Mr. Fernando Ganoza reports

ATICO MINING UPDATE ON PERMITTING PROCESS FOR THE LA PLATA PROJECT IN ECUADOR

The Ministry of Environment, Water and Ecological Transition (MAATE) (now the Ministry of Environment and Energy) has granted key additional permits and authorizations for Atico Mining Corp.'s La Plata project. These include the environmental licence (EL), registration in the waste and waste generator registry (GDPR), and in the chemical substances registry (RSQ). These milestones represent further progress toward the construction and operation of the La Plata project while reinforcing the company's commitment to regulatory compliance and responsible development.

"The receipt of key permits and authorizations in recent periods, including the EL for the La Plata project, represents the culmination of years of dedicated effort. This includes successful exploration and resource expansion, completion of the environmental impact study in early 2023, and the publication of the NI 43-101-compliant definitive feasibility study in August, 2024," said Fernando E. Ganoza, chief executive officer. "The La Plata project is nearing construction-ready status, with management advancing the remaining auxiliary permits, positioning the project to be ready for a construction decision in the second or third quarter of this year."

Environmental licence

The environmental regularization process for the mining project commenced in March, 2022, with the submission of the environmental impact study (EIA). This comprehensive document provides a detailed technical analysis of all environmental and social components associated with the construction, operation and closure phases of the mine. It assesses potential impacts that may arise from these activities and incorporates a robust environmental management plan (EMP). The EMP outlines specific plans and programs aimed at preventing and mitigating environmental impacts, as well as initiatives for environmental training, continuing monitoring and follow-up, rehabilitation and restoration of affected areas, community relations, and other relevant management measures. Both the EIA and the EMP were developed in full alignment with the highest national and international standards, ensuring technical rigor and strict compliance with applicable environmental regulations.

As part of the process, the EIA underwent extensive socialization through citizen participation mechanisms for environmental consultation, in accordance with the provisions of Ecuador's organic environmental code and its regulations, rulings from the constitutional court, and the core principles of the Escazu agreement, which emphasize access to information, public participation and justice in environmental decision making. The consultation process successfully concluded in August, 2025, with the execution of the environmental consultation itself. During this phase, more than 90 per cent of the population residing in the area of direct influence expressed their support for the granting of the environmental licence for the mining project.

Waste generator registry and chemical substances registry

The company conducted a thorough analysis of the wastes and residues that could be generated throughout mining activities, with the primary goal of establishing an efficient, preventive and fully traceable waste management system, from generation through to final disposal. As a key obligation under the granted authorizations, the company is required to submit to the environmental authority a detailed set of measures and strategies designed to prevent, reduce or minimize the generation of waste and residues. Temporary storage of these materials within the project facilities will be managed under strict technical controls and rigorous safety protocols to ensure the protection of soil and water bodies, prevent any emissions into the environment, and maintain full compliance with applicable environmental regulations.

With respect to the RSQ, the company performed comprehensive studies, laboratory tests and evaluations of alternatives to accurately determine the types and quantities of chemical substances to be used in the metallurgical process for mineral recovery. This technical and operational approach ensures efficient, controlled and environmentally responsible use of these substances. To guarantee proper management, the company is obligated to submit monthly reports to the environmental authority detailing the use, handling, storage and transportation of chemical substances. Additionally, all personnel involved in their handling will receive specific and continuing training on the associated hazards and risks, as well as on the procedures and response actions to be followed in the event of any incident.

The granting of these key permits and authorizations represents a major milestone for the La Plata project, firmly consolidating the company's plans to commence construction of Ecuador's second medium-scale mine this year. It further strengthens Atico's unwavering commitment to developing and operating the project in a responsible and transparent manner. The company remains dedicated to working in close co-ordination with the communities within the area of influence, while fully complying with Ecuadorian legislation, and adhering to the highest international standards and best practices in environmental and social responsibility. During construction and operation activities, the project will generate more than 600 direct employment positions and between 1,200 to 1,800 indirect employment positions in the construction stage and more than 300 direct employment positions, and between 600 and 900 indirect employment positions once in commercial production

About Atico Mining Corp.

Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS (volcanogenic massive sulphide) project in Ecuador. The company is also pursuing additional acquisition of advanced-stage opportunities.

We seek Safe Harbor.