Candelaria Mining Corp. Announces Marketing Initiatives

Corporate Presentation - October 2021

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Adelaide Capital Markets Inc.

The Company has engaged Adelaide Capital Markets Inc. ("Adelaide"), an Ontario-based corporation, to provide digital marketing services to the Company. The term of this agreement shall be for six months. The Company has agreed to pay Adelaide a total of $24,000 in six equal instalments of $4,000 payable on the 1^st day of each calendar month and has also granted 75,000 stock options (with an exercise price of $0.65 and expiry date two years from date of grant, with 20% vested on date of grant and 20% to be vested every three months beginning February 1, 2022) to Adelaide.

Adelaide was founded by Deborah Honig and is an arm's length company based in Toronto, Ontario. Adelaide is a full-service investor relations firm. As of the date hereof, Adelaide does not have any interest, directly or indirectly, in the Company or its securities, or any right to acquire such an interest.

Investor News Network

The Company also engaged Investing News Network ("INN"), a British Columbia corporation, to generate investor leads and provide general marketing services to the Company. The term of this agreement shall be for twelve months. The Company has agreed to pay INN a total of $58,000 in four equal instalments of $14,500 payable on the 13^st day after each calendar quarter.

INN is principally owned by Dig Media Inc. and is an arm's length company based in Vancouver, BC. INN is an investor lead generating and branding firm. As of the date hereof, INN does not have any interest, directly or indirectly, in the Company or its securities, or any right to acquire such an interest.

The engagements noted above are subject to acceptance by the TSX Venture Exchange.

Mr. Jason Frame, Investor Relations Consultant

Jason Frame has several years of capital markets experience in a variety of capacities. Mr. Frame has been an investment advisor for a Canadian investment dealer, and has been a director of a Canadian mining exploration company listed on the TSXV. Currently, Mr. Frame acts as a consultant to a variety of other Canadian issuers. Jason holds a B.A. from the University of Montana.

Mr. Frame will provide general investor relations services and assists in various digital marketing initiatives as well. The term of this agreement is month to month and the Company has agreed to pay Mr. Frame $10,000 on the last day of each calendar month. As of the date hereof, Mr. Frame does not have any interest, directly or indirectly, in the Company or its securities, or any right to acquire such an interest.

ON BEHALF OF THE BOARD
Mike Struthers
CEO
+1 604 349 5992

For further information, please contact:

Candelaria Mining Corp.
Investor Relations
+1 604 349 5992 | info@candelariamining.com

Cautionary Note Regarding Forward-looking Statements: This press release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities laws. Forward-looking statements and forward-looking information include, but are not limited to, the compensation to be paid and services to be provided by Adelaide. Forward-looking statements are based on the opinions and estimates as at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include changes in market conditions or metals prices, unanticipated developments on the Company's properties, and other risks described in the Company's public disclosure documents available under the Company's profile at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.