Los Andes Copper Ltd. announced the results of a positive Pre-Feasibility Study (PFS) at its 100% owned Vizcachitas Project (Vizcachitas or the Project), a world class porphyry copper project, located 150 km north of Santiago. The PFS has been prepared by Tetra Tech Sudamérica S.A. Vizcachitas PFS Highlights Robust Economics: A $2.8 billion post-tax net present value ("NPV") using an 8% discount rate and an internal rate of return ("IRR") of 24% at $3.68/pound ("lb") copper, $12.9/lb molybdenum and $21.79/ounce ("oz") silver. Pre-production capital cost of $2.4 billion, with a construction period of 3.25 years.

Payback period of 2.5 years from initial production. World-Class Resource: Proven & Probable Reserves of 1.22 billion tonnes at 0.36% copper, 136 ppm molybdenum, 1.1 g/t silver, which equates to a copper equivalent ("CuEq") grade of 0.41% (Proven Reserves of 302 million tonnes at 0.41% copper, 135 ppm molybdenum, 1.2 g/t silver; and Probable Reserves of 917 million tonnes at 0.34% copper, 136 ppm molybdenum, 1.1 g/t silver). Measured & Indicated Resources increased by 16% to 14.8 billion lbs CuEq (Measured Resource of 2.605 billion lbs copper, 84 million lbs molybdenum and 11 million oz silver, and Indicated Resource of 10.416 billion lbs of copper, 442 million lbs of molybdenum, and 43 million oz of silver) and Inferred Resource increased by 130% to 15.4 billion lbs CuEq (13.747 billion lbs copper, 495 million lb molybdenum, 55 million oz silver) with respect to the June 2019 Preliminary Economic Assessment ("PEA").

Long-Scale, Long-Life, High-Margin Production: Average annual production of approximately 183,017 tonnes of copper at a C1 cost of $0.93/lb copper (net of by-products) for the first 8 years. Initial Project Life of Mine ("LOM") 26 years producing 8.763 billion lbs copper, 273.3 million lbs molybdenum, and 32.7 million oz silver. Realized CuEq metal price (net of smelter return and selling expenses) of $3.50/lb copper sold, yielding a 44% all-in-sustaining margin.

Low strip ratio (waste:ore) of 1.54:1 for first 8 years, and strip ratio 2.33:1 for LOM. Favorable metallurgy including low levels of clay, resulting in high copper recoveries (average of 91.1%) and supporting the use of filtered tailings. Sustainable and Responsible Mining: Signed letter of intent for desalinated water, eliminating the need to draw on continental water.

Reduced water consumption by approximately 50% (from previous design) through use of dry- stacked filtered tailings. Reduced power consumption by 25% (from previous design) through use of high pressure grinding rolls ("HPGR") technology. CO2 emissions Scope 1 projected at 1.02 h CO2e /t CuEq, and Scope 2 at 0.