CORPORATE PRESENTATION

NOVEMBER 2017

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 CAUTIONARY NOTES AND QP

Certain statements in this presentation constitute forward-looking statements and as such are based on an
assumed set of economic conditions and courses of action. These include estimates of future production levels,
expectations regarding mine production costs, expected trends in mineral prices and statements that describe
Atico Mining Corporation’s future plans, objectives or goals. There is a significant risk that actual results will vary,
perhaps materially, from results projected depending on such factors as changes in general economic conditions
and financial markets, changes in prices for silver and other metals, technological and operational hazards in
Atico’s mining and mine development activities, risks inherent in mineral exploration, uncertainties inherent in the
estimation of mineral reserves, mineral resources, and metal recoveries, the timing and availability of financing,
governmental and other approvals, political unrest or instability in countries where Atico is active, labour relations
and other risk factors.
The Company has not based its production decisions and ongoing mine production on mineral reserve estimates,
preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty
and risk of failure. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Dr. Demetrius Pohl, PhD, is the Qualified Person for Atico, as defined by National Instrument 43-101. Dr. Pohl was
also responsible for ensuring that the information contained in this presentation is an accurate summary of the
original reports provided to Atico and has approved the scientific and technical content of this presentation.
NON-GAAP FINANCIAL MEASURES
Cash cost per pound of payable copper produced and cash cost per tonne of processed ore are key performance
measures that management uses to monitor performance. In addition, cash costs are an industry standard method
of comparing certain costs on a per unit basis; however, these do not have a standardized meaning and may differ
from methods used by other companies with similar descriptions. Management believes that certain investors use
these non-GAAP financial measures to evaluate the Company’s performance. These performance measures have
no meaning under IFRS and, therefore, amounts presented may not be comparable to similar data presented by
other mining companies.

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 AT I C O M I N I N G C O R P O R AT I O N
Company snapshot

▪ ~18% founding group

SHARE
▪ ~49% institutional shareholders
STRUCTURE
▪ ~33% retail shareholders

▪ Successful track record creating

MANAGEMENT shareholder value
& DIRECTORS ▪ Industry expertise and extensive
regional network in Latin America

▪ Build a leading mid-tier Cu-Au producer

STRATEGY through organic growth and acquisitions,
focused on high margin operations in Latin America

▪ 90% Ownership of producing mine and surrounding claims

EL ROBLE MINE, ▪ El Roble has mined high grade Cu-Au material for over 30 years
COLOMBIA ▪ M&I resource of 1.87Mt at 3.46% Copper, 2.27g/t Gold
▪ 6,679 hectare contiguous underexplored land package with 10 kilometer
favorable geological contact zone prospective for VMS mineralization

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 C A P I TA L S T R U C T U R E
Tight share structure

TSX.V ATY
Top institutional shareholders
OTC ATCMF
✓ Ingalls & Snyder
Shares outstanding 98.5 million
✓ Frontdeal
Options outstanding 7.5 million
✓ Resource Capital Funds
Fully diluted 105.9 million
✓ Gold 2000

Institutional coverage
ATY.V share price performance
✓ PI Financial
✓ Eight Capital Partners
✓ M-Partners

Institutional watchlist
✓ Echelon Wealth Partners
✓ Canaccord

2016 2017

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 MANAGEMENT
Successful track record in Latin America

Fernando E. Ganoza, B.Sc. Engineering, MBA Bill Tsang, CPA, CA

Chief Executive Officer and Director Chief Financial Officer
Fernando is a Mining Engineer with over 15 years Bill is a Chartered Professional Accountant
of management experience in Latin America with more than 10 years of financial
including key roles in the development of mines accounting and auditing experience in the
in Peru and Mexico as Project Manager and mineral exploration and mining industry.
Country Manager for Canadian based producer
Fortuna Silver Mines.

Jorge R. Ganoza, B.Sc. Engineering Igor Dutina, BA Marketing Mgmt, Economics

President and Director Corporate Development
Jorge has over 40 years experience in Latin Igor has an extensive background in financial and
American mining industry holding senior leading capital market analysis, with more than 10 years of
roles in the founding and development of private experience in the mineral exploration and mining
and public mining companies. industry.

Joseph A. Salas, B.Sc. Geological Engineering

Sr. Exploration Manager
Joseph has over 20 years experience in
exploration, mine geology, project evaluation and
development with vast expertise in gold-copper
and copper-molybdenum porphyries in Colombia
and Peru.

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 D I R E C TO R S
Successful track record in Latin America

Luis D. Ganoza, B.Sc. Engineering, MBA, M.Sc Mario Szotlender

Chairman of the Board Director
Luis holds the position of Chief Financial Officer in Mario, co-founder of Fortuna Silver Mines, is
Fortuna Silver Mines Inc. and has over 12 years also a Director of Radius Gold Inc. and
experience in the financial management of public Endeavour Silver Corp.
mining companies.
Fernando E. Ganoza, B.Sc. Engineering, MBA Chief Michael Winn
Executive Officer and Director Director
Fernando is a Mining Engineer with over 15 years of Michael has over 20 years experience in the
management experience in Latin America including resource sector, and is the President of Seabord
key roles in the development of mines in Peru and Capital Corp. which provides investment analysis
Mexico as Project Manager and Country Manager and financial services to companies operating in
for Canadian based producer Fortuna Silver Mines. the energy and mining sectors.
Jorge R. Ganoza, B.Sc. Engineering
President and Director Luis F. Sáenz
Jorge has over 40 years experience in Latin Director
American mining industry holding senior leading Mr. Sáenz is a finance executive with over 20
roles in the founding and development of private years experience in mining finance and metals
and public mining companies. Previously to joining trading with a focus on Latin America.
Atico, Mr. Ganoza held the position of VP of
Operations in Fortuna Silver Mines Inc.

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 G R O W T H S T R AT E G Y
Focused on medium-sized high grade Cu-Au assets in Latin America

▪ Evaluate medium-sized advanced

exploration opportunities in Colombia (VMS
and central Cu-Au trend), Peru (southern
copper belt) and Chile (northern copper belt)
▪ Acquire mid-size private or public small
scale producing mines with exploration
potential
▪ Focus on sustainable organic growth at
current operation

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 EL ROBLE MINE, COLOMBIA
Excellent location and mine infrastructure

El Roble Mine

▪ El Roble mine is the only Cu-Au VMS

deposit in production in Colombia
▪ 3.5 hours away from the city of Medellin via
paved 145 kilometer highway
▪ Power grid, abundant water and mine facilities on site

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 EL ROBLE MINE, COLOMBIA
In production for over 30 years
Copper Production
20,000
18,000
16,000
14,000 55%
12,000

(000s) lbs
10,000 33% 18,724
8,000
6,000 12,044
4,000 543% 9,079

2,000
0 1,412
800 tpd processing facility 2013 * 2014 2015 2016 2017 **

12,000 Gold Production

Location Carmen de Atrato, Colombia 10,000

2%
Ownership 90% 8,000
15%
Type of deposit Mafic-type Volcanic Massive Sulphide 6,000
oz 315%
9,538
10,994 11,159
Commodities Cu, Au, Ag 4,000

Processing Standard grinding, milling and flotation circuit 2,000

2,297
Operation 800 tpd underground mine 0
2013 * 2014 2015 2016 2017 **
End Product Cu (+Au,Ag) Concentrate * During the option term and up to November 22nd 2013, the
Company was not responsible for mining or for
resource development and gained no income from the mining operations
M&I Resource 1.87Mt at 3.46% Copper, 2.27g/t Gold
** The Company is basing 2017 guidance on year ended December 31, 2016 financial and production results.
Please refer to Cautionary Note on Forward Looking Statements at the beginning of this document.

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 EL ROBLE MINE, COLOMBIA
Production Summary
2013* 2014 2015 Q4 2016 2016 Q1 2017 Q2 2017 Q3 2017
Production
Copper (000s lbs) 1,412 9,079 12,044 5,146 18,724 5,046 5,154 5,099
Gold (ounces) 2,297 9,538 10,994 2,832 11,519 2,550 2,570 2,831
Mine
Tonnes mined 69,901 139,154 179,995 64,314 244,717 63,468 65,942 74,919
Mill
Tonnes processed 69,895 133,332 178,095 62,870 242,717 62,885 62,802 66,443

Tonnes processed per day 303 462 638 790 788 810 794 794

Copper grade (%) 1.07 3.37 3.26 3.92 3.71 3.89 3.94 3.68
Gold grade (g/t) 1.56 3.3 2.78 2.19 2.17 1.92 2.07 2.16
Recoveries
Copper (%) 89.6 91.4 94.1 94.7 94.2 93.5 94.4 94.3
Gold (%) 65.2 66.9 69.2 63.8 66.1 65.8 61.8 61.1
Concentrate
Copper and Gold
3,294 19,418 29,024 10,881 41,494 10,566 10,460 10,551
concentrates (dmt)

Payable copper produced

1,341 8,625 11,428 4,887 17,776 4,790 4,897 4,844
(000s lbs)
Cash Cost per pound of
N/A 0.82 1.00 1.19 1.10 1.41 1.30 TBA
payable copper produced(1)
* During the option term and up to November 22nd 2013, the Company was not responsible for mining or for resource development and gained no income from the mining operations
Note: Metal production figures are subject to adjustments based on final settlement
(1) Net of by-product credits (refer to non-GAAP Financial Measures)

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 EL ROBLE MINE, COLOMBIA
Major scale-up components completed to achieve 800tpd

ADIT TAILINGS FACILITY PROCESSING FACILITY

Entrance to new level 1880 adit New tailings facility 800 tpd processing facility

▪ Five by five, 830 meter adit ▪ First and second phase of the new ▪ Upgrades to the crushing and
tailings facility completed milling circuit including a new
▪ Direct access to the newly cone crusher and stronger ball
discovered resources ▪ Facility built to international mill motors
standards
▪ Improved underground drill access ▪ Additional flotation cells
▪ Third phase construction will
▪ Capacity beyond 800tpd commence as required by ▪ Upgrades to the thickener and
operational needs vacuum drum filter

▪ New on site lab

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 E X P L O R AT I O N P R O G R A M
Mine overview from Archie target

Tailings dam in
remediation
Administrative
offices
Mill

New 1880 adit

Core shack

El Roble Mine, Colombia

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 E L R O B L E M I N E V I C I N I T Y E X P L O R AT I O N P R O G R A M
Resource update completed

▪ High Cu-Au grades defined below the

2000 meter elevation, previous operator’s
lowest production level at the currently
producing mine

▪ Measured and indicated resource of

1.87Mt at 3.46 % Copper, 2.27g/t Gold
and 8.87 g/t Silver using a cut-off grade of Core shack
0.93 % Cu Eq

▪ Potential to further increase resource at

the El Roble mine as mineralization is
open along strike and at depth

Underground drilling

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 E L R O B L E M I N E V I C I N I T Y E X P L O R AT I O N P R O G R A M
High grade massive sulfide discovered
El Roble Long Section

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 E L R O B L E M I N E V I C I N I T Y E X P L O R AT I O N P R O G R A M
High grade mineralization continues at depth
Intercept (m)
2012-15 Body Hole ID From To Interval (m) Cu (%) Au (g/t) Ag (g/t)
Exploration Goliath ATDHR-01 109.2 151.0 41.7 6.54 1.82 7.43
Including 109.2 111.0 1.7 9.00 4.81 22.2
Highlights 121.0 123.0 2.0 6.87 10.27 11.4
125.0 141.0 16.0 7.13 1.00 3.87
143.0 145.0 2.0 14.85 0.91 15.15
ATDHR-12 113.9 132.1 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
ATDHR-20 128.0 148.4 20.40 5.25 1.28 6.16
Maximus ATDHR-04 61.0 102.0 41.0 6.49 17.57 13.26
Including 75.0 85.0 10.0 3.00 3.59 12.77
85.0 95.0 10.0 18.40 8.63 19.29
95.0 97.0 2.0 3.92 250.0 21.2
97.0 102.0 5.0 6.05 7.21 13.20
ATDHR-05 70.0 79.0 9.0 2.50 2.31 16.17
Including 75.5 77.0 1.5 3.81 9.41 145.5
77.0 78.0 1.0 10.82 1.60 0.00
ATDHR-17 71.8 160.5 88.70 5.41 2.48 10.83
Including 71.8 75.2 3.40 11.50 7.22 13.77
100.3 104.1 3.80 7.17 3.89 18.20
141.1 149.5 8.45 12.96 1.09 12.70
Zeus ATDHR-26 144.0 263.7 119.7 6.89 6.26 16.50
Including 145.8 156.3 10.43 11.68 14.14 33.83
ATD-0003 158.8 245.20 86.4 5.04 3.71 8.69
ATD-0004 155.7 225.75 70.1 6.26 1.85 7.93
Including 186.4 225.75 39.53 7.50 1.31 5.67
ATDHR-28 242.8 292.0 49.20 4.11 2.32 6.36
Including 257.4 266.5 9.12 6.69 1.71 7.07

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 E L R O B L E M I N E D I S T R I C T E X P L O R AT I O N U P S I D E
Past exploration programs focused on mine vicinity

▪ 6,679 contiguous hectare property with

limited and intermittent exploration over the
past 40 years
▪ 10,000 meters of drilling by Kennecott and
Nittetsu at the mine vicinity to define the El Roble Mine
historical resources (1982-1986) VMS with a Measured and
Indicated resource of 1.87 Mt
▪ Continuous exploration programs by Atico 3.46% Cu, 2.27 g/t Au and 8.00
g/t Ag
over the past 5 years, have defined 16
regional drill targets.

Zeus massive sulfide

Core shown from hole 26: 119m of 6.9% Cu, 6.3 g/t Au El Roble mine and surrounding claims

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 E L R O B L E M I N E D I S T R I C T E X P L O R AT I O N U P S I D E
Potential to discover additional VMS bodies
▪ Atico identified and mapped a 10 km
stratigraphic contact between basalt
flows and pelagic sediments that
control mineralization
▪ Geochemical program(1) and
geophysical surveys(2) have outlined
multiple VMS targets over the 10 km
favorable contact
▪ Only 3 of 15 district geochemical
targets have had preliminary drill
testing; Archie, San Lorenzo and
Santa Anita
▪ Atico plans to continue drilling at the
Archie target and to drill test at least
3 new targets in 2018
▪ Potential for more targets to be
discovered during district
exploration of the heavily vegetated
terrain
(1) Geochemical program corresponds to rock chip and soil sampling
(2) Geophysical surveys conducted include IP, VTEM, magnetic survey, Geological map of favorable contact within El Roble claims
gravity and down-hole EM

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 E L R O B L E M I N E D I S T R I C T E X P L O R AT I O N U P S I D E
Archie Target and El Roble Mine Area

*Historical drill holes by Atico pre-cursor company, MINER,

NI43-101 Technical Report ”El Roble Project" ”February 15,
2012"

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 INVESTMENT HIGHLIGHTS
Building a leading mid-tier Cu-Au producer

✓ Proven team of mine developers and mine operators

✓ Industry expertise and regional network
✓ Focused on developing and operating high margin mid-
sized Cu-Au deposits

✓ In production and generating cash flow at El Roble mine

✓ Upside at El Roble mine’s underexplored large land package
with multiple geochemical and geophysical VMS anomalies

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 C O N TA C T I N F O R M AT I O N
CORPORATE OFFICE
Suite 501 – 543 Granville St.
Vancouver BC V6C 1X8
T: +1.604.633.9022

INVESTOR RELATIONS
Igor Dutina
[email protected]

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 A P P E ND I X

El Roble mine analyst visit

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 E L R O B L E M I N E V I C I N I T Y E X P L O R AT I O N P R O G R A M
Resource Estimate Table
Contained Metal

Cu Eq Cutoff Tonnes CuEq Cu Au Ag Cu Lbs Au oz Ag oz

(%) (000) (%) (%) (g/t) (g/t) (000) (000) (000)

Measured Resources

0.93% 791 4.94 3.68 2.61 10.06 64,189 66 256

Indicated Resources

0.93% 1,074 4.27 3.29 2.02 8.00 78,023 70 276

Total Measured + Indicated @ 0.93% Cu Eq.

0.93% 1,865 4.55 3.46 2.27 8.87 142,212 136 532

Inferred Resources

0.93% 255 4.75 4.1 1.34 5.21 23,042 11 43

Note:
1. The mineral resource estimate update was prepared in accordance with the definitions in the Canadian National Instrument 43-101 and based on data from
230 drill holes totaling 27,945 meters completed by Atico, during 2010 and up to June 2015.
2. Mineral Resources are as defined by CIM Definition Standards on Mineral Resources and Mineral Reserves;
3. The El Roble mine currently contains no Mineral Reserves;
4. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability;
5. There are no known legal, political, environmental or other risks that could materially affect the potential development of the Mineral Resources at El
Roble;
6. El Roble Mineral Resources are estimated and reported as of June 30, 2015;
7. El Roble Mineral Resources are estimated and reported at a Cu Equivalent of 0.93% Cu, with Cu Equivalent in % using a Cu price of USD$6,172/tonne Cu
metal and USD$1,200/tr. Oz. Au and copper and gold recoveries of 93.5% and 73%, respectively;
8. Totals may not add due to rounding procedures.

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 VMS DEPOSITS
Typically occur in clusters

▪ Volcanogenic massive sulfide mineral deposits are

formed at or near the sea-floor by volcanic activity
▪ VMS deposits generally occur in clusters; rare to
find just a single deposit
▪ Over 1,000 known deposits from < 1 Mt to over 300
Mt, average size 2.87 Mt tonnes of 1.82 % Cu and
1.4 g/t Au
▪ It is possible to estimate the size and grade of
future discoveries in a district based on the known VMS Deposit
distribution of VMS deposits
▪ Colombia represents a new VMS province in South
America.

VMS deposits typically

occur in clusters

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 E L R O B L E M I N E E X P L O R AT I O N U P S I D E
Well understood geological model

▪ Mapping of main lithologies for 10 kilometers through

the El Roble property that control mineralization -
stratigraphic contact between basalt flows and pelagic
sediments
▪ Well understood occurrence of mineralization in
favorable lithology
▪ Knowledge gained from mine informs regional
exploration
▪ Structural controls still need to be better understood

Schematic Regional Concept Section

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