Altiplano Announces Closing with Comet Exploration And Sale of Orogrande Property in Idaho

EDMONTON - Altiplano Metals Inc. has completed the purchase from Comet Exploration Inc. of all of Comet's 50% interest in the Farellon and Maria Luisa projects in Chile as previously announced.  The final step to conclude the transaction was the approval of the demerger agreement by the Chilean tax authorities, which has now been granted.

The Company has also entered into an agreement for the sale and transfer all its interests in the Orogrande Property in Idaho to Montego Resources Inc., in consideration of Montego's payment to the Company of US$50,000, and Montego's issuance to the Company of 520,000 common shares. Completion of the disposition to Montego is subject to the consent and waiver of Velocity USA, Ltd., which  holds a 1.5% net smelter returns royalty over the property, and the acceptance of the Agreement for filing by the TSX Venture Exchange on behalf of the Company.