place and a large number of untested exploration targets, the company is well-positioned for growth through exploration success.

The commencement of the 3,000m drill program targeting high-priority areas in the southern half of the project demonstrates Chakana's commitment to unlocking the full potential of the Soledad project. The testing of the Estremadoyro tourmaline breccia pipe, Mega-Gold porphyry target, and La Joya high-sulfidation epithermal zone provides investors with multiple avenues for value creation.

Furthermore, Chakana's experienced management team, strong financial position, and strategic partnerships within the industry strengthen its ability to advance the Soledad project efficiently and effectively.

As the company continues to explore and develop the Soledad project, investors can expect regular updates on drilling results, resource estimates, and other key milestones. With a favorable mining jurisdiction, supportive local communities, and significant exploration upside, Chakana Copper Corp. presents a compelling investment opportunity for those seeking exposure to the growing demand for copper and precious metals.