Atico Provides Financing Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2013) -

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Atico Mining Corporation (TSX VENTURE:ATY)(PINKSHEETS:ATCMF) ("Atico" or the "Company") is pleased to announce that further to its news release dated August 15, 2013, it has increased the size of its brokered private placement (the "Brokered Offering") and its non-brokered private placement (the "Non-brokered Offering", and together with the Brokered Offering, the "Offering") and has changed the structure of its previously announced Debt Financing and Convertible Debenture Financing, each as described below.

Offering

The Company now intends to issue up to an aggregate of 24,600,000 units at a price of C$0.45 per unit (the "Brokered Units") for gross proceeds of C$11,070,000 under the Brokered Offering. The Company is also pleased to announce that the agents under the Brokered Offering have exercised their option for the issuance of an additional 6,700,000 Brokered Units for additional gross proceeds of C$3,015,000.

The Company further intends to issue up to an aggregate of 11,869,744 units at a price of C$0.45 per unit (the "Non-brokered Units") for gross proceeds of approximately C$5,341,385 under the Non-brokered Offering.

Each Brokered Unit and Non-Brokered Unit will consist of one common share of the Company (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one Common Share for a period of 24 months from closing at an exercise price of C$0.65.

Debt Financing

The Company is pleased to announce that it has finalized its agreement with Trafigura Pte. Ltd. ("Trafigura"), pending regulatory approval, with respect to a senior secured repayable debt facility (the "Debt Financing"), and that the principal amount of the Debt Financing has been increased from the previously announced US$6,000,000 to US$8,000,000. The material terms of the Debt Financing otherwise remain the same as those which were previously announced by the Company. The Debt Financing will have a repayment term of 48 months, with annual carried interest of LIBOR plus 9% payable quarterly, subject to a 12 month grace period (with the first repayment date being 15 months from the date of the first advance).

In connection with the increase in size of the Debt Financing, the Company will no longer issue to Trafigura US$2,000,000 in convertible debentures as previously announced (the "Convertible Debenture Financing").

General

The proceeds raised under the Offering and the Debt Financing will be used for the exercise of the El Roble property option, capital expenditure, exploration and for general working capital purposes.

All securities issued pursuant to the Offering will be subject to a four month hold period.

The Company is working towards closing the Offering and the Debt Financing as soon as possible pending receipt of all regulatory approvals.

About Atico Mining Corporation

Atico is a growth oriented, copper and gold exploration and development company focused on mining opportunities in Latin America. The company's primary property is the El Roble project. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.aticomining.com.

ON BEHALF OF THE BOARD

Fernando E. Ganoza, CEO, Atico Mining Corporation

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.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to the use of proceeds; timing of closing; receipt of final approval from the TSX Venture Exchange; completion of the Offering and the Debt Financing; and other risks and uncertainties disclosed under the heading "Risk Factors" in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.