Camino and Japanese Miner Nittetsu Mining Sign Agreement for Interest in the Los Chapitos Copper Project in Peru

VANCOUVER, BC / ACCESSWIRE / June 14, 2023 / Camino Corp. (TSXV:COR) (OTC PINK:CAMZF) (WKN:A116E1) ("Camino" or the "Company") is pleased to announce that it has entered into a Definitive Agreement ("Agreement") with Nittetsu Mining Co., Ltd. ("Nittetsu") for its Los Chapitos copper exploration project ("Los Chapitos" or the "Project") in Peru.

Under the terms of the agreement, Nittetsu can earn a 35% interest in the Project by making payments and expenditures totalling CAD $10,100,000 over three years. Proceeds will be applied towards exploration, infill drilling, and metallurgical and engineering studies. After successful completion of the earn-in period, the Project will become a Joint Venture, whereby Camino will hold a 65% interest, remain operator of the Project, and retain 50% of the production off-take.

"Nittetsu is an experienced copper mining operator and a partner that is focussed on funding our Los Chapitos Project towards a development decision," said Jay Chmelauskas, President and CEO of Camino. "We plan to continue to explore our property to expand the known zones of copper mineralization to determine a potential mine size. We have known the Nittetsu team for over two years, and we believe that our partnership will realize the best development opportunity and value creation at Los Chapitos."

Key Terms:

• Payment to Camino of CAD $100,000 completed in February 2023.
• Nittetsu to pay Camino CAD $1,000,000 within 5 business days.
• Nittetsu to incur earn-in expenditures of CAD $9,000,000 over a 3-year period to earn a 35% project interest in the Los Chapitos Project with no accruing interest rights.
• First installment payment of CAD $1,500,000 to be made within 5 business days.
• Upon completion of the 35% interest acquisition by Nittetsu, a Joint Venture between parties will be established.
• Camino to remain the operator of the Project.
• Off-take on commercial basis to be shared 50% by each party.
• Exploration programs to begin immediately at the Los Chapitos Project.

"Our partnership with Nittetsu is another step towards developing our copper platform at Camino," said Keith Peck, Executive Chairman of Camino. "The advancement of Los Chapitos with Nittetsu will complement our other active corporate development activities to seek more advanced stage copper projects ahead of a strong copper market."