16 August 2021

CASTILLO COPPER LIMITED
("Castillo" or the "Company")

Appointment of Non-executive Director

Castillo Copper Limited (LSE and ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, is pleased to announce the appointment of Mr Geoff Reed as Non-executive Director of the Company with immediate effect.

Mr Reed is a qualified geologist with extensive experience working on copper-gold projects and across the Mt Isa region. With Castillo set to significantly ramp up its exploration activities, he will provide invaluable oversight of the Company's exploration programmes in north-west Queensland and Zambia, ensuring that development work progresses at a steady pace and that every opportunity is leveraged to create shareholder value.

Based in New South Wales, Mr Reed has over 25 years' experience focused on GIS and 3D technical work, mostly relating to underground / open-cut metalliferous mining and various exploration projects. During his career, Mr Reed has undertaken geological and resource management roles across several regions in Australia including Mt Isa / Century in Queensland; and Broken Hill / Cobar in New South Wales. He has also worked on numerous international projects in Europe (Finland, Ireland, Portugal, Spain, Sweden), Africa (Angola, South Africa), Asia (China, Indonesia, Mongolia) and Canada. Prior to establishing his own consultancy in 2008, Mr Reed held positions as a mine geologist with MIM/Xstrata in Mt Isa and Pasminco / Perilya in Broken Hill.

Mr Reed has a Bachelor of Applied Science (Geology) from the University of Technology (Sydney), with memberships at the Australian Institute of Geoscientists and Australasian Institute of Mining and Metallurgy. He can provide Mineral Resource Estimations for metalliferous projects as a Competent Person in accordance with the JORC Code or a Qualified Person for technical reports that meet NI-43-101 standards.

Commenting on his appointment, Mr Geoff Reed said: "With the global copper market in an upcycle, it is an excellent time to be joining Castillo's Board as exploration activities are ramping up. Having reviewed Castillo's asset portfolio, there are some prime targets at the Big One Deposit and Arya Prospect that deserve to be test drilled. Similarly, the Luanshya and Mkushi Projects in Zambia are highly prospective for copper mineralisation. This is an exciting opportunity with first rate projects that offer significant exploration potential."

Rob Scott, Chairman of Castillo Copper, stated: "The Board is delighted to secure Geoff's services, as he has an excellent pedigree and can add value immediately. As we now embark on major transformative exploration campaigns in Queensland and Zambia, it is now critical to have an experienced geologist on the Board to oversee our activities. On behalf of the Board, I welcome Geoff to the team and look forward to his input moving forward."

There is no further information to be disclosed for the purposes of Listing Rule 9.6.13.

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About Castillo Copper

Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by its core projects:

·     A large footprint in the in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper-rich region.

·     Four high-quality prospective assets across Zambia's copper-belt which is the second largest copper producer in Africa.

·     A large tenure footprint proximal to Broken Hill's world-class deposit that is prospective for zinc-silver-lead-copper-gold.

·     Cangai Copper Mine in northern New South Wales, which is one of Australia's highest grading historic copper mines.

The group is listed on the LSE and ASX under the ticker "CCZ".