World Copper Ltd. provided an update to the Escalones Copper project in Central Chile in relation to a presidential decree establishing a sanctuary of nature in the area of the Escalones Project. The Ministry of the Environment of the Republic of Chile, proposed to the President of the Republic of Chile the creation of State Protected Areas, which include marine parks and reserves, as well as sanctuaries of nature and coastal marine protected areas. the proposal was to create five new sanctuaries of nature in Chile.

Following that proposal, the President of the Republic of Chile signed decrees for the creation of these sanctuaries of nature in several locations in Chile, one of which included the upper Maipo River valley, where the company's Escalones Project is located. The decree was published in the official gazette on November 30, 2023. Management has confirmed that the Decree indeed covers the area of the Escalones Project and is presently determining the full regulatory and permitting impact of the Decree on Company plans to develop Escalones.

Following that analysis, the Company will establish the best way forward to advance the Project. The Management believes that it can continue advancing the project in compliance with the new, additional measures of natural protection added by the decree. The Company will collaborate with the owners of the surface rights to produce an adequate local management plan for the sanctuary that enables further advancement of the project and safeguards the natural environment in accordance with the aforementioned regulations.

The company is also reviewing all of their options pursuant to local and international rights in regards to the Decree, while maintaining its full commitment to the highest industry standards for environmental protection and sustainability.