Atico Mining Corporation  (TSX-V: ATY) (OTC: ATCMF) announced its financial results for the three months ended June 30, 2025, posting income from mining operations of $4.5 million and a net income of $2.7 million for the quarter. Production for the quarter at Atico’s El Roble mine totaled 2.2 million pounds of copper and 2,385 ounces of gold in concentrate at a cash cost ⁽¹⁾ of $1.73 per payable pound of copper ⁽²⁾.

Fernando E. Ganoza, CEO and Director, commented, “During the period, production results, increased concentrate sales and strong metal prices led to improved financial performance. We anticipate gradual operational improvements will continue through the remainder of the year which should drive financial results.” Mr. Ganoza continued, “For the second half of the year, we will continue the planned development and preparation pace into the upper higher-grade zones at El Roble. In parallel, we are conducting a 6,000 meter near-mine drill program at El Roble to replenish resources and extend the mine’s life.”

Second Quarter Financial Highlights

• Sales for the quarter increased 94% to $21.1 million when compared with $10.9 million in Q2-2024. Copper and gold accounted for 55% and 45% of the 7,842 (Q2-2024 – 5,603) dry metric tonnes sold during Q2-2025.
• The average realized price per metal was $4.47 (Q2-2024 – $4.34) per pound of copper and $3,406 (Q2-2024 – $2,303) per ounce of gold.
• Net income for the quarter amounted to $2.7 million, compared with $0.4 million net loss for the comparative quarter of last year, while cash flows from operations, before changes in working capital, was $4.9 million (Q2-2024 – $2.5 million). Cash used for investing activities amounted to $5.4 million (Q2-2024 – $5.1 million).
• Ending working capital deficit was $13.7 million (December 31, 2024 – $11.3 million), while the Company had $6.0 million (December 31, 2024 – $7.1 million) in long-term loans payable and $4.6 million (December 31, 2024 – $8.5 million) payable to the National Mining Agency that is due beyond one year.
• Cash costs ⁽¹⁾ were $164.26 per tonne of processed ore and $1.73 per pound of payable copper produced ⁽²⁾, which was an increase of 25% and 17% over Q2-2024, respectively. The increase in cash cost per tonne was primarily driven by lower ore production in Q2-2025, which led to underutilization of capacity. The transition to the new upper zones in the El Roble mine require more costs in terms of preparations and ground support. Cash costs per pound of payable copper produced (net of by-product credits) also increased due to lower copper output due to the lower grade.  The Company expects a gradual improvement in tonnage and grade towards the second half of the year as planned development and preparation pace recovers and more ore is mined from these new zones which contain higher grades.
• Cash margin was $2.74 per pound of payable copper produced⁽¹⁾, which was a decrease of 4% over Q2-2024, due to an increase in cash cost per pound (net of by-product credits), partially offset by an increase in realized copper price.
• All-in sustaining cash cost per payable pound of copper produced⁽¹⁾ was $3.91, up from $2.32 in Q2-2024 (refer to non-GAAP Financial Measures). This increase was primarily due to lower copper output due to lower grade and higher sustaining capital expenditures on mine development, mine infrastructure, and ramp construction, to increase ore extraction from the new upper zones which contain higher grade.
• On May 23, 2025, the Company and the National Mining Agency of Colombia executed a new 30-year mining agreement and related title for the El Roble mine. Additionally, the metal concentrate inventory previously pledged as security in favor of the National Mining Agency of Colombia was released from the pledge and sold by the Company in June 2025.
• On June 30, 2025, the Company amended the credit agreement, pursuant to the term sheet, which the Principal Amount will be repaid in two instalments of $2,700,000 on July 25, 2025 (PAID) and $6,000,000 on December 30, 2026.

Second Quarter Summary of Financial Results

Second Quarter Consolidated Operational Details

In Q2-2025, the Company produced 2.2 million lbs of copper, 2,385 oz of gold, and 10,766 oz of silver. Copper production decreased by 42% and gold production by 16% for gold, when compared to Q2-2024, primarily due to lower ore throughput as well as lower copper head-grades.

The financial statements and MD&A are available on SEDAR+ and have also been posted on the company’s website at http://www.aticomining.com/s/FinancialStatements.asp

⁽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

Change of Management

Alain Bureau, President of the Company, stepped down from his position effective August 15, 2025, to seek new professional opportunities. Mr. Bureau was instrumental in driving the La Plata project in Ecuador from exploration through to feasibility and permitting, delivering major milestones in the project’s development. He will continue with the Company as a government relations consultant.

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.