Latest news with #FernandoE.Ganoza
Yahoo
27-05-2025
- Business
- Yahoo
Atico Reports Consolidated Financial Results for First Quarter of 2025
(All amounts expressed in US dollars, unless otherwise stated) VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the 'Company' or 'Atico') (TSX.V: ATY | OTC: ATCMF) today announced its financial results for the three months ended March 31, 2025, posting income from mining operations of $3.7 million and a net loss of $0.8 million for the quarter. Production for the quarter at Atico's El Roble mine totaled 2.2 million pounds ('lbs') of copper and 1,578 ounces ('oz') of gold in concentrate at a cash cost (1) of $3.00 per payable pound of copper (2). Fernando E. Ganoza, CEO and Director, commented, 'during this period, the mine's operational performance was below schedule due to unexpected challenging rock quality conditions resulting in slower than planned mine development. Nevertheless, we achieved financial results in line with budget, driven by strong metal prices and additional revenue from selling down a portion of our pledged concentrate inventory.' Mr. Ganoza continued, 'for the remainder of the year, we anticipate gradual improvements in the second and third quarters of this year to regain the planned development and preparation pace, which we expect will enable us to recover most of the lost production for the year. In parallel, we are progressing with the engineering and permitting for the La Plata project while conducting the near-mine drilling program at El Roble to replenish resources and extend the mine's life.'Sales for the quarter increased 11% to $19.9 million when compared with $17.8 million in Q1-2024. Copper ('Cu') and gold ('Au') accounted for 72% and 28% of the 8,468 (Q1-2024 – 9,383) dry metric tonnes ('DMT') sold during Q1-2025. The average realized price per metal was $4.44 (Q1-2024 - $3.97) per pound of copper and $2,987 (Q1-2024 - $2,180) per ounce of gold. Net loss for the quarter amounted to $0.8 million, compared with $0.4 million for the comparative quarter of last year, while cash flows from operations, before changes in working capital, was $5.3 million (Q1-2024 – $5.8 million). Cash used for investing activities amounted to $1.7 million (Q1-2024 – $3.2 million). Ending working capital deficit was $10.1 million (December 31, 2024 – $11.3 million), while the Company had $6.1 million (December 31, 2024 – $7.1 million) in long-term loans payable and $8.8 million (December 31, 2024 – $8.5 million) payable to the National Mining Agency that is due beyond one year. Cash costs (1) were $176.98 per tonne of processed ore and $3.00 per pound of payable copper produced (2), which was an increase of 11% and 17% over Q1-2024, respectively. The increase in cash cost per tonne was primarily driven by lower ore production in Q1-2025, which led to underutilization of capacity (as fixed costs were spread over fewer tonnes). The transition to the new zones in the El Roble mine experienced delayed by unforeseen rock quality challenges, which affected both tonnage and head grade as access to stopes was slowed down. Also, inflation, and the increase in ground support activities and stope preparation, impacted costs. Cash costs per pound of payable copper produced also increased due to lower copper output due to the lower grade. The Company anticipates a gradual improvement in tonnage and grade in the following quarters as planned development and preparation pace recovers. Cash margin was $1.44 per pound of payable copper produced(1), which was an increase of 2% over Q1-2024, due to the increase in realized copper price which more than offset the increase in cash cost per pound mentioned above. All-in sustaining cash cost per payable pound of copper produced(1) was $4.65, up from $3.41 in Q1-2024 (refer to non-GAAP Financial Measures). This increase was primarily due to lower copper output and higher sustaining capital expenditures on mine development, mine infrastructure, and ramp construction, necessary to maintain production capacity. On March 7, 2025, the arbitration tribunal at the Center for Arbitration and Conciliation of the Bogota Chamber of Commerce ruled in favor of the National Mining Agency regarding the royalties' dispute of Minera El Roble S.A. Q12025 Q12024 %Change Sales $ 19,855,914 $ 17,818,115 11 % Cost of sales (16,113,098 ) (15,016,252 ) 7 % Income from mining operations 3,742,816 2,801,863 34 % As a % of revenue 19 % 16 % General and administrative expenses (1,218,814 ) (1,331,172 ) (8 %) Income from operations 2,515,347 1,292,845 95 % As a % of revenue 13 % 7 % Income (loss) before income taxes 1,038,480 (257,271 ) (504 %) Net income (loss) (844,316 ) (365,933 ) 131 % As a % of revenue (4 %) (2 %) Operating cash flow before changes in non-cash operating working capital items(1) $ 5,327,944 $ 5,847,701 (9 %) In Q1-2025, the Company produced 2.2 million lbs of copper, 1,578 oz of gold, and 4,988 oz of silver. Copper production decreased by 34% and gold production by 28% for gold, when compared to Q1-2024, due to lower ore throughput and lower copper and gold head-grades. Q12025 Q12024 %Change Production (Contained metals)(3) Copper (000s lbs) 2,220 3,349 (34 %) Gold (oz) 1,578 2,185 (28 %) Silver (oz) 4,988 8,174 (39 %) Mine Tonnes of material mined 56,467 64,873 (13 %) Mill Tonnes processed 54,978 65,787 (16 %) Tonnes processed per day 773 811 (5 %) Copper grade (%) 1.96 2.52 (22 %) Gold grade (g/t) 1.44 1.67 (14 %) Silver grade (g/t) 10.26 8.49 21 % Q12025 Q12024 %Change Recoveries Copper (%) 93.3 91.8 2 % Gold (%) 62.0 61.7 1 % Silver (%) 39.3 46.3 (15 %) Concentrates Copper Concentrates (DMT) 5,763 8,274 (30 %) Copper (%) 17.5 18.4 (5 %) Gold (g/t) 8.5 8.2 4 % Silver (g/t) 38.5 30.7 25 % Payable copper produced (000s lbs) 2,080 3,148 (34 %) Cash cost per pound of payable copper ($/lbs)(1)(2) 3.00 2.57 17 % The financial statements and MD&A are available on SEDAR+ and have also been posted on the company's website at (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 settlementMr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by 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 ON BEHALF OF THE BOARD Fernando E. GanozaCEOAtico Mining Corporation Trading symbols: TSX.V: ATY | OTC: ATCMF Investor RelationsIgor DutinaTel: +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. This announcement includes certain 'forward-looking statements' within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation statements regarding improving cost efficiencies at El Roble, taking advantage of the favorable metal price environment, and possible outcomes of any pending arbitration, consultation, litigation, negotiation or regulatory investigation, and the timing and amount of the future construction of the La Plata project, 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. The assumptions upon which the forward-looking statements herein are based, include, but are not limited to, that all required third party contractual, regulatory and governmental approvals will be obtained for the development, construction and production of its properties, there being no significant disruptions affecting operation, permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations, currency exchange rates being approximately consistent with current levels, certain price assumptions for copper, gold and silver, prices for and availability of fuel oil, electricity, parts and equipment and other key supplies remaining consistent with current levels, production forecasts meeting expectations, the accuracy of the Company's current mineral resource and reserves estimates, labor and materials costs increasing on a basis consistent with the Company's current expectations, assumptions made and judgments used in engineering and geological interpretation, the outcome of the Arbitration with the National Mining Agency in Colombia for the royalty dispute and that additional financing sources will be available on reasonable commercial terms in order for the Company to make scheduled repayments of principal, interest, and any applicable premiums on its outstanding indebtedness. Important risk factors that could cause actual results to differ materially from the Company's expectations include uncertainties as to the timing and process for renewal of title to the El Roble claims; risks associated with the Company's outstanding debt, including the Company's ability to successfully secure additional funds through debt or equity issuances to meet these obligations, including amounts due and payable to Trafigura PTE. LTD. on or before June 30, 2025, or successfully negotiate to amend or extend their terms uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs of the Company's projects; 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; and other risks and uncertainties disclosed under the heading 'Risk Factors' in the Company's Management's Discussion and Analysis for the year ended December 31, 2024 and in the Company's Annual Information Form ('AIF') dated September 4, 2024, filed with the Canadian securities regulatory authorities on the SEDAR+ website at and as available on the Company's website for further details. Except as required by law, the Company does not assume the obligation to revise or update these forward-looking statements after the date of this announcement or to revise them to reflect the occurrence of future unanticipated items marked with a "(1)" are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company's Management's Discussion and Analysis for the year ended December 31, 2024, as filed on SEDAR+ and as available on the Company's website for further details.
Hamilton Spectator
26-05-2025
- Business
- Hamilton Spectator
Atico Mining Signs New 30-Year Title for El Roble Mine and Receives Ruling Clarification from Tribunal
VANCOUVER, British Columbia, May 26, 2025 (GLOBE NEWSWIRE) — Atico Mining Corporation (the 'Company' or 'Atico') (TSX.V: ATY | OTC: ATCMF) is pleased to announce that further to the News Release on April 10 th 2025 , it has now signed the new 30-year mining title with the Colombian National Mining Agency ('NMA') for the El Roble mine. 'The new 30-year title is very positive for the Company as it significantly de risks the El Roble operation,' said Fernando E. Ganoza, CEO. 'The new title also includes the ability to sell the previously pledged concentrate which will inject material liquidity to the Company. Together, these developments will allow us to improve the balance sheet position in the short term, fulfill our obligations, and focus on further extending the El Roble life of mine through an aggressive near-mine drill program currently on-going.' Following several months of negotiations with the Company, the NMA has reached a decision to grant a new 30-year mining title to Minera El Roble in accordance with the preference right stated in the decree 2477 from 1986. The new contract will fall under the current law for mining titles in Colombia, Law 685 from 2001, and will have all the requirements in it. It will also have additional contractual compensation fees for the Colombian State and a community relations expense, which the Company has been committed to in a discretionary way over the years. At the time of the grating of the new title, Atico held approximately 5,000 wet metric tonnes of unsold concentrate in inventory as a security and guarantee to the NMA. The amount of concentrate held as security is reduced proportionally every time the Company makes a payment, and the obligation is reduced. At recent metal prices, the approximate value of this concentrate is US$2000 per dry metric tonne. The granting of the new title includes releasing of the pledge over concentrate held in inventory. The Company intends to use the proceeds of the previously pledged concentrate sale to add liquidity to the operation and significantly reduce its liabilities. Further to the News Release dated March 10 th 2025 , the Company has received on April 9th, clarification from the Bogotá Chamber of Commerce on the ruling it announced on March 7th 2025. The Tribunal stated that the US$12 million which the Company had already paid through its payment plan until that date, shall be adjusted for inflation and related interest. At the same time, it instructed the company and the NMA to agree on the continuation of the original payment plan, which was agreed by both parties on May 12th. Additionally, on May 5th 2025 the Company paid approximately US$3M as per the payment plan, further reducing the obligation with the NMA. The remaining approximately US$10.7 million will be paid to the NMA in accordance with the payment plan schedule during 2025 and 2026. 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 its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit . 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. Cautionary Note Regarding Forward Looking Statements This announcement includes certain 'forward-looking statements' within the meaning of Canadian securities legislation. Such forward-looking statements herein include, but are not limited to, the Company's intention to sell unsold concentrate and the intended use of net proceeds from such sale, and the balance sheet and liquidity improvements in the short-term derived from the receipt of the new title and the concentrate sale. The Company does not intend to and does not assume any obligation to update such forward-looking statements, other than as required by applicable law. Forward- looking statements involve various known and unknown risks and uncertainties and are based on certain factors and assumptions that may cause the actual results, level of activity, production levels, performance or achievements of the Company and its operations to be materially different from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to 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; the Company's substantial reliance on the El Roble mine for revenues; uncertainty of meeting anticipated program milestones for the Company's mineral projects; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Colombia, Ecuador or other countries in which the Company does or may carry on business; risks relating to mining title and surface rights and access; uncertainties and risks related to carrying on business in foreign countries; currency exchange rate fluctuations; fluctuations in metal prices; risks associated with the Company's outstanding debt; and other risks and uncertainties disclosed under the heading 'Risk Factors' in the Annual Information Form of the Company dated September 4, 2024 filed with the Canadian securities regulatory authorities on the SEDAR+ website at . Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations; that all required third party contractual, regulatory and governmental approvals will be obtained for the development, construction and production of its properties; the Company's ability to sell unsold concentrate at a price approximately consistent with current market prices; permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations; no material adverse change occurring in the market price of commodities; currency exchange rates being approximately consistent with current levels; forecast mine economics; that mining operations will function and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes; and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
Yahoo
26-05-2025
- Business
- Yahoo
Atico Mining Signs New 30-Year Title for El Roble Mine and Receives Ruling Clarification from Tribunal
VANCOUVER, British Columbia, May 26, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the 'Company' or 'Atico') (TSX.V: ATY | OTC: ATCMF) is pleased to announce that further to the News Release on April 10th 2025, it has now signed the new 30-year mining title with the Colombian National Mining Agency ('NMA') for the El Roble mine. 'The new 30-year title is very positive for the Company as it significantly de risks the El Roble operation,' said Fernando E. Ganoza, CEO. 'The new title also includes the ability to sell the previously pledged concentrate which will inject material liquidity to the Company. Together, these developments will allow us to improve the balance sheet position in the short term, fulfill our obligations, and focus on further extending the El Roble life of mine through an aggressive near-mine drill program currently on-going.' Following several months of negotiations with the Company, the NMA has reached a decision to grant a new 30-year mining title to Minera El Roble in accordance with the preference right stated in the decree 2477 from 1986. The new contract will fall under the current law for mining titles in Colombia, Law 685 from 2001, and will have all the requirements in it. It will also have additional contractual compensation fees for the Colombian State and a community relations expense, which the Company has been committed to in a discretionary way over the years. At the time of the grating of the new title, Atico held approximately 5,000 wet metric tonnes of unsold concentrate in inventory as a security and guarantee to the NMA. The amount of concentrate held as security is reduced proportionally every time the Company makes a payment, and the obligation is reduced. At recent metal prices, the approximate value of this concentrate is US$2000 per dry metric tonne. The granting of the new title includes releasing of the pledge over concentrate held in inventory. The Company intends to use the proceeds of the previously pledged concentrate sale to add liquidity to the operation and significantly reduce its liabilities. Further to the News Release dated March 10th 2025, the Company has received on April 9th, clarification from the Bogotá Chamber of Commerce on the ruling it announced on March 7th 2025. The Tribunal stated that the US$12 million which the Company had already paid through its payment plan until that date, shall be adjusted for inflation and related interest. At the same time, it instructed the company and the NMA to agree on the continuation of the original payment plan, which was agreed by both parties on May 12th. Additionally, on May 5th 2025 the Company paid approximately US$3M as per the payment plan, further reducing the obligation with the NMA. The remaining approximately US$10.7 million will be paid to the NMA in accordance with the payment plan schedule during 2025 and 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 its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please ON BEHALF OF THE BOARD Fernando E. GanozaCEOAtico Mining Corporation Trading symbols: TSX.V: ATY | OTCQX: ATCMF Investor RelationsIgor DutinaTel: +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 announcement includes certain 'forward-looking statements' within the meaning of Canadian securities legislation. Such forward-looking statements herein include, but are not limited to, the Company's intention to sell unsold concentrate and the intended use of net proceeds from such sale, and the balance sheet and liquidity improvements in the short-term derived from the receipt of the new title and the concentrate sale. The Company does not intend to and does not assume any obligation to update such forward-looking statements, other than as required by applicable law. Forward- looking statements involve various known and unknown risks and uncertainties and are based on certain factors and assumptions that may cause the actual results, level of activity, production levels, performance or achievements of the Company and its operations to be materially different from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to 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; the Company's substantial reliance on the El Roble mine for revenues; uncertainty of meeting anticipated program milestones for the Company's mineral projects; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Colombia, Ecuador or other countries in which the Company does or may carry on business; risks relating to mining title and surface rights and access; uncertainties and risks related to carrying on business in foreign countries; currency exchange rate fluctuations; fluctuations in metal prices; risks associated with the Company's outstanding debt; and other risks and uncertainties disclosed under the heading 'Risk Factors' in the Annual Information Form of the Company dated September 4, 2024 filed with the Canadian securities regulatory authorities on the SEDAR+ website at Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations; that all required third party contractual, regulatory and governmental approvals will be obtained for the development, construction and production of its properties; the Company's ability to sell unsold concentrate at a price approximately consistent with current market prices; permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations; no material adverse change occurring in the market price of commodities; currency exchange rates being approximately consistent with current levels; forecast mine economics; that mining operations will function and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes; and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
24-04-2025
- Business
- Hamilton Spectator
Atico Reports Consolidated Financial Results for 2024
(All amounts expressed in US dollars, unless otherwise stated) VANCOUVER, British Columbia, April 24, 2025 (GLOBE NEWSWIRE) — Atico Mining Corporation (the 'Company' or 'Atico') (TSX.V: ATY | OTC: ATCMF) today announced its financial results for the year ended December 31, 2024, posting income from mining operations of $14 million and a net loss of $18.7 million. Production for the year at Atico's El Roble mine totaled 13.7 million pounds ('lbs') of copper and 9,106 ounces ('oz') of gold in concentrate at a cash cost(1) of $2.07 per payable pound of copper(2). Fernando E. Ganoza, CEO and Director, commented, 'the El Roble mine performed as expected in 2024 with significant improvement over the previous year. We achieved higher margins and sales, leading to a substantial increase in operating income over 2023. However, accounting for the arbitration ruling in Colombia, significantly impacted our bottom line.' Mr. Ganoza continued, 'For the rest of the year, we will prioritize achieving production goals and improving cost efficiencies at El Roble. Looking to take advantage of the favorable metal price environment.' 2024 Financial Highlights Subsequent Events to the Reporting Date: 1. $650,000 due on January 31, 2025 (PAID); 2. $650,000 due on April 30, 2025; and 3. $8,700,000 due on June 30, 2025 2024 Summary of Consolidated Financial Results 2024 Consolidated Operational Details In 2024, the Company produced 13.7 million lbs of copper, 9,106 oz of gold, and 35,451 oz of silver. When compared to 2023, production increased by 4% for copper and decreased by 10% for gold, which was due to average copper head-grades increasing by 5% and average gold head-grades decreasing by 15%, and tonnes of processed ore also decreasing by 2% compared to 2023. The financial statements and MD&A are available on SEDAR+ and have also been posted on the company's website at El Roble Fourth Quarter Updates The Company continues to work towards obtaining a new contract to renew title on its claims hosting the El Roble property, as its 30-year contract expired on January 23, 2022. The Company has been operating the El Roble mine while the process for the contract and title renewal continues. On March 7, 2025, the arbitration tribunal at the Center for Arbitration and Conciliation of the Bogota Chamber of Commerce ruled in favor of the National Mining Agency in Colombia, requiring the Company's subsidiary Minera El Roble to back pay copper royalties since 1994 (the 'Award'). On April 9, 2025, the arbitration tribunal ordered that the payment of the Award be made within the timeframe outlined in the Payment Plan, and that both Minera El Roble and the National Mining Agency are responsible for adjusting the Payment Plan to account for the Award and for previous payments made by Minera El Roble under the Payment Plan. The Award resulted in a total pre-tax loss of $24.5 million, recognized in the Company's consolidated statement of income (loss) for 2024. The Company has been making payments since 2021 under a Payment Plan with the National Mining Agency. As a result, the outstanding amount of the Award due to the National Mining Agency is $13.2 million (COP$58 billion). Of this amount, $4.7 million was classified as a current liability and $8.5 million as a non-current liability as of December 31, 2024. The liability amount may be subject to change pending the revisions to the Payment Plan by the National Mining Agency and Minera El Roble as required by the arbitration tribunal. As payments are made under the Payment Plan, the Company intends to use the proceeds from the sale of the pledged concentrate to substantially reduce its liabilities. La Plata Fourth Quarter Updates The Company continues to work on obtaining the necessary permits and the environmental license to begin construction of the La Plata project. Qualified Person Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico. 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 . ON BEHALF OF THE BOARD Fernando E. Ganoza CEO Atico Mining Corporation Trading symbols: TSX.V: ATY | OTC: 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, including without limitation statements regarding improving cost efficiencies at El Roble, taking advantage of the favorable metal price environment, the timing regarding renewing the title on the Company's claims hosting the El Roble property and possible outcomes of any pending arbitration, consultation, litigation, negotiation or regulatory investigation, the timing and amount of payments of the Award payable to the National Mining Agency in Colombia and the future construction of the La Plata project , 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. The assumptions upon which the forward-looking statements herein are based, include, but are not limited to, that all required third party contractual, regulatory and governmental approvals will be obtained for the development, construction and production of its properties, there being no significant disruptions affecting operation, permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations, currency exchange rates being approximately consistent with current levels, certain price assumptions for copper, gold and silver, prices for and availability of fuel oil, electricity, parts and equipment and other key supplies remaining consistent with current levels, production forecasts meeting expectations, the accuracy of the Company's current mineral resource and reserves estimates, labor and materials costs increasing on a basis consistent with the Company's current expectations, assumptions made and judgments used in engineering and geological interpretation, the outcome of the Arbitration with the National Mining Agency in Colombia for the royalty dispute and that additional financing sources will be available on reasonable commercial terms in order for the Company to make scheduled repayments of principal, interest, and any applicable premiums on its outstanding indebtedness. Important risk factors that could cause actual results to differ materially from the Company's expectations include uncertainties as to the timing and process for renewal of title to the El Roble claims; uncertainties as to the timing and amount of payments of the Award payable to the National Mining Agency in Colombia which are dependent on the Company and the National Mining Agency adjusting the Payment Plan as required by the arbitration tribunal, and agreeing on the adjustments; risks associated with the Company's outstanding debt, including the Company's ability to successfully secure additional funds through debt or equity issuances to meet these obligations, including amounts due and payable to Trafigura PTE. LTD. on or before June 30, 2025, or successfully negotiate to amend or extend their terms uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs of the Company's projects; 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; and other risks and uncertainties disclosed under the heading 'Risk Factors' in the Company's Management's Discussion and Analysis for the year ended December 31, 2024 and in the Company's Annual Information Form ('AIF') dated September 4, 2024, filed with the Canadian securities regulatory authorities on the SEDAR+ website at and as available on the Company's website for further details. Except as required by law, the Company does not assume the obligation to revise or update these forward-looking statements after the date of this announcement or to revise them to reflect the occurrence of future unanticipated events. Non-GAAP Financial Measures The items marked with a '(1)' are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company's Management's Discussion and Analysis for the year ended December 31, 2024, as filed on SEDAR+ and as available on the Company's website for further details. (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
