Santiago, Chile – December 23, 2025

Pampa Camarones announced that Chile’s Environmental Assessment Service (Servicio de Evaluación Ambiental, SEA) has granted environmental approval to the Environmental Impact Assessment (EIA) for its Ciclón Exploradora Project, a high-grade polymetallic deposit located in the Antofagasta Region. The project is considered one of Chile’s most significant polymetallic developments.

The EIA was submitted on December 29, 2023, and underwent a comprehensive, multi-agency technical review process that lasted nearly two years.

“This approval marks an important milestone for Pampa Camarones. It reflects the strength of our technical team’s work and the rigor of the environmental evaluation process, and it allows us to advance the development of a strategic project for both the Antofagasta Region and Chile’s mining sector with greater certainty.” – Rodrigo Ramírez, Pampa Camarones CEO

During the review process, three Consolidated Requests for Clarification, Rectification and/or Expansion (ICSARA) were issued, addressing environmental, social, and technical aspects of the project. The evaluation also included formal public participation processes, ensuring that community observations and concerns were fully considered.

From submission to approval, the EIA review took just under two years, placing the Ciclón Exploradora Project in the first quartile of approval timelines for mining EIAs granted in Chile over the past five years. This efficient permitting outcome reflects the extensive technical, environmental, and social work undertaken by the company, as well as significant investments made to meet regulatory requirements.

With environmental approval now in place, the project enters a clearly defined regulatory phase, allowing the company to advance sectoral permitting and target the start of construction in mid-2027.

CICLÓN EXPLORADORA OVERVIEW

The Ciclón Exploradora Project is a high-grade polymetallic deposit located in Chile’s northern Antofagasta Region. The project hosts more than 10 million tonnes of resources at an average grade of 3% copper equivalent (CuEq), estimated in accordance with NI 43-101 standards.

The mineral resource includes silver, copper, zinc, lead, and gold, positioning Ciclón Exploradora as a strategically valuable asset with the potential to contribute meaningfully to regional and national mining development. Project design incorporates environmental and operational standards consistent with Chilean regulations and international best practices, with a focus on environmental protection and early engagement with local communities.