Altiplano Pursues Wider High Grade Zones And Increased Processing Capability At Historic Farellon Cu-Au Mine

EDMONTON - Altiplano Metals Inc. reported on progress at the historic Farellon Copper-Gold Mine near La Serena, Chile. CEO John Williamson said, "Our in-country team continues to advance exploration at Farellon with the goal of developing a long term plan.  As new observations and data have become available, we have been continually evaluating extraction methods and processing options to form a basis for future economic studies to assess the potential for scalable extraction scenarios, as well as the possibility of initiating commercial operations. In order to complete the detailed studies, we will drive a ramp up to the 414M level to the northeast above the 395M level and to the 365M level. This will allow us to test the extent and vertical continuity of a wide high-grade zone located within the last 100 meters of our exploration to date, which will lead us closer to a production decision. Over the last quarter we have extracted an average of 3,200 tonnes per month, and anticipate extracting 4,800 tonnes in July."

With the discovery of wider Cu-Au mineralized zones in the northeast 395M level, the Company has also recommenced advancement of the Hugo decline to the northeast to gain access to the wider zone with the goal of intersecting the Farellon vein system up to 50 m below the current development.

During June, 2018 the Company completed extraction of its second 5,000 t bulk sample at Farellon. Of the 14,100 total tonnes of Cu-Au mineralized vein material extracted from Farellon to date, the Company has shipped 6,250 tonnes to a government processing facility and contracted two separate private processing facilities to process an aggregate of approximately 3,050 additional tonnes. Between the government and private processing facilities, 9,300 tonnes have been processed to date and Cu-Au concentrate has been shipped for sale. The Company has 6,000 tonnes of extracted Cu-Au mineralized vein material that remain stockpiled for processing.

The Company has been comparing technical results between the government and private processing facilities. Processing of the 3,050 additional tonnes of extracted Cu-Au vein material at the private facilities was supervised by the Company's metallurgical engineer as due diligence to assess the potential for purchase by Altiplano. It was determined that both private processing facilities provided a suitable Cu-Au concentrate and would be suited, with minor adjustments, to process the Company's extracted material in the future. The Company is currently in negotiations to pursue the possibility of purchasing a processing facility of its own.