Mr. Alastair McIntyre reports

ALTIPLANO INTERSECTS SANTA BEATRIZ VEIN, RECEIVES UPDATED PERMIT, BEGINS SHIPMENTS TO EL PENON

Altiplano Metals Inc. has released operational updates at the Santa Beatriz copper-gold-iron mine, located approximately 45 kilometres south of La Serena, Chile, and 13 kilometres south of the company's El Penon processing facility.

Highlights:

• Initial tunnel development began through the 437-metre level entrance and continued 63.4 metres to intersect the Santa Beatriz iron oxide copper-gold vein at the 425-metre level.
• Massive sulphides (chalcopyrite, pyrite and bornite), as well as magnetite, were observed in the vein.
• Mining of mineralized material has begun in two directions along the north and south vein extensions at Level 425.
• September extraction is projected at 3,000 tonnes, with daily production targeted between 120 and 140 tonnes.
• Shipments to El Penon processing facility have begun supporting the production of copper/gold and iron concentrates.
• New development will begin on the lower tunnel, accessed through the 414-metre opening, to support mining on two additional operational north and south faces located at the 400-metre level:
  • Work is expected to begin the week of Sept. 15, and intersection of the 400-metre level is expected early October.
• The Sernageomin (the Chilean mining authority) has approved the application for mine planning and expansion at Santa Beatriz for a 42-month period. The permit includes:
  • Eextraction of up to 4,275 tonnes per metre;
  • Approval for two additional mine openings (three in total) creating the opportunity for further expansion;
  • Additional tonnage and extensions can be applied for as development progresses.

President and chief executive officer Alastair McIntyre commented: "The ramp developments at the 425-metre and 400-metre levels represent a key milestone in advancing the Santa Beatriz mine toward maximum output. Access to the vein structure at lower levels and through multiple faces enables the extraction of high-grade copper/gold and iron material supporting increased production potential. Material supplied from Santa Beatriz to our plant addresses our goal of integrating our copper/gold and iron production and processing businesses. We are also very pleased to receive the mine extension permit at Santa Beatriz, providing us the opportunity to increase mineral production and sale of copper/gold and iron concentrates.

Altiplano has generated over $23.8-million from the recovery and sale (after processing costs) of more than 8.2 million pounds of copper with an average grade of 1.8 per cent copper (January, 2018, to March, 2025). Cash has been reinvested into acquisition, exploration, new equipment, underground drilling, expanding underground development and production, and the completion of El Penon copper-gold-iron processing facility located 30 kilometres from La Serena, Chile.

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 exploration properties, a developing copper/gold/iron mine, and a state-of-the-art operating copper/gold and iron processing facility. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration and development, and pursuing acquisition opportunities to provide scalable upside opportunities. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value.

Qualified person

The technical content of this news release has been reviewed and approved by John Williamson, PGeol, a qualified person as defined by National Instrument 43-101. Mr. Williamson is a chairman and director of Altiplano, and is not independent of the company.

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