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PERU.V ·

Chakana Copper Announces Option Grant

Share Capital & Compensation

Chakana Copper Announces Option Grant

Vancouver, British Columbia--(Newsfile Corp. - July 10, 2020) -

Chakana Copper Corp. (TSXV:

PERU) (OTCQB: CHKKF) (FSE: 1ZX)

(the

"

Company

"

or

"

Chakana

") announces that it has granted

stock options to certain of its directors, officers and consultants to purchase up to 2,050,000 common

shares.

Each option is exercisable to acquire one common share of Chakana at a price of $0.40 until

July 10, 2025.

The grant of options was previously approved and agreed to by the board but were

deferred pending permit success.

The options will vest over an 18-month period and in accordance with

the Company's stock option plan.

About Chakana Copper Corp.

Chakana Copper Corp is a Canadian based minerals exploration company that is currently advancing

the expanded Soledad copper-gold-silver project in the Ancash region of the highly prolific Miocene

mineral belt of Peru. The Soledad Project consists of high-grade copper-gold-silver mineralization

hosted in tourmaline breccia pipes. A total of 30,273m of drilling has been completed to-date, testing

seven of twenty-three confirmed breccia pipes. For more information on the Soledad project, please visit

the website at

www.chakanacopper.com

.

ON BEHALF OF THE BOARD

(signed) "

David Kelley

"

David Kelley

President and CEO

For further information contact:

Joanne Jobin, Investor Relations Officer

Phone:

647 964 0292

Email:

[email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this

release.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/59534