Shallow Oxide Potential Extended At The Mercedes Satellite Target

VANCOUVER - Marimaca Copper Corp. reported that reverse circulation (RC) drilling completed at the Mercedes Target has extended the envelope of surface oxide copper mineralization to an area of interest measuring 700m along strike and 400m width. A total of 8 holes were completed of which 6 intersected mineralization. Mercedes is located less than 500m to the north of the northern edge of the Marimaca Oxide Deposit (MOD) and continues to provide clear potential to add to the Company’s leachable resource base.

Sergio Rivera, VP Exploration, said, “Mercedes appears to be a mineralizing system of some scale and we are especially pleased with the continuity of grades in the north-western and western peripheries of the area of interest. The lower grade halo is reminiscent of the boundaries of the MOD, and we continue to see potential to add complementary, shallow, oxide resources to our mineral inventory.”

Hayden Locke, President and CEO, said, “The benefit of the MOD is that the hurdle to bringing proximal, shallow, leachable resources into an eventual mine plan is significantly lower. The drilling in north-western portion of the Mercedes Discovery has an intersection width weighted average grade of nearly 0.40% CuT, which is approaching the average LOM grade of the MOD. Based on this rudimentary assessment, we see strong potential for Mercedes to extend the mine life of the MOD with further work. The average of all drilling over the entire 700m by 400m area of interest is nearly 0.35% CuT, which is well above the economic cut-off we expect from the MOD based on historical work completed.

Our focus has now shifted to the Sierra de Medina Project where we are drilling a greenfields target before moving to drilling along strike from our recently acquired Pampa Medina Deposit for which we are currently completing a 43-101 compliant Mineral Resource Estimate before moving to a Preliminary Economic Assessment.”