Alta Copper Corp. provided an update on significant developments and progress to date on several fronts which will now set the stage for further development at its 100% owned Canariaco advanced staged copper project. Optimized Preliminary Economic Assessment ("PEA") advancing as planned with recent positive developments incorporating 3D Geological Modelling with results targeted to be published in Fourth Quarter; Updated 3D Geological Model Identifies Significant Mineralization Potential and High Priority Drill Targets which will provide the foundation for a staged 20,000-meter drilling program in two phases which is targeted to commence in early 2024; Drilling will focus on the under explored Canariaco Sur porphyry copper gold deposit, the undrilled Quebrada Verde porphyry target and further enhancement of the Canariaco Norte deposit; Whittle Consulting Pty Ltd. was engaged for purposes of advancing project optimization which involves a rigorous analytical and computational process using Whittle's Strategic Mine Planning software and Integrated Strategic Planning concepts.

To date, Whittle has completed 63 iterations on the mine plan pit shells and will be conducting additional iterations as soon as the new 3D Geological Modelling is incorporated. The new 3D Geological Model has identified some very compelling alteration effects on the deposit, which are linked to higher copper grades. Based on what are considered positive developments with 3D Geological Modelling, more fully described below, the Company is now targeting to publish the optimized PEA by Fourth Quarter-2023 which will be jointly prepared by Whittle and Ausenco Engineering Canada Inc. Updated Geological Modelling: An updated geological model for the Project is nearing completion with the re-interpretation of district-scale and project-specific geology while identifying significant mineralization potential and numerous high priority drill targets which will provide the foundation for an planned 20,000-meter drilling programs targeted to commence in early 2024.

Recent geological modelling has identified several high-grade copper zones with previously untested potential depth extension. These zones will be drill tested with the goal of further enhancing the current substantial mineral resource already defined at Canariaco. Geological modelling to date has identified approximately fourteen prospective drill targets from eight (8) platforms in Canariaco Norte.

Additionally, six geotechnical holes are planned for feasibility study purposes to further support an improved open pit slope which is expected to capture additional mineral resources and improve economics. Drill holes have been targeted to cross and fill in the recently identified zones of high-grade copper extending to depth which are not currently included in the current mineral resource estimate due to drill spacing between the holes and limitations of drill data at depth.