ATERRA Metals Inc. is focused on the exploration of copper and gold deposits in Chile. Management has been active in Chile since the early 1990s and has made numerous major discoveries over the years including the Volcan Deposit (Andina Minerals), the Fenix Deposit (Atacama Pacific - recently put into production by RIO2) and the Valeriano Deposit (ATEX Resources).
Totora Cu/Au Project
ATERRA recently acquired a group of copper-gold porphyry properties in Chile’s Region III with the goal of outlining a group of near-surface, economically viable copper-gold deposits. Located 60 kilometres south of Vallenar adjacent to Highway 5, the properties include: the Frontera Property which hosts the Frontera copper-gold deposit; the Clinton Property which hosts the Clinton copper-gold porphyry; and the Taruca Property which hosts a number of copper-gold systems including the Totora and Algarrobilla porphyries. A fourth property was recently added to the portfolio – the Sevilla Project. The four properties are collectively referred to as the Totora Cu/Au Project. ATERRA continues to review properties for acquisition in the Totora area.
During 2026, ATERRA is focused on drilling its Totora Project properties with the goal of publishing a resource estimate during the second half of the year. The Totora program will be comprised of both infill drilling and identifying extensions of the known mineralized porphyries.
Geological Summary of the Totora Cu/Au Project
The Totora Project area covers a portion of an important NE-SW fault, informally called the "Pajonales Structural Corridor", which hosts a series of mineralized copper-gold porphyries such as Frontera (ATERRA), Pajonales (CMP), Pajonales Norte (CMP), and Clinton (ATERRA).
The Totora Project area lies at the boundary between the Coastal Cordillera to the west, and the Atacama fault system to the east. During the Cretaceous, a thick sequence of andesites and minor sediments developed in an extensional regime within volcanic island-arc settings. A variety of porphyritic stocks have intruded this sequence, some of which are probably contemporaneous with the volcanics. Late Cretaceous porphyritic intrusions host the majority of the copper-gold deposits observed in the area including those within the Totora Project.
NI 43-101 Technical Disclosure
As defined in National Instrument 43-101 (“NI 43-101”) of the Canadian Securities Administrators, the Qualified Person for ATERRA’s exploration activities in Chile is Francisco Bravo, a resident of Santiago, Chile. Mr. Bravo, who is not Independent of ATERRA as that term is defined under NI 43-101, is a Public Registered Person for Reserves and Resources N° 515, in Chile, and is registered in the Colegio de Geólogos de Chile under N° 725. Mr. Bravo has approved the technical disclosure presented within ATERRA’s website.
Historical Results: ATERRA has not undertaken any independent investigation of the historical results from the Totora Properties nor has it verified the underlying technical basis for the historical resources and drilling results, including assays, geology and hole orientation. The reader is cautioned against relying on the accuracy of the historical results presented; however, ATERRA considers all historical results to be relevant as those results will be used as a guide to plan future exploration programs: ATERRA considers the data to be reliable for these purposes. See the “Note:” associated with Table 1 for disclosure regarding the Frontera historical resource estimate.