Completes Reverse Takeover

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

CHAKANA COPPER CORP.

Chakana Copper Corp.

Completes Reverse Takeover

Vancouver, British Columbia, January 30, 2018 – Chakana Copper Corp. (the “ Company ”), formerly

Remo Resources Inc. (TSX-V: RER), is pleased to ann ounce completion of the acquisition (the

“ Transaction ”) of 1098767 B.C. Ltd., formerly Chakana Copper Co rp. (“ Chakana ”).

The Company’s common shares will resume trading on the Exchange under the new ticker symbol TSX-

V: PERU after the Exchange’s conditions for listing are sat isfied and the Exchange issues its final

exchange bulletin confirming the completion of the Transaction. The Company’s common shares are

anticipated to resume trading on January 31, 2018 .

In connection with the Transaction, the Company con solidated its common shares on the basis of one

post-consolidation share for each 6.865385 pre-cons olidation shares (the “ Consolidation ”) and changed

its name to “Chakana Copper Corp.” The Transaction constitutes a Reverse Takeover of the Company

pursuant to Policy 5.2 – Changes of Business and Reverse Takeovers of the TSX Venture Exchange (the

“ Exchange ”).

Going forward, the Company will be a natural resource company engaged in the acquisition, development

and operation of mineral properties, with its princ ipal focus at this stage on the Soledad Project in Peru.

The Company will be an exploration stage company wi th no producing properties and consequently no

current operating income cash flow or revenues and will not provide any products or services to third

parties.

Additional information in respect of the Company’s business and the Soledad Project is available in th e

Company’s filing statement dated November 29, 2017; the Company’s news release dated January 22,

2018, available under the Company’s profile on www.sedar.com and on the Company’s website at

www.chakanacopper.com .

In connection with the Transaction, on November 9, 2017 Chakana completed a concurrent financing of

8,602,500 common shares at a price of $0.50 per com mon share and 11,397,500 subscription receipts at a

price of $0.50 per subscription receipt for aggrega te gross proceeds of $10,000,000. Each subscriptio n

receipt was deemed exercised for one common share o f Chakana immediately prior to the closing of the

Transaction and the escrowed proceeds from the subscription receipt financing were released to Chakana.

The Company acquired all of the issued and outstand ing shares of Chakana through a three-cornered

amalgamation involving a wholly-owned subsidiary of the Company and Chakana. Pursuant to the

Transaction, the Company issued to the shareholders of Chakana an aggregate of 61,476,882 common

shares. With the completion of the Transaction, the Company has 62,976,882 common shares, 12,940,124

common share purchase warrants and 3,635,000 stock options outstanding.

In connection with the completion of the Transactio n, the Company is pleased to announce its board of

directors as follows: Douglas J. Kirwin (Chairman), David Kelley, John Black, Thomas E. Wharton, Jr.

and Darren Devine. In addition, the Company is plea sed to announce its executive management as

follows:

• David Kelley - Chief Executive Officer and President

• Kevin Ma – Chief Financial Officer and Corporate Se cretary

ON BEHALF OF THE BOARD

David Kelley

Chief Executive Officer, President and Director

For further information contact:

Kevin Ma, Chief Financial Officer and Corporate Secretary

Phone: 604-687-7130

Email: [email protected]

FORWARD LOOKING STATEMENTS :

Certain of the statements and information in this p ress release constitute “forward-looking statements ” or

“forward-looking information”. Any statements or in formation that express or involve discussions with

respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or

performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “believes ”,

“plans”, “estimates”, “intends”, “targets”, “goals” , “forecasts”, “objectives”, “potential” or variati ons

thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be

taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are n ot

statements of historical fact may be forward-lookin g statements or information. Forward looking

statements or information relate to, among other th ings the resumption of trading of the Common Shares

on the Exchange and the Company’s business plans.

Forward-looking statements or information are subje ct to a variety of known and unknown risks,

uncertainties and other factors that could cause actual events or results to differ from those reflected in the

forward-looking statements or information, includin g, without limitation, the need for additional capi tal

by the Company through financings, and the risk that such funds may not be raised; the speculative nature

of exploration and the stages of the Company’s prop erties; the effect of changes in commodity prices;

regulatory risks that development of the Company’s material properties will not be acceptable for soci al,

environmental or other reasons, availability of equ ipment (including drills) and personnel to carry ou t

work programs, that each stage of work will be comp leted within expected time frames, that current

geological models and interpretations prove correct , the results of ongoing work programs may lead to a

change of exploration priorities, and the efforts a nd abilities of the senior management team. This li st is

not exhaustive of the factors that may affect any o f the Company’s forward-looking statements or

information. These and other factors may cause the Company to change its exploration and work

programs, not proceed with work programs, or change the timing or order of planned work programs.

Although the Company has attempted to identify important factors that could cause actual results to differ

materially, there may be other factors that cause r esults not to be as anticipated, estimated, describ ed or

intended. Accordingly, readers should not place und ue reliance on forward-looking statements or

information.

The Company’s forward-looking statements and inform ation are based on the assumptions, beliefs,

expectations and opinions of management as of the d ate of this press release, and other than as requir ed

by applicable securities laws, the Company does not assume any obligation to update forward-looking

statements and information if circumstances or mana gement’s assumptions, beliefs, expectations or

opinions should change, or changes in any other events affecting such statements or information.

Neither the 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.