COR.V · 2021-03-30 12:00:00

Camino Purchases Maria Cecilia Porphyry Complex in Peru as Part of Investment Collaboration with Denham Capital

Partnerships & JV

Camino Purchases Maria Cecilia Porphyry

Complex in Peru as Part of Investment

Collaboration with Denham Capital

Vancouver, British Columbia--(Newsfile Corp. - March 30, 2021) -

Camino Corp.

(TSXV: COR) (OTC:

CAMZF) (WKN: A116E1) ("

Camino

" or the "

Company

") is pleased to announce that it has entered into

an agreement (the "Share Purchase Agreement") with Denham Capital affiliate, Stellar Investment

Holdings LLC ("Stellar"), to purchase all of the shares of Minera Maria Cecilia Ltd. ("MMC BVI"), a

British Virgin Islands company, which will result in Camino owning and controlling the mineral rights and

titles comprising the Maria Cecilia Porphyry and Skarn Complex ("Maria Cecilia") located in Ancash,

Peru.

As consideration for the purchase, Camino has agreed to issue to Stellar 23,193,098 common shares in

the capital of Camino at a price of $0.20 per share, for an aggregate purchase price of $4,638,620.

Concurrently with the Share Purchase Agreement, Stellar has entered into a subscription agreement (the

"Subscription Agreement") whereby Stellar will invest an additional $500,000 in cash in Camino by

subscribing for 2,272,727 common shares of Camino at a price of $0.22 per common share on a private

placement basis. This subscription is intended to close concurrently with the closing of Camino's

acquisition of MMC BVI under the Share Purchase Agreement. At the closing of the acquisition of MMC

BVI and the subscription, Stellar is anticipated to own approximately 19.9% of Camino's issued and

outstanding common shares. The parties have also agreed to the terms of an investor rights agreement

(the "Investor Rights Agreement"), which is anticipated to be entered into at the closing of the

transaction, pursuant to which Stellar will be granted certain rights so long as it maintains no less than a

10% interest in Camino, including an anti-dilution right on future financings to maintain its interest at

approximately 19.9% and the right to appoint a director to the board of Camino. Material terms of the

Share Purchase Agreement, the Subscription Agreement, and the Investor Rights Agreement are further

summarized below.

Camino believes that Maria Cecilia lies at the centre of a large porphyry complex. Approximately US

$28 million of exploration expenditures have been made on Maria Cecilia since 2012, including 32,120

metres of drilling between 2013 and 2015 and a compilation of a National Instrument 43-101 ("NI 43-

101") copper resource (Table 1).

The Maria Cecilia exploration prospect has been identified as the

main target for further exploration work by Camino and there has been no drilling on this prospect to

date.

Jay Chmelauskas, President & CEO of Camino, commented, "The Maria Cecilia Porphyry Complex

provides another large geological system to our portfolio of copper assets.

Additionally, we are pleased

to invite Justin Machin to the board of directors at Camino.

As a Director at Denham Capital, Justin

brings institutional investment experience and vision to complement the Camino board. We plan to fully

exploit our three 100% owned copper exploration projects and expect to continue our business develop

efforts together with Denham Capital in respect to mergers, joint ventures, and the acquisitions of

advanced-stage copper assets."

Denham Capital is an institutional investor with a focus on the mining industry and over $10 billion under

management. Denham has a history of partnering with management teams to achieve long-term goals.

Justin Machin, Director at Denham Capital commented, "This is a good time in the copper cycle to

partner with the new management team at Camino that has a track record of developing successful

companies.

Maria Cecilia is our premier copper exploration asset in Peru, and we believe that it will

complement Camino's prospective Los Chapitos and Plata Dorada projects. We look forward to

working closely with Jay and the rest of the Camino team to build a leading junior mining company."

"Maria Cecilia shows strong indications to be the porphyry center of a multiple porphyry and skarn

complex.

A high-grade discovery at Maria Cecilia would leverage the existing resources within the

surrounding property package that include 93 M tonnes @ 0.29% Cu eq," said Chmelauskas.

"While our

Los Chapitos IOCG property is our flagship, we have now added a major porphyry system at Maria

Cecilia to make additional discoveries in Peru."

Maria Cecilia Project

The skarn system at Maria Cecilia has geological similarities to one of Peru's largest copper mines,

Antamina, located 100 km away.

Antamina has a relatively high-grade skarn core that is surrounded by a

lower grade copper porphyry.

Camino expects that MMC BVI will receive an Environmental Instrument in

the first half of 2021 to be followed by the issuance of the start of activities authorization in respect of a

new

drill campaign on the Maria Cecilia exploration prospect.

The contemplated drill program at Maria

Cecilia is supported by more than five years of geological, permitting, and preparation work.

The project consists of claims that cover 7,110 hectares, and the Maria Cecilia exploration target is

believed to be at the heart of the porphyry complex that includes the Toropunto Epithermal deposit and

the Emmanuel Porphyry deposit.

Camino has identified that the NI 43-101 resource surrounding the

Maria Cecilia target host > 300ppm molybdenum and form a potential lower temperature copper halo

around the Maria Cecilia porphyry centre.

A major magnetic anomaly, two porphyries, stockworks, and a

2 km skarn structure are within the porphyry centre target at Maria Cecilia (Figure 1).

Figure 1. Maria Cecilia Porphyry Complex and NI 43-101 Resources

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Figure 2. Skarn Zone, Stockworks and Porphyry Targets at Maria Cecilia

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The Skarn Zone Target:

The María Cecilia Skarn Zone is presented as a NW-SE 330-340° oriented strip, with an approximate

length and width of 2 km by 250m, it is composed of thin sequences of sandstones, siltstones, hornfels,

skarns and sills varying in width from 0.5 m to 3.0 m thick; the alteration ranges from silicification,

skarnization, hornfelization, argillization, and phyllic alteration. Approximately 3 trenches returned grades

up to 1.0% copper in chip samples, and one trench returned 27.5m @ 0.35% Cu including chalcopyrite

mineralization in the southeast. The main outcropping area for target drilling is a 2km by 250m long strip

composed of thin hornfelized and skarnized sedimentary sequences, with quartz-sericite alteration and

the presence of sills of andesitic-dioritic composition with pyrite mineralization and traces of

chalcopyrite.

The entire zone has copper anomalies that in general range from 500 ppm up to 6.7% Cu

including 110 g/t Ag.

The skarn in this zone is more developed in its southern zone where greenish to yellowish brownish

garnets with Cu Ox are observed in an area of 50 X 35m.

The Stockwork Zone Target:

The intrusive Stockwork Zone is adjacent to the Skarn Zone, towards the west side; it has a large

magnetic geophysical anomaly that covers over 50% of its area and is characterized by the presence of

a quartz stockwork that extends over an area of approximately 900m x 800m. The intrusive Stockwork

Zone cuts almost all the lithologies present in this zone, composed of sandstones, breccias (diatreme

and tourmaline), granodiorite and dioritic porphyries.

The sandstone sequence is composed of gray and

whitish sandstones trending 330-340° with some thin stretches of siltstones, that present moderate

stockwork with a whitish quartz veining and some zones of oxidation and phyllic alteration cut by the

intrusives present.

The Porphyry Zone Target:

The targets in the intrusive Stockwork Zone are related to mineralized porphyry occurrences called Twin

Porphyry 1 and Porphyry 2 where potassic alteration with early vein stockwork and copper values up to

0.9% Cu are observed from channel sample excavations below cover.

The Tourmaline Breccia Zone Target:

The Tourmaline Breccias are located at the edge of the concession and extend to the NI 43-101

resource to the north. The Diatreme Breccia is polymict with a rock dust matrix and some juvenile clasts

elongated by solidification. The Tourmaline Breccia is polymict with intrusive clasts and sandstones, and

pyrite-molybdenite disseminated in the matrix and clasts.

It has molybdenum values up to 120 ppm

toward the valley that is in contact with Maria Cecilia.

Figure 3. Maria Cecilia Porphyry Complex - Skarn, Stockworks, Porphyry, Breccia Zones,

Magnetic Anomaly

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Maria Cecilia is located in a metallogenic environment in the Cordillera Negra mountain that trend NW-

SE with similarities to metallogenic environments near other exploration properties and producing

mines, such as Antamina 100km to the east (copper producer), Esperanza Project 70km to the

southeast (lead-zinc-silver), Pashpap 40km to the northwest (copper resource), El Aguila 70km to the

northeast (copper) and Pierina about 47km to the southeast (gold producer).

Figure 4. Negro and Blanco Cordillera Host to Major Mining Projects

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The metalliferous endowment is significant at Maria Cecilia.

The resource to the north in Toropunto (32

M tonnes @ 0.22% Cueq.) has surface sample anomalies with 6.04% Cu, 3.4 g/t Au, 305 g/t Ag, 1,700

Mo ppm. Drilling to the north shows anomalous grade intervals in hole TOR14-23 67.1m @ 0.72% Cu

and 0.16 g/t Au starting 216 meters from surface.

Drillhole TOR13-09 drilled 276m of 0.86 g/t Au and

0.15% Cu starting 76 metres from surface.

The mineralization to the south at Emmanuel intersected copper with anomalous gold grades, such as

drillhole EMM15-06 94.95m @ 0.21% Cu, 0.40 g/t Au, 1.49 g/t Ag and 77 ppm Mo starting 331 metres

from surface.

Maria Cecilia is the main target for exploration.

There has been no drilling to date.

The Skarn,

Stockworks, two Porphyries, and Tourmaline Breccia Zones are shown in Figure 5. A geophysical

magnetic and chargeability anomaly is located to the south of these targets.

Figure 5. Composite and Schematic Section (northwest view) of the Maria Cecilia project

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Photo 1 & 2: Hornfel in contact with andesitic sill, presence of pyrite, chlorite, FeOx and

chalcopyrite in traces.

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Photo 3 & 4: Porphyritic andesite sill with actinolite pyrite and chalcopyrite veinlets in traces.

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Photo 5 & 6: (5) Intercalations of gossan bodies concordant to the beeding up to 5.0m wide

and 400 m (6) Gossan 0.7m wide@ 0.44 g/t Au; 0.26% Cu, 4.7 ppm Ag.

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Photo 7 & 8: (7) Stockwork zone, veinlets A, B and D cut granodioritic (8) Twin 1, andesitic

porphyry with potassic alteration, CuOx and EB veins, A and B intrusive and light gray

sandstone.

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Photo 9 & 10: Twin 2, porphyritic andesitic sill with CuOx in patches, potassic alteration.

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Three drillholes EMM15-12, EMM15-15 and EMM15-19 were selected and analysed from the Stellar

database, which are located towards the northeastern edge of the Maria Cecilia magnetic and

chargeability anomaly.

The geology in these holes is predominantly propylitic and siliceous alteration

and also patches of potassic alteration as well as subrounded clasts of a skarn interpreted to

correspond to the distal zone of the Maria Cecilia skarn.

There are dioritic lithologies predominant in

85% of the total drillhole meters in drillholes EMM15-12, and EMM15-15 to 220m of depth, including

limestones.

The predominant lithology after this depth is 54% dacites and tonalites, and 67% diorites.

For hole EMM15-19, the mineralization is veinlets/disseminated chalcopyrite, pyrite, phyrrhotite,

molybdenite, epidote, chlorite, and approximately 50% of the total meters of these three holes contain

grades above 0.1% Cu with a weighted average for intervals above this cutoff of 0.16% Cu, 0.14g/t Au

and 52 ppm Mo. These three holes are interpreted to have not reached the hot zone of the copper

porphyry system and would be on the low temperature/low copper grade edge of the system. The

geological log information and grades of copper, gold and molybdenum correspond to the data obtained

at site and review and analysis at the core-shack in the city of Caraz, Peru.

Table 1: Mineral Resource Statement for Toropunto and Emmanuel projects (8.9 US$/t NSR

cut-off), Ancash Department, Peru, SRK Consulting (Peru) S.A., December, 2020

Project