Mr. Tim Warman reports

ATACAMA BEGINS 10,000-METRE DIAMOND DRILLING PROGRAM AT ITS CRISTINA PROJECT, CHIHUAHUA MEXICO

Atacama Copper Corp. has started a 10,000-metre diamond drilling program at its wholly owned Cristina precious metals project in southwestern Chihuahua state, Mexico. The Cristina project consists of multiple outcropping quartz veins that are frequently greater than 10 metres in width and extend for a currently known strike length of up to five kilometres. At least four parallel mineralized vein zones have been mapped and sampled to date, however most of the resource estimate reported here is contained within the Guadalupe vein.

Tim Warman, Atacama's chief executive officer, commented: "The drilling program that started this week is aimed at better defining and expanding the known higher-grade zones within the Guadalupe and Los Ingleses vein systems. While the current resource is largely contained within a single modelled open pit shell on the Guadalupe vein, we believe that there is excellent potential to define a higher-grade underground resource at Cristina. Previous drilling has encountered thick higher-grade zones in every vein system tested to date, and this current round of drilling is aimed at better defining and expanding those zones."

An interesting aspect of the Cristina deposit is the apparent vertical extent of the mineralization within the system. Mineralization in outcrop occurs at surface at elevations up to 2,000 metres above sea level (masl), while the deepest zone of mineralization intercepted by drilling is at an elevation of 900 masl, a vertical range of approximately 1,100 m.

The Cristina deposit is an epithermal to mesothermal vein system where the mineralization is predominantly gold and silver, with lesser base metal values. At least four parallel vein zones trend east-west to northeast-southwest and are hosted in an andesitic volcanic sequence which forms part of the lower volcanic sequence of the Sierra Madre Occidental range. The andesites are intercalated locally with dacitic intrusions and related lava flows and breccias, and the sequence is in turn cut by andesitic and hornblende-plagioclase porphyry following fault trends. In some areas the veins are covered by postmineral rhyolite of the upper volcanic sequence.

Cristina is similar to other active mines in the region including Fresnillo's San Julian and La Cienega mines, as well as First Majestic's Tayoltita/San Dimas mine.

The goal of targeting the higher-grade zones within the main Guadalupe vein, as well as other high-grade veins in the area, is to both increase the size and the grade of the resource and demonstrate the underground resource potential at Cristina. The current mineral resource estimate comprises:

• Indicated resources of 17.5 million tonnes at 0.51 gram per tonne gold, 33.8 g/t silver, 0.47 per cent zinc, 0.19 per cent lead and 0.04 per cent copper (1.33 g/t gold equivalent grade), for a contained 752,000 gold equivalent ounces;

• Inferred resources of 19.0 Mt at 0.51 g/t gold, 27.5 g/t silver, 0.50 per cent zinc, 0.19 per cent lead and 0.05 per cent copper (1.27 g/t AuEq grade), for a contained 777,000 gold equivalent ounces.

Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The program is expected to continue over the next several months. Results from the drilling program will be released periodically as they are received and analyzed.

Qualified person

Jacob W. Richey, PE, of IMC is the qualified person responsible for the mineral resource estimate. Details of the Cristina MRE can be found in the company's press release of Oct. 30, 2023, and in the National Instrument 43-101 compliant report titled Technical Report on the Mineral Resource for the Cristina Project prepared for TCP1 and Atacama Copper by Independent Mining Consultants Inc., with an effective date of Jan. 1, 2023, and issue date of Dec. 1, 2023. This report is available under the company's SEDAR+ profile and on the company's website.

Charlie Ronkos, MMSA, is Atacama's executive vice-president, exploration, and the qualified person for the remaining technical information disclosed in this release.

About Atacama Copper Corp.

Atacama Copper is a well-funded resource company adding value through the acquisition, exploration, and development of copper and precious metals projects in the Americas. The company is carrying out an aggressive drilling campaign at its Cristina precious metals project in Chihuahua, Mexico, with the goal of significantly expanding the existing mineral resource estimate. Drilling is also planned for the Yecora copper project in Sonora, Mexico. In Chile, the Placeton/Caballo Muerto project hosts several untested porphyry copper targets situated between the large-scale Relincho and El Morro/La Fortuna copper-gold deposits of the Nueva Union joint venture between Teck and Newmont Mining.

We seek Safe Harbor.