Altaley Mining Reports C$19.9 Million Net Revenue on a Preliminary Basis for Q4 2021 at Campo Morado
Altaley Mining Corporation
1000 – 1111 Melville Street
Vancouver, BC, V6E 3V6,
Canada
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Altaley Mining Reports C$19.9 Million Net Revenue
on a Preliminary Basis for Q4 2021 at Campo Morado
VANCOUVER, BRITISH COLUMBIA, JANUARY 25, 2022
Altaley Mining Corporation (“Altaley” or the “Company” (TSX-V: ATLY; OTCQX: ATLYF; Frankfurt: TSGA) is
pleased to provide shareholders the preliminary production results and cost estimates for the quarter
ended December 31, 2021 (“ Q4 2021”) from its Campo Morado Mine located in Guerrero state, Mexico.
Currencies referenced in this press release are expressed in Canadian dollars, unless otherwise stated.
“I am pleased to report Q4 2021 preliminary production, C1 Cash Costs and AISC from Altaley’s Campo
Morado Mine .” states Ralph Shearing, CEO & President, “Campo Morado operations are reporting
another excellent quarter with estimated net revenue for Q4 2021 of $ 19.9 million. Although head
grades of mineralization during Q 4 2021 were marginally lower, our zinc concentrate production
increased by 14% and zinc recoveries were up by 8% resulting in Q4 net revenues increasing by 15%
when compared to Q3 2021. Costs this quarter have increased largely because of concentrate treatment
and refining charges that have more than doubled when compared to Q3 however, approximate yearly
average costs for year ending 2021 are estimated at C1 Cash Costs US$0.64/lb Zn and AISC at US$0.87/lb
Zn, net of by-product metals”.
Q4 2021 Production
Month Ended Quarter Ended
Production and Sales Oct Nov Dec Q3 2021 Q4 2021 Variation 2021 2021 2021
Production
Ore milled (kt) 59.9 60.5 62.6 168.4 183.1 9%
Zinc Concentrate (kt) 4.4 4.1 3.8 10.7 12.2 14%
Lead Concentrate (kt) 1.0 0.8 1.0 2.7 2.7 0%
Average Head Grades
Gold (gr/t) 1.0 1.1 1.0 1.0 1.0 0%
Silver (gr/t) 127.6 117.5 110.2 132.4 118.3 -11%
Lead (%) 1.2% 1.0% 1.0% 1.1% 1.1% 0%
Zinc (%) 4.8% 4.4% 3.8% 4.4% 4.3% -1%
Average Recoveries
Gold (%) 24% 19% 20% 23% 21% -7%
Silver (%) 47% 49% 44% 46% 47% 2%
Lead (%) 34% 27% 29% 29% 30% 3%
Zinc (%) 71% 71% 72% 66% 71% 8%
Altaley Mining Corporation
1000 – 1111 Melville Street
Vancouver, BC, V6E 3V6,
Canada
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Average Realized Prices (Amounts in US Dollars)
Gold (troy oz) 1,785 1,790 1,756 1,781 1,776 0%
Silver (troy oz) 24 23 22 26 23 -10%
Lead (t) 2,350 2,350 2,355 2,132 2,354 10%
Zinc (t) 2,900 2,975 3,040 2,903 2,973 2%
Net Revenues (Amounts in ,000 of CAD$)
Zinc Concentrate 5,945 5,393 4,809 14,761 17,073 16%
Lead Concentrate 1,006 1,162 661 2,658 2,909 9%
Total Net Revenues 6,951 6,555 5,470 17,419 19,982 15%
FIGURE 1
Production Costs (US$) net of by-products Q3 2021 Q4 2021 YTD 2021
C1 Cash Cost /lb Zn $0.45 $0.88 $0.64
All In Sustaining Costs AISC/lb Zn $0.70 $1.06 $0.87
Q4 and YTD 2021 net revenues, C1 Cash Costs and AISC presented in this press release are preliminary and based on initial
assays at the time of concentrate deliveries. Preliminary results presented above are not expected to be materially different
from final results. The Company will disclose final Q4 net revenue, operating profit, C1 Cash Costs and AISC. upon receipt and
agreement of final assay results, either before or, at the time of filing 2021- year-end audited financial statements.
About Altaley Mining Corporation
Altaley Mining Corporation is a Canadian based mining company with two 100% owned Mexican gold,
silver, and base metal mining projects.
Altaley's Tahuehueto mining project is in north-western Durango State, Mexico where construction has
been advanced t o an estimated 95 % of completion on its 1,000 tonne per day processing facility and
related mine infrastructure to initiate production of gold, silver, lead, and zinc in concentrates at
Tahuehueto. The Company is targeting initial pre -production in February 2022 and ramping up to full
production capacity during Q1-Q2 2022.
Altaley Mining Corporation
1000 – 1111 Melville Street
Vancouver, BC, V6E 3V6,
Canada
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Campo Morado is an operating polymetallic base metal mine with mining and milling equipment
currently producing at an average of 2,100 tonnes per day and is currently estimated to be Mexico’s 6th
largest zinc producer.
Visit: www.altaleymining.com
On Behalf of the Board of Directors
(signed) “Ralph Shearing”
Ralph Shearing, P. Geol,
CEO, President and Director
CAUTIONARY NOTE REGARDING PRODUCTION DECISIONS AND FORWARD-LOOKING STATEMENTS
It should be noted that Altaley declared commercial production at Campo Morado prior to completing a feasibility study of
mineral reserves demonstrating economic and technical vi ability. Accordingly, readers sh ould be cautioned that Altaley’s
production decision has been made without a comprehensive feasibility study of established reserves such that there is greater
risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would
be the case if a feasibility study were completed and relied upon to make a production decision. Altaley has completed a
preliminary economic assessment (“PEA”) mining study on the Campo Morado mine that provides a conceptual life of mine plan
and a preliminary economic analysis based on the previously identified mineral resources (see News Release dated November 8,
2017 and April 4, 2018).
Statements contained in this news release that are not historical facts are "forward -looking information" or "forward -looking
statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward -
Looking Information includes, but is not limited to, the Lender’s plans to acquire the Accendo Loan Facility out of liquidation and
other possible events; conditions or financial performance that are based on assumptions about future economic conditions and
courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases;
success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral
processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words
and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words
and phrases. In preparing the Forward -Looking Information i n this news release, the Company has applied several material
assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives
concerning the Campo Morado Mine and the Tahuehueto Project can be achie ved; that recommencement of oper ations at
Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions,
and operations. Forward -Looking Information involves known and unknown risks, uncertainties and other factors which may
cause the actual results, performance, or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the Forward -Looking Information. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on Forward -Looking Information. Except
as required by law, the Company does not assume any obligation to release publicly any revisions to Forward -Looking
Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence
of unanticipated events.
Neither 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.
For further information about Altaley Mining Corporation, please contact:
Glen Sandwell
Corporate Communications Manager
Tel: +1 (604) 684-8071