Bocana Resources Corp. Completes Approximately 500 metres of Diamond Drill Testing at the Escala Project in Bolivia

CALGARY, Sept. 28, 2023 - Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1) ("Bocana" or the "Company") is pleased to announce the completion of the first two of nine proposed diamond drill holes on the Escala area concession in south-west Bolivia. The Company's inaugural drilling of both NQ and HQ size cores is expected to take another three weeks to complete the proposed 2,000 metre program.

Lithologies Observed

The two completed holes tested the southern flank of a large, induced polarization chargeability anomaly that is interpolated to be related to a mineralized near surface porphyry system called Cerro Galapagos. Hydrothermal and intrusion breccias hosted within a dacitic porphyry have been observed. Fracture controlled sulphides, mainly pyrite and minor arsenopyrites as well as magnetite, have also been noted.

Core Sampling Protocols

All drill core samples will be collected under the supervision of Company employees. Drill cores are transported from the drill platform to the camp's logging facility where it will be geotechnically and geologically logged, photographed, and split by diamond saw prior to being sampled. Samples will then be bagged, sealed, and numbered in order to maintain a chain of custody. Company employees will also insert blank, duplicate and a certified standard sample in each batch of twenty samples prior to transportation from the Escala area camp to the ALS Bolivia Ltda. ("ALS") laboratory site in Oruro, Bolivia. ALS will provide Bocana with sample preparation and analysis services at its ISO/IEC 17025 accredited facilities. The ALS unit in Oruro is ISO 9001:2008 and ISO 17025:2005 accredited and ALS has the only laboratory in South America that has a high number of analytical methods accredited by ISO IEC 17025; the ALS laboratory also has the sample preparation stage included in this accreditation.

"We are pleased to have to have the first two cores completed. If the drilling continues at this pace, we would estimate completion of this portion of phase I to be within the next three to four weeks," commented Timothy J. Turner, Chief Executive Officer of Bocana.

Qualified Person

Mr. Lorne Warner, P.Geo., is a "Qualified Person" as defined by National Instrument 43-101. Mr. Warner has approved the scientific and technical information included in this news release for dissemination.

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
info@bocanaresources.com

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 including Phase 1; results of any sampling and any risks associated with the testing; 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 not to 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.