Atacama Pacific Completes Phase IV Exploration Campaign On The Cerro Maricunga Oxide Gold Project, Chile

TORONTO, ONTARIO--(Marketwired - June 18, 2013) -

Editors Note: There is a figure associated with this press release.

Atacama Pacific Gold Corporation (TSX VENTURE:ATM) ("Atacama Pacific") is pleased to report the final results from its 27,000-metre Phase IV drill program on the Cerro Maricunga oxide gold project. Highlights from the final set of drill results include:

• 78 metres grading 0.80 grams per tonne gold ("g/t Au") including 1.17 g/t Au over 22 metres from drill hole CMR-296;
  
  
• 110 metres grading 0.57 g/t Au with 38 metres of 1.09 g/t Au in drill hole CMD-298; and,
  
  
• 184 metres grading 0.43 g/t Au from drill hole CMR-322.
  
  

Atacama Pacific's Cerro Maricunga project is located in Chile's Maricunga Mineral Belt approximately 120 kilometres from the city of Copiapo. Table 1 provides a summary of the current results and Figure 1 presents the location of the drill holes.

"The results from the Phase IV infill drilling campaign have confirmed that the Cerro Maricunga property hosts one of the largest oxide gold deposits recently discovered," stated Carl Hansen, President and CEO of Atacama Pacific. "The goal of the Phase IV campaign was to convert existing inferred resources to the measure and indicated category and we are looking forward to providing an updated resource estimate during the third quarter of 2013. With the completion of this program, Atacama Pacific has drilled over 100,000 metres at Cerro Maricunga project over a period of three years. It is anticipated that, going forward, only minor drilling for infill and geotechnical purposes will be required."

Drilling on section 950 NW successfully outlined further gold mineralization in the area between the Crux and Phoenix zones previously interpreted as unmineralized. Three drill holes, CMR-308, CMR-323 and CMR 325, returned significant intervals of +0.2 g/t Au mineralization (see table 1), including 140 metres grading 0.32 g/t Au, following up on mineralization discovered in holes CMR-241 (44 m grading 0.47 g/t Au) and CMR-239 (62 m grading 0.33 g/t Au) drilled on section 900 NW.

Water Exploration Joint Venture

Atacama Pacific recently entered into a 50:50 joint venture agreement with Exeter Resources Corporation to explore for aquifer water within three concessions located approximately seventy kilometres east of Atacama Pacific's Cerro Maricunga deposit. Each company will own a 50% interest in each water tenement and will incur 50% of the costs associated with exploration. Two of the concessions have recently been granted while approval for the third concession is pending. It is anticipated that exploration work will begin during the fourth quarter of 2013.

Table 1 - Summary of Cerro Maricunga Drill Results (≥10 m intervals composited at a 0.2 g/t cut-off)
Hole #	Section	From	To	Interval	Grade	Zone		Notes
		(metres)	(metres)	(metres)	(g/t Au)
CMD-281	550	22	60	38	0.77	Crux
		110	140	30	1.12
CMD-282	2450	0	18	18	0.28	Lynx
		48	90	42	0.69
		124	142	18	0.28
		168	180	12	0.36
		244	270	26	0.57
CMD-284B	1950	70	84	14	0.33	Lynx		Infill between Lynx & Phoenix zones
		104	134	30	0.34
		232	258	26	0.29
CMD-287	2000	0	60	60	0.65	Lynx		Infill
		92	150	58	0.62
		170	200	30	0.28
CMC-293	1450	366	378	12	0.22	Phoenix		Extends mineralization to bottom of
		384	394	10	0.32			proposed pit
		412	450	38	0.45
CMR-296	2250	124	202	78	0.80	Lynx		Infill
including		144	166	22	1.17
		234	256	22	0.23
		264	274	10	0.36
CMR-297	550	6	16	10	0.26	Crux		Infill, expanded mineralization along
		34	46	12	0.26			the SW contact. Also cut by CMR-322
		66	220	154	0.46
CMD-298	1650	6	18	12	0.34	Phoenix		Depth extension to base of proposed
		72	104	32	0.34			pit
		274	384	110	0.57
including		334	372	38	1.09
		408	456	48	0.29
CMR-300	1000	0	48	48	0.23	Pollux		Extension of Pollux to Phoenix
		82	128	46	0.40
CMR-301	1100	20	58	38	0.33	Phoenix		SE Extension of Phoenix
		104	130	26	0.22
CMR-302	1800	76	124	48	0.38	Phoenix
CMR-304	2000	170	200	30	0.37	Lynx
CMR-306	1750	0	14	14	0.54	Phoenix
		34	48	14	0.23
		156	188	32	0.54
		230	298	68	0.35
CMR-308	950	68	118	50	0.36	Pollux		SE extension Phoenix (new)
CMR-309	800	4	54	50	0.43	Crux
		176	224	48	0.41
		258	300	42	0.54
CMR-310	650	4	32	28	0.36	Crux
		48	60	12	0.29
		68	78	10	0.27
CMR-311	850	66	76	10	0.25	Crux		SW contact
		96	154	58	0.28
CMR-312	800	108	150	42	0.36	Crux
CMR-322	550	76	90	14	0.45	Crux
		128	312	184	0.43			0.18 g/t cut-off
CMR-323	950	22	82	60	0.27	Phoenix		SE extension Phoenix (new)
		154	204	50	0.23
CMR-325	950	0	140	140	0.32	Phoenix		SE extension of Phoenix (new)
		166	178	12	0.55
NOTES: Unless otherwise noted, reported gold grades are composited at a 0.2 g/t Au cut-off. All intervals represent down-hole lengths and not true widths. Drill holes prefixed "CMD" are diamond drill holes; holes prefixed "CMR" are RC drill holes. Hole CMC-293, was drilled by both RC and diamond methods.

Santa Teresa Drilling

Atacama Pacific completed three reverse circulation drill holes (1,450 m) targeting a strong chargeability anomaly identified on the Santa Teresa property located adjacent to the northern border of the Cerro Maricunga property. The results from the drilling were not economically significant and, as such, Atacama Pacific has terminated the Santa Teresa option.

National Instrument 43-101

Michael Easdon, a professional geologist registered with the American Institute of Professional Geologists, is the independent qualified person for the current exploration program and has reviewed, approved and verified the content of this press release. Carlos Guzmán, a mining engineer, Fellow of the Australasian Institute of Mining and Metallurgy and a registered member of the Chilean Mining Commission, is the independent qualified person as defined by National Instrument 43-101 for the January 28, 2013 Preliminary Economic Assessment for the Cerro Maricunga project. Mr. Guzmán is a Principal and Project Director with NCL Ingeneiría y Construcción Ltda., Santiago, Chile.

Visit Atacama Pacific's website at www.atacamapacific.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to the success of exploration activities generally, mine development prospects, and potential future gold production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the results of due diligence activities, changes in economic parameters and assumptions, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of further economic and technical studies, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in Atacama Pacific's publicly filed documents.

Although Atacama Pacific has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

To view the figure associated with this press release, please visit the following link: http://www.marketwire.com/library/20130618-ATMfigLG.png.