Mr. Fernando Ganoza reports

ATICO PRODUCES 2.0 MILLION POUNDS OF CU AND 2,291 OUNCES OF AU IN FIRST QUARTER 2015

Atico Mining Corp. has released its operating results for the three months ended March 31, 2015, from its El Roble mine. Production for the quarter totalled two million pounds of copper and 2,291 ounces of gold in concentrates, an increase of 43 per cent and 99 per cent, respectively, for copper and gold over the same period in 2014.

"First quarter 2015 was a significant improvement over the same period last year but concluded well below our expectations. Reduced mill availability and throughput during January and February affected production results for the quarter," said Fernando E. Ganoza, chief executive officer. "Despite the challenging start to the year, we are experiencing a strong start to the second quarter and remain optimistic that we will have the opportunity to compensate over the next three quarters and achieve our 2015 targets."

First quarter operational highlights

• Production of two million pounds of copper contained in concentrates, an increase of 43 per cent over Q1 2014;
• Production of 2,291 ounces of gold contained in concentrates, an increase of 99 per cent over Q1 2014;
• Average processed tonnes per day of 557, an increase of 57 per cent over Q1 2014;
• Copper head grade of 2.91 per cent, a decrease of 3.3 per cent over Q1 2014;
• Gold head grade of 3.14 grams per tonne, an increase of 29 per cent over Q1 2014;
• Copper and gold recovery of 93.06 per cent and 67.59 per cent, an increase of 1.7 per cent and 6.1 per cent for copper and gold, respectively, over Q1 2014.

First quarter operational review

In late January and for all of February, the company experienced intermittent production and lower-than-planned throughput. This was a result of a malfunction during commissioning of the newly installed main screen before the secondary crusher. The operations team quickly redesigned the flow sheet bypassing the screen and stabilizing throughput in March at about 600 tonnes per day and reaching during certain days 650 tonnes per day.

The main screen has since been overhauled and is scheduled to be reinstalled in early May. Along with the recent redesign and pending a successful reintegration of the main screen, management believes that the mill's nominal capacity could increase beyond 650 tonnes per day.

The company experienced a reduction in the average in situ copper grade of stopes mined in the quarter, reducing the head grade for the same period by approximately 7 per cent relative to 2014 head grades. Gold head grade for the period was in line with expectations. The head grade is expected to increase during second quarter of 2015 to levels seen in the fourth quarter of 2014.

               FIRST QUARTER OPERATIONAL DETAILS

                                 Q1 2015 total    Q1 2014 total
Production (contained in
concentrates)
Copper (000 pounds)                      2,003            1,398
Gold (ounces)                            2,291            1,147
Mine
Tonnes of ore mined                     32,664           26,791
Mill
Tonnes processed                        33,558           23,016
Tonnes processed per day                   557              354
Copper grade (%)                          2.91             3.01
Gold grade (g/t)                          3.14             2.43
Recoveries
Copper (%)                                93.2             91.5
Gold (%)                                  67.5             63.7
Concentrates
Copper and gold concentrates (dmt)       4,839            2,735
Payable copper produced (000 lb)         1,890            1,332

Metal production figures are subject to adjustments based on 
final settlement.

El Roble mine

The El Roble mine is a high-grade underground copper and gold mine with nominal processing plant capacity of 650 tonnes per day, located in the department of Choco in Colombia. Its commercial product is a copper-gold concentrate.

Since obtaining control of the mine on Nov. 22, 2013, Atico has upgraded the operation from a nominal capacity of 400 tonnes per day. The mine has a continuous operating history of 22 years, with recorded production of 1.5 million tonnes of ore at an average head grade of 2.6 per cent copper and an estimated gold grade of 2.5 grams per tonne. Copper and gold mineralization at the El Roble property occurs in volcanogenic massive sulphide lenses.

Since entering into the option agreement in January, 2011, to acquire 90 per cent of El Roble, Atico has aggressively explored the mine and surrounding claims. The company has completed 11,740 metres of diamond drilling and identified numerous prospective targets for VMS deposits on the 6,679-hectare property. This exploration led to the discovery of high-grade copper and gold mineralization below the 2000 level, the lowest production level of the El Roble mine. Atico has developed a new adit access from the 1880 elevation to develop these new resources.

National Instrument 43-101-compliant inferred mineral resources are 1.58 million tonnes grading 4.45 per cent copper and 3.17 g/t gold at a cut-off grade of 0.72 per cent copper-equivalent. Mineralization is open at depth and along strike, and the company plans to further test the limits of the resource.

On the larger land package, the company has identified a prospective stratigraphic contact between volcanic rocks and black and grey cherts that has been traced by Atico geologists for 10 kilometres. This contact has been determined to be an important control on VMS mineralization on which Atico has identified 15 prospective target areas for VMS-type mineralization occurrence, which is the focus of the surface drill program at El Roble.

Qualified person

Thomas Kelly (SME registered member 1696580), chief operating officer of the company, a qualified person under National Instrument 43-101, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.

We seek Safe Harbor.