Western Metallica Resources Corp. provided an update on its current exploration activities aimed at advancing the recently discovered Luz Maria and Cana Brava 1 prospects, two key copper-molybdenum porphyry targets located within its 100% owned Cana Brava Project, and situated in the La Libertad Department of Northern Peru. Geophysical and field mapping crews are currently deployed at Luz Maria and Canarava 1, following up on previous work conducted as it relates to strong magnetic anomalies coincident with large alteration footprints, typical of Andean copper-molybdenUM porphyry systems. The previous geophysical results and field mapping confirmed the potential for a large porphyry Cu-Mo cluster under the sedimentary and colluvial cover, providing valuable targets for further exploration, which the Company is now working to further validate.

Approximately 16-line kilometres of pole-dipole Induced Polarization (IP) geophysical surveys will be completed near term, aimed at identifying sulphide rich mineralization and possible blind intrusions under the strongly altered Cretaceous sedimentary rocks and under recent colluvium. The acquisition of geophysical data is supported by an in-house geophysicist, with ample experience in exploring for porphyry and intrusion-related systems in the Andes, responsible for the daily quality control of the data, as well as for the processing and modeling. The Company is simultaneously acquiring systematic portable-XRF soil data, aimed at vectorizing the Cu-Mo distribution at surface, as well as pole-dipole IP geophysical data to identify sulphide-rich and/or resistivity anomalies, possibly indicating the presence of mineralized bodies under the sedimentary and the recent colluvial covers.

The current field programs will allow the Company to extend mapping and sampling outside the main creeks, where all outcrops of mineralized intrusive have been found to date, with the intent of confirming the presence of significant and continuous Cu-Mo porphyry mineralization at a higher level of geological confidence and across a more prominent alteration footprint. The Company believes that the integration of this large dataset will provide a solid picture about the potential of both prospects, supporting the next phase of scout drilling expected to commence by third quarter of 2024. Previous work at the Luz Maria prospect successfully defined a 2.7-kilometre by 1.5-kilometre phyllic and potassic alteration footprint, comparable in size to other major Peruvian porphyry deposits.

A 46 diamond-sawn channel sampling campaign displayed consistent anomalous grades up to 0.06% Cu and 0.03% Mo from multi-phase intrrusions, confirming at least three intrusion phases that host both Cu and Mo-sulphide mineralization. The highly-pro prospective porphyry targets which coincide with Cu-Mo anomalies at both Luz Maria and CanaBa 1, defined across previous work and currently being further validated and potentially extended, allows the Company to delineate key areas for the prospective drill program. The company are very excited with the evidence of these large, well-preserved porphyry systems located in such a new, accessible, and socially favorable sector of La Libertad.

It is unusual to find a virtually unexplored exposed porphyry anywhere in the world, but particularly so in Peru, where some of the larger porphyry discoveries of the past 50 years have been made. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations collected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct.