Atico Mining Corporation Announces EIA approval for its 100% owned La Plata Project in Ecuador

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTC: ATCMF) is pleased to announce that it has received approval of the Environmental Impact Assessment ("EIA") for the construction and operations of its La Plata mining project located in Ecuador (the "La Plata project").

The La Plata project has been identified by President of Ecuador, Guillermo Lasso as a strategic project and a component of the country's reactivation plan. As a part of this plan, President Lasso has committed to accelerating the restart of the country's economy by leveraging the potential of its mining industry while positioning Ecuador as a major mining investment destination in Latin America.

The EIA baseline process started over 3 years ago and involved independent environmental experts as well as qualified professionals mostly from Ecuador, Canada, Peru as well as from our El Roble mine operation which has been recognized as one of the safest mines in Colombia.

The La Plata project plan consists of a 900 tpd underground mining operation with state of the art infrastructure, the most significant infrastructure being the construction of a filtered tailings facility a first of its kind in Ecuador. This technology, already used at our El Roble mine in Colombia, allows for efficient use of water by significantly reducing water consumption through recirculating almost all of the water needs for the processing plant.

Mr. Alain Bureau, President of Atico Mining stated, "Our Team is very pleased to announce the receipt of the EIA approval for the La Plata project. This announcement is the culmination of a lengthy scientific process to identify every aspect of the project that could be optimized and provide solutions allowing for a responsible mining operation. We also wish to acknowledge the extensive efforts of our employees, consultants, surrounding communities and the support from the Ecuadorian environmental authorities."

The approval of the EIA is a key milestone towards allowing the Company to begin construction of the new process plant facility. This approval enables the Company to advance on its normal course in order to complete the underlying licenses and secondary permits necessary. The La Plata project also includes the upgrade of other infrastructures including the upgrade of the access road, a 69kV powerline and a flotation plant with its filtered tailing facilities. The GAD and Water Management Association of the region are presently working on water infrastructures projects. These water projects will permit the upgrade and modernization of the existing water supply facilities providing a better quality of water delivered to operations and the surrounding communities.

Atico Mining's success and culture are based on investing in sustainable development in communities where it operates through responsible mining with a tremendous emphasis on the surrounding environment.

About Atico Mining Corporation

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 it's high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.

ON BEHALF OF THE BOARD

Fernando E. Ganoza
CEO
Atico Mining Corporation

Trading symbols: TSX.V: ATY | OTCQX: ATCMF

Investor Relations
Igor Dutina
Tel: +1.604.633.9022

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ''U.S. Securities Act''), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company's mineral projects; uncertainty of meeting anticipated program milestones for the Company's mineral projects; the world-wide economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to such pandemic or other issues; and other risks and uncertainties disclosed under the heading "Risk Factors" in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com

Click here to connect with Atico Mining Corporation (TSX.V: ATY | OTC: ATCMF) to receive an Investor Presentation

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Atico Reports Consolidated Financial Results for First Quarter of 2024

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTC: ATCMF) today announced its financial results for the three months ended March 31, 2024, posting income from mining operations of $2.8 million and a net loss of $0.4 million. Production for the period at Atico's El Roble mine totaled 3.3 million pounds ("lbs") of copper and 2,185 ounces ("oz") of gold in concentrate at a cash cost (1) of $2.57 per payable pound of copper (2) .

Fernando E. Ganoza, CEO and Director, commented, "the operational and financial results for this quarter were in line with Company expectations. We are already into development of the newly discovered reserves and have been making additional investments in preparation for ore extraction from these areas." Mr. Ganoza continued, "for the remainder of the year, we should start to see an improvement in our operating costs as we progressively gain access to mining the upper areas of the mine, while at the same time the recent increase in metals prices, particularly in copper should be positively reflected in our revenue and margin."

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Atico Produces 3.34 Million Pounds of Cu and 2,156 Ounces of Au in First Quarter 2024

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended March 31, 2024 from its El Roble mine. Production for the quarter totaled 3.34 million pounds of copper and 2,156 ounces of gold in concentrates, an increase of 44% for copper and a decrease of 16% for gold, respectively, over the same period in 2023.

"The El Roble mine operated in line with set expectations for this quarter as we improved on almost all metrics over the same period last year," said Fernando E. Ganoza, CEO. "For the remainder of the year, the team will be focused on optimizing production to take advantage of the higher metal price environment and to deliver on this year's set guidance. In parallel, we continue to drill new high-grade resources in the mine vicinity target areas. These new areas will be incorporated into our mine plan as well as the new resource update which is planned to be published imminently."

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Atico Reports Consolidated Financial Results for 2023

(All amounts expressed in US dollars, unless otherwise stated)

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTC: ATCMF) today announced its financial results for the year ended December 31, 2023, posting income from mining operations of $7.4 million and a net loss of $5.8 million. Production for the year at Atico's El Roble mine totaled 13.2 million pounds ("lbs") of copper and 10,149 ounces ("oz") of gold in concentrate at a cash cost ( 1) of $2.04 per payable pound of copper (2) .

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Atico Reports Multiple High Grade Intercepts up to 20.70m of 5.76% Cu, 4.46 g/t Au and 11.50m of 8.16% Cu, 8.09 g/t Au and Continues to Extend the Ore Body at El Roble Mine in Colombia

Atico Mining Corporation (TSX.V: ATY | OTCQX: ATCMF) ("Atico" or the "Company") is pleased to announce positive results for the latest 49 drill holes being carried out in an area of historical mining to expand tonnage at the El Roble mine. In addition, the Company reports the results for sixteen diamond drill core holes (see first table below), which included 20.70m of 5.76% Cu, 4.46 gt Au and 11.50m of 8.16% Cu, 8.09 gt Au. Ore grade intercepts in another fourteen drill holes are also reported over narrower widths of approximately 1 to 2 meters in areas with limited drilling which highlights the possibility of further extending the ore body with additional drill programs.

News Provided by GlobeNewswire via QuoteMedia

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Top 5 Canadian Mining Stocks This Week: Euro Sun Gains 54 Percent as Copper Hits New High

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Hillgrove Accelerates Nugent Copper Deposit Development, Raises AU$16 Million

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The company secured AU$13 million through a placement to institutional and sophisticated investors, and raised AU$3 million via a share purchase plan that was open to existing shareholders.

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Kiribati Explores Deep-Sea Mining Deal with China Amid Global Regulatory Talks

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Parameter	Algorithm	Models	Parameter	Algorithm	Models
Bulk conc recovery, % - Au		58	Zn conc Recovery, % - Au		12
Bulk conc recovery, % - Ag	Cu>=3.33	69.3	Zn conc Recovery, % - Ag	Cu>=3.33	8.1
Bulk conc recovery, % - Ag	Cu	53.5	Zn conc Recovery, % - Ag	Cu	21.1
Bulk conc recovery, % - Cu	Cu>=3.33	92.64	Zn conc Recovery, % - Cu	Cu>=3.33	1.73
Bulk conc recovery, % - Cu	Cu	79.53	Zn conc Recovery, % - Cu	Cu	9.65
Bulk conc recovery, % - Pb	Cu>=3.33	87.05	Zn conc Recovery, % - Pb	Cu>=3.33	4
Bulk conc recovery, % - Pb	Cu	max(0.6675-0.0639(Cu/Zn),0.474)*	Zn conc Recovery, % - Pb	Cu	12.9
Bulk conc recovery, % - Zn	Fe>=9.34	59	Zn conc Recovery, % - Zn	Fe>=9.34	33.1
Bulk conc recovery, % - Zn	Fe	18.2	Zn conc Recovery, % - Zn	Fe	70.7

Resource Classification	Tonnes (t) (Mt)	CuEq (%)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)
*Indicated*
North Block	1.148	5.21	2.61	30	2.44	0.36	2.66
South Block	1.014	6.00	3.79	56	1.84	0.70	3.85
Guatuza	0.183	2.66	0.75	9	1.78	0.10	1.04
Total	2.345	5.36	2.98	40	2.13	0.49	3.05
*Inferred*
North Block	0.022	3.43	2.16	29	0.97	0.43	2.54
South Block	0.308	3.24	1.81	42	0.91	0.44	2.45
Guatuza	0.051	2.51	1.16	17	1.23	0.19	1.24
Total	0.380	3.16	1.75	38	0.96	0.41	2.29

	^{*Notes on Mineral Resources:}
^1.	^{The Mineral Resource described above have been prepared in accordance with the CIM Standards (Canadian Institute of Mining, Metallurgy and Petroleum, 2014) and follow the Best Practices outline by the CIM (2019).}
^2.	^{The Qualified Person (QP) for this Mineral Resource Estimate is Christian Beaulieu, P.Geo. consultant for G Mining Services inc. Mr. Beaulieu is a member of the l'Ordre des géologues du Québec (#1072).}
^3.	^{The lower cut-offs for reporting underground mineral resources are US$70 NSR for Long Hole and US$90 NSR for Cut and Fill/Room and Pillar projected mining methods. The NSR was calculated based on the following assumptions (described in detail in Section 15 and Table 15.3 of the ucoming Technical Report except for different commodity prices):}
	^{Commodity price assumptions: Gold = US$1,900 per ounce, Silver = US$26.50 per ounce, Copper = US$4.50 per lb, Zinc = US$1.40 per lb, Lead = US$0.92 per lb.}
	^{Various project related economic assumptions considered, including sale terms and conditions (% payables by metal and concentrate type, treatment and refining costs ($88/dmt, $0.09/lb Cu, $0.60/oz Ag, 0.8% Gold price with min $8/oz Au), penalties ($2/dmt min. for Pb and Zn)), transportation costs ($68/t).}
^4.	^{Metal grades outlined above have not been adjusted for metallurgical recoveries. Copper Equivalent grade calculation (CuEq) is based on metal prices above and has not been adjusted for metallurgical recoveries or related economic assumptions as presented above.}
^5.	^{The La Plata deposit has been classified as Indicated and Inferred Mineral Resources depending on drill spacing and estimation pass. No Measured Mineral Resources are quoted.}
^6.	^{Known underground workings have been incorporated into the block model with a zero-density value within voids to exclude them from the resource tabulation.}
^7.	^{Bulk Density has been estimated in the block model using ID2 from drill core measurements. Other geological units were assigned by lithology and weathering types.}
^8.	^{A minimum thickness of 1.5 m was used when interpreting the wireframes. Areas of isolated clusters of blocks and where minimum thickness was not reached have been removed from the calculations.}
^9.	^{The tonnages and grades outlined above are reported inside a block model with a parent block size of 5 m x 5 m x 3 m, and subblocks 1 m x 1 m x 1 m.}
^10.	^{Tonnage and metal content have been expressed in the metric system, except for gold and silver metal content which is expressed in troy ounces. Tonnages have been rounded to the nearest 1,000 tonnes, and metal content has been rounded to the nearest 100 tonnes or 1,000 ounces. Differences may occur in totals due to rounding.}
^11.	^{Mineral resources are not mineral reserves as they have not demonstrated economic viability. The quantity and grade of reported inferred mineral resources are uncertain in nature. The QP is not aware of any factors or issues that materially affect the MRE other than normal risks faced by mining projects in the country in terms of environmental, permitting, taxation, socio-economic and marketing factors, and additional risk factors regarding indicated and inferred resources. Political and social factors that may influence the MRE is the current instability in the country of Ecuador related to the recent events tied to drug trafficking, which may affect market perception of the project's risk profile;}
^12.	^{There is no guarantee Mineral Resources will become Mineral Reserves and no guarantee that Mineral Resources will be mined.}

Reserve Category	Tonnes (t) (Mt)	CuEq (%)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)
Probable
	2.51	3.51	2.28	30.41	1.59	0.36	2.18

	^{Notes on Mineral Reserves:}*
^1.	^{Mineral Reserves are as defined by CIM definition Standards on Mineral Resources and Mineral Reserves 2014.}
^2.	^{The Mineral Reserves were estimated from the Indicated Mineral Resource estimates. Inferred Mineral Resources were not considered to be converted into Mineral Reserve estimates.}
^3.	^{Mineral Reserves are reported using an NSR breakeven cut-off value of 70 US$/t for bench and fill (Long Hole) and 90 US$/t for Cut and Fill/Room and Pillar projected mining methods;}
^4.	^{Metal prices used were US$1,800.00/troy ounce Au, US$23.00/troy ounce Ag, US$4.00/lb Cu, US$0.92/lb Pb and US$1.30/lb Zn;}
^5.	^{Metal grades outlined above have not been adjusted for metallurgical recoveries. Copper Equivalent grade calculation (CuEq) is based on metal prices above and has been adjusted for metallurgical recoveries.}
^6.	^{The Mineral Reserve estimates were prepared by Mr. Thomas Kelly, RM-SME, president of Andes Colorado Corp., who is a Qualified Person for the estimate and independent of Atico Mining and its subsidiaries. The estimate has an effective date of July 5, 2023;}
^7.	^{Modifying factors for conversion of resources to reserves included consideration for planned dilution which is based on spatial and geotechnical aspects of the designed stopes and economic zones, additional dilution consideration due to unplanned events, materials handling and other operating aspects, and mining recovery factors. Mineable shapes were used as geometric constraints;}
^8.	^{Reserves are estimated based on mining material that can be mined, processed and smelted;}
^9.	^{Values are rounded and may differ from those presented in the press release. Totals may not sum precisely due to rounding;}
^10.	^{Inclusion of ore blocks in the Mineral Reserve does not guarantee that they will be mined;}
^11.	^{Figures in the table are rounded to reflect estimate precision; small differences are not regarded as material to the estimate;}
^12.	^{There is no guarantee that Mineral Reserves will be mined.}

Capital Costs (Excluding VAT)
Initial Capital	$91	million
LOM Sustaining Capital	$30	million
Total LOM Capital	$ 121	million
Working Capital & Initial Fills	$2	million
Closure Costs	$1	million

Operating Costs (Average LOM)
Mining (moved)	$34.38	/Tonne moved
Mining (processed)	$44.39	/Tonne processed
Processing & Support	$32.40	/Tonne processed
G&A	$14.24	/Tonne processed
Total Operating Cost	$ 91.03	/Tonne processed

Production Data
Life of Mine	8.1	Years
Mine Throughput per day	850	Tonnes/day
Mine Throughput per year	310,250	Tonnes/year
Total Tonnes to Crusher	2,506,009	Tonnes
Grade Au (Avg.)	2.28	g/t
Grade Ag (Avg.)	30.41	g/t
Grade Cu (Avg.)	1.59	%
Grade Zn (Avg.)	2.18	%
Total Gold Produced	128,474	Ounces
Total Silver Produced	1,825,143	Ounces
Total Copper Produced	78,297,363	Pounds
Total Zinc Produced	106,869,075	Pounds
Total Payable Gold	114,935	Ounces
Total Payable Silver	1,383,519	Ounces
Total Payable Copper	66,691,030	Pounds
Total Payable Zinc	66,700,898	Pounds
LOM Underground Strip Ratio (W:O)	0.29

Base-Case
Gold Price Assumption	$1,920		/Ounce
Silver Price Assumption	$23		/Ounce
Copper Price Assumption	$4.05		/Pound
Zinc Price Assumption	$1.50		/Pound
Average Annual Cashflow (Pre-Tax)	$38		million
Average Annual Cashflow (After-Tax)	$31		million
Internal Rate of Return (IRR), Pre-Tax		32.9%
Internal Rate of Return (IRR), After-Tax		25.1%
NPV @ 5% (Pre-Tax)	$137		million
NPV @ 5% (After-Tax)	$93		million
Pay-Back Period (Rears based on After-Tax)		3.4	Years

June 2024 Average Prices
Gold Price Assumption	$2,325		/Ounce
Silver Price Assumption	$29		/Ounce
Copper Price Assumption	$4.45		/Pound
Zinc Price Assumption	$1.27		/Pound
Average Annual Cashflow (Pre-Tax)	$46		million
Average Annual Cashflow (After-Tax)	$35		million
Internal Rate of Return (IRR), Pre-Tax		41.8%
Internal Rate of Return (IRR), After-Tax		31.3%
NPV @ 5% (Pre-Tax)	$184		million
NPV @ 5% (After-Tax)	$123		million
Pay-Back Period (Rears based on After-Tax)		2.8	Years

	Q1 2024			Q1 2023			% Change
Revenue	$	17,818,115		$	12,783,240		39	%
Cost of sales		(15,016,252	)		(10,702,409	)	40	%
Income from mining operations		2,801,863			2,080,831		35	%
As a % of revenue		16	%		16	%
General and administrative expenses		(1,331,172	)		(1,466,716	)	(9	%)
Income from operations		1,292,845			573,062		126	%
As a % of revenue		7	%		4	%
Income (loss) before income taxes		(257,271	)		197,191		(230	%)
Net loss		(365,933	)		(499,670	)	(27	%)
As a % of revenue		(2	%)		(4	%)
Operating cash flow before changes in non-cash operating working capital items ⁽¹⁾	$	5,847,701		$	2,039,380		187	%

	Q1 2024 Total	Q1 2023 Total	% Change
Production (Contained in Concentrates)
Copper (000s pounds)	3,338	2,319	44%
Gold (ounces)	2,156	2,566	-16%
Mine
Tonnes of ore mined	64,873	60,568	7%
Mill
Tonnes processed	65,787	62,793	5%
Tonnes processed per day	811	747	9%
Copper grade (%)	2.51	1.88	34%
Gold grade (g/t)	1.64	2.20	-25%
Recoveries
Copper (%)	91.8	89.2	3%
Gold (%)	62.1	57.9	7%
Concentrates
Copper and Gold Concentrates (dmt)	8,274	5,813	42%

Payable copper produced (000s lbs)	3,137	2,180	44%

	Q1 2024 Total
Amounts in dry metric tonnes
Opening inventory	8,227
Production	8,274
Sales	-9,383
Number of shipments	1
Closing inventory	7,002

Hole	From (m)	To (m)	Interval (m)	Cu (%)	Au (g/t)
ATD-0224	222.00	226.00	4.00	5.33	5.92
ATD-0225	30.40	34.90	4.50	5.24	6.77
ATD-0228	136.70	139.00	2.30	17.15	3.19
ATD-0229	25.50	37.90	12.40	4.45	1.55
ATD-0231	29.70	33.10	3.40	4.31	5.11
ATD-0235	27.50	35.40	7.90	5.07	4.18
ATD-0238	42.10	47.80	5.70	5.61	9.97
ATD-0240	104.80	114.10	9.30	6.09	5.51
ATD-0240	124.00	125.80	1.80	16.97	2.20
ATD-0249	46.15	52.30	6.15	4.57	3.04
ATD-0250	48.20	64.70	16.50	2.66	4.11
ATD-0251	53.90	57.40	3.50	0.59	12.95
ATD-0252	38.60	50.10	11.50	8.16	8.09
ATD-0253	43.40	45.65	2.25	6.36	10.39
ATD-0260	41.20	48.70	7.50	2.71	9.57
ATD-0261	59.10	66.20	7.10	4.16	8.53
ATD-0261	46.20	52.00	5.80	5.71	6.05
ATD-0262	58.15	78.85	20.70	5.76	4.46

	Q1	Q2	Q3	Q4	Total
Production (Contained in Concentrates) ⁽³⁾
Copper (000s pounds)	2,310	2,803	3,762	4,367	13,242
Gold (ounces)	2,553	2,313	2,705	2,578	10,149
Silver (ounces)	8,335	7,826	9,979	10,810	36,949
Mine
Tonnes of ore mined	60,568	72,340	77,947	78,132	288,987
Mill
Tonnes processed	62,793	68,471	74,580	73,030	278,874
Tonnes processed per day	747	799	888	853	825
Copper grade (%)	1.87	2.04	2.46	2.89	2.34
Gold grade (g/t)	2.23	1.80	1.83	1.75	1.89
Silver grade (g/t)	11.20	9.98	10.13	9.86	10.26
Recoveries
Copper (%)	89.2	90.6	93.0	93.9	91.8
Gold (%)	57.0	58.4	61.9	62.7	60.1
Silver (%)	37.5	36.6	41.0	47.0	40.7
Concentrates
Copper Concentrates (dmt)	5,815	6,789	9,336	10,727	32,667
Copper (%)	18.0	18.7	18.3	18.5	18.4
Gold (g/t)	13.7	10.5	9.0	7.5	9.7
Silver (g/t)	44.8	34.9	33.2	31.3	35.0

Payable copper produced (000s lb)	2,169	2,639	3,536	4,108	12,451
Cash cost per pound of payable copper ⁽¹⁾⁽²⁾ ($/lb)	2.20	2.22	1.97	1.91	2.04

_{⁽¹⁾ Alternative performance measures; please refer to "Non-GAAP Financial Measures" at the end of this release.}
_{⁽²⁾ Net of by-product credits}
_{⁽³⁾ Subject to adjustments on final settlement}

Atico Mining Corporation Announces EIA approval for its 100% owned La Plata Project in Ecuador

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