Marimaca Copper Corp. announced the completion of the infrastructure condemnation drilling program. The program was designed to test and confirm the planned site layout to be incorporated into the Company's ongoing permitting and Definitive Feasibility Study workstreams. Drilling targeted key areas defined for planned site infrastructure to confirm absence of mineralization and suitability for development.

Highlights: Twenty-one reverse-circulation ("RC") drill holes completed across the planned Marimaca Project infrastructure areas. Drilling was designed to confirm the absence of potential mineralization at these areas, as well as rock suitability for development. Drilling confirmed suitability of planned layout for plant site, heap leach pads, waste dumps, site offices and ripios dumps (spent heap leach ore).

layout will be incorporated into the design component of the ongoing Definitive Feasibility Study, led byusenco. Drill hole, SLR-08, drilled south of the planned plant facilities in the San Lorenzo district, intersected 30m at 0.99% CuT from 62m within a broader zone of 68m at 0.51% CuT from 62m. Rep represents a new zone of mineralization encountered at the Marimaca Project.

San Lorenzo is located approximately 4km from the Marimaca Oxide Deposit and represents a separate and distinct mineralized zone. Results will be incorporated into future exploration plans and continue to demonstrate the significant discovery potential and exploration optionality at the broader Marimaca Project. Initially planned for one of two initial areas identified for ripios dumps, the San Lorenzo area will be evaluated further for mineralization potential to ensure operational flexibility for future development.

The Marimaca Oxide Project DFS remains on schedule for late 2024 completion with permit submissions targeting the middle of 2024. Program Objectives: The condemnation program totaled 3,350m across 21 drill holes completed over two sectors, east and west of the MOD. The west sector targeted the areas planned for the waste dump and run-of-mine leach facilities, while the east sector covered areas planned for the installation of the crushing, SX-EW, heap leaching, ripios dumps and office areas.

A high-resolution mag-drone survey was completed in advance of the drilling program to identify priority areas (within the planned infrastructure zones) for drilling. Based on results from the program, the entirety of the west sector can proceed with planned DFS design due to lack of prospective mineralization. The zone corresponds to the outermost western halo of Marimaca's IOCG alteration-mineralization system and is considered low potential for hosting mineralized zones of sufficient scale.

A total of 8 drill holes totaling 1,200m were completed in the western sector. Mineralization appears to be hosted by veins and veinlets controlled by the contact regions of dykes and host monzodiorite. The nature of the lithology, alteration and mineralization assemblages resembles an IOCG system similar to that of the MOD.

No prior drilling has been completed in this area. No prior drilling has been completing in this area.