Mr. Alastair McIntyre reports

ALTIPLANO MINERALS SPA SETTLES LEGAL PROCEEDINGS IN CHILE

Altiplano Metals Inc. has provided an update on the legal action initiated against Altiplano Minerals SpA.

Regarding case C-9351-2026 (Telecomunicaciones Robinson Alejandro Vergara Alvarez EIRL v. Altiplano Minerals Chile SpA), both parties have agreed on a settlement. A joint writ was filed with the 2nd Civil Court of Santiago on Sept. 25 to withdraw the forced liquidation. As result of this action, the company confirms the petition scheduled for hearing on Sept. 30 was withdrawn. Altiplano Minerals Chile SpA accepted this withdrawal without opposition and there will be no further action on this case.

The company also announces that on Sept. 29, it filed an appeal before the Court of Appeals of Santiago against the forced liquidation ruling initiated by Andes Core Mining SpA against Andes Metals SpA. The appeal is based upon the argument that the liquidation request did not fulfill all the requirements provided under local bankruptcy law. This appeal does not suspend the liquidation process. A ruling on the appeal should be expected within a period of four to six months approximately.

We seek Safe Harbor.