An anonymous director reports

MARIMACA FILES TECHNICAL REPORT ON UPDATED MINERAL RESOURCE ESTIMATION

Marimaca Copper Corp., further to its news release dated May 18, 2023, has filed a technical report in accordance with Canadian Securities Administrator's National Instrument 43-101 -- Standards of Disclosure for Mineral Projects on the Marimaca copper project, titled "Updated Mineral Resource Estimation for the Marimaca Copper Project, Antofagasta Region, Chile." The technical report is dated June 26, 2023, with an effective date of May 18, 2023, and is available under the company's profile on SEDAR.

The 2023 MRE incorporates 28,374 metres of new drilling data completed since the company's previous technical report for the Marimaca copper project having an effective date of Oct. 13, 2022, and filed on Nov. 28, 2022. The Marimaca oxide deposit (MOD) database now consists of 139,164 m of drilling completed since discovery in 2016. New drilling data captured following the 2022 MRE were largely targeted at conversion of inferred resources to the measured and indicated categories.

Qualified person

The technical information in this news release, including the information related to drilling, modelling and resource estimation, and the application of technical and economic parameters, has been reviewed and approved by Luis Oviedo, PGeo, an independent consulting geologist with more than 45 years of experience. Mr. Oviedo is a member of the Colegio de Geologos and the Institute of Mining Engineers of Chile, and is an independent qualified person as defined by NI 43-101.

Mr. Oviedo confirms he has visited the project area, has reviewed relevant project information, is responsible for the information contained in this news release and consents to its publication.

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