Chakana Provides Additional Information ON Private Placement
NEWS RELEASE
For Immediate Release TSX-V: PERU
#04-2023 FRA: 1ZX
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES
CHAKANA PROVIDES ADDITIONAL INFORMATION ON PRIVATE PLACEMENT
Vancouver, B.C., October 19, 2023 – Chakana Copper Corp. (TSX -V: PERU; FWB: 1ZX) (the
“Company” or “Chakana”) announces that further to its news release dated October 18, 2023 announcing
a non-brokered private placement of up to 55,000,000 units of the Company (“Units”) at a price of C$0.04
per Unit for gross proceeds of up to C$2.2 million (the “ Private Placement”), the Company would like to
add that $2M of the proceeds of the Private Placement will be applied to exploration drilling, and
development of the Company’s high- grade copper-gold-silver discovery at the Soledad Project, located in
the Ancash region of Peru. The remaining funds will be used for general working capital and administrative
purposes, including salaries payable to non-arms length parties. There are no proposed payments to persons
conducting investor relations activities.
The Private Placement is subject to all necessary regulatory approvals, including the approval of the TSX
Venture Exchange. The securities issued under the Private Placement will be subject to a hold period under
applicable securities laws in Canada expiring four months and one day from the closing date of the Private
Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States Securities
Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be of fered or
sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.
About Chakana Copper Corp
Chakana Copper Corp is a Canadian -based minerals exploration company that is currently advancing the
Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive
communities. The Soledad Project is notable for the high- grade copper-gold-silver mineralization that is
hosted in tourmaline breccia pipes and other intrusion-related styles of mineralization . An initial inferred
resource estimate for seven breccia pipes was announced in January, 2022 (see news release dated February
23, 2022), with 6.73 Mt containing 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million
pounds of copper. In addition, extensive multidisciplinary exploration has defined 154 exploration targets,
28 of which have been tested to date (18%), confirming that Soledad is a large, well-endowed mineral system
with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides
exposure to base and precious metals. For more information on the Soledad project, please visit the website
at www.chakanacopper.com.
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.
- 2 -
ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO
For further information contact:
Investor Relations: Info
Email: [email protected]
Telephone: 720-233-2166
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.
Forward-looking Statement Advisory: This release contains forward-looking statements , including
statements relating to the use of proceeds and completion of the Private Placement . Forward -looking
statements involve known and unknown risks, uncertainties, and other factors which may cause the actual
results, performance, 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 information relates to, among other things, the interpretation of the nature of the
mineralization at the Soledad copper -gold-silver project (the “Project”), the potential to expand the
mineralization, and to develop and grow a resource within the Project, the planning for further exploration
work, the ability 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 forward- looking statements or information. The Company
disclaims any obligation to update, or to publicly announce, any such statements, events or developments
except as required by law.