Atico Mining Corporation reported of an updated NI 43-101 mineral resource and reserve estimate as on September 30th, 2020 for the El Roble Mine located in Colombia. The updated mineral resource and reserve estimate for El Roble was prepared by staff and consultants of Miner SA, an Atico Mining operating subsidiary. Mr. Thomas Kelly (SME Registered Member 1696580) has reviewed the resource and reserve estimate and acted as the independent qualified person as defined by Canadian National Instrument 43-101. The Mineral Resources and Reserves reported herein were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council. The Mineral Resource estimation considers channel and core samples, in addition to the underground mine mapping for the construction of three-dimensional wireframes of the lithology and mineralized bodies. Estimation of grades in the block models only considers samples located inside the mineralized bodies solid, which are applied to anomalous grade or top cut treatment and a further compositing process. The model was constructed using 2m x 2m x 2m blocks, which represents the selective mining unit (SMU). The orebodies estimation is conducted separately body by body and element by element (Cu and Au). The methods used for grade estimation are cubic inverse distance (Goliat, Maximus and Maximus Sur Orebodies) and Ordinary Kriging (Zeus Orebody). A density factor specific for each ore-body was assumed for conversion of block volumes to tonnes (Goliat = 3.34t/m3, Maximus = 3.50t/m3, Maximus Sur = 3.26t/m3, Zeus = 3.53t/m3). Mineral Resources are reported to 0.88% CuEq cut-off. For each block, the CuEq value was calculated by multiplying one tonne of mass of each by block grade by its average recovery, metal payable recovery and metal price. Blocks with CuEq grade higher than the CuEq cut-off were included in the resource estimate. Proven and Probable Mineral Reserves were derived from the Measured and Indicated Resources by applying modifying factors related to mining methods, mining dilution and historical operating costs detailed as follows: mining ($56.94/t), processing ($15.95/t), general services ($7.89/t), on-site administration and indirect ($14.03/t), selling and concentrate shipping ($9.63/t). Operating costs total USD 104.44/t and comprise the lower NSR value for reserve reporting purposes. Mining dilution was estimated at variable percentages depending on the mining activity and labour, and ranges from 3.5% for breasting within the ore-body to 13.5% for crown pillar recovery. The resource and reserve models have been validated by reconciliation against actual mined production continuously for several years with reconciliation results being acceptable for all ore bodies that have experienced a significant amount of production. The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate. Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day. El Roble has Proven and Probable reserves of 1.00 million tonnes grading 3.02% copper and 1.76 g/t gold, at a cut-off grade of 1.3% copper equivalent as of September 30th, 2020. Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit. On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.