00:10:29 EDT Tue 07 Apr 2020
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Altan Rio Minerals Ltd
Symbol AMO
Shares Issued 89,123,009
Close 2020-02-11 C$ 0.01
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ORIGINAL: Altan Rio closes $503,355 first tranche of placement

2020-02-13 22:53 ET - News Release

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File: Attachment Altan Rio - Press Release first closing (Q1 2020 Placement).pdf


               Altan Rio Announces Closing of First Tranche of Private Placement
VANCOUVER, BC (February 13, 2020) - Altan Rio Minerals Ltd. (NEX:AMO.H) ("Altan Rio" or the
"Company") is pleased to announce it has closed the first tranche of its previously announced non-brokered
private placement of up to C$1,000,000 (the "Private Placement"). The first tranche of the Private
Placement raised gross proceeds of C$503,355.65 through the sale of 50,0335,565 common shares (each
a "Share") at a price of $0.01 per Share.

The Company will pay the following cash commissions in connection with the Private Placement: (i) $34,000
to Parkwise Corporation Pty Ltd; and (ii) $5,000 to Canaccord Genuity Corp.

The Company intends to use the proceeds from the Private Placement to advance its interest in the
previously announced transaction with Surveyor Resources Pty Ltd, pay certain creditors and for general
and administrative expenses.

The Shares sold in the Private Placement are subject to a resale hold period under applicable Canadian
securities laws which expires on June 14, 2020.

The Company anticipates closing at least one more tranche of the Private Placement in the near future,
subject to the approval of the TSX Venture Exchange (the "TSXV") of a Personal Information Form filed in
connection with the Private Placement.

On behalf of Altan Rio Minerals Limited
For more information contact:
Paul Stephen
Chief Executive Officer
Email: ps@altanrio.com
+61 9322 1788

Cautionary Statement on Forward-Looking Information

This release may contain forward-looking statements. Forward-looking statements involve known and
unknown risks, uncertainties, and other factors which may cause the actual results, performance, or
achievements of Altan Rio to be materially different from any future results, performance, or achievements
expressed or implied by the forward-looking statements. These forward-looking statements are based on
management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers
are cautioned not to place undue reliance on such forward-looking statements or information. Actual results
may differ materially from those currently anticipated in such statements, and Altan Rio undertakes no
obligation to update such statements, except as required by law.

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

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