EDMONTON, - December 2nd, 2024, Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (“Altiplano” or the “Company”) is pleased to report a new prepayment and concentrate purchase agreement has been arranged with Ocean Partners, Chile. This facility will be used to support the copper-gold concentrate production and sale from the El Peñón processing facility located approximately 30 kms south of La Serena, Chile.

Highlights:

• Ocean Partners will purchase monthly copper-gold concentrate production from the El Peñón processing plant.
  • Concentrates will be shipped to Ocean Partners port facilities in Coquimbo located approximately 30 kms from the processing plant.  
  • The agreement provides the Company an opportunity to draw down on a US$80,000 prepayment facility to assist with monthly working capital requirements when needed.
  • The first sale of seventy-two tonnes of copper concentrate was shipped on November 26th with a provisional value of approximately C$200,000.

President and CEO Alastair McIntyre comments: “We are very excited to begin a relationship with Ocean Partners who have a great team in Chile to support our business and growth opportunities. Shipping concentrates to the port facility just 30 kms away supports our mandate to reduce costs and emissions and I look forward to growing our business together.”

Figure 1. Copper-Gold Concentrates Prepared for Shipment

Figure 2. Loading Concentrates

Altiplano has generated over C$22.2 million from the recovery and sale (after processing costs) of more than 6.95 million pounds of copper (January 2018-September 2024). Cash flow has been re-invested into equipment, underground drilling, expanding underground development, and the construction and completion of the El Peñón Cu-Au-Fe processing plant. This progress has enabled Altiplano to establish a significant foothold in the Chilean mining community.

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 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

www.metalsgroup.com

For further information, please contact:

Alastair McIntyre, President, CEO and Director
moc.slatemnpa@mriatsala
Tel: (416) 434-3799

Jeremy Yaseniuk, Director
moc.slatemnpa@yymerej
Tel: (604) 773-1467

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.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating any historical estimates as current mineral resources or mineral reserves. The Santa Beatriz mine was previously in production mid 2010’s with little known production records. This material was processed and sold locally to a private processing facility. Altiplano is relying upon limited past production records, underground sampling and related activities to further explore and potentially develop Santa Beatriz. This decision is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any future potential production decision. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca.