Marimaca Copper Corp. provide an update on development activities at the Marimaca Oxide Deposit (the ?MOD?) led by Ausenco Chile (?Ausenco?), and exploration activities at the Sierra de Medina property block, located ~25km from the MOD. The Company has also commenced exploration trenches and surface sampling activities at the Mercedes satellite target (?Mercedes?), located approximately 1km north of the MOD.

Highlights: Permit engineering, led by Ausenco, informed by final baseline studies and updated project layout progressing to plan. The DFS development strategy optimization, led by Ausenco, is near completion. Workstream intended to finalize optimal development strategy for the MOD, focusing on capital intensity and mine planning and targeting a scale-up from the 2020 Preliminary Economic Assessment (?PEA?).

The Company is currently considering strategic options to progress immediately into detailed engineering of the MOD post-DFS in 2025. Definitive Feasibility Study (?DFS?) geo-metallurgical model in final phases of development with confirmatory metallurgical test-work program. To date, four 4m height x 1m diameter column tests each stacked with 1,400 kg of green oxide material completed to generate raffinate for final column test program: Four 4m height columns to finalize optimal crush size for green oxide mineral zones; Four 4m height columns to finalize optimal irrigation rate for green oxide mineral zones; Four 4m height columns confirming optimal parameters set in previous columns for green oxide mineral zones; Fourteen 1m height columns confirming optimal leaching parameters for mixed and enriched mineral zones.