LA Los Andes Copper Ltd

Los Andes Copper Ltd. ("Los Andes", or the "Company") (TSX
VENTURE:LA)(PINKSHEETS:LSANF) is pleased to announce that the Company's wholly
owned subsidiary, Rocin SpA ("Rocin"), has entered into an agreement (the
"Agreement") with Icafal Inversiones S.A. ("Icafal") for the development and
financing of a hydroelectric project generation facility with an expected
installed capacity of 28-30 MW (the "Hydroelectric Facility") on the Rocin
River, Putaendo, Fifth Region, Chile.


Icafal Inversiones S.A. is the investment subsidiary of Icafal S.A., one of the
leading engineering and construction conglomerates in Chile (www.icafal.cl).
Icafal S.A. has been in operation for more than 30 years, has 2,800 employees
and annual revenues in excess of US$200 million. Icafal's vast experience in
design and construction of infrastructure, water management and hydroelectric
facilities includes the construction of run-of-river hydroelectric plants of a
similar configuration as the planned Hydroelectric Facility.


The main terms of the Agreement are:



--  Rocin will incorporate a subsidiary company (the "Subsidiary") that will
    own, develop, build and operate the Hydroelectric Facility and will
    transfer to the Subsidiary its non-consumptive water rights over a
    section of the Rocin River, Putaendo, Fifth Region, Chile, together with
    the engineering and other studies and reports for the development of the
    Hydroelectric Facility 
--  Icafal has agreed to make an investment of US$7.5 million (the "Total
    Investment") in shares of the Subsidiary 
--  US$2 million of the Total Investment will be used to finance the
    development of the Hydroelectric Facility, to be invested during the
    initial development period 
--  The remaining $5.5 million will be used to partially finance
    construction, and will be invested by Icafal once the Subsidiary has
    obtained all required permits and construction and other material
    contracts are in place 
--  Icafal will be entitled to a 36.3% interest in the Subsidiary after it
    has made the Total Investment of US$7.5 million 
--  The Subsidiary and Icafal have agreed to enter into a fixed price
    contract for the initial development of the Hydroelectric Facility 



Energy prices in Chile are currently among the highest in Latin America, and
domestic energy consumption is projected to continue to increase at annual rates
of 6% to 7% at least to 2020. The development of new generation projects to
satisfy this increased demand is proving to be a major challenge. 


A number of power projects in Chile, in particular large-scale hydro and thermal
plants, have been suspended in recent years, mainly due to resistance from local
communities and environmental groups and difficulties in securing environmental
approvals. The Chilean government's strategy for the development of the power
sector is to prioritize the development of renewable energies, including small
to mid-size run-of-river hydroelectric plants.


The Company estimates that development and construction of the Hydroelectric
Facility will take approximately 3-4 years to complete. Once in operation, the
Hydroelectric Facility is expected to generate operating cash flow sufficient to
cover the Company's working capital needs and a portion of the exploration and
feasibility work for the Vizcachitas project. The Hydroelectric Facility is also
expected to ultimately provide a portion of the power requirements for the
Company's mining operations. 


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; including, without limitation, the achievement
and maintenance of planned production rates, the evolving legal and political
policies of Chile, the volatility in the Chilean economy, military unrest or
terrorist actions, metal and energy price fluctuations, favourable governmental
relations, the availability of financing for activities when required and on
acceptable terms, the estimation of mineral resources and reserves, current and
future environmental and regulatory requirements, the availability and timely
receipt of permits, approvals and licenses, industrial or environmental
accidents, equipment breakdowns, availability of and competition for future
acquisition opportunities, availability and cost of insurance, labour disputes,
land claims, the inherent uncertainty of production and cost estimates, currency
fluctuations, expectations and beliefs of management and other risks and
uncertainties, including those described in Management's Discussion and Analysis
in the Company's financial statements. 

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Los Andes Copper Ltd.
Eduardo Covarrubias
President & CEO
(56-99) 323-3156


Los Andes Copper Ltd.
Michael Kuta
Corporate Secretary
604-697-6201
info@losandescopper.com
www.losandescopper.com

Los Andes Copper (TSXV:LA)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Los Andes Copper (TSXV:LA)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024