First Andes Silver Ltd. — Audit Report / Information 2023

Sep 1, 2023

Suite 2200, 885 West Georgia Street Vancouver, British Columbia, V6C 3E8

ATCO MINING INC.

August 28, 2023

British Columbia Securities Commission Suite 1200, 701 West Georgia Street Vancouver, British Columbia, V7Y 1L2

Dear Sirs/Mesdames:

Re: Notice of Change of Auditors

In accordance with National Instrument 51-102, ATCO Mining Inc. (the " Corporation ") hereby gives notice that:

1. Hay & Watson LLP, Chartered Professional Accountants (" Hay & Watson ") have resigned as Auditors of the Corporation effective immediately, to facilitate the appointment of Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants (“ DMCL ”);

2. Hay & Watson has not issued any adverse, qualified opinion or denial of opinion on the annual financial statements of the Corporation for the two fiscal years preceding the date of this Notice or any similar reservation on interim financial information for any subsequent period preceding the date of this Notice;

3. The Corporation's Board of Directors have accepted Hay & Watson’s resignation as the Corporation's auditors and approved the proposal to change auditors; and

4. There have been no reportable disagreements or unresolved issues between the Corporation and Hay & Watson over any audit conducted over the two most recent fiscal years and any subsequent period preceding the date of this Notice. There has been no reportable consultations between the Corporation and the successor auditor during this period.

Respectfully,

ATCO MINING INC.

/s/ “Etienne Moshevich” Etienne Moshevich Chief Executive Officer