Bocana Resources Corp. Project Update for the Diamond Drilling of the Escala Project in Bolivia

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CALGARY, Alberta, June 30, 2023 (GLOBE NEWSWIRE) — Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1) (“Bocana” or the “Company“) is pleased to provide an update on the diamond drilling project for its Escala Project in Bolivia.

After the contract was signed with Leduc Drilling S.R.L., (“LeDuc”) for the first phase (“Phase I“) of the diamond drilling campaign, the Company’s geological team was deployed shortly thereafter to the site and began identifying the initial nine drill hole locations. Subsequently, Corporación Minera de Bolivia (“Comibol”), indicated their desire to mobilize an onsite representative to provide liaison support and coordinate resources with the local area communities, the Company and Comibol before the drilling was to begin. However, Comibol’s delay in deploying this liaison has postponed the commencement of the drilling portion of the Company’s Phase I drilling campaign. As a result, it is now estimated that the drilling will commence as soon as Comibol deploys their site representative to the Escala area, which we anticipate will take place in the next several weeks and LeDuc will be mobilized immediately thereafter.

With a projected completion time of 4-5 weeks after the commencement of the drilling program, the cores will be sent to a regional laboratory for analysis and the Company will disseminate the assay results as they are received.

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About Bocana Resources Corp.

Bocana is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in South America. Bocana, through its wholly owned subsidiary, Huiracocha International Service SRL, holds a 100% working interest in the mineral properties known as the Escala area concessions located at the Department of Potosi, Sud Lipez Province, Bolivia as awarded by Comibol.

Contact Information

For more information on Bocana, visit: https://bocanaresources.com.

For more information or interview requests, please contact:

Timothy J. Turner – Chief Executive Officer
[email protected]

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: “intend”, “believe”, “estimate”, “expect”, “may”, “will”, “approximately”, “planning”, “projected”, “anticipate” and similar references to future periods. Although Bocana believes that, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Bocana can give no assurance that they will prove to be correct. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bocana, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate purchased properties or mining rights awarded; foreign operations risks; and other risks inherent in the mining industry. Although Bocana has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned to not place undue reliance on forward-looking information. Additional risks include those disclosed in the Information Circular, which are incorporate herein by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

This news release is not an offer of the securities for sale in the United States. The securities described in this news release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in which where such offer, solicitation or sale would be unlawful.

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 news release.

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