Granting of Incentive Stock Options

Rhea-AI Summary

Atico Mining Corporation (ATCMF) announced the granting of 1,913,936 incentive stock options at an exercise price of $0.205 per share. These options are available for directors, officers, employees, and consultants for a five-year term, aligning with the Company's stock option plan.

Atico is focused on copper and gold projects in Latin America, particularly generating cash flow from the El Roble mine and developing the La Plata VMS project in Ecuador. The Company also seeks advanced stage acquisition opportunities to enhance growth.

Positive

• Granting of 1,913,936 incentive stock options may align interests of employees and management with shareholders.
• Atico generates significant cash flow from the El Roble mine, supporting operational stability.
• The development of the La Plata VMS project may enhance future revenue potential.

Negative

• Exercising stock options might dilute existing shares if not balanced by company growth.
• -

VANCOUVER, British Columbia, April 21, 2023 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces that pursuant to the Company's stock option plan, 1,913,936 incentive stock options exercisable at $0.205 per share for a period of five years have been granted to directors, officers, employees and consultants of the Company.

About Atico Mining Corporation

Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.

ON BEHALF OF THE BOARD

Fernando E. Ganoza
CEO
Atico Mining Corporation

Trading symbols: TSX.V: ATY | OTC: ATCMF

Investor Relations
Igor Dutina
Tel: +1.604.633.9022

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

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com

FAQ

What are the details of the stock options granted by Atico Mining Corporation?

Atico granted 1,913,936 stock options exercisable at $0.205 per share for five years to directors, officers, employees, and consultants.

What is Atico Mining Corporation's stock symbol?

The stock symbol for Atico Mining Corporation is ATCMF.

What projects is Atico Mining Corporation currently developing?

Atico is developing the La Plata VMS project in Ecuador and operates the El Roble mine in Colombia.

How does Atico Mining Corporation generate cash flow?

Atico generates cash flow primarily through the operation of the El Roble mine.

What is the purpose of the stock options granted by Atico Mining Corporation?

The stock options are designed to align the interests of executives and employees with those of shareholders.