Mr. Timothy Turner reports

BOCANA RESOURCES CORP. COMPLETES 2001.8 METRES IN SEVEN DIAMOND DRILL HOLES AT THE ESCALA GOLD-SILVER PROJECT IN BOLIVIA

Bocana Resources Corp. has completed seven diamond drill holes on the Escala area concession in southwestern Bolivia. The company's inaugural drilling was completed on Oct. 24, 2023, and tested both the Cerro Galapagos and Cerro Blancos areas, as well the Laura zone. The Cerro Galapagos target area hosts a large, multiphased, felsic intrusive complex with extensive alteration and up to four phases of sulphide mineralization observed. Assay results are pending for all holes.

Cerro Galapagos

Cerro Galapagos contains a large, approximately two-kilometre by two km, circular induced polarization (IP) chargeability high, and moderate to high resistivity anomalies.

Four diamond drill holes (HRC 2301 to 2304) were completed for a total of 1,314.7 metres, testing different areas within the Cerro Galapagos area. Cerro Galapagos is a large, felsic porphyry complex containing multiple phases and extensive argillic and phyllic alteration zones.

HRC 2301 tested the southeast corner of the large IP high at the inferred intrusive/volcanoclastic contain. Extensive pyrite and arsenopyrite-pyrite mineralization was encountered in both rock types, indicating at least two phases of mineralization.

HRC 2302 tested the southwest area of the IP chargeability anomaly within the intrusive body. The hole was entirely within the intrusive complex, containing different phases of intrusive activity with the intrusion breccias hosting much of the pyrite and arsenopyrite-pyrite phases of mineralization.

HRC 2303 is located approximately 200 metres north of the central core of the IP chargeability anomaly. The hole was extended by 150 metres due to extent and increasing sulphides concentrations with depth. Several intrusive phases were encountered, most of which were mineralized again by pyrite and arsenopyrite-pyrite phases.

HRC 2304 was added to the program after the visual sulphides concentration in HRC 2303 and is located 100 metres from the HRC 2303 collar location. The hole contains several intrusive phases, including intrusive and intrusion breccia, and a significant increase in hydrothermal breccias. HRC 2304 hosted at least four phases of mineralization with base metal mineralization occurring in the apparently youngest, hydrothermal breccias. Again, most of the rock types encountered were mineralized with pyrite and arsenopyrite mineralization as disseminations and fracture fillings.

Cerro Blanco

HRC-2305 and 2306 were completed for a total of 331.2 metres testing IP, chargeability and resistivity highs. Both holes encountered approximately five m to 10 metres of sediments before encountering a single phase of a quartz eye porphyry. Minor pyrite and chalcopyrite mineralization occurs at the sediment/intrusive contact in both holes, and approximately 30 metres of crackle-fractured intrusive in hole HRC 2306 healed by finer-grained pyrite with traces of chalcopyrite.

Laura zone

HRC 2307 tested an area of known mineralization from historic mining areas and ended at 355.9 metres. The hole encountered a single-phase intrusive body with several narrow fractures healed by mainly pyrite. In the area of the Laura vein, base metal mineralization was also encountered in facture zones less than a metre in thickness.

Core sampling protocols

All drill core samples will be collected under the supervision of company employees. Drill cores are transported from the drill platform to the camp's logging facility where it will be geotechnically and geologically logged, photographed and split by diamond saw prior to being sampled. Samples will then bag, sealed and numbered in order to maintain a chain-of-custody. Company employees also inserted blank, duplicate and a certified standard sample in each batch of 20 samples, prior to transportation from the Escala area camp to the ALS Bolivia Ltda. laboratory site in Oruro, Bolivia. ALS will provide Bocana with sample preparation and analysis services at its ISO/IEC 17025 accredited facilities. The ALS unit in Oruro is ISO 9001:2008 and ISO 17025:2005 accredited, and ALS is the only laboratory in South America that has a high number of analytical methods accredited by ISO IEC 17025, and has the sample preparation stage included in this accreditation.

Qualified person

Lorne Warner, PGeo, is a qualified person as defined by National Instrument 43-101. Mr. Warner has approved the scientific and technical information included in this news release for dissemination.

About Bocana Resources Corp.

Bocana is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in South America. Bocana, through its wholly owned subsidiary, Huiracocha International Service SRL, holds a 100-per-cent working interest in the mineral properties known as the Escala area concessions located at the department of Potosi, Sud Lipez province, Bolivia, as awarded by Comibol.

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