Alta Copper Corp. provided an update on significant developments and progress to date on several fronts at its 100% owned Canariaco advanced staged copper project. Whittle Consulting Pty Ltd. ("Whittle") and Ausenco Engineering Canada Inc. ("Ausenco") and AGP Mining Consultants Inc. were engaged in 2023 for purposes of advancing project optimization which involves a rigorous analytical and computational process using Whittle's Strategic Mine Planning software and Integrated Strategic Planning concepts.

To date, hundreds of iterations of pit shells have been conducted to establish the most advantageous mine plan. In addition, statistical studies that identified several compelling alteration effects on the deposit, were incorporated into 3D Geological Modelling and have been linked to zones with higher copper grades all of which will be incorporated in Optimized PEA. Based on what are considered very positive developments with 3D Geological Modelling, more fully described below, positive metallurgical testwork on Cañariaco Sur and Whittle optimization, the Company is now targeting to publish the optimized 2024 PEA on or before May 15, 2024.

The Optimized PEA has benefited from previously conducted engineering studies over many years, especially 2010 through 2014 and 2021 to 2022, which will prove to show many aspects developed beyond a typical PEA level. A new geological model for the Project has been completed with the re-interpretation of district-scale and project-specific geology including statistical analyses on alteration effects to various lithologies. This new geological model, has identified significant mineralization potential and numerous high priority drill targets which will provide the foundation for the planned staged 10,000 to 20,000 metre drilling program targeted to commence by Q4-2024.

The 2024 geological modelling has identified several high-grade copper zones with previously untested potential depth extensions. These zones as well as internal zones, where infill drilling could expand some high-grade zones, will be drill tested with the goal of further enhancing the current substantial mineral resource already defined at Cañariaco. The 2024 geological model for alteration and lithologies relies on detailed logging of 85,000 metres drilled between 2006 and 2013, largely in Cañariaco Norte.

Information which was captured in historic logs has been recently reviewed. Multi-element geochemical data available for most of the holes was used to establish lithological and alteration zonation modelling. The data collected has not previously been incorporated into a formal three-dimensional geological model.

Interpretation of geology was hand drawn on cross sections, where appropriate, and together with the other technical datasets, was integrated into Leapfrog software to generate the new three-dimensional model. Current geological model and observations from historical drilling will provide the framework for upcoming diamond drilling program. In addition, a generative study is underway to provide a portfolio of targets for future testing, in a district that remains underexplored.