Atico Mining Corporation (TSX-V: ATY) (OTCQX: ATCMF) is pleased to announce operating results for the three months and year ended December 31, 2024 from its El Roble mine. Production totaled 3.7 million pounds of copper with 1,918 ounces of gold for the fourth quarter and 13.67 million pounds of copper with 9,025 ounces of gold in concentrates for the full year in 2024.

“The Company had a solid operational year overall as we met our production guidance for most metrics. Gold production was slightly below budget, primarily due to a decrease in head grade, while copper production, our primary commodity, reached this year’s target. We expect these results to generate strong revenue and improved financial performance for year ended 2024.” said Fernando E. Ganoza, CEO. “In the coming year, we have key milestones yet to achieve. In the first quarter, we anticipate an arbitration ruling related to the royalty dispute at the El Roble mine. Furthermore, at El Roble we plan to allocate significant effort to drilling the deposit and exploring for additional mineralization in the mine vicinity. At La Plata in Ecuador, we will continue to advance the project to secure the environmental license, with the goal of reaching a positive construction decision in the second half of the year.”

Fourth Quarter and Full Year Operational Highlights

Fourth Quarter

• Production of 3.7 million pounds of copper contained in concentrates; a decrease of 16% over Q4 2023.
• Production of 1,918 ounces of gold contained in concentrates; a decrease of 26% over Q4 2023.
• Average processed tonnes per day of 827; a decrease of 3% over Q4 2023.
• Copper and gold head grades of 2.60% and 1.29 grams per tonne, respectively; a decrease of 10% for copper and a decrease of 26% for gold over Q4 2023.
• Copper and gold recovery of 92.2% and 66.0%, respectively; a decrease of 2% for copper and an increase of 5% for gold over Q4 2023.

2024 Year-end

• Production of 13.67 million pounds of copper contained in concentrates; an increase of 3% over 2023.
• Production of 9,025 ounces of gold contained in concentrates; a decrease of 11% over 2023.
• Average processed tonnes per day of 836; no significant change over 2023.
• Copper and gold head grades of 2.46% and 1.61 grams per tonne, respectively; an increase of 5% for copper and a decrease of 15% for gold over 2023.
• Copper and gold recovery of 92.1% and 63.6%, respectively; no significant change for copper and an increase of 5% for gold over 2023.

Fourth Quarter and Full Year Operational Details

Note: Metal production figures are subject to adjustments based on final settlement.

Concentrate Inventory

The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.

Note: Concentrate figures are subject to adjustments based on final surveys and final settlement of sales.

2025 Operating and Cost Guidance

Note: Please see “Non-GAAP Financial Measures” at the end of this release. C1 cash cost per pound of payable copper produced net of by-product credits. 

El Roble Mine

The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.

Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.

El Roble’s reserves estimate, with an effective date of March 12, 2024, includes Proven and Probable mineral reserves of 828 thousand tonnes averaging 2.49% Cu, 2.20 g/t Au and a life of mine until Q1-2027. A full NI 43-101 technical report is available on SEDAR+.  For more information on the reserves estimate refer to SEDAR+ and on the Company’s website.

Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit. On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.

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 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 www.aticomining.com.