Chakana Copper Corp. Announces Effective Date of Share Consolidation

Effective at the opening of market on February 28, 2025, the common shares of Chakana will commence trading on a post-Consolidation basis under the existing ticker symbol "PERU" and new CUSIP: 15748D205; ISIN: CA15748D2059. There were 267,008,571 common shares of Chakana outstanding prior to the Consolidation and following the Consolidation Chakana will have approximately 26,700,857 common shares outstanding.

No fractional shares will be issued in connection with the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole common shares and no cash consideration will be paid in respect of the fractional shares. Registered holders of common shares of Chakana will receive a letter of transmittal from TSX Trust Company with instructions on how to exchange existing share certificates or DRS' for new post-Consolidation share certificates or DRS'. Non-registered shareholders who hold their common shares through a securities broker or other intermediary and do not have shares registered directly in their name will not be required to take any measures with respect to the Consolidation.

The exercise price and number of Common Shares issuable upon the exercise of Chakana's outstanding stock options and warrants have been proportionately adjusted to reflect the Consolidation in accordance with the terms of such securities.

ON BEHALF OF THE BOARD

(signed) "Douglas Silver"
Douglas Silver
Chairman of the Board

And

(signed) "David Kelley"
David Kelley
President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.