Chakana Announces Appointment of CFO

NEWS RELEASE

CHAKANA ANNOUNCES APPOINTMENT OF CFO

Vancouver, B.C., February 3, 2020 – Chakana Copper Corp. (TSX-V: PERU; OTCQB:

CHKKF; FWB: 1ZX) (the “ Company ” or “ Chakana ” ) is pleased to announce the appointment

of Mr. Xavier Wenzel as Chief Financial Officer and Corporate Secretary effective February 1,

2020.

Mr. Wenzel is a Chartered Professional Accountant w ith over 22 years senior level experience in

financial reporting and public accounting providing auditor services to both public and private

resource sector clients reporting in Canada, Mexico and the US. He has an extensive background

in financial and administrative services having hel d various roles, including CFO, in both private

and public companies in the mining and resource sector.

“We are pleased to welcome Mr. Wenzel to Chakana’s management team” said David Kelley,

CEO of Chakana. “Xavier is bilingual in English an d Spanish and with his expertise and

experience in financial management, internal contro ls and corporate governance in various

countries we anticipate he will be a great fit to w ork with our teams in both North America and

Peru”.

Mr. Wenzel’s appointment coincides with Mr. Kevin M a stepping down as CFO and Secretary to

pursue other business opportunities. The Board of Directors of Chakana express their gratitude

for the significant contributions Mr. Ma has made to the Company and wish him well in his future

endeavours.

About Chakana Copper Corp

Chakana Copper Corp is a Canadian based minerals ex ploration company and through its wholly

owned Peruvian subsidiary, Chakana Resources S.A.C. , is currently advancing the Soledad

project near Aija, in the Ancash region of the highly prolific Miocene mineral belt of Peru.

ON BEHALF OF THE BOARD

(signed) “ David Kelley ”

David Kelley

President and CEO

For further information contact:

Michelle Borromeo, Manager – Corporate Communicatio ns

Phone: 604-715-6845

Email: [email protected]

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Exchange) accepts responsibility for the adequacy o r accuracy of this release.