CANDELARIA PROVIDES AN UPDATE ON LENDER, ACCENDO BANCO

Vancouver, B.C., October 7, 2021, Candelaria Mining Corp. (TSX-V: CAND, OTC PINK: CDELF) (the “Company”) has provided insight with respect to the status of one of its lenders, Accendo Banco S.A. (“Accendo”). The Company has learned that the Mexican National Banking and Securities Commission notified Accendo of the revocation of its authorization to organize and operate as a multiple banking institution due to Accendo falling below the regulatory minimum levels of liquidity coverage ratio of the institution.

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