Mr. Fernando Ganoza reports

ATICO UPDATES MINERAL RESERVES AND RESOURCES FOR THE EL ROBLE MINE IN COLOMBIA

Atico Mining Corp. has released an updated National Instrument 43-101 mineral resource and reserve estimate as on March 12, 2024, for the El Roble mine located in Colombia.

"Our infill and mine vicinity exploration drilling at El Roble mine has yielded very good results intercepting additional high-grade mineralization in proximity to current mining activity. What is particularly exciting is that we still continue to intercept further mineralization beyond the cut-off date of this report which is telling us that these areas remain open at depth and along strike," said Fernando E. Ganoza, chief executive officer. "Aggressive mine vicinity drilling will continue this year looking for additional massive sulphide deposits and to replace what is currently being mined."

Resource and reserve estimate highlights:

• Measured and indicated mineral resources are estimated at 881,000 tonnes averaging 3.40 per cent copper and 2.98 grams per tonne Au.
• Proven and probable mineral reserves are estimated at 828,000 tonnes averaging 2.49 per cent Cu and 2.20 g/t Au.
• A conversion rate of 88 per cent of measured and indicated resources to proven and probable reserve categories over the current resource estimate.
• Life of mine extended until first quarter of 2027.

El Roble resource and reserve estimate

The updated mineral resource and reserve estimate for El Roble was prepared by staff and consultants of Miner SA, an Atico Mining operating subsidiary. Thomas Kelly (SME registered member 1696580) has reviewed the reserve estimate and Antonio Cruz (AIG registered member 7065) has reviewed the resource estimate and both have acted as the qualified persons as defined by Canadian National Instrument 43-101. The mineral reserves reported herein were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards on mineral resources and reserves, definitions and guidelines prepared by the CIM standing committee on reserve definitions and adopted by CIM council. This reserve estimate is based on all data available through March 12, 2024.

A full NI 43-101 report reviewed and approved by Mr. Kelly will be available on SEDAR+ within 45 days of this news release.

El Roble mine

The El Roble mine is a high-grade, underground copper and gold mine with nominal processing plant capacity of 1,000 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 historical nominal capacity of 400 tonnes per day to 850 tons per day by mechanizing and modernizing its mining operations and processes.

El Roble has proven and probable reserves of 828,000 tonnes grading 2.49 per cent copper and 2.20 g/t gold, at a cut-off grade of 2 per cent copper equivalent; this value is considered for the Zeus, A, B, D, D2, Afrodita and Rosario orebodies and 1.1 per cent is considered for the Maximus, Maximus Sur, Perseo and Goliath orebodies as of March 12,, 2024. Mineralization is open at depth and along strike and the company plans to further test the limits of the deposit.

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

Qualified persons

Mr. Kelly (SME registered member 1696580), adviser to the company and a qualified person under National Instrument 43-101 standards, 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.

Mr. Cruz (AIG registered member 7065), employee of the company and a qualified person under National Instrument 43-101 standards, 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.

About Atico Mining Corp.

Atico is a growth-oriented company, focused on exploring, developing and mining copper and gold projects in Latin America. The company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The company is also pursuing additional acquisition of advanced-stage opportunities.

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