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Mr. Sokhie Puar reports

CANDELARIA MINING ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

The TSX Venture Exchange has approved a share consolidation of the outstanding share capital of Candelaria Mining Corp. on the basis of one new postconsolidated common share for three preconsolidation common shares. The consolidation will be effective at the open of the market on Monday, Nov. 21, 2016. The company's name and trading symbol will remain unchanged.

As a result of the consolidation, the company's currently issued and outstanding 243,954,415 common shares will be reduced to 81,318,116 common shares after rounding adjustments. No fractional common shares will be issued as a result of the consolidation. All fractional common shares resulting from the consolidation will be rounded down to the nearest whole number of common shares. The company's outstanding incentive stock options and warrants will be adjusted on the same basis (1:3) to reflect the consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices.

Registered shareholders will receive a letter of transmittal from the company's transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing preconsolidation common shares for new share certificates or direct registration advice (DRS) representing postconsolidation common shares to which they are entitled as a result of the consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the consolidation.