Makes Application for Management Cease Trade Order

Altiplano Makes Application for Management Cease Trade Order

Vancouver, BC, July 22, 2024 – Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG)) ("Altiplano" or the "Company") today announces that it anticipates a delay in the filing of the financial statements required pursuant to Parts 4 and 5 of National Instrument 51-102 Continuous Disclosure Obligations (the “Instrument”). The potential for delay is due to the Company’s and its auditors’ joint assessment of the time required for the remaining audit procedures and the auditors’ review process. The delay was caused by the resignation of the Company’s Chief Financial Officer (“CFO”) on May 31, 2024 upon short notice to the Company. Mr. Mark Minckler has been appointed as the new CFO of the Company. Mr. Minckler has over 30 years experience in accounting and finance including as a controller for a geological consulting exploration company. The new CFO is working closely with the Company’s accounting staff, Audit Committee Chair and auditor to deliver the audited financial statements and related MD&A. Both the Company and its auditors continue to work diligently towards the completion and filing of the financial statements and MD&A.

The Instrument requires that the Company’s audited consolidated financial statements, MD&A, and Chief Executive Officer (“CEO”) and CFO certifications relating to the audited consolidated financial statements for the 15-month period ended March 31, 2024 be filed by July 29, 2024. The Company and its auditor are in the process of completing the associated audit work to complete the audited consolidated financial statements. The Company expects that the audited consolidated financial statements, MD&A, and CEO and CFO certifications relating to the audited consolidated financial statements for the 15-months period ended March 31, 2024 (collectively, the “Required Filings”) will be completed and filed on or before August 30, 2024.

In connection with the anticipated delays in making the Required Filings within the time periods mandated by the Instrument, the Company has made an application under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”) to the Alberta Securities Commission, as principal regulator for the Company, requesting that a management cease trade order (“MCTO”) be issued. If granted, the MCTO will restrict all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until two business days after the Required Filings are filed or until it is revoked or varied.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release for so long as it remains in default of the requirement to make the Required Filings. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

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 an operating copper/gold/iron mine and a state-of-the-art operating copper/gold and iron processing facility in the final stages of completion. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Altiplano trades on the TSX Venture Exchange trading under the symbol APN and the Frankfurt Exchange under the symbol A2JNFG.

Altiplano is part of the Metals Group of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment www.metalsgroup.com opportunities and deliver shareholder returns.

ON BEHALF OF THE BOARD

/s/ "John Williamson"

Chairman

For further information, please contact:

Alastair McIntyre, CEO [email protected]

Tel: (416) 434 3799

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 the historical estimates as current mineral resources or mineral reserves. The Farellon mine was previously in production dating back to the 1970’s with a reported historical production (to a depth of 70 m) yielding approximately 300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization to reactivate production. The decision to commence production on the Farellon deposit 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 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.com.