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VANCOUVER, April 23, 2026 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) today announced its financial results for the year ended December 31, 2025, posting income from mining operations of $9.5 million and a net loss of $16.1 million. Production for the year at Atico’s El Roble mine totaled 9.2 million pounds (“lbs”) of copper and 8,030 ounces (“oz”) of gold in concentrate at a cash cost(1) of $2.35 per payable pound of copper(2).
Fernando E. Ganoza, CEO and Director, commented: “Throughout most of the year, the El Roble mine transitioned from the lower levels to the upper areas of our recently discovered reserves. Despite the challenges of this transition and the delay in sale of a significant portion of produced concentrate in inventory at year-end, we delivered solid margins and operating income. However, the write-down of past regional exploration expenditures materially impacted our bottom line.” Mr. Ganoza continued: “For the current year, we will remain focused on meeting our production targets, further improving cost efficiencies at El Roble, and taking full advantage of the favorable metal price environment.”
2025 Financial Highlights
Subsequent Events to the Reporting Date:
2025 Summary of Consolidated Financial Results
| 2025 | 2024 | % Change | |||||||
| Revenue | $ | 63,381,370 | $ | 68,455,363 | (7%) | ||||
| Cost of sales | (53,872,023) | (54,413,545) | (1%) | ||||||
| Income from mining operations | 9,509,347 | 14,041,818 | (32%) | ||||||
| As a % of revenue | 15% | 21% | |||||||
| General and administrative expenses | (6,097,606) | (5,735,028) | 6% | ||||||
| Income (loss) from operations | (12,841,365) | 7,946,046 | (262%) | ||||||
| As a % of revenue | (20%) | 12% | |||||||
| Loss before income taxes | (18,963,741) | (21,647,960) | (12%) | ||||||
| Net loss | (16,061,376) | (18,675,541) | (14%) | ||||||
| As a % of revenue | (25%) | (27%) | |||||||
| Operating cash flow before changes in non-cash operating working capital items(1) | 10,755,721 | 16,446,393 | (35%) | ||||||
2025 Consolidated Operational Details
In 2025, the Company produced 9.2 million lbs of copper, 8,030 oz of gold, and 30,454 oz of silver. When compared to 2024, production decreased by 33% for copper and 12% for gold, which was primarily due to lower ore production. The reduced ore supply limited mill throughput as mining activities transitioned to the upper zones of the El Roble mine.
| 2025 | 2024 | % Change | |||||
| Production(Contained metals)(3) | |||||||
| Copper (000s lbs) | 9,230 | 13,714 | (33%) | ||||
| Gold (oz) | 8,030 | 9,106 | (12%) | ||||
| Silver (oz) | 30,454 | 35,451 | (14%) | ||||
| Mine | |||||||
| Tonnes of material mined | 242,690 | 273,264 | (11%) | ||||
| Mill | |||||||
| Tonnes processed | 242,713 | 274,181 | (11%) | ||||
| Tonnes processed per day | 790 | 836 | (5%) | ||||
| Copper grade (%) | 1.89 | 2.46 | (23%) | ||||
| Gold grade (g/t) | 1.67 | 1.61 | 4% | ||||
| Silver grade (g/t) | 9.18 | 8.42 | 9% | ||||
| Recoveries | |||||||
| Copper (%) | 91.3 | 92.1 | (1%) | ||||
| Gold (%) | 61.8 | 63.7 | (3%) | ||||
| Silver (%) | 43.9 | 48.9 | (10%) | ||||
| Concentrates | |||||||
| Copper Concentrates (DMT) | 23,695 | 33,922 | (30%) | ||||
| Copper (%) | 17.7 | 18.3 | (4%) | ||||
| Gold (g/t) | 10.5 | 8.3 | 26% | ||||
| Silver (g/t) | 40.0 | 32.5 | 23% | ||||
| Payable copper produced (000s lbs) | 8,657 | 12,892 | (33%) | ||||
| Cash cost per pound of payable copper ($/lbs)(1)(2) | 2.35 | 2.07 | 14% | ||||
The financial statements and MD&A are available on SEDAR+ and have also been posted on the company's website at http://www.aticomining.com/s/FinancialStatements.asp
El Roble Updates for 2025
On March 7, 2025, the arbitration tribunal at the Center for Arbitration and Conciliation of the Bogota Chamber of Commerce ruled in favor of the NMA, requiring the Company to back pay copper royalties since 1994. On April 9, 2025, the tribunal clarified that the payment of the Award be made within the timeframe outlined in the Payment Plan, and as a result, on May 12, 2025, the Company and the NMA adjusted the Payment Plan accordingly to account for the Award and for previous payments made by the Company under the Payment Plan, indexed for inflation and interest. As at December 31, 2025, the outstanding balance owed by the Company to the NMA pursuant to the Payment Plan is $9.8 million plus interest accrued of $0.1 million (COP$37 billion), payable in 2 biannual installments in May and November 2026. Subsequent to year-end, on February 4, 2026, the Company and the NMA amended the payment plan, where $4.9 million of the $9.8 million is now due in 2027 in two equal biannual installments in May and November 2027. During the year ended December 31, 2025, the Company paid $5.1 million plus interest of $0.5 million (COP$21 billion) pursuant to the Payment plan.
On May 23, 2025, the Company and the NMA executed a new 30-year mining agreement and related title for the El Roble mine. Additionally, the metal concentrate inventory previously pledged as security in favor of the NMA was released from the pledge and sold by the Company in June 2025.
La Plata Updates for 2025
On September 3, 2025, the Company announced that MAATE successfully concluded the Community Participation Process for Environmental Consultation, and on February 9, 2026, the Company announced that the Ministry of Environment and Energy of Ecuador (formerly known as MAATE) granted the Company the Environmental License for the exploration of its La Plata project in Ecuador. This license was officially published on the Ecuadorian Official Registry on February 5, 2026.
On June 19, 2025, the Company, through its wholly owned subsidiaries Toachi and CMLP, entered into an Investment Protection Agreement with the Ecuadorian State in respect of the La Plata mining project. The agreement provides legal and tax stability for the Company’s planned investment up to $158 million, while the Company commits to regulatory compliance and prioritizing local employment and resources during the construction and operation of the project.
Qualified Person
Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing it’s high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTC: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation statements regarding improving cost efficiencies at El Roble, taking advantage of the favorable metal price environment, and possible outcomes of any pending arbitration, consultation, litigation, negotiation or regulatory investigation, and the timing and amount of the future construction of the La Plata project, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The assumptions upon which the forward-looking statements herein are based, include, but are not limited to, that all required third party contractual, regulatory and governmental approvals will be obtained for the development, construction and production of its properties, there being no significant disruptions affecting operation, permitting, development, expansion and power supply proceeding on a basis consistent with the Company’s current expectations, currency exchange rates being approximately consistent with current levels, certain price assumptions for copper, gold and silver, prices for and availability of fuel oil, electricity, parts and equipment and other key supplies remaining consistent with current levels, production forecasts meeting expectations, the accuracy of the Company’s current mineral resource and reserves estimates, labor and materials costs increasing on a basis consistent with the Company’s current expectations, assumptions made and judgments used in engineering and geological interpretation, that additional financing sources will be available on reasonable commercial terms in order for the Company to make scheduled repayments of principal, interest, and any applicable premiums on its outstanding indebtedness. Important risk factors that could cause actual results to differ materially from the Company’s expectations include risks associated with the Company’s outstanding debt, including the Company’s ability to successfully secure additional funds through debt or equity issuances to meet these obligations, or successfully negotiate to amend or extend their terms uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs of the Company’s projects; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the Company's Management's Discussion and Analysis for the year ended December 31, 2025 and in the Company’s Annual Information Form (“AIF”) dated September 4, 2024, filed with the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.com and as available on the Company's website for further details.
Except as required by law, the Company does not assume the obligation to revise or update these forward-looking statements after the date of this announcement or to revise them to reflect the occurrence of future unanticipated events.
Non-GAAP Financial Measures
The items marked with a "(1)" are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company's Management's Discussion and Analysis for the year ended December 31, 2025, as filed on SEDAR+ and as available on the Company's website for further details.
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