HHH.V · 2022-05-17 12:00:00

Altan Nevada Announes New CFO, Provides Bi-Weekly MCTO Status Update

Listings & Exchange Regulatory & Compliance

Vancouver, BC – May 17, 2022 – Altan Nevada Minerals Limited (" Altan Nevada" or the " Company")

(TSXV: ANE) is pleased to announce that Brian Cole has been named Chief Financial Officer following the

resignation of Robert Williams. Mr. Cole, a direct or and Corporate Secretar y of the Company, has a

Bachelor of Business degree from the Western Australian Institute of Technology, specializing in Business

Law and Accounting. He is a Chartered Accountant and Chartered Management Consultant.

The Company is also providing this bi-weekly updat e on the status of the management cease trade order

granted on May 4, 2022 (the "MCTO") under National Policy 12-203 – Management Cease Trader Orders

("NP 12-203") as announced on May 4, 2022 (the " Default Announcement"). The MCTO was granted

following the Company's application to the applicabl e securities regulatory authorities once it was

determined it was not in a positi on to file its audited annual financ ial statements for the year ended

December 31, 2021, the related management's di scussion and analysis and the related CEO and CFO

certificates (collectively, the "Documents") before the required deadline of May 2, 2022. The MCTO does

not affect the ability of investors who are not insiders to trade in the securities of the Company.

The Company confirms that the annual audit is ongoing, and the Company continues to expect to file the

Documents on or before May 27, 2022. The Company continues to work closely with its auditor to remedy

the default status and file the Documents as soon as possible.

The Company confirms that since the date of the Default Announcemen t: (i) there has been no material

change to the information set out in the Default A nnouncement that has not been generally disclosed; (ii)

the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative

information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay

in filing the Documents is continuing, each of which will be issued in the form of a press release; (iii) there

has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject

to any insolvency proceedings; and (v) there is no ma terial information concerning the affairs of the

Company that has not been generally disclosed.

Cautionary Statement on Forward-Looking Information

This release may contain forward-looking statement s. Forward-looking statements involve known and

unknown risks, uncertainties, and ot her factors which may cause the ac tual results, performance, or

achievements of Altan Nevada to be materially diffe rent 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.

For more information contact:

Brian Cole, CFO, Corporate Secretary and Director

+61 418 947 564

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the

policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press

release.