Compelling Results For Escalones Chile Project PEA

VANCOUVER - Nolan Peterson, CEO and President of World Copper Ltd. said, "The exceptional results of the scalones project, in Central Chile, Preliminary Economic Assessment (PEA) confirm what we at World Copper have always believed - that Escalones has the potential to be one of the most impressive copper properties in South America. Escalones now joins a peer group of large-scale, study backed, development stage assets. Escalones has several attributes that make it attractive for development including robust economics, strong value metrics and the potential of rapid returns for a comparably low capital investment. These factors combine leading to a profitability index in the top quartile of peer group companies with a capital intensity in the bottom quartile. Furthermore, the Project's lowest quartile position on the global cash cost curve indicates profitability in even the weakest copper market scenarios. The results of the PEA, combined with Escalones' large land package and resource expansion potential, make it a truly outstanding project.

Embracing the oxide potential of Escalones resulted in unlocking the value of an asset that others have overlooked. The results of the PEA are a testament to our skill at understanding and identifying the key value drivers of copper deposits. As an oxide heap leach Escalones is positioned well to benefit from global decarbonization efforts and the evolving global economy, where reducing environmental impacts and contributions to preventing climate change are increasingly important. It is our goal to work hand in hand with our local partners and communities, to begin proving that more sustainable mining projects are not only possible but can also yield economic benefits to all stakeholders. The PEA is the culmination of years of hard work by the team at World Copper, our partners, and our stakeholders. I personally thank all for their efforts and support. While the PEA is the most significant milestone to date for Escalones, our work does not end here. We intend to advance the Project through development and permitting while continuing exploration drilling to upgrade and expand the resource as we work to unlock the full potential of the Project."

The PEA is considered preliminary in nature, contains numerous assumptions and includes Inferred Mineral Resources that are considered too speculative, geologically, to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the results of the PEA will be realized. No Mineral Reserves have been estimated for Escalones. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Inferred Mineral Resources are that part of the Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geologic evidence and sampling, which is sufficient to imply but not verify grade or quality continuity. Inferred Mineral Resources may not be converted to mineral reserves. It is reasonably expected, though not guaranteed, that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Mineral Resources are captured within an optimized pit shell and meet the test of reasonable prospects for economic extraction.