Candelaria Achieves U.S. Market Upgrade to OTCQX

Candelaria Mining Corp. (TSX-V: CAND, OTCQX: CDELF) (the " Company ") is pleased to announce approval of its application for an upgrade to the OTCQX Best Market (the " OTCQX "). The Company will commence trading on the OTCQX at market open on November 5, 2021, remaining under the symbol "CDELF". Previously, the Company's U.S. share trading was on OTC Pink.

The OTCQX provides value and convenience to U.S. investors, brokers and institutions seeking to trade CDELF. The OTCQX is OTC Markets Group's premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

Mike Struthers, CEO, commented: "As the next step in increasing our trading liquidity and enhancing our capital markets profile, we are very pleased to report our elevation to the OTCQX Market. This will increase trading access for our U.S. investors, and also serves as recognition of our enhanced governance and reporting standards."

ON BEHALF OF THE BOARD
Mike Struthers
CEO
+1 604 349 5992

For further information, please contact:

Candelaria Mining Corp.
Investor Relations
+1 604 349 5992 | info@candelariamining.com

Cautionary Note Regarding Forward-looking Statements: This press release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities laws. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to the terms, the use of proceeds and the timing of closing of the Offering. Forward-looking statements are based on the opinions and estimates as at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changes in market conditions or metals prices, unanticipated developments on the Company's properties, and other risks described in the Company's public disclosure documents available under the Company's profile at www.sedar.com .

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