Anacortes Mining Corrects News Release Announcing Successful Business Combination of First Light and New Oroperu

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2021) - Anacortes Mining Corp. (TSXV: XYZ.P) ("Anacortes" or the "Company"), formerly First Light Capital Corp. ("First Light"), and New Oroperu Resources Inc. ("New Oroperu") (TSXV: ORO) announce a correction to the news release issued on October 7, 2021, entitled "Anacortes Mining Formed Following Successful Business Combination of First Light and New Oroperu".

The original news release stated that the Company issued 20,074,716 shares in exchange for the issued and outstanding shares of New Oroperu, but should have read 27,074,716 shares.

All other details of the news release dated October 7, 2021 remain in effect.

About Anacortes

Anacortes is a new growth-oriented gold company in the Americas, which owns a 100% interest in the Tres Cruces gold project located in Peru. Tres Cruces is one of the highest-grade oxide deposits globally and hosts oxide plus sulphide Indicated resources of 2.474 Mozs at 1.65 g/t gold and Inferred resources of 104 kozs at 1.26 g/t gold, inclusive of 630 kozs of high-grade leachable gold at 1.28 g/t gold. Anacortes is well-capitalized and intends to aggressively advance Tres Cruces through feasibility and to production under a heap leach open pit scenario. Additionally, Anacortes will continue to seek further growth opportunities in the Americas, with the goal of creating the next mid-tier multi-asset gold producer.

For further information, please contact Jim Currie, President and Chief Executive Officer of Anacortes, at (604) 764-7108.

This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including the United States of America. The securities being offered as part of the Private Placement 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 accordingly may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not For Dissemination in the United States or For Distribution to U.S. Newswire Services. This Press Release Does Not Constitute an Offer to U.S. Persons.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99125