Candente Copper Information

Candente Copper is developing its flagship project Cañariaco, within which Cañariaco Norte, is the 10th largest late-stage copper resource in the world (over 9B pounds copper, 2.1M ounces of gold and 59.4M ounces of silver Measured and Indicated*) and 6th highest in grade (RFC Ambrian, December 2021 and Haywood, December 2021). A positive PEA was recently completed on its 100% owned Cañariaco project. Based on projected average annual metal production of 173M pounds copper, 31,395 ounces gold and 703,588 ounces silver for 28 years and an initial capital cost estimate of $1.04B, the Cañariaco Norte project has an after-tax net present value (“NPV”) of US$1,010M using a copper price of US$3.50/pound and a discount rate of 8%. The NPV increases to US$1,833M and payback of 4.5 years when using a copper price of US$4.50/pound.* In addition to Cañariaco Norte, the Cañariaco Project includes the Cañariaco Sur deposit (2.2B pounds copper, 1.2M ounces of gold and 15.0M ounces of silver Inferred*) and Quebrada Verde prospect, all within a 4km NE-SW trend in northern Peru’s prolific mining district. The Company is very pleased to now have Cañariaco Norte included in 4 research reports that compare global copper projects: RFC Ambrian, Haywood, Deutsche Bank and Goldman Sachs. Candente's Management Team and Board of Directors are comprised of senior mining industry executives who have a track record in the discovery and development of major mining projects. Candente subscribes to principles which ensure that exploration and development activities are consistent with best practice and beneficial to the local communities. *Please refer to Candente Copper News Releases dated January 28, 2022 and February 8, 2022 for full details on the PEA and Cañariaco Resources.