Mr. Jay Chmelauskas reports

CAMINO INTERCEPTS 1.34% CU OVER 25M FROM SURFACE AND 0.79% CU OVER 12.7M IN NEW AREAS OF COPPER MINERALIZATION AT LOS CHAPITOS, PERU

Camino Minerals Corp. has released exploration results from stepout drilling at its Los Chapitos copper property near the coastal city of Chala in the department of Arequipa in Peru. New exploration targets at Diana, Lourdes, Koji Norte and Koji Sur were tested for the first time, where the company is targeting large-scale disseminated manto-type copper mineralization to support resource delineation studies at Los Chapitos and to identify new open-pit copper oxide deposits that could potentially be aggregated into a mine plan. The recently completed drill campaign aimed to expand beyond the previously identified Adriana zone, the main zone of mineralization at Los Chapitos with over 20,000 metres of drilling that is summarized in the company's corporate presentation. Camino and its partner Nittetsu Mining Co. Ltd. plan to commence the next phase of drilling in the second half of 2024.

Highlights of the first phase of drilling:

• Diana mineralized zone:
  • 25 metres at 1.34 percent copper (Cu) and 13.1 grams per tonne (g/t) silver (Ag) from surface in DCH-112.
• Lourdes mineralized zone:
  • 12.7 m at 0.79 per cent Cu from 20.2 m depth, including 4.5 m at 1.37 per cent Cu and 6.24 g/t Ag in DCH-100;
  • The intercept in DCH-100 potentially extends copper oxide mineralization 120 metres along strike connecting to intercepts in the 2022 drill program at Lourdes of:
    • 55.5 m at 0.93 per cent Cu from surface, including 7.5 m at 2.58 per cent Cu in DCH-97; and
    • 5.1 m at 1.32 per cent Cu from 29 m depth in DCH-92.

Jay Chmelauskas, chief executive officer of Camino, said: "We are committed to expanding the boundaries of exploration at Los Chapitos to unlock the potential of our significant land package. The recent success of our stepout drilling campaign has revealed high-grade copper mineralization across significant intervals, underscoring the potential of the copper mineralizing system at Los Chapitos. The discovery of the Diana zone and the extension of the Lourdes zone reaffirm our strategic focus of identifying new deposits that could significantly contribute to our resource delineation studies and ultimately form our mine planning strategies."

The objective of the stepout drilling campaign that was completed in March, 2024, at Los Chapitos was to explore for new zones of oxide copper mineralization. Drill holes targeted new areas more than two kilometres from the known copper mineralization in the Adriana copper zone. The program was designed to test for buried copper stratabound mantos located near the copper-controlling structures like the Diva fault trend. In this first drilling phase, a total of 15 drill holes were completed to depths of approximately 150 metres (to a maximum of depth 256 metres) for a total of 2,225.7 metres drilled. Drilling results are summarized in the table entitled "Table of all drill hole assay results."

The program was successful at identifying or extending two new high-grade copper areas at the Diana and Lourdes zones. At other tested targets, such as Olguita, Melissa Norte or Koji Sur, low-grade strata-bound copper intercepts were encountered, or leaching zones were identified where copper zones had been previously leached, leaving trace remnants of copper. In addition to the planned follow-up drilling program in the fall of 2024, Camino and Nittetsu plan to continue to expand exploration at Los Chapitos to the major mineralized trend at Atajo and surface mapping along the La Estancia trend.

Diana zone drill hole intercepts

Drill hole DCH-112 was collared approximately 15 metres west of a trench that graded 56 m of 1.05 per cent Cu, therefore, it is possible that up to 10 metres of additional copper mineralization was missed in the wall of the drilling platform.

DCH-112 intercepted:

• 25 m at 1.34 per cent Cu and 13.10 g/t Ag from surface; and
• 5.9 m at 0.17 per cent Cu and 5.35 g/t Ag at 34.2 metres.

Three drill holes at Diana tested targets based on geological mapping work, and geochemical sampling of rocks and soils that showed both soil and trench copper and silver anomalies. It is interpreted that stratabound copper extends to drill hole DCH-098, located 100 metres from DCH-112, where stratabound intercepts of 5.5 m at 0.17 per cent Cu and 4.62 g/t Ag at 105.8 metres depth, and 7.3 m of 0.16 per cent Cu in sulphide at 155.5 m. The high-grade intercept in DCH-112 of 1.34 per cent Cu over 25 metres outcrops at surface, is open to the north and south, and at depth, to explore for a copper feeder zone. Diana is located over two kilometres north of the copper mineralized Adriana zone, and 1.5 kilometres northeast of the Lourdes copper intercepts.

Lourdes drill hole intercepts and zone extension

During the 2022 exploration campaign (see news release dated Sept. 7, 2022), Camino achieved its exploration objective of discovering a new copper satellite at the Lourdes target. The results of this exploration campaign can be summarized as:

• 55.5 m at 0.93 per cent Cu from surface, including 7.5 m at 2.58 per cent Cu in DCH-97;
• 65.2 m at 0.70 per cent Cu from surface, including 31 m at 1.23 per cent Cu in DCH-80;
• 19.5 m at 1.34 per cent Cu from 55 m depth, including 7.4 m at 2.32 per cent Cu in DCH-89;
• 5.1 m at 1.32 per cent Cu from 29 m depth in DCH-92;
• 22.6 m at 0.64 per cent Cu from 73 m depth in DCH-96.

The second phase of exploration at the Lourdes target was carried out with five diamond drill holes, in which copper and silver stratiform bodies were intercepted and evaluated by Camino. The program successfully extended the corridor of mineralization by over 120 metres along a new north-south corridor from the Lourdes drill intercepts in 2022, to the new Lourdes intercepts in March, 2024.

DCH-100 intercepted:

• 12.7 m at 0.79 per cent Cu and 3.45 g/t Ag in copper oxides at depth 20.2 metres;
• Surface evidence and geological mapping indicate that this oxide copper mineralization may continue to extend toward the north and the south of current drilling.

The next phase of exploration and drilling plans to focus on structural controls and proximity to intrusive bodies that act as conduits for hydrothermal fluids to create mineralized copper mantos. In addition, primary permeable and secondary permeable (fractures) lithological controls add to the supergene oxidation processes and generate zoning, along with the historical water table that existed in the area.

The DCH drill holes 101, 102, 103, 81 and 97 at Lourdes demonstrate leaching zones, the enrichment of copper oxides and mineralized mantos for further follow up and vectoring, including Melissa Norte that projects to the northwest of the area based on soil studies carried out during geological mapping campaigns in October, 2023.

Sampling and assay procedures

During this campaign, 15 drill holes were completed. Core has been logged and sampled at the company's facilities in the town of Chala, 15 km from the project. Industry-standard chain of custody and quality assurance/quality control (QA/QC) practices are followed with samples sent to Lima where they are analyzed by ICP-MS (inductively coupled plasma mass spectrometry) at ALS Chemex Labs' facility. The Camino geological team complied with the written internal QA/QC procedures, where the insertion of blank samples, certified international standards (pulps) and duplicates met the objectives and acceptable results. Although the results of the QA/QC controls are acceptable, the traceability analysis processes continue mainly for silver values in hole DCH-105, not only in the sampling process but also in the geochemical analysis laboratory.

About Camino Minerals Corp.

Camino is a discovery- and development-stage copper exploration company. Camino is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for a planned exploration drilling program. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper-intensive global economy.

Jose A. Bassan, FAusIMM (CP) 227922, MSc geologist, an independent geologist and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and verified relevant data supporting the technical disclosure, including sampling and analytical test data.

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