Bocana Resources Corp. announced that it has sent out tender requests to several companies for the diamond drill of the Escala Project for a projected April 2023 start date. Bocana has requested that the program be conducted using NQ size core drilling with a minimum of 2,000 metres be completed in the first phase of this drilling campaign ("Phase 1").

Upon completion of Phase 1, drilling will stop until all assay results have been received prior to starting the second phase ("Phase II") of drilling, a 3,000 metre follow up drilling program. The Company, through its subsidiary Huiracocha International Service SRL, has received a twelve-month work permit from the Corporación Minera de Bolivia ("Comibol"), effective January 3, 2023. The largest portion of the Phase 1 diamond drilling program occurs on the Cerro Galapago area.

A total of five of the nine proposed Phase 1 drill holes with an average proposed depth of 250 metres each will be completed in areas with high chargeability/moderate to high resistivities. The only historic drilling completed on this large porphyry target were vertically drilled in the very central area with a high chargeability/very low resistivity anomaly, this area typically hosts lower grade mineralization and is usually not the primary area to test. Separately, the Cerro Blanco area has undergone several drilling programs; however, the vast majority of drilling was, again, completed by vertically dipping drill holes.

Recent data suggests a near vertically dipping, structural influence on mineralization; therefore, this area has not been properly evaluated from drill testing. Bocana will complete two, shallow dipping, 250 metre length, drill holes to test this area. Concluding the drilling program will be two holes drilled along the main mine trend to the east where there are known historical precious/base metal veins.

The induced polarization geophysical survey located an area of high chargeability and resistivity anomalies indicating an area of silicification/quartz veining with high sulphide content that has not been drill tested. Bocana plans to complete a fence of two holes, both 250 metres in length across these geophysical anomalies.