Resource Capital Fund VI L.P. Announces Acquisition of Units in Los Andes Copper Ltd.

DENVER, June 7, 2018 /CNW/ - Resource Capital Fund VI L.P. ("RCF") reports that on June 7, 2018, it acquired ownership and control of 18,930,000 units (the "Units") of Los Andes Copper Ltd. ("Los Andes") pursuant to the closing of the second and final tranche of a non-brokered private placement (the "Second Tranche"). RCF acquired the Units at a price of CDN$0.33 per Unit for a total purchase price of CDN$6,246,900. Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for a period of five years following the closing date of the Second Tranche at a price of CDN$0.50. As additional consideration to Los Andes for the issuance of the Units under the Second Tranche, RCF delivered to Los Andes for cancellation 18,930,000 Warrants (issued pursuant to a private placement completed on December 8, 2016) registered in the name of RCF, each such Warrant having an exercise price of CDN$0.45 per Common Share. The first tranche of the non-brokered private placement by Los Andes closed on May 7, 2018 and resulted in the issuance by Los Andes of 7,870,000 Units to RCF, all as further described in RCF's press release dated May 7, 2018.

Prior to the closing of the Second Tranche, RCF owned or controlled (i) 7,870,000 Common Shares, representing 3.11% of the issued and outstanding Common Shares prior to the closing of the Second Tranche, and (ii) 22,865,000 Warrants, representing 100% of the issued and outstanding Warrants prior to the closing of the Second Tranche. Assuming the exercise of all of the Warrants held by RCF prior to the closing of the Second Tranche, an aggregate of 30,735,000 Common Shares would be owned and controlled by RCF, representing approximately 11.15% of Los Andes' issued and outstanding Common Shares.

Immediately following the closing of the Second Tranche, RCF owns and controls a total of (i) 26,800,000 Common Shares, representing approximately 9.87% of Los Andes' issued and outstanding Common Shares, and (ii) 13,400,000 Warrants, representing 100% of the issued and outstanding Warrants of Los Andes. Assuming the exercise of all of the Warrants held by RCF, an aggregate of 40,200,000 Common Shares would be owned and controlled by RCF, representing approximately 14.10% of Los Andes' issued and outstanding Common Shares.

RCF acquired the Units for investment purposes. RCF may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Los Andes.

Los Andes' head office is located at Suite 1260, 355 Burrard Street, Vancouver, British Columbia, V6C 2G8.

To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Los Andes' profile on the SEDAR website www.sedar.com.

About Resource Capital Fund VI L.P.

RCF is a private investment fund existing under the laws of the Cayman Islands.

SOURCE Resource Capital Fund VI L.P.

and to obtain a copy of the early warning report, please contact: Resource Capital Fund VI L.P., 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: [phone], Attn: Molly Campbell