Chakana Copper Corp. confirmed that drilling will start June 15, 2022 to test thirteen new targets not previously drilled on the north side of the project. These thirteen targets were selected from a total of 154 targets identified on the project that were prioritized during an in-house technical workshop incorporating recently acquired Offset IP survey results.

The objective of the drill program is to test the exploration potential of numerous additional targets beyond the targets that have been drilled leading to the initial resource estimate for the project. Exploration Update and 2022 Drill Program: A targeting workshop was recently held to review and update drill targets for the Soledad project. Since the original targeting workshop was held in 2019, several new data sets have been acquired over the entire 12 square kilometer area of the prospective Soledad mineral system.

New data sets incorporated into the targeting include 1) detailed ground magnetics, 2) gradient array induced polarization, 3) offset (3D) induced polarization, 4) detailed mapping, and 5) hyperspectral alteration mineralogy studies. Targets are categorized as breccias, vein-breccias, mineralized intrusions, and high sulfidation alteration zones, representing a continuum of mineralization styles related to an intrusive-driven mineral system that underlies the Soledad project. Drilling will begin on June 15, 2022 with one drill rig to test thirteen targets with approximately 3,000m of drill core with one or two holes in each target.

Once these targets have been drilled, a decision will be made regarding both additional target testing and follow-up drilling. The principal target areas for the next round of drilling on the north side of the project are 1) Cima Blanca, 2) Bx 4 cluster, 3) Faro, 4) Western Breccias, 5) Paloma Trend, and 6) Paloma-Huancarama megabreccia target. A number of targets exist in the Paloma Trend and Paloma-Huancarama area defined by outcropping tourmaline breccias, and Gradient Array IP and Offset IP metal factor anomalies.

Three principal target areas exist on the south side of the project: 1) Compañero breccia complex, 2) Mega-gold anomaly, and 3) La Joya. The Compañero breccias are similar to the mineralized breccia pipes on the north side of the project with strongly enriched gold in surface rock channel samples. The Mega-gold target is defined by a large soil anomaly strongly anomalous in gold-molybdenum-tin, in part overlying a poorly exposed, phylically-altered granodiorite intrusion.

The La Joya target area shows evidence of high sulfidation advanced argillic alteration with vuggy silica, alunite, dickite, zunyite, diaspore, and pyrophyllite.