Mr. Mike Haworth reports

MARIMACA APPOINTS GIANCARLO BRUNO LAGOMARSINO AS NON-EXECUTIVE DIRECTOR

Marimaca Copper Corp. has appointed Giancarlo Bruno Lagomarsino as a non-executive director with immediate effect.

Mr. Lagomarsino, a mechanical engineer by training, is a seasoned mining professional with extensive experience across the mining value chain from maintenance, safety and mine management, up to senior operational management positions of some of the most important copper mines in Chile.

Mr. Lagomarsino is a Chilean national and has spent all his 35-year career in Chilean copper operations. He commenced his career at the Los Bronces mine, then owned by Exxon, in 1988. Over the course of the next 20 years, he worked across numerous operations and various roles, finishing with Anglo American as operations vice-president of its Collahuasi mine and, finally, vice-president of the Anglo Norte business unit, prior to its sale in 2015.

Mr. Lagomarsino was a member of the consortium that acquired Anglo Norte and became chief executive officer of the entity, Mantos Copper SA, in June, 2015. In that role, Mr. Lagomarsino was a key member of the team that improved and expanded operations at Mantos Blancos, delivered significant exploration success, and financed and commenced construction of the Mantoverde project, which is expected to commission in late 2023. Most recently, Mr. Lagomarsino was senior vice-president of Capstone Copper, in charge of its Chilean operations.

Mike Haworth, non-executive chairman of Marimaca Copper, commented:

"As we enter a pivotal moment in our transition to producer, the addition of Giancarlo to our board adds immense, recent experience in developing and operating large-scale copper mines in Chile and we welcome him to the company.

"Mantos Copper, and Mantoverde in particular, have been remarkable successes, which we hope to emulate as we continue our development journey. Constructing a large and complex project through the pandemic, and delivering virtually on time and budget, as was achieved with Mantoverde, should be applauded and we hope to utilize Giancarlo's experience to the full benefit of our stakeholders."

Mr. Lagomarsino, commented:

"Marimaca is one of the projects i have followed closely in the Chilean copper space, and I believe it has the potential to be a mine in the near future. I have operated extensively in Chile, including in the Antofagasta region, and can't stress enough the value of having a well-located project in terms of execution and operational risk. In that regard, Marimaca is among the best that I have seen.

"I am excited to continue my involvement in the Chilean copper sector and, hopefully, to impart my knowledge and guidance to the Marimaca team as they enter this exciting phase."

About Mr. Lagomarsino:

• Nationality:
  • Chilean.
• Formal studies:
  • Mechanical engineering -- Universidad Tecnica Federico Santa Maria;
  • Expert in safety for the mining industry -- Sernageomin.
• Professional experience:
  • 1988 to 1993: Mine maintenance analyst (Los Bronces/Exxon);
  • 1993 to 1998: Safety and winter operations manager (Los Bronces/Exxon);
  • 1998 to 2003: Mine manager (Los Bronces/Exxon);
  • 2003 to 2005: General manager, Mantos Blancos (Anglo American);
  • 2005 to 2008: General manager, El Soldado (Anglo American);
  • 2008 to 2012: Operations vice-president, Collahuasi (Anglo American, Xstrata, Mitsui);
  • 2012 to 2015: Operations vice-president, Anglo Norte (Anglo American);
  • 2015 to 2022: Chief executive officer, Mantos Copper (Orion, Audley Capital, Mitsubishi Materials);
  • 2022 to 2023: Senior vice-president, Chile (Capstone Copper).

About Marimaca Copper Corp.

Marimaca Copper is a Canadian publicly listed exploration and development company focused on developing the Marimaca project, an oxide, open-pit, heap leach copper project located in the Antofagasta region of northern Chile.

We seek Safe Harbor.