Mr. Santiago Montt reports

LOS ANDES COPPER ANNOUNCES ELECTION TO ISSUE COMMON SHARES IN SATISFACTION OF US$14 MILLION CONVERTIBLE DEBENTURE INTEREST PAYMENT OBLIGATIONS

Los Andes Copper Ltd., in accordance with the terms of the $5-million (U.S.), $4-million (U.S.) and $5-million (U.S.) of 8 per cent convertible debentures issued to Queen's Road Capital Investment Ltd. on June 2, 2021, April 4, 2022, and Sept. 2, 2022, has elected to issue 16,853 common shares in the capital of the company at a deemed price of $6.23 (U.S.) ($8.76 (Canadian)) to Queen's Road Capital Investment Ltd. as payment for $104,994 (U.S.) ($147,632 (Canadian)) in interest owing on the convertible debentures.

Under the terms of the convertible debentures, interest is payable quarterly, 5 per cent in cash and 3 per cent in shares, at the greater of: (i) the 20-day volume weighted average price prior to the interest payment date; or (ii) the discounted market price (as such term is defined in the policies of the TSX Venture Exchange).

The issuance of the common shares as payment for interest owing on the convertible debentures is subject to the terms and conditions of the convertible debentures, as well as the receipt of all requisite approvals, including, without limitation, the approval of the TSX-V.

About Queen's Road Capital Investment Ltd.

Queen's Road Capital is a leading financier to the global resource sector. The company is a resource focused investment company, making investments in privately held and publicly traded resource companies.

It is intended that the company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.

Queen's Road Capital is listed on the TSX-V under the ticker QRC.

About Los Andes Copper Ltd.

Los Andes Copper is an exploration and development company with a 100-per-cetn interest in the Vizcachitas project in Chile. The company is focused on progressing the project, which is located along Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the company believes it will be Chile's next major copper mine.

The project is a copper-molybdenum porphyry deposit, located 150 kilometres north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS (prefeasibitily study), prepared in accordance with National Instrument 43-101, is available on the company's SEDAR+ profile.

Los Andes Copper is listed on the TSX-V under the ticker LA.

Qualified persons

Antony Amberg, CGeol, FGS, the company's chief geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.

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