Western Metallica Announces Initial Drill Results From Its Nueva Celti Copper Project

TORONTO, April 17, 2023 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS) ("Western Metallica" or the "Company") is pleased to report on the results of the first hole drilled at the Company's 100% owned Nueva Celti Project, a past producing copper mine with significant exploration potential, located in the southernmost region of Spain.

Nueva Celti is a highly prospective project that spans 1,250 hectares with an additional 5,100 hectares in the process of being secured to the East of the known mineralization with the application of the Retortillo investigation permit. The project is located in the Ossa Morena geological province in Andalusia, positioned in a region where copper mineralization has been recognized since ancient times. The Nueva Celti Project has now been prioritized by the Company as a strategic exploration project due to these initial results demonstrating comparability to the vast amounts of regional and historical data, as well as past production of commercial grade copper with high quality infrastructure on and adjacent to the property.

Western Metallica recently launched a diamond drilling program aimed at validating the grades and confirming the geology interpreted compiling the historical information from the ?Asturiana de Zinc', Glencore, drilling program. Refer to Figure 2 for the location, and Table 2 for the details, of the planned holes that will be executed across two different phases totaling approximately 3,000 metres. The drilling program will target the ore bodies below the historical mine levels with the aim of proving the continuity of the ore bodies at depth for at least 400 metres, and for more than 400 metres on strike. Furthermore, the Company has planned the execution of both gravimetric and magnetic ground geophysical surveys aimed at broadening the target area and immediately generating further drill targets. The Company is financed to complete this program and a substantially larger program with approximately CAD $4.7 million in the treasury.

The results from the first hole, NCDD001, have confirmed the presence of the ore bodies reported by the ?Asturian de Zinc', Glencore drilling program, as well as intersected other shallower and deeper mineralized zones (refer to Table 1) with total widths and grades comparable with the historical results. The control on mineralization, mainly represented by a total >50% of disseminated magnetite, pyrite and chalcopyrite, seems mainly lithological with the copper-mineralized zone coinciding with layers of muscovite and biotite-schists locally fragmental (meta-volcaniclastics) within an amphibolite unit (meta-volcanics).

Table 1: Significant Results from Drill Hole NCDD001.

Figure 1: Nueva Celti cross section 100S containing hole NCDD001 from the current Western Metallica drilling program. The position of the mine levels is also shown.

Table 2: Nueva Celti Project Drill Program Schedule

Figure 2: Nueva Celti 1^st and 2^nd phase drilling platform locations. Mise-A-La-Masse anomalies (1975 survey) on background and position of mag anomalies (1975 survey)

Results of the second drill hole, NCDD002, localized 100 metres north of drill hole NCDD001, are expected to be returned at the beginning of May. Management's initial impression is that orebodies may anastomose giving origin to a single, wider, Cu-sulfide bearing body.

Western Metallica is in the process of securing the land covering the potential repetition toward the East of the same-trending mineralization, with the application of the Retortillo investigation permit covering 5,100 hectares. With the amalgamation of Nueva Celti and the Retortillo permit, the prospective project could span over 6,300 hectares of combined exploration potential (refer to Figure 3).

 Figure 3: Location of the area under investigation on respect to the Nueva Celti and Retortillo (applied) Investigation Permits.

Quality Assurance and Quality Control

Sample preparation and analyses will be conducted according to standard industry procedures. Drill core samples are crushed, split and pulverized prior to analysis of Gold by fire assay and Atomic Absorption and multi-elements by ICP-AES after four acid digestion. Analytical performance is monitored by means of certified reference materials (CRMs), coarse blanks, coarse and pulp duplicate samples. Samples have been prepared in ALS Chemex preparation lab in Seville, Spain and analyses have been completed in ALS Rosia Montana, Alba, Romania (Fire Assays) and LAS Loughrea, Galway, Ireland (ICP).

Qualified Person

The technical and scientific information in this press release has been reviewed and approved by Mr. Giovanni Funaioli, Eur.Geol., Vice President Exploration of Western Metallica, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Giovanni Funaioli is an employee of the Company and is not considered independent under NI 43-101.

About Western Metallica Resources Corp.

Western Metallica is an Ontario company with its head office in Toronto, Ontario, trading on the TSX Venture Exchange (TSXV) under symbol WMS. Western Metallica is in the business of mineral resource exploration and development, its principal asset is its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia, Spain. Western Metallica also holds interests in three other Spanish gold projects in the "Navelgas Gold Belt" in Asturias, Spain (Penedela, Valledor and Sierra Alta).

Further information of the Company can be found at: www.westernmetallica.com

For more information please contact:

Western Metallica Resources Corp.
Gregory Duras
Chief Executive Officer
Email: [email protected]

Investor Relations
Email: [email protected]

Cautionary Note Regarding Forward-Looking Statements

The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned drill program and the development of the Project and other mining projects and prospects thereof. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Three figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/eb9466d8-034e-4e7a-8852-92a3bbc6f1b1

https://www.globenewswire.com/NewsRoom/AttachmentNg/0b3f7979-3cdc-4aa0-879d-2465e651593b

https://www.globenewswire.com/NewsRoom/AttachmentNg/e6ff869a-20d0-4c19-9363-bd1456efc2d0