Altiplano Finalizes New Maria Luisa Agreement for 100% Ownership
Altiplano Finalizes New Maria Luisa
Agreement for 100% Ownership
Edmonton, Alberta--(Newsfile Corp. - May 13, 2021) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "
Company
") is pleased to announce that it has entered into a new arm's-
length option agreement (the "
Agreement
") on the Maria Luisa project (the "
Property
"), whereby the
Company may acquire a 100% undivided interest in the Property for a total acquisition cost of
US$2,000,000 over three years.
This Agreement replaces the current revenue sharing agreement on the
Property, previously announced on August 27, 2020, which can be viewed
here
.
Under the terms of the Agreement, Altiplano may acquire a 100% interest in the Property by paying a
total of US$2,000,000 over three years, as follows:
US$200,000, paid in 12 equal monthly payments in the first year;
US$800,000, paid on the first-year anniversary of closing the Agreement;
US$500,000, paid on the second-year anniversary of closing the Agreement;
US$500,000, paid on the third-year anniversary of closing the Agreement.
CEO Alastair McIntyre commented, "We are pleased to have concluded a new agreement for Maria
Luísa. These new terms provide the opportunity for Altiplano to acquire 100% of the project and retain
100% of the anticipated profits. Maria Luísa offers a great opportunity to build on our revenue generation
model from the development of a high-grade gold/copper historical producer. Our next step is to finalize
our design review for the underground development and submit our application for permitting."
Figure 1 - Location map.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4303/83861_01ecafc0c48cd838_001full.jpg
About Maria Luisa
The Maria Luisa gold-copper project is located approximately 100 km north of La Serena at Incahuasi,
within the Atacama Region of Chile. Gold-copper vein type deposits are part of a well outlined continuum
of mineralization related to extensional fault bounded environments. This setting is ideal for the discovery
of high-grade gold-copper veins, with many examples occurring throughout northern Chile.
Figure 2 - Access to Historical Underground Workings.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4303/83861_01ecafc0c48cd838_002full.jpg
About Altiplano
Altiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on the acquisition and
development of near-term cash flowing assets and exploration projects of significant scale. Altiplano's
goal is to grow into a mid-tier producer of copper, gold and silver with immediate plans of generating
profits from three cash flowing projects in 2021. Management has a substantial record of success in
capitalizing on opportunity, overcoming challenges and building shareholder value.
John Williamson, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101, has reviewed and
approved the technical contents of this document
Altiplano is part of the Metals Group of companies, managed by 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 opportunities and deliver shareholder
returns.
www.metalsgroup.com
ON BEHALF OF THE BOARD
/s/ "John Williamson"
Chairman
For further information, please contact:
Alastair McIntyre, CEO
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. Any decision to commence production 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.sedar.com
.
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https://www.newsfilecorp.com/release/83861