#03 - 2025 OTCQB: Chkkf Fra: 1ZX Chakana Provides Corporate Update & Exploration Plan FOR LA Joya Project, PERU
NEWS RELEASE
For Immediate Release TSX-V: PERU
#03 - 2025 OTCQB: CHKKF
FRA: 1ZX
CHAKANA PROVIDES CORPORATE UPDATE & EXPLORATION PLAN FOR
LA JOYA PROJECT, PERU
Vancouver, B.C., June 2, 2025 – Chakana Copper Corp . (TSX-V: PERU; OTCQB: CHKKF; FRA:
1ZX) (the “ Company ” or “ Chakana ”), is pleased to provide this update and outline its exploration plan for
the La Joya project in Ancash, Peru. After eliminat ing all property payments and consolidating its sha re
structure, the Company is focusing its exploration efforts on three mineral rich target areas within the newly
defined La Joya project.
The La Joya project includes three principal target areas:
• the La Joya high-sulfidation epithermal (HSE) syste m, where minimal 2024 drilling confirmed
high-grade silver mineralization including 1,005.0 gpt silver and 0.45 gpt gold over 0.75m within
an alteration zone with 700 meters of strike length; and
• the Mega-Gold intrusive center, where 2024 scout dr illing confirmed a high-level porphyry
environment with two yet to be tested discrete porphyry targets; and
• the Compañero gold zone, where hydrothermal breccia is exposed at surface in several outcrops
over an area of 250 metres diameter with channel sample assays up to 14.4 gpt gold.
The La Joya project is located within an option agreement with Barrick Gold (NYSE:B; TSX:ABX)
(Figure 1) and has no property payments.
“The fully permitted drill targets at La Joya (HSE) and Mega-Gold are exciting discovery opportunities. We
have already encountered high grade silver mineralization in drilling at La Joya within the same stratigraphy
that hosts significant mineralization in the district. At Mega-Gold, our initial scout drilling, combined with
geophysics and geochemical zoning, provide strong v ectors defining two discrete porphyry targets” stat ed
President and CEO David Kelley.
2025 Exploration Plan
The La Joya (HSE) and Mega-Gold prospects are fully permitted for additional drilling. At La Joya (HSE),
detailed mapping and a detail ground geophysical survey will be completed prior to drilling. The target is a
stratigraphically hosted bulk tonnage precious meta ls deposit. Approximately 1,900m of drilling is
anticipated. At Mega-Gold, a definitive drill test of the PT-1 porphyry target is planned with an anticipated
depth of 400m. The final stage of permitting allowing drilling at the Compañero gold zone will be completed.
The environmental permit has been awarded with the initiation of activities remaining to be completed.
La Joya High-Sulfidation Epithermal Prospect
The La Joya (HSE) target area is associated with hi gh-sulfidation advanced argillic alteration consisting of
vuggy silica, alunite, dickite, zunyite, diaspore, and pyrophyllite. The zone of alteration extends 700 metres
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in a north-south direction at an elevation of appro ximately 4,500 metres (Figures 1 and 2). Surface ro ck
samples collected from the alteration zone have sil ver and gold values up to 1,300 gpt and 0.36 gpt,
respectively.
Three shallow holes were completed at La Joya in 20 24 for a total of 465.5 m. The holes were planned t o
drill beneath strongly silicified volcanic rocks wh ere zones of vuggy silica alteration returned stron gly
anomalous values in silver and gold. The strongest mineralization was observed in hole LJDH24-002 with
323.6 gpt silver and 0.25 gpt gold over 4.5 m from 58.0 m depth. Within this interval vuggy silica is present
over a 0.75m interval with 1,005.0 gpt silver and 0 .45 gpt gold (see news release dated August 29, 202 4).
The mineralized interval is hosted within andesite tuff that shows evidence of advanced argillic alter ation.
Shallow drilling confirmed high-grade precious meta l mineralization hosted in prospective volcanic
stratigraphy and warrants additional drilling.
Mega-Gold Intrusive Center
The Mega-Gold intrusive center is a very large area occupying 2.5 km 2 with anomalous gold in soil overlying
pervasive tourmaline-quartz-white mica alteration, overprinted by localized advanced argillic alterati on
zones and tourmaline breccias. The target area is underlain by older andesitic tuff (Calipuy Formation) and
a pre-mineral granodiorite, thought to be the first pulse of intrusive activity in the Aija-Ticapampa district.
Within the gold anomaly is a distinct Offset (3D) induced polarization chargeability feature coincident with
the soil anomaly. Beneath the strong chargeability zones are discrete zones of conductivity, believed to
reflect mineralizing intrusions.
An initial “proof-of-concept” drilling program was completed in 2024 to test the idea that the Mega-Go ld
intrusive center is part of a mineralized porphyry system. A total of eight scout drill holes were com pleted
across a broad area totaling 2,425.20 m. These hole s display a variety of vein types (principally B an d D
veins); elevated gold, copper and molybdenum; and hydrothermal alteration zoning consistent with a high-
level porphyry environment (see news release dated August 29, 2024). All holes encountered pyrite-
chalcopyrite-molybdenite mineralization hosted in veins. Higher temperature alteration minerals suggesting
proximity to a porphyry are most strongly developed in the three eastern-most holes drilled in the Meg a-
Gold target area (see news release dated July 2, 20 24). These holes also exhibit narrow zones of stron g
mineralization in MGDH24-002 with 2.0 m of 1.8 gpt gold and 0.35% copper from 89.0 m depth, and 1.5 m
of 11.05 gpt gold from 127.5 m depth in MGDH24-003, confirming a mineralized fluid source at depth. The
strong IP chargeability zones are interpreted to be two separate pyrite shells related to underlying porphyry
intrusions. Strongly conductive rock beneath the pyrite shells are potential zones of porphyry mineralization
(PT-1, Figure 2 and 3) and warrant additional drilling.
Compañero Gold Prospect
The Compañero gold zone is located in the southwest part of the La Joya project adjacent to a pre-mine ral
intrusion. Mineralized hydrothermal breccias are ex posed at surface in several outcrops within an area of
approximately 250m in diameter. The breccias are strongly anomalous in gold with up to 14.4 gpt in channel
samples and secondary copper minerals are noted in several localities. Three heavy mineral concentrate
samples collected downstream and adjacent to the Co mpañero zone contain 19, 23, and 33 pristine gold
grains. There has been no drilling in the Compañero area.
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About Chakana Copper
Chakana Copper Corp is a Canadian-based minerals ex ploration 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 hig h-sulfidation epithermal zone; 3) mineralization re lated
to the Mega-Gold intrusive center; and 3) the Compa ñero gold zone. In addition, Chakana owns a 1% net
smelter royalty over the Soledad property owned by Condor Resources in the active Aija-Ticapampa mining
district (see news release dated October 8, 2024). For more information on the La Joya project, 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.
ON BEHALF OF THE BOARD
(signed) “ David Kelley ”
David Kelley
President and CEO
For further information contact:
Phone: 720-233-2166
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy o r accuracy of this release.
Forward-looking Statement Advisory: This release may contain forward-looking statement s. Forward-looking statements involve
known and unknown risks, uncertainties, and other f actors which may cause the actual results, performa nce, or achievements of
Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-
looking statements. Forward looking statements or i nformation relates to, among other things, the inte rpretation of the nature of
the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand th e mineralization, and
to develop and grow a resource within the Project, the planning for further exploration work, the abil ity to de-risk the potential
exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking
statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers
are cautioned not to place undue reliance on such f orward- looking statements or information. The Comp any disclaims any
obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
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Figure 1 - Map showing the 1,600 hectare La Joya Project located in Ancash, Peru, incorporating the Barrick option and Chakana-
owned concessions. The currently-known prospective areas are highlighted associated with anomalous gold in soil - La Joya
(HSE), Mega-Gold, and Compañero. Principal structures, veins, and mantos in the western part of the Aija-Ticapampa mining
district are also shown.
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Figure 2 – Photo looking south showing the three pr incipal target areas that make up the La Joya Project – 1) La Joya (HSE), 2)
Mega-Gold intrusive center, and 3) Compañero gold zone. Black dots show location of initial scout holes drilled at Mega-Gold in
2024.
Figure 3 – Map showing high-priority discrete porph yry targets PT-1 and PT-2 with drill holes from 2024 drilling. Disc shapes on
drill holes are >80 ppb gold. Section on right shows relation between induced polarization chargeability outlining pyrite shells
(red) and underlying conductive features from the induced polarization resistivity model (blue).