Cobre Increases Ownership in Sierra Atacama Copper Project

• Cobre Chile to own 54.38% of Sierra Atacama after capital raise
• Option to increase ownership to 63.5% through Control Option
• Final Option to acquire 100% of MSB's shares in Project Companies
• Amendments enhance Cobre Chile's rights and control over the Project

Cobre Limited, through its subsidiary Sierra Cobre SpA, has amended key agreements to increase its ownership in the Sierra Atacama Copper Project. Following a USD $12 million capital raise by Sierra Atacama SpA, Cobre Chile will own 54.38% of Sierra Atacama, up from 45%. The amendments also provide a pathway for Cobre Chile to acquire up to 63.5% of Sierra Atacama and Bergbau Wagen SpA. Additionally, Cobre Chile has options to acquire 100% of Minera Salara Blanco's shares in the project companies under certain conditions.

Cobre Chile to own 54.38% of Sierra Atacama post-capital raise

Cobre Chile has options to increase ownership to 63.5% and acquire 100% of MSB's shares in the project companies.