Camino has published a NI 43-101 Technical Report Pre-Feasibility Study (PFS) for its 50%-owned Puquios Copper Project, located in La Higuera, Coquimbo Region, Chile. The PFS outlines a robust, low-capex project with strong economic returns. The Puquios Project is designed as a low-cost, heap-leach SX-EW operation with a compact footprint and high-efficiency recoveries, providing long-term copper production from a well-established mining district.

NI 43-101 Key Project Highlights:

• After-Tax NPV (8%): US$118 million
• After-Tax IRR: 23.4%
• Copper Price Assumption: US$4.28/lb (see news release dated March 17, 2025)
• Initial Capital Cost: US$141.9 million
• All-in Sustaining Cost (AISC): US$2.00/lb
• Mine Life: 14.2 years
• Mineral Reserves: 25,973 kt @ 0.494% Cu
• Recovery: 78.8%
• Annual Production: Up to 9,000 tpa copper cathode

Classification	Tonnes (kt)	Grade			Contained Metal (kt)
		CuT%	CuS%	CuCN%
Measured	26,496	0.475	0.117	0.232	126
Indicated	5,664	0.399	0.111	0.167	23
Measured + Indicated	32,160	0.462	0.116	0.220	149
Inferred	660	0.295	0.133	0.059	2

Notes to accompany Mineral Resource table: 

1. Mineral Resources are classified using the 2014 CIM Definition Standards.
2. The Qualified Person for the estimates is Mr. Cristian Quiñones, RM CMC, AsGeoMin SpA.
3. Mineral Resources have an effective date of 8 March 2021.
4. Mineral Resources are reported using a cut-off grade of 0.15% total copper (CuT).