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Altiplano Metals Inc.

250 Southridge NW, Suite 300

Edmonton, AB

Canada

T6H 4M9

Altiplano Updates Status on Late Filing of Financial Statements

EDMONTON AB, August 4, 2026 - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") further to the Company's news release dated July 21, 2026, the Company continues to work towards the filing of its annual financial statements for the year ended March 31, 2026, management's discussion and analysis, and the related CEO and CFO certifications (collectively, the "Required Filings").

The Company advises that the audit process has now commenced. During the past week, the auditor completed the necessary preliminary administrative and planning procedures, and has begun its audit work using the financial information provided by the Company. The audit remains in its early stages, and the Company continues to work closely with its auditor to advance the audit as efficiently as possible. The Company will provide further updates as material progress is made.

The Company remains committed to completing the audit and making the Required Filings as expeditiously as possible and, in any event, no later than September 28, 2026. The Company expects to file its interim first-quarter financial statements within one week thereafter.

The Required Filings were due to be filed by July 29, 2026. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order ("MCTO") under National Policy 12-203 Management Cease Trade Orders ("NP 12-203") to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on July 31, 2026. The MCTO restricts all trading by the Company's CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. MCTO will remain in effect until it is revoked or varied.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

About Altiplano

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.

ON BEHALF OF THE BOARD

/s/ "John Williamson"

Chairman

For further information, please contact:

Alastair McIntyre, CEO

alastairm@apnmetals.com

Tel: (416) 434 3799

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the Company's application for a management cease trade order, the commencement and completion of the audit, the anticipated timing for filing the Required Filings, and the filing of its interim first-quarter financial statements. Forward-looking information is based on assumptions and is subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including the risk that the audit may not commence or be completed as anticipated, the Required Filings may not be filed within the expected timeframe, the interim first-quarter financial statements may be delayed, or the management cease trade order may not be granted. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise such information except as required by applicable securities laws.