Cleansing Prospectus

2 August 2021

CASTILLO COPPER LIMITED("Castillo" or the "Company")

Cleansing Prospectus

Castillo Copper Limited (LSE and ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, advises that is has today lodged a cleansing prospectus ("Prospectus") with the Australian Securities and Investments Commission. The Prospectus has been prepared primarily for the purpose of Section 708A(11) of the Corporations Act to remove any trading restrictions on the sale of Equity Securities issued by the Company prior to the Closing Date, as set out in the Prospectus.

A copy of the Prospectus is available on the Company's website: https://castillocopper.com/investors/announcements/

For further information, please contact:

About Castillo Copper

Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by its core projects:

· A large footprint in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper-rich region.

· Four high-quality prospective assets across Zambia's copper-belt which is the second largest copper producer in Africa.

· A large tenure footprint proximal to Broken Hill's world-class deposit that is prospective for zinc-silver-lead-copper-gold.

· Cangai Copper Mine in northern New South Wales, which is one of Australia's highest grading historic copper mines.

Castillo Copper is listed on the LSE and ASX under the ticker "CCZ." For further information, visit the Company's website: www.castillocopper.com