Cleansing Notice and Appendix 2A

18 January 2021

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

Cleansing Notice and Appendix 2A

Castillo Copper Limited (LSE and ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, advises that a cleansing notice and Appendix 2A (Application for quotation of securities) has today been filed with the Australian Securities Exchange ("ASX") and is available on the Company's website: https://www.castillocopper.com/asx-announcements/ 

The Company has today issued 1,800,000 fully paid ordinary shares ("New Shares") upon exercise of unlisted options at an exercise price of $0.05 per option converting to 1 fully paid ordinary share. Application has been made to the ASX for the New Shares to be admitted to trading and admission is expected on or around 18 January 2021.

Following the admission of the New Shares, the Company's total issued share capital will consist of 1,015,926,222 Ordinary Shares. The above figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

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:

·    The Mt Oxide project 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.

Castillo Copper is listed on the LSE and ASX under the ticker "CCZ." For further information, visit the Company's website: www.castillocopper.com