Mr. David Kelley reports

CHAKANA COPPER ANNOUNCES GRANTING OF EXPANDED DRILL PERMIT AT SOLEDAD PROJECT, PERU

Chakana Copper Corp. has been granted final Peruvian government approval of the initiation of activities for the semi-detailed environmental impact assessment (EIASD) covering the central part of the expanded Soledad project. This permit allows the company to expand and accelerate its exploration program into some of the highest priority areas that have demonstrated significant surface and geophysical anomalies that have not been previously drilled. A fully financed 15,000-metre exploration drill program is already defined and will focus on testing several targets including the Paloma East and Paloma West breccia pipes, and the Huancarama breccia complex. The company anticipates commencing the drill program once COVID-19 work protocols are approved.

"This is a significant milestone for the company as it will be the first time that we have had the opportunity to drill these very promising targets in the central part of the Soledad project. We also look forward to providing shareholders with more information on these drill targets once work commences. In the meantime, we continue to work closely with the local health authorities regarding COVID-19 protocols that will be implemented with the upcoming drill program," stated David Kelley, president and chief executive officer.

About Chakana Copper Corp.

Chakana Copper is a Canadian-based minerals exploration company that is currently advancing the expanded Soledad copper-gold-silver project in the Ancash region of the highly prolific Miocene mineral belt of Peru. The Soledad project consists of high-grade copper-gold-silver mineralization hosted in tourmaline breccia pipes. A total of 30,273 metres of drilling have been completed to date, testing seven of 23 confirmed breccia pipes.

Qualified person

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

We seek Safe Harbor.