Mich Resources Ltd. announced that further to its news release dated July 30, 2021, the Company has entered into definitive agreements (the "Definitive Agreements") with each of Pembrook Copper Corp. ("Pembrook") and Minera Andina de Exploraciones SAA ("Minandex") for the acquisition of the advanced stage Pecoy exploration copper project (the "Pecoy Project") located in Peru (the "Transaction"). The Pecoy Project is an advanced exploration copper project located one hundred and fifty kilometres northwest of Arequipa, within the Cretaceous Copper Porphyry Belt of Peru, host to the Zafranal Cu porphyry (Teck Resources Limited and Mitsubishi Materials Corporation) located approximately 100 kilometers to the southeast of the project. The Pecoy project is located within the Peruvian coastal desert region which grades into the Atacama desert further south in Chile. Topography within the project area ranges from 800m at the Rio Oco?a, to slightly more than 4,000m at the higher ridges. Within the area of mineralization, the relief ranges from 1650m to 2200m. There is no infrastructure in the immediate project area, but water is available from the Rio Oco?a delta some 8 km to the west, and power is available from the national grid 100 km from site. The site also has excellent road access to a number of nearby seaports for shipping of concentrates. The combined Project area consists of approximately 13,300 hectares. Exploration on the Property dates back to 2009, and consists of 48,500m of diamond drilling in 121 drill holes completed by previous operators including Pembrook. The project database consists of 1,222 downhole surveys, and 23,210 assays. The average drill spacing is about 118m in the main mineralized zone on the Pembrook property, and 80m on the Minandex (Oca?a) side. The project database also includes quality control data including blanks, standards and duplicates.