Altiplano Secures the Extension to the Option on Santa Beatriz Cu-Au-Fe Mine
Altiplano Secures the Extension to the Option
on Santa Beatriz Cu-Au-Fe Mine
Edmonton, Alberta--(Newsfile Corp. - July 9, 2025) -
Altiplano Metals Inc
. (TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "Company") is pleased to announce the lease agreement with option to
acquire the Santa Beatriz copper-gold-iron mine has been extended to July 2029. Santa Beatriz is a
historic underground copper-gold mine located approximately 45 kilometers south of La Serena, Chile,
and 13 kilometers south of the El Peñón processing plant.
President and CEO Alastair McIntyre comments:
"We are very pleased to reach a new agreement extending the Santa Beatriz option.
The extension
provides us added technical and financial flexibility to continue our exploration and development to
support further underground work. The technical progress and positive sampling and drilling results at
Santa Beatriz opens the potential to provide on-going high grade low-cost material for our mill, ultimately
providing a positive return for the company."
Highlights:
Option Extension
:
Leasing and acquisition terms for Santa Beatriz are extended until July 2029.
The monthly rental payments remain the same at CLP $5,000,000 ($5,300 USD/$7,250
CDN), Rental payments may increase by 5% if the average copper price exceeds
US$4.50/lb in each given year.
The Company has the option to purchase the property at any time remains during the lease
period for CLP $350,000,000 (~$507,000 CDN) as per the original agreement
Royalty payments:
Net Profit Interest (NPI) reduced from
15% to 10%
if mineral is sold to a buyer other than the
Company owned El Peñón plant
.
For material processed at plant, a
1% royalty on net sales
of copper and iron concentrates will
apply.
Exclusivity Payment:
CLP $20M ($21,215 USD/$29,015 CDN) due within 6 months.
CLP $20M ($21,215 USD/$29,015 CDN) due after 2 years, within 6 months.
Secures exclusive right to purchase and preferential right to renew.
Figure 1
: Underground at Santa Beatriz Mine.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4303/258205_altiplano%20figure%201.jpg
The decision to develop the historical Santa Beatriz mine is not based on a feasibility study of mineral
reserves demonstrating economic and technical viability and there is increased uncertainty of
economic and technical risks of failure associated with any potential production decision.
Altiplano has generated over
C$23.8 million
from the recovery and sale (after processing costs) of
more than
8.2 million pounds of copper
with an average grade of
1.8% Cu
(Jan 2018 to Mar 2025).
Cash has been re-invested into acquisition, exploration, new equipment, underground drilling, expanding
underground development and production, and the completion of the El Peñón copper-gold-iron
processing facility located 30 km from La Serena, Chile.
About Altiplano
Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company
has a diversified assets that include exploration properties, a developing copper/gold/iron mine and a
state-of-the-art operating copper/gold and iron processing facility. Altiplano is focused on creating long-
term stakeholder value through developing safe and sustainable production, reinvesting into exploration
and development, and pursuing acquisition opportunities to provide scalable upside opportunities.
Management has a substantial record of success in capitalizing on opportunity, overcoming challenges
and building shareholder value.
Qualified Person
The technical content of this news release has been reviewed and approved by
John Williamson,
P.Geol.
, a Qualified Person as defined by National Instrument 43-101. Mr. Williamson is a Chairman
and Director of Altiplano Metals Inc. and is not independent of the Company.
Altiplano is part of the Metals Group of Companies, led by a dynamic group of resource sector
professionals with a long record of success in evaluating and advancing mining projects from exploration
through to production, attracting capital, and overcoming adversity to deliver exceptional shareholder
value.
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 any historical information
or estimates as current mineral resources or mineral reserves. The Santa Beatriz mine was previously
in production mid 2010's with little known production records. This material was processed and sold
locally to a private processing facility. Altiplano is relying upon limited past production records,
underground sampling and related activities to further explore and potentially develop Santa Beatriz.
The decision to develop the project and extract material for potential processing 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 future potential
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.ca
.
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