Mr. Antony Amberg of Los Andes reports

LOS ANDES COPPER ANNOUNCES CONVERSION OF US$5 MILLION CONVERTIBLE DEBENTURE

Queen's Road Capital Investment Ltd. is exercising the conversion rights attaching to the $5-million (U.S.) in 8 per cent convertible debentures issued by Los Andes Copper Ltd. (the company) to Queen's Road on June 2, 2021, effective April 8, 2026. The convertible debentures are convertible into common shares of the company at a price of $10.82 per common share.

The principal amount of the convertible debentures plus accrued interest up to but excluding the conversion date is $5,043,333 (U.S.). Applying the current exchange rate of $1 (U.S.) equals $1.37 (Canadian), the conversion amount in Canadian dollars is $6,909,366.

Under the terms of the indenture governing the convertible debentures, the maximum number of common shares of the company which may be issued on conversion of the debentures without further TSX Venture Exchange approval is 558,502 common shares, which correspond to $6,042,991 of the conversion amount, leaving a difference of $866,375 of the conversion amount outstanding. The corporation will be applying to the TSX-V for the approval of the conversion of $866,375 of the conversion amount into common shares at $10.82 for a total of 80,071 common shares, bringing the total number of shares issuable on conversion of the conversion amount to 638,573 common shares.

About Queen's Road Capital Investment Ltd.

Queen's Road is a dividend-paying, leading financier to the global resource sector. The company is a resource-focused investment company, making investments in privately held and publicly traded companies. The company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in politically safe jurisdictions.

About Los Andes Copper Ltd.

Los Andes is an exploration and development company with a 100-per-cent interest in the Vizcachitas project in Chile. The company is focused on progressing the project, which is located along Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors, and the company believes it will be Chile's next major copper mine.

The project is a copper-molybdenum porphyry deposit, located 150 kilometres north of Santiago, in an area of very good infrastructure. An independent technical report for the prefeasibility study, prepared in accordance with National Instrument 43-101, is available on the company's SEDAR profile.

Los Andes is listed on the TSX-V under the ticker LA.

Qualified person

Antony Amberg, CGeol, FGS, the company's interim CEO, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.

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