Chakana Provides Exploration Update and Response to COVID-19 Pandemic
NEWS RELEASE
CHAKANA PROVIDES EXPLORATION UPDATE AND RESPONSE TO COVID-19
PANDEMIC
Vancouver, B.C., March 19, 2020 – Chakana Copper Co rp. (TSX-V: PERU; OTCQB:
CHKKF; FWB: 1ZX) (the “ Company ” or “ Chakana ”), is providing an update on its 2020
exploration program and response to the COVID-19 pandemic.
On March 15, 2020, the Peruvian government declared a national state of emergency in response to the
COVID-19 pandemic and instituted a 15-day period of obligatory social isolation. In addition, the
government temporarily closed its borders to intern ational travelers. As a result of this, the Company has
temporarily suspended field activities at its Soled ad copper-gold-silver project in Ancash, Peru out o f
concern for the health and safety of its employees, contractors and the communities in which we operat e.
Employees in Peru, Canada, and the USA will continu e working from home in preparation for our next
drill program.
The Company has just entered the final stages of pe rmit approval to restart drilling in the Paloma and
Huancarama areas where several high priority drill targets have been defined on the Soledad project. A
detailed ground magnetics survey was completed prio r to the suspension of activities and is currently
being interpreted to provide a better understanding of the geology and to supplement drill targeting
information. The Company remains in a strong financ ial position with C$7.0 million in cash, resulting
from the strategic investment made by Gold Fields in 2019 (see news release dated May 13, 2019).
“The measures we have taken are in the best intere sts of our employees, contractors, and their famili es.
We will monitor the situation closely with the Peru vian authorities and will restart activities as soo n as it
is safe to do so. In the meantime, we remain produc tive advancing our understanding of the geology at
Soledad and preparing for the continuation of our P hase 3 drill program. The goal this year remains to
drill test some very exciting new targets in the Pa loma and Huancarama areas,” stated David Kelley,
President and CEO. “We appreciate the support of ou r shareholders and they should know that we are
being vigilant in conserving our cash position under the current market conditions” added Kelley.
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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Neither TSX Venture Exchange (the “Exchange”) nor i ts Regulation Services Provider (as that
term is defined in the policies of the Exchange) ac cepts responsibility for the adequacy or
accuracy of this release.
Completion of the Financing is subject to a number of conditions, including but not limited to,
Exchange approval. There can be no assurance that the Financing will be completed as
proposed or within in the timeframe disclosed herein or at all.
This news release contains forward-looking statemen ts, including relating to the completion of
the Financing and the use of the net proceeds there from, and other statements that are not
historical facts. Forward-looking statements are of ten identified by terms such as "will", "may",
"should", "anticipate", "expects" and similar expre ssions. All statements other than statements of
historical fact included in this release are forwar d-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in th e preparation of any forward-looking
information may prove to be incorrect. Events or ci rcumstances may cause actual results to differ
materially from those predicted, as a result of num erous known and unknown risks, uncertainties,
and other factors, many of which are beyond the con trol of the Company. As a result, the
Company cannot guarantee that the Financing will be completed on the term disclosed herein or
at all. The reader is cautioned not to place undue reliance on any forward-looking information.
Such information, although considered reasonable by management at the time of preparation,
may prove to be incorrect and actual results may di ffer materially from those anticipated.
Forward-looking statements contained in this news r elease are expressly qualified by this
cautionary statement. The forward-looking statements contained in this news release are made as
of the date of this news release and the Company do es not intend to update any of the included
forward-looking statements except as required by Canadian securities laws.