Altan Nevada Minerals Provides Update on Private Placement

VANCOUVER, BC (November 5, 2020) - Altan Nevada Minerals Limited (TSXV: ANE) ("Altan Nevada" or the "Company") is pleased to provide an update today to its non-brokered private placement, previously announced on October 15, 2020, of up to 33,333,333 common shares of the Company (the "Shares") at a price of C$0.015 per Share (the "Offering").

Subject to the acceptance of the TSX Venture Exchange ("TSXV"), under the Offering the Company will now offer for sale up to 33,333,333 units (the "Units") at a price of C$0.015 per Unit, each Unit comprising one Share and one common share purchase warrant (each a "Warrant") for aggregate gross proceeds to the Company of up to C$500,000. Each Warrant shall entitle the holder thereof to purchase one additional Share at a price of $0.05 per Share for a period of four years from the closing date of the Offering.

Pursuant to the terms of the Offering, if the Shares trade at a VWAP of at least C$0.10 for ten (10) consecutive trading days, the Company is entitled to accelerate the expiry date of the Warrants to a date that is thirty (30) days from the date notice of such acceleration is provided to holders of Warrants.

All other terms of the Offering remain the same as announced in the press release of the Company dated October 15, 2020.

On behalf of Altan Nevada Minerals Limited

For more information contact:

Paul Stephen Chief Executive Officer Email: [email protected] +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 Nevada 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 Nevada 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.