Mr. David Kelley reports

CHAKANA APPLIES TO EXTEND AND RE-PRICE WARRANTS

Chakana Copper Corp. has applied to the TSX Venture Exchange to extend the term of 28,369,789 common share purchase warrants currently set to expire on May 20, 2024, and June 21, 2024, to Oct. 31, 2024. The warrants were originally issued pursuant to a private placement of units completed by the company on May 20, 2022, and June 21, 2022. The company has also applied to amend the price of the warrants currently priced at 20 cents to 11 cents.

The amendment to extend the expiry date of the warrants to Oct. 31, 2024, and the exercise price of the warrants from 20 cents to 11 cents is subject to the approval of the TSX-V.

About Chakana Copper Corp.

Chakana Copper is a Canadian-based minerals exploration company that is currently advancing the Soledad project located in the Ancash region of Peru, a highly favourable mining jurisdiction with supportive communities. The Soledad project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes and other intrusion-related styles of mineralization. An initial inferred resource estimate for seven breccia pipes was announced in January, 2022 (see news release dated Feb. 23, 2022), with 6.73 million tonnes containing 191,000 ounces of gold, 11.7 million ounces of silver and 130 million pounds of copper. In addition, extensive multidisciplinary exploration has defined 154 exploration targets, 28 of which have been tested to date (18 per cent), confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana's investors are uniquely positioned as the Soledad project provides exposure to base and precious metals.

Qualified person

David Kelley, an officer and a director of Chakana, and a qualified person as defined by NI 43-101, reviewed and approved the technical information in this news release.

We seek Safe Harbor.