Los Andes Copper Notes Recently Reported Share Sales by Resource Capital Fund

Rhea-AI Summary

Los Andes Copper (TSXV: LA) (OTCQX: LSANF) has disclosed that its second-largest shareholder, Resource Capital Fund VI L.P. (RCF), has been selling shares of the company. Based on insider reports filed on September 10, 2024, RCF sold Los Andes shares over 19 trading days between July 23 and September 9, 2024. Prior to these sales, RCF held a direct interest of approximately 13.6% in Los Andes, as well as an indirect beneficial ownership of about 9% through its equity stake in Turnbrook Mining , the company's largest shareholder. This information came to Los Andes' attention on September 10, 2024, and has prompted inquiries from several shareholders.

Positive

• None.

Negative

• Second-largest shareholder (RCF) selling shares over 19 trading days
• Potential reduction in RCF's 13.6% direct interest in the company
• Possible decrease in RCF's 9% indirect ownership through Turnbrook Mining

Vancouver, British Columbia--(Newsfile Corp. - September 11, 2024) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces today information which came to the attention of the Company yesterday concerning its second-largest shareholder, Resource Capital Fund VI L.P. ("RCF") and which has been the subject of inquiries from a number of shareholders.

Based on insider reports filed by RCF on September 10, 2024, the Company has learned that RCF sold common shares of the Company ("Los Andes Shares") from its holdings over 19 trading days between July 23, 2024 and September 9, 2024. The Company understands that, prior to these share sales, RCF held a direct interest in the Company of approximately 13.6%, and also an indirect beneficial ownership in Los Andes Shares through its equity interest in the Company's largest shareholder, Turnbrook Mining Limited, of approximately 9%.

About Los Andes Copper Ltd.

Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Project, which is located along Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the Company believes it will be Chile's next major copper mine.

The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company's SEDAR profile.

Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.

For more information please contact:

Santiago Montt, CEO
santiago.montt@losandescopper.com
Tel: +56 2 2954-0450

Elizabeth Johnson, Investor Relations
Elizabeth.johnson@losandescopper.com

E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com
Follow us on twitter @LosAndesCopper
Follow us on LinkedIn Los Andes Copper Ltd

Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information. Such Forward Looking Information includes, without limitation, the timing of and ability to obtain TSX-V and other regulatory approvals and the prospects, details related to and timing of the Vizcachitas Project. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223016

FAQ

What percentage of Los Andes Copper (LSANF) did Resource Capital Fund VI L.P. own before the reported share sales?

Prior to the reported share sales, Resource Capital Fund VI L.P. held a direct interest of approximately 13.6% in Los Andes Copper, as well as an indirect beneficial ownership of about 9% through its equity stake in Turnbrook Mining

Over what period did Resource Capital Fund VI L.P. sell shares of Los Andes Copper (LSANF)?

Resource Capital Fund VI L.P. sold shares of Los Andes Copper over 19 trading days between July 23, 2024 and September 9, 2024.

When did Los Andes Copper (LSANF) become aware of the share sales by Resource Capital Fund VI L.P.?

Los Andes Copper became aware of the share sales by Resource Capital Fund VI L.P. on September 10, 2024, based on insider reports filed on that date.

Who is the largest shareholder of Los Andes Copper (LSANF)?

According to the press release, the largest shareholder of Los Andes Copper is Turnbrook Mining