Los Andes Announces Third Results of 2017 Drill Program at the Vizcachitas Deposit

The key results from these holes are:

V2017-04:

• 90.0 m @ 0.51 % Cu, 127 ppm Mo and 1.6 g/t Ag (0.56 % CuEq) from 92.0 m downhole
  
  Including:
  
  30.0 m @ 0.60 % Cu, 121 ppm Mo and 1.8 g/t Ag (0.65 % CuEq) from 142.0 m downhole

V2015-08Ex: (from last year's bottom of 725.5 metres)

• 26.0 m @ 0.50 % Cu, 441 ppm Mo and 1.1 g/t Ag (0.62 % CuEq) from 804.0 m downhole

• 28.0 m @ 0.53 % Cu, 361 ppm Mo and 1.0 g/t Ag (0.64 % CuEq) from 946.0 m downhole

V2017-05:

• 28.0 m @ 0.55 % Cu, 234 ppm Mo and 0.9 g/t Ag (0.62 % CuEq) from 170.0 m downhole

• 48.0 m @ 0.55 % Cu, 248 ppm Mo and 1.1 g/t Ag (0.63 % CuEq) from 212.0 m downhole

• 18.0 m @ 0.53 % Cu, 151 ppm Mo and 1.2 g/t Ag (0.58 % CuEq) from 286.0 m downhole

• 22.0 m @ 0.53 % Cu, 179 ppm Mo and 1.4 g/t Ag (0.59 % CuEq) from 368.0 m downhole

• 80.0 m @ 0.53 % Cu, 285 ppm Mo and 1.9 g/t Ag (0.63 % CuEq) from 798.0 m downhole
  
  Including:
  
  36.0 m @ 0.59 % Cu, 183 ppm Mo and 2.1 g/t Ag (0.66 % CuEq) from 840.0 m downhole

Cautionary Statement: All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Background

Historical drilling was carried out on the Vizcachitas project in three exploration campaigns during 1993, 1996/1997 and 2007/2008. However, the higher grade central core had only been drilled in the 1990's campaigns and with generally shallower drill holes, therefore not properly reflecting the potential of this core area.

During 2014, a complete review of the historical information was performed to better understand the project, including re-logging all of the 146 drill holes located within the property. The re-logging was led by Gonzalo Saldias, a Chilean geologist and one of the most recognized experts in Chilean porphyry systems. This detailed review showed that the historical logging and geological model had not properly identified the importance of the higher grade early diorite porphyry and hydrothermal breccias. The re-logging showed that these higher grade geological units extend over a distance of 1,400 metres north-south and 700 metres east-west. The mapping showed that these breccias have grades increasing with depth and demonstrates the potential for higher grades below the historical drilling.

In 2015, Los Andes began a drill program to confirm a new geological model and to demonstrate the extent of the central core mineralisation. A first stage of this exploration campaign was completed in 2015/2016, with eight diamond drill holes totaling 3,661 metres. During 2017, Los Andes has carried out a second stage of this campaign with the purpose of demonstrating the northern and southern extension of the high grade core.

Location of Drill Holes:

All coordinates are in UTM WGS84

A drill hole location plan is available on our website: www.losandescopper.com

Summary of Drill Holes

Drill Hole V2017-04

This hole was drilled 200 metres to the south of drill hole V2017-02 in a south-east direction. The drill hole was planned to test the vertical extension of the hydrothermal breccias identified in the drill holes to the east. The top of bed rock was intersected at a depth of 77 metres and a sequence of andesites with hydrothermal and igneous breccias was intersected down to a depth of 329 metres. From a downhole depth of 92 metres, the drill hole intersected 90 metre @ 0.51 % Cu, 127 ppm Mo and 1.6 g/t Ag (0.56 % CuEq) and from a downhole depth of 142 metres, the drill hole intersected 30 metre @ 0.60 % Cu, 121 ppm Mo and 1.8 g/t Ag (0.65 % CuEq). These intersections support the new geological model demonstrating the continuity of the higher grade associated with the hydrothermal breccias near surface.

From a depth of 329 metres, this drill hole intersected a long sequence of intermineral lower grade granodiorite until the end of the hole at a depth of 653 metres. The drill hole did not intersect the andesite host rock as expected, demonstrating that the intrusive system is open to the east at this point.

Key intersections from drill hole V2017-04:

* Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Drill Hole V2015-08Ex

The drill hole V2015-08 was drilled to a depth of 725.5 metres during the 2015/2016 drill campaign but was stopped at this depth due to budget restrictions. The casing was left in the hole so during this campaign we were able to re-enter the hole and extend it. The hydrothermal breccia that was intersected in 2016 at a depth of 712 metres continued through to a depth of 745 metres. From a depth of 745 metres to the end of the drill hole at a depth of 1,001 metres, the drill hole intersected a long sequence of the target early diorite porphyry. This included from a downhole depth of 804 metres, 26 metre @ 0.50 % Cu, 441 ppm Mo and 1.1 g/t Ag (0.62 % CuEq) and, from a downhole depth of 946 metres, 28 metre @ 0.53 % Cu, 361 ppm Mo and 1.0 g/t Ag (0.64 % CuEq). The results of this drill hole support the geological model showing the well mineralised early diorite porphyry over a long sequence in the core of the project.

Key intersections from drill hole V2015-08Ex:

* Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

Drill Hole V2017-05

The drill hole V2017-05 was drilled in the northern part of the project in a westerly direction. The aim of the hole was to drill from the unmineralised diatreme out towards the early diorite porphyry that had been intersected in drill hole V-39 back in the 1990s. The re-interpretation of the drill hole V-39 with the well mineralised intersection of the early diorite porphyry was key to identifying the extension to the north of higher grade mineralization.

The drill hole intersected, from a depth of 60 metres, a sequence of unmineralised diatreme and post mineral dacite dykes to a downhole depth of 169 metres. From a downhole depth of 170 metres, the drill hole intersected the early diorite porphyry with 28 metre @ 0.55 % Cu, 234 ppm Mo and 0.9 g/t Ag (0.62 % CuEq).

From a depth of 198 metres, a sequence of early diorite porphyry, fine diorite and medium grain diorites extends to a downhole depth of 377 metres. Within this sequence, the drill hole intersected 48 metre @ 0.55 % Cu, 248 ppm Mo and 1.1 g/t Ag (0.63 % CuEq) from a downhole depth of 212 metre and 18 metre @ 0.53 % Cu, 151 ppm Mo and 1.2 g/t Ag (0.58 % CuEq) from a downhole depth of 286 metre.

From a depth of 377 metres to depth of 658 metres, the drill hole intersected a hydrothermal breccia and then, from 658 metres to 904 metres, the hole intersected medium grained dirorites and igneous breccias. This is the first intersection of hydrothermal breccias this far north in the project. From 904 metres to the end of the drill hole at 931.9 metres, the drill hole intersected an intermineral tonalite intrusive. This sequence included 80 metre @ 0.53 % Cu, 285 ppm Mo and 1.9 g/t Ag (0.63 % CuEq) from a downhole depth of 798 metre .

These intersections of the well mineralised hydrothermal breccias and early diorite porphyry support the northern extension of the well mineralised central core. In the 2014 block model, this northern area was interpreted as either waste or low grade material.

Key intersections from drill hole V2017-05:

* Copper equivalent grade has been calculated using the following expression: Cu Eq (%) = CuT (%) + 2.5 x Mo (%) + 110.55 x Ag (%), using the metal prices: $ 2.2 / lb. Cu, $5.5 / lb. Mo and $15.2 / Oz (same reference prices as in reporting of 2015/2016 results). All thicknesses from intersections from drill holes are down-hole drilled thicknesses. True widths cannot be determined from the information available.

QA/QC

Quality assurance and quality control procedures include the systematic insertion of duplicate and standard samples in to the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and were shipped directly to the preparatory laboratory of ALS Minerals in Coquimbo, Chile. All geochemical analyses were performed by ALS Minerals in Lima Peru. All samples were assayed using the method ME-MS61, a four-acid digestion with an ICP-MS finish. Copper samples with grades above 0.6 % Cu were reanalysed using ALS method Cu-OG62, a four-acid digestion with an AAS finish.

Mr. Amberg MSc CGeol FGS is the Qualified Person responsible for the preparation of this news release.

Team Credentials

Mr. Amberg MSc CGeol FGS is a geologist who is a graduate of the Royal School of Mines, London, has an MSc. from University College and is also a Chartered Geologist with the Geological Society of London. He has close to 30 years of diverse experience having worked in Asia, Africa and South America for both multinational and junior companies. He began his career in 1986 working with Anglo American in South Africa before moving on to an exploration position with Severin-Southern Sphere. In 1990 Mr. Amberg moved to Chile where he first worked with Bema Gold on the Refugio project before taking up a position with Rio Tinto. At Rio Tinto he was involved in exploration programs in the Atacama and Magallanes Regions and managed the Barreal Seco (now part of Las Cenizas) exploration program. In 1996 he joined Kazakhstan Minerals Corporation in Kazakhstan, setting up and managing offices for the drilling and resource estimation for JORC compliant feasibility studies on three large projects that are now operating mines. He became General Director for two joint ventures in KazMinCo where he managed all technical and local issues. In 2001 he returned to Chile where he started a geological consulting firm specialising in project evaluation and NI 43-101 technical reports. Mr. Amberg's clients included Rio Tinto, Barrick, Codelco, Anglo American, Pan Pacific Copper and various junior mining companies. He joined Los Andes Copper in 2012 as Chief Geologist and is now also the President and Chief Executive Officer.

Mr. Amberg MSc CGeol FGS is a Qualified Person under NI 43-101.

Gonzalo Saldias is a geologist who is a graduate of Universidad Católica del Norte, Chile. He has over 35 years of experience working within Chile and internationally; mainly on copper porphyry, epithermal gold silver and iron-oxide copper gold systems. For the last seven years, he worked for Antofagasta Minerals evaluating copper porphyry projects within Chile, assessing their geological and economical potential. Prior to that he had worked for ten years with Placer Dome Latin America, generating and evaluating exploration projects within the region. Prior to Placer Dome, he worked for Codelco as head of exploration geology for the El Salvador Division, developing the prospective areas near to the mine. He also worked for Northern Resources, Homestake, Utah, Anaconda and as an independent consultant.

For more information please contact:

Antony J. Amberg, President & CEO
Tel: +56 2 2954-0450

Aurora Davidson, CFO
Tel: 604-697-6207

E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com

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