Chakana Copper Corp. (TSX-V: PERU) (FSE: 1ZX0) is pleased to announce that further to its news release dated September 11, 2025, it has completed a non-brokered private placement of 17,857,156 units at a price of C$0.07 per Unit for gross proceeds of C$1,250,000.92.

Each Unit consists of one common share in the capital of the Company and one common share purchase warrant. Each Warrant entitles the holder to purchase one additional Share at a price of C$0.09 per Share for a period of three years from closing of the Private Placement.

David Kelley, President and CEO commented, “We are excited to see such strong support for the financing and to welcome EMR Capital as a new shareholder. The primary use of the proceeds will be for evaluating new opportunities at a time of very strong copper and precious metal prices.”

EMR Capital Management Limited is a global private equity firm focused on the natural resources sector, leveraging their extensive operational expertise to identify new opportunities throughout the resources life cycle and unlock value for their shareholders. EMR Capital combines operational excellence and environmental stewardship with a sincere commitment to providing long-term sustainable benefits to host communities.

EMR Capital acquired 4,947,948 Units in the Private Placement for total proceeds of C$346,356.33, resulting in a 10.5% non-diluted equity interest in the Company. Pursuant to an investor rights agreement between the Company and EMR Capital, EMR Capital was granted customary anti-dilution rights to maintain its ownership interest, the right to nominate one director to the Company’s board of directors and the right to appoint a project advisor to support and oversee the Company’s mineral project. In addition, an officer of the Company purchased an aggregate of 3,166,686 Units in the Private Placement for total proceeds of C$221,668.05.

The Company intends to use the net proceeds of the Private Placement to evaluate new opportunities, exploration, and for general working capital and administrative purposes. There are no proposed payments to persons conducting investor relations activities.

Chakana paid aggregate cash finder’s fees of C$1,928.67 and issued 27,552 non-transferable finder’s warrants in connection with the Private Placement. Each Finder’s Warrant is exercisable to purchase one Share at a price of C$0.09 per Share for a period of three years from closing of the Private Placement.

All securities issued in the Private Placement are subject to a four-month hold period expiring on January 27, 2026 in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada. The Private Placement remains subject to the final approval of the TSX Venture Exchange.

In addition, the Company announces that the TSX Venture Exchange has approved the previously announced debt settlement with certain directors, officers and consultants for management fees and services previously provided as disclosed on September 24, 2025. This transaction fully settles all remaining board and management debt. The Debt Shares are subject to a statutory hold period of four months and one day from the date of issuance.

An insider participated in the Private Placement and certain members of the Company’s management team participated in the shares-for-debt transaction, which involved the issuance of securities to related parties as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to the exemptions contained in sections 5.5(c) and 5.7(1)(a). The Company further confirms that, other than EMR Capital becoming a new insider as a result of its participation in the Private Placement, these issuances will not result in the creation of any additional insiders or control persons.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Chakana Copper Corp

Chakana Copper Corp is a Canadian-based minerals exploration Company that is currently advancing the La Joya project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. La Joya has three well-defined target areas based on extensive multi-disciplinary exploration: 1) precious metal mineralization at the La Joya high-sulfidation epithermal zone; 3) mineralization related to the Mega-Gold intrusive center; and 3) the Compañero gold zone. In addition, Chakana owns a 1% net smelter royalty over the Soledad property in the active Aija-Ticapampa mining district (see news release dated October 8, 2024). Chakana is also evaluating new opportunities. For more information on Chakana, please visit the website at www.chakanacopper.com or Chakana’s profile at www.sedarplus.ca.

Qualified Person

David Kelley, an officer, and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.