Mr. John Williamson reports

ALTIPLANO ANNOUNCES PRIVATE PLACEMENT

Altiplano Metals Inc. has arranged a non-brokered private placement of up to six million units at 10 cents per unit to raise up to $600,000 in gross proceeds. Each unit will consist of one common share and one non-transferable share purchase warrant of the company.

Each warrant will be exercisable to acquire one additional common share at a price of 12 cents per share for two years from the closing date of the offering provided that if the closing market price for the company's common shares is equal to or greater than 20 cents per share for a period of five consecutive trading days at any point during the term, then the company may deliver a notice that the warrants must be exercised within 30 days from the date of delivery of such notice, otherwise the warrants will expire at 4:30 p.m. (Vancouver time) on the 31st day after the date of delivery of the notice.

Completion of the offering is subject to the delivery of definitive subscription agreements and TSX Venture Exchange's acceptance. All of the securities issued pursuant to this offering will have a hold period expiring four months and a day after the closing date. The net proceeds of the offering will be used primarily for the company's Farallon project and El Penon processing facility in Chile, and for general working capital purposes. The company may pay finders' fees raised in connection with the financing to arm's-length finders in accordance with the policies of the TSX Venture Exchange and as permitted by law.

Previous placement

The company also confirms that its previously announced private placement, which closed on a first tranche on Aug. 29, 2023, has received no further subscriptions and is now fully closed with all requisite and final TSX Venture Exchange approvals. All warrants issued pursuant the previous private placement are subject to the same acceleration clause as described herein.

About Altiplano Metals Inc.

Altiplano Metals is a growing gold, silver and copper company focused on the Americas. The company has a diversified portfolio of assets that include an operating copper/gold/iron mine and a state-of-the-art operating copper/gold and iron processing facility in the final stages of completion. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Altiplano trades on the TSX Venture Exchange under the symbol APN and the Frankfurt exchange under the symbol A2JNFG.

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