Atico Reports 18.5 Meters of 10.3% Cu and 2.1 g/t Au at El

Atico Reports 18.5 Meters of 10.3% Cu and 2.1 g/t Au at El Roble
Mine, Colombia 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/01/12 -- Atico
Mining Corporation (TSX VENTURE:ATY) is pleased to announce that
ongoing underground drilling at the El Roble mine continues to
intersect and extend to depth high-grade massive sulfide and gold
mineralization below the 2000 meter level, the lowest production
level at the mine at 250 meters below surface. 
Atico reports the results of 11 new diamond core holes drilled,
including 5 production holes drilled by Minera El Roble, current
operator of the El Roble mine, and independently sampled and assayed
by Atico. Atico's drilling extends the known mineralization 230
meters below the 2000 meter level and along 300 meters of strike (see
figure 2 
Fernando E. Ganoza, CEO of Atico, commented, "The company is
extremely pleased with the results of the most recent underground
drilling at El Roble Project. We have significantly increased the
potential for additional high-grade resources at El Roble mine by
vertically extending the known mineralized zone, which remains open
at depth. Testing the extent of mineralization along strike and at
depth will continue, as well as defining the potential of mineralized
lenses intersected below level 2000." 
Highlights of the drilling include: 

--  ATDHR-12 18.20 meters of 10.30% Cu, 2.10 g/t Au and 6.59 g/t Ag 
--  MEI-193(i) 6.48 meters of 4.90% Cu, 4.57 g/t Au and 34.78 g/t Ag 
--  MEI-192 4.22 meters of 1.15% Cu, 8.14 g/t Au and 38.60 g/t Ag 
--  ATDHR-13 0.50 meters of 2.40% Cu, 14.15 g/t Au and 143.00 g/t Ag

(i) MEI indicates diamond drill holes by Minera El Roble, current
operator of the El Roble mine 
Underground Drilling Program: 
The ongoing underground drill program aims to add additional
resources of high-grade copper-gold massive sulfide bodies lateral to
and below the existing mine workings. Atico's first four drill holes
of this program (see news release dated July 12, 2012) proved the
existence of mineralization 100 meters below the 2000 meter level.
The results of the latest drill holes indicate that massive sulfide
mineralization extends at least 230 meters below level 2000, where
ATDHR-13 intersected
 0.50 meters of 2.4% copper and 14.50 g/t gold
(see figure 3
Intercepts higher in the hole extend the mineralization from ATHDR-01
and ATHDR-04 by 150 meters to the southeast (see news release dated
July 12, 2012). 
Assays of the footwall and hanging wall to the massive sulfide
mineralization in previously reported drill holes along with ATDHR-12
and ATDHR-13 show that gold mineralization extends several meters
above and below the mineralization into the host 'black chert' unit.
ATDHR-05 (see news release dated September 24, 2012) intersected
16.60 meters of 1.75 g/t gold from 62.40 meters and ATDHR-13 reported
7.25 meters of 2.19 g/t gold from 58.15 meters. 
Current drill intercepts confirm the presence of massive "mound'
sulfides, feeder vein stockworks and multi-phase massive sulfide
breccias. The geometry and zoning of the existing mineralization
coupled with the new intercepts imply that only half of the massive
sulfide mineralization, some 1.5 million tonnes, have been found and
mined to date. This is consistent with the indication from recent
drilling of the potential for significant additional tonnage below
the current mine workings. 
Minera El Roble drilled 12 short exploratory holes ahead of
production from the 2000 meter level. The latest holes, which have
variable azimuths and declinations and recoveries particularly in
broken ground, are listed in the table below. Recoveries in massive
sulfide sections vary from 50 to 60%. Minera El Roble holes, sampled
and assayed by Atico, intersected massive sulfide mineralization
grading from 6.37% copper over 1.00 meter in MEI-198 to 6.48 meters
of 4.90% copper in MEI 193, indicating continuity of mineralization
from the 2000 meter level to those drilled by Atico. 
All reported drill intercepts represent down-hole intercepts and not
true widths. Owing to the pod-like nature of the massive sulfide
mineralization no true width estimates of the mineralization can be
Underground Drilling Assay Results: 

                                Total               Inter-                  
             Azimuth       Dip  Depth   From     To    val    Cu    Au    Ag
Hole ID    (degrees) (degrees)    (m)    (m)    (m)    (m)   (%) (g/t) (g/t)
 10(i)            45       -50 105.05   38.6   40.5   1.94  0.14  1.94  6.95
ATDHR-12         355       -59 184.20  113.9  132.1  18.15 10.30  2.10  6.59
Including                              113.9  118.0   4.10 11.06  6.46 17.57
                                       120.0  122.0   2.00 15.91  0.78  3.23
                                       122.0  126.0   4.00 17.45  1.06  3.94
 13(ii)           90       -75 335.95   58.2   65.4   7.25  0.95  2.20 11.12
                                        70.6   74.1   3.50  1.60  0.26  7.25
                                       234.7  235.2   0.50  2.40 14.15143.00
MEI-192           45       -53  70.10   28.1   32.3   4.22  1.15  8.14 38.60
Including                               30.2   32.3   2.11  0.39 14.45 54.90
MEI-193           55       -60  48.03   28.0   34.4   6.48  4.90  4.57 34.78
Including                               28.0   31.0   3.08  6.52  9.12 58.60
MEI-195           35       -60  37.94   30.5   35.7   5.24  0.98  2.69  5.78
Including                               30.5   33.4   2.90  0.37  4.55  8.95
MEI-197           15       -60  55.64   38.4   42.9   4.50  0.90  0.93  4.22
MEI-198            5       -60  54.49   39.3   40.9   1.60  6.37  2.10  8.43
Including                               39.3   40.0   0.70 12.95  3.52 14.75
--  Drill Holes ATDHR-8, ATDHR-9 and ATDHR-11 did not report any significant
--  ((i)) Mineralization in 'black chert' unit 
--  ((ii)) Mineralization in 'black chert' unit in footwall to massive

El Roble Property: 
El Roble property hosts an operating underground copper and gold mine
with nominal capacity of 400 tonnes per day. Over the past 22 years
the mine has processed 1.5 million tonnes of mineralized material at
an average grade of 2.5% copper and estimated gold grade of 2.5 g/t.
Copper and gold mineralization at El Roble property occurs as
volcanogenic massive sulfide ("VMS") lenses. Exploration over the
past two years has defined a productive contact and an enclosing
package of host rocks extending for a distance of 10 kilometers
across the property. This entire strike length is marked by VMS
mineralization occurrence indicators.  
Atico has a two-year option agreement to acquire 90% of Minera El
Roble, current operator of El Roble mine, for staged payments of
US$2.25 million over two years (all staged payments have been made as
of July 28, 2012) and a lump-sum payment of US$14 million upon
exercise of the option. The option can be exercised at any time
during the two-year option period upon payment of the US$14 million.
Atico has the right to extend the option period by one year, by
giving notice to Minera El Roble 21 days prior to the expiration of
the initial option term (January 28th 2013) and paying an additional
US$1.2 million. 
Quality Assurance & Quality Control: 
Following detailed geological and geotechnical logging, drill core
samples are split on-site with a diamond saw by Atico personnel. The
7 to 10 kilograms per meter of sample are submitted to the ALS Chemex
Laboratory in Medellin where they are dried, crushed and pulverized.
After preparation the samples are sent to ALS Chemex in Lima and
assayed. The remaining half core is retained on-site for verification
and reference purposes. All gold assays were obtained by standard 50
gram fire assay with AA finish. All copper and silver assays reported
were obtained by aqua-regia sample dissolution of the sample followed
by ICP analysis. The QA-QC program includes the blind insertion of
certified reference standards as well as assay blanks and duplicates
at a frequency of approximately 1 per 15 samples.  
Qualified Person: 
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, a qualified
person under NI 43-101 standards, and independent of the company is
responsible for ensuring that the information contained in this news
release is an accurate summary of the original reports and data
provided to or developed by Atico Mining Corporation.  
Atico Mining Corporation: 
Atico is a growth oriented, copper and gold exploration and
development company focused on mining opportunities in Latin America.
The company's primary property is the El Roble project. The company
is selectively pursuing additional acquisition opportunities. For
more information, please visit our website at  
Fernando E. Ganoza, CEO 
Atico Mining Corporation 
Symbol: TSX.V: ATY 
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, without limitation the use of net proceeds, 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.
Important factors that could cause actual results to differ
materially from the Company's expectations include uncertainties
relating to interpretation of drill results and the geology,
continuity and grade of mineral deposits; uncertainty of estimates of
capital and operating costs; 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
prospectus of the Company dated March 2, 2012 filed with the Canadian
securities regulatory authorities on the SEDAR website at 
To view the Figures accompanying this press release, click on the
following link: 
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. 
Atico Mining Corporation
Kim Casswell
Corporate Secretary
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