Atacama Copper to Become Fuerte Metals

Vancouver, British Columbia--(Newsfile Corp. - August 22, 2024) - Atacama Copper Corporation (TSXV: ACOP) ("Atacama Copper" or the "Company") is pleased to announce that it has changed its name to "Fuerte Metals Corporation" (the "Name Change") and trading symbol to "FMT". The board of directors passed a resolution on August 16^th, 2024, approving the Name Change in accordance with the Articles of the Company.

It is anticipated that the Company's common shares (the "Common Shares") will commence trading on the TSX Venture Exchange (the "TSXV") under the new name, "Fuerte Metals Corporation" effective as of the open of markets on August 26, 2024. The Common Shares will trade under the trading symbol "FMT" on the TSXV.

Tim Warman, CEO, commented: "Fuerte, Spanish for 'Strong', is a perfect description of this company. Strong management with a long history of discovery and value creation, strong backers with a record of supporting successful companies, and a strong vision for the company. In addition to our precious metals-rich Cristina project, the Company retains a significant focus on copper with Placeton/Caballo Muerto project in Chile which hosts several porphyry copper targets situated between the giant Relincho and El Morro/La Fortuna copper-gold deposits of the Teck/Newmont Nueva Union joint venture."

We anticipate increased news flow this fall. After a short break during the rainy season in Chihuahua, drilling will resume at Cristina in early September with a focus on resource expansion in new target areas and the higher-grade portions of the known deposit. Based on the near-vertical structure of the Cristina veins, and the numerous coherent higher-grade zones identified to date, the Company believes the deposit is both amenable and better suited to underground mining. Drilling will continue through early 2025 as we completed a fully funded 21,000 m program ahead of a resource update later next year.

The CUSIP number assigned to the Company's shares following the Name Change is 35958L101 (ISIN: CA35958L1013).

The Name Change does not affect the rights of the Company's shareholders. There is no consolidation or division of capital associated with the Name Change. Shareholders will not be required to take any action in connection with the Name Change. Issued certificates or direct registration statements representing Common Shares will not be affected by the Name Change and will not need to be exchanged. The Company encourages shareholders to contact their broker with any questions regarding the Name Change.

About Fuerte Metals Corporation

Fuerte Metals is a well-funded resource company adding value through the acquisition, exploration, and development of copper and precious metals projects in the Americas. The company is carrying out a 21,000 m drilling campaign at its Cristina precious metals project in Chihuahua Mexico, with the goal of significantly expanding the existing mineral resource estimate with a focus on underground mining. Drilling is also planned for the Yecora copper project in Sonora Mexico. In Chile, the Placeton/Caballo Muerto project hosts several untested porphyry copper targets situated between the large-scale Relincho and El Morro/La Fortuna copper-gold deposits of the Nueva Union joint venture between Teck and Newmont Mining.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the anticipated timing from which the Common Shares will trade on the TSXV under the new name of the Company and management's objectives, strategies, beliefs and intentions and receipt of final approval from the TSX Venture Exchange. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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

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