VANCOUVER, British Columbia–(Newsfile Corp. – April 11, 2023)- Los Andes Copper Company (TSXV: LA) (OTCQX: LSANF) (“Los Andes” or “company“) is 100% owned by the Vizcachitas project (“Viscacitus” or “plan“) is the February 23, 2023 news release (“PFSThe PFS entitled “Vizcachitas Project Pre-Feasibility Study Valparaíso Region, Chile NI 43-101 Technical Report”, dated 30 March 2023, has been submitted by Tetra Tech for Los Andes with an effective date of 20 February 2020. created.Filed under company profile at www.sedar.com.

PFS highlights include:

• 1.22 billion tons of proven and probable reserves at 0.36% copper, 136 parts per million (“ppm”) molybdenum, 1.1 grams per tonne (“g/t”) silver. 0.40%.
  • Proved reserves of 302 million tons (Mt) at 0.41% copper, 135 ppm molybdenum and 1.2 g/t silver.
  • Estimated reserves of 918Mt at 0.34% copper, 136 ppm molybdenum and 1.1 g/t silver.

• 16% increase in measured and indicated resources from the company’s preliminary economic assessment dated 13 June 2019 to £14.8 billion (‘£’) CuEq.
  • 2.605b pounds of copper, 84 million pounds of molybdenum and 11 million ounces (“Moz”) of silver metered resources.
  • Indicated resources of 10.416 billion pounds of copper, 442 million pounds of molybdenum, and 43Moz of silver.
  • Estimated Resource increased 130% to 15.4 billion pounds CuEq (13.747 billion pounds copper, 495 million pounds molybdenum and 55 Moz ounces silver).

• Based on a new plant design with a mill throughput of 136,000 tons per day, a 26-year mine initial life (“ LOM’).

• Annual average copper production of 183,017 tons (LOM average of 152,883 tons).

• After-tax net present value (NPV) of USD 2,776 million using an 8% discount rate and an internal rate of return (IRR) of 24.2% is USD 3.68/lb for copper, USD 12.90/pound for molybdenum and USD 21.79 for silver /oz, estimated initial capital cost of US$2,441 million, construction period of 3.25 years, payback period from initial production of 2.5 years.

• The use of desalinated water eliminates the need to use continental water. Using filtered dry-laid tailings reduces water consumption by approximately 50%, eliminates the need for tailings dams, and minimizes seismic and environmental risks.

• Uses high pressure grinding roll (HPGR) technology to reduce power consumption by approximately 25% compared to conventional designs. Scope 1 CO2 emissions are projected to be 1.02 h CO2e/t CuEq and Scope 2 emissions are projected to be 0.

The PFS assumed copper, molybdenum and silver prices of US$3.68 per pound of copper, US$12.90 per pound of molybdenum and US$21.79 per troy ounce of silver, resulting in the following Mineral Resources and Mineral Reserves: . Copper will contribute 88% of the projected net income from the project, followed by molybdenum at 10%, with silver credits from copper concentrates making up the remainder.

mineral reservesNote:

1. Mineral reserves were classified using the CIM Definition Criteria (2014) and the CIM Inferred Mineral Resources and Mineral Reserves Best Practice Guidelines (2019).

2. Effective Date for Mineral Reserves is December 2, 2022.

3. Mineral reserves are included in Mineral Resources.

4. The qualified person for the quotation is Mr. Severino Modena, Member of the Chilean Mining Commission and General Manager of Tetra Tech Sudamérica, BSc, Mining Engineer, MAusIMM.

5. Mineral reserves have a metallurgical cutoff based on the process plant design of 0.18% Cu for direct feed to the mill.

6. Totals may not add up exactly due to rounding.

7. Marginal facies analysis with cut-off grade optimization software (COMET) is used to estimate mineral reserves.

8. Mineral reserves are contained within operational phases defined using the COMET Optimized Mining Schedule that includes a stockpiling strategy. The main inputs for this process are:

1. Metal prices for copper at US$3.5/lb and molybdenum at US$12/lb.
2. A mining cost of USD 1.59/tonne at baseline elevation of 1,990 meters plus a cost adjustment of USD 0.014/tonne per bench above baseline and USD 0.032/tonne below baseline.
3. Processing cost is USD 5.7/tonne (including general administration fee of USD 0.30 per tonne of milled material).
4. The overall pit slope angle varies from 44° to 52°.

9. Process recoveries are based on petrology for both copper and molybdenum, except for one sector where copper recovery is fixed.

10. Cu grades are reported in percentages, Mo and Ag grades are reported in parts per million (ppm).

11. The strip ratio (waste:ore) is 2.33. The Ultimate Pit has 2,855 Mt of waste.

12. The Mineral Reserve Statement considers the mill feed at the primary crusher as the reference point.

mineral resources

Note:

1. Mineral Resources were classified using the CIM Definition Criteria (2014) and the CIM Estimation Best Practice Guidelines for Mineral Resources and Mineral Reserves (2019).
2. The effective date for Mineral Resources is February 7, 2023.
3. Mineral resources include mineral reserves.
4. Equivalent grade of copper is calculated using the following formula: CuEq (%) = Cu (%) 0.000288 x Mo (ppm) + 0.00711 x Ag (g/t), using metal price: US$3.68 /lb Cu, US$12.9/ lb Mo and US$21.79/oz Ag, metallurgical recoveries of 91.1% for copper, 74.8% for molybdenum and 75% for silver based on PFS metallurgical testing.
5. Mineral resources that are not mineral reserves have not shown economic viability.
6. The amount and grade of the inferred Mineral Resources reported are inherently uncertain, and further exploration may not upgrade them to Indicated or Measured status.
7. The mineral resources were prepared by María Loreto Romo and Severino Modena, permanent employees of Tetra Tech Sudamérica, and Ricardo Muñoz, a consultant to the Tetra Tech Sudamérica team.
8. Due to rounding, numbers may not add to totals exactly.
9. All mineral resources are evaluated for reasonable prospects for ultimate economic extraction (RPEEE).

Antony Amberg CGeol FGS, our Chief Geologist and “Qualified Person” as defined in NI 43-101 of the Canadian Securities Administration, has reviewed the scientific and technical information contained in this news release. ,approved.

About Los Andes Copper Ltd.

Los Andes Copper Ltd. is an exploration and development company wholly owned by the Vizcachitas project in Chile. The company is focused on bringing projects to production located along Chile’s most prolific copper belt. Vizcachitas is one of the largest uncontrolled copper deposits in the Americas and we believe it will be Chile’s next major copper mine.

The project is a copper-molybdenum porphyry deposit in a very good infrastructure area located 150 kilometers north of Santiago. An independent technical report of PFS prepared in accordance with NI 43-101 will be available on our SEDAR profile within the next 45 days.

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

For more information, please contact:

Interim CEO Santiago Montt
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Phone: +56 2 2954-0450

Elizabeth Johnson, Investor Relations
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Email: This email address is being protected from spambots. JavaScript must be enabled to view. Or visit www.losandescopper.com.
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Forward-Looking Statements

Certain information and statements contained herein that are not historical facts are “forward-looking information” within the meaning of the United States Securities Act (British Columbia), the United States Securities Act (Ontario) and the United States Securities Act (Alberta). (“Forward-Looking Information”, “Information”). Forward-looking information is often, but not always, “seek,” “forecast,” “believe,” or “plan.” , “estimate”, “expect”, “intend” and the like. an event or outcome that is “expected,” or “could,” “could,” “could,” “could,” There is” and other similar expressions. There are known and unknown risks, uncertainties and the possibility that our actual results, performance or performance, or industry performance, may differ materially from any future results, performance or performance expressed or implied by such forward-looking information. Some other factors. Forward-looking information includes, but is not limited to, the prospects, details and timing of the Viscatitas Project.Such forward-looking information may reflect changes in global and Chilean economic, political and market conditions. Based on conditions and our assumptions about metals and energy prices. Among the factors directly related to our future operating results and financial condition are changes in project parameters as plans continue to be refined, changes in government policies, competition, currency fluctuations and restrictions, and changes in technology. There are changes. , among others. If any of the aforementioned risks and uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ from the conclusions, projections or projections set forth in the forward-looking information. Forecasts may differ significantly. Readers are therefore advised not to place undue reliance on forward-looking information. Except as required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Note for US Investors Regarding Mineral Resources and Reserves

National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) is a regulation of the Canadian Securities Administration that regulates all public disclosures of scientific and technical information relating to mineral projects by issuers. We set the standard. The technical disclosure contained in this news release was prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification Systems. These standards differ from the requirements of the U.S. Securities and Exchange Commission (“SEC”) and the resource information contained in this press release does not conform to similar information disclosed by U.S. companies subject to the SEC’s reporting and disclosure requirements. may not be comparable.

All references to “$” in this news release are US dollars unless otherwise specified.

Notes on non-GAAP financial measures

Alternative performance indicators such as “Cash Flow” are provided in this news release to provide additional information. These non-GAAP performance measures are included in this news release because these statistics are used by management to monitor and evaluate project performance and to plan and evaluate the overall effectiveness and efficiency of mining operations. because it is used as the primary performance indicator used to These performance measures do not have a standard meaning within International Financial Reporting Standards (“IFRS”) and therefore the amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for performance measures in accordance with IFRS.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.