Alta Copper Delivers a New Geological Model; Provides Update on the Optimized PEA; Drill Permit and Community Relations

VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Alta Copper Corp. (TSX:ATCU)(OTCQX:ATCUF)(BVL:ATCU) ("Alta Copper" or the "Company") is very pleased to provide an update on significant developments and progress to date on several fronts at its 100% owned Cañariaco advanced staged copper project.

Highlights:

• New Geological Model ("2024 Model") Identifies Several High Priority Drill Targets: a new geological model for the Cañariaco project has been completed with the re-interpretation of zonation of grades within the Cañariaco Norte deposit while identifying several high priority drill targets (See Figure 3 & Figure 4);
• Conducted a generative study to define and prioritize a portfolio of targets for future testing in underexplored areas of the Cañariaco Sur and Quebrada Verde Targets (See Figure 1);
• Planned increased drill hole coverage in areas with less drill data to obtain a better understanding of the geometry and continuity of mineralized zones, breccias and the various porphyry intrusions within both the Cañariaco Norte and Cañariaco Sur deposits (See Figure 2);
• Drilling will focus on the under explored Cañariaco Sur porphyry copper gold deposit, the undrilled Quebrada Verde porphyry target and enhancement of the Cañariaco Norte deposit with both infill drilling and testing of several recently identified high grade zones open to depth;
• A 40 Platform drill permit application ("DIA") based on on Environmental and Social Impact Assessment studies completed by Yaku Consultores was submitted in December 2023 to Ministerio de Energia Minas ("MINEM"). Up to 47,000 metres of drilling will be staged in phases of 10,000 to 20,000 metre drilling each targeted to commence by Q4-2024 or earlier;
• A meeting was recently held regarding initial comments received from Dirección General de Asuntos Ambientales Mineros de Perú ("DGAAM"), Servicio Nacional Forestal y de Fauna Silvestre ("SERFOR") and Autoridad Nacional del Agua ("ANA") on the DIA application. The Company readily addressed all comments with approval of drill permits now expected by Q3-2024 or earlier;
• Optimized Preliminary Economic Assessment ("Optimized PEA") with publication of results now targeted on or before May 15, 2024; and
• Alta Copper continues to advance its long-term involvement with the community in a fashion that endeavors to benefit all stakeholders. The primary objective it is to improve sustainable development in the community which will allow for better quality of life for all community members with or without a mining project through the implementation of Economic and Social Development Support Programs and Corporate Strategic Partners. The provision of S/250,000 soles of a total of S/750,000 soles of a previous commitment has been further ratified for the development of sustainable projects in the area.

Giulio T. Bonifacio, Executive Chair, commented "We are very pleased with progress achieved to date on several fronts inclusive of our Optimized PEA and while this has taken longer than initially anticipated the results and the additional time taken will be more than justified. During the field visit in February, engineers from AGP and Ausenco identified excellent opportunities to improve the project with changes to the infrastructure layout for the site. Following this, Whittle also identified several opportunities for optimizing the mine plan. These various improvements have required additional time to incorporate into the Optimized PEA however they will prove to be of great value while further guiding the future development of the Cañariaco project which is one of the largest copper deposits in the Americas not currently held by a major. We have benefited from the wealth of previous studies and engineering work completed to date which will result in a study that is more advanced on several levels than one typically sees in many other PEA level studies."