Atico Mining Corporation Announces EIA Approval for its

VANCOUVER, British Columbia, May 19, 2022 (GLOBE NEWSWIRE) — Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to announce that it has received the Environmental Impact Assessment (“EIA”) approval for the construction and operation of its La Plata mining project located in Ecuador (the “La Plata Project”).

The La Plata project was identified by the President of Ecuador, Guillermo Lasso, as a strategic project and a component of the country’s reactivation plan. As part of this plan, President Lasso pledged to accelerate the recovery of the country’s economy by harnessing the potential of its mining industry while positioning Ecuador as a major mining investment destination in Latin America.

The basic EIA process started over 3 years ago and involved independent environmental experts as well as qualified professionals mainly from Ecuador, Canada, Peru as well as our El Roble mining operation which has been recognized as one of the safest mines in Colombia.

The La Plata project plan consists of a 900 tpd underground mining operation with state-of-the-art infrastructure, the most significant infrastructure being the construction of a screened tailings processing facility, a first of its kind in Ecuador. This technology, already in use at our El Roble mine in Colombia, enables efficient water use by significantly reducing water consumption through the recirculation of nearly all of the process plant’s water needs. .

Mr. Alain Bureau, President of Atico Mining said: “Our team is very pleased to announce the receipt of the EIA approval for the La Plata project. This announcement is the culmination of a long scientific process to identify all aspects of the project that could be optimized and provide solutions for responsible mining. We also wish to acknowledge the tremendous efforts of our employees, consultants, surrounding communities and the support of the Ecuadorian environmental authorities.

EIA approval is a key step for the Company to begin construction of the new processing plant. This approval allows the Company to move forward on its normal course to complete the underlying licenses and necessary secondary permits. The La Plata project also includes the upgrading of other infrastructure, including the upgrading of the access road, a 69 kV power line and a flotation plant with its screened tailings facilities. The GAD and the region’s water management association are currently working on water infrastructure projects. These water projects will upgrade and modernize existing water supply facilities providing better quality of water delivered to operations and surrounding communities.

Atico Mining’s success and culture is based on investing in the sustainable development of the communities where it operates through responsible mining with a strong focus on the surrounding environment.

About Atico Mining Corporation

Atico is a growth-oriented company focused on the exploration, development and operation of copper and gold projects in Latin America. The Company generates significant cash flow from the operation of the El Roble mine and is developing its high-grade VMS La Plata project in Ecuador. The Company is also pursuing additional acquisitions of late-stage opportunities. For more information, visit www.aticomining.com.

ON BEHALF OF COUNCIL

Fernando E. Ganoza
CEO
Atico Mining Corporation

Stock Symbols: TSX.V: ATY | OTCQX: ATCMF

Investor Relations
Igor Dutina
Such. : +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 approved or disapproved of the contents of this press release. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”), or any state securities law securities, 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) except pursuant to an exemption from it. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities of the Company in any jurisdiction.

Caution Regarding Forward-Looking Statements

This announcement includes certain “forward-looking statements” within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included herein, without limiting the use of net proceeds, 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. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to the interpretation of drill results and the geology, continuity and grade of mineral deposits; the uncertainty of capital and operating cost estimates; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mining projects; uncertainty regarding the achievement of planned program milestones for the Company’s mining projects; the global economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not in the long term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to this pandemic or other issues; and other risks and uncertainties disclosed under the heading “Risk Factors” in the Company’s prospectus dated March 2, 2012 filed with the Canadian securities authorities on SEDAR at www.sedar.com

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