Mr. Alastair McIntyre reports

ALTIPLANO PROVIDES UPDATES ON LEGAL PROCEEDINGS IN CHILE

Altiplano Metals Inc. has provided an update on the legal actions initiated against two of the company's wholly owned Chilean subsidiaries, Andes Metals SpA and Altiplano Minerals SpA. The company and the company's other subsidiaries are not subject to these initiated proceedings.

In the case filed by Telecomunicaciones Vergara Alvarez EIRL against Altiplano Minerals Chile SpA, both parties, at the request of the plaintiff, mutually agreed to suspend and postpone the hearing to Sept. 30, 2026. During this hearing, the judge will announce its final ruling unless a further postponement or settlement is reached.

The company confirms that it is working with the plaintiff and authorities to resolve the remaining proceeding against Altiplano Minerals to prevent any further actions. The company will provide an update once more information is available.

In the case of Andes Core Mining v. Andes Metals, the court rejected Andes Metals' defence and ordered the liquidation of Andes Metals Chile. The claim made by Andes Core Mining involved 191,788,796 Chilean pesos ($282,000). Andes Metals assets consist of the underground Santa Beatriz mine under option and the camp infrastructure and the exploration property Regalo. Santa Beatriz has been on care and maintenance since March, 2026, and no exploration activity was conducted on Regalo. The file goes to the insolvency superintendency to appoint an administrator who will carry out the liquidation process. Any surplus left over from the sale will be retained by the company. The company continues to consider its legal position, including pursuing further actions to recover debts owed and other legal remedies to protect its interests.

We seek Safe Harbor.