Mr. David Kelley reports

CHAKANA COPPER TO COMMENCE DRILLING AT SOLEDAD PROJECT, PERU

Chakana Copper Corp. is expected to commence its fully financed 15,000-metre drill program at the expanded Soledad project on Aug. 15, 2020. The company has a drill rig on site and initial drilling will focus on the Paloma East and Paloma West breccia pipes before proceeding to the Huancarama breccia complex and may include other high-priority drill-ready targets.

"Our team is very excited to restart drilling at Soledad, where surface and trench samples in this newly permitted area have given us several very impressive gold-rich targets. The work program will also include surface channel sampling of multiple breccia pipes that are expected to be included in an initial resource estimate. We will provide further detailed information on targets once the field program and drilling are under way. As we commence this phase of fieldwork, we would like to reassure all stakeholders that we have a full COVID-19 protocol in place and are working with the local authorities to ensure that all of our employees and communities are safe," stated David Kelley, president and chief executive officer.

About Chakana Copper Corp.

Chakana Copper is a Canadian-based mineral 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.

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