Director Disposes of Shares of Atacama Pacific Gold Corporation

Dr. Albrecht Schneider, Executive Chairman and Director of Atacama Pacific Gold
Corporation (TSX VENTURE:ATM) ("Atacama"), announced today that on September 26,
2012, through Pacific Land First Corp. ("Pacific Land"), a British Virgins
Islands company controlled by Dr. Schneider, he disposed of beneficial ownership
of a total of 10,400,000 common shares of Atacama, representing approximately
20.4% of the 50,937,410 issued and outstanding common shares of Atacama. The
common shares were sold outside of Canada to three private companies for
consideration of C$3.40 per share. 


After giving effect to the disposition, Dr. Schneider has beneficial ownership
and control, directly and indirectly, over a total of 5,044,935 common shares
(4,136,834 registered in the name of Pacific Land; 900,000 registered in the
name of SBX Consultores Limitada; and 8,101 directly in his name) and 1,225,000
options, representing in the aggregate approximately 9.9% of the issued and
outstanding common shares of Atacama on an undiluted basis, or approximately 12%
on a partially-diluted basis. Under the terms of the dispositions, Pacific Land
was granted a call option to repurchase the 10,400,000 common shares until March
26, 2017 at an exercise price of CDN$3.40, plus LIBOR plus 2%. Since Pacific
Land maintains a call option over the 10,400,000 common shares, for purposes of
the take-over bid rules under Canadian securities laws (and despite actual
ownership residing with the purchasers), Dr. Schneider is deemed to beneficially
own an aggregate of 15,444,935 common shares of Atacama, representing
approximately 30% of the issued and outstanding shares of Atacama on an
undiluted basis, or approximately 32% on a partially-diluted basis. 


Each sale of the common shares above was in an amount in excess of $150,000 and
consequently was exempt from the prospectus requirements pursuant to section
2.10 of National Instrument-45-106. 


Dr. Schneider has engaged in these transactions for the purpose of financial
planning, and he may increase or decrease his ownership, control or direction
over Atacama's securities depending upon future market conditions. 


Pacific Land's address is c/o Alfaro, Ferrer & Ramirez (BVI) Limited, R.G. Hodge
Plaza, Second Floor, Upper Main Street, Road Town, Tortola, British Virgin
Islands. For further information please refer to the Early Warning Report posted
on SEDAR or contact Carl Hansen at [phone].