Altaley Mining Reports Third Quarter Financials
Altaley Mining Corporation
1000 – 1111 Melville Street
Vancouver, BC, V6E 3V6,
Canada
TSX.V: ATLY
Page 1 of 3
* Please refer to section “7 – Non GAAP measures” of the MD&A
Altaley Mining Reports Third Quarter Financials
Vancouver, British Columbia, November 23, 2021
Altaley Mining Corporation (“Altaley” or the “Company” (TSX-V: ATLY; OTC Pink: ATLYF; Frankfurt: TSGA)
announces strong financial and operating results for the three months ended September 30, 2021 (Q3
- 2021). The Company’s Financial Statements and Management Discussion & Analysis (“MD&A”) are
available on the Company’s website at www.altaleymining.com and www.sedar.com. All financial
information contained in this news release is unaudited and reported in CDN$, unless otherwise stated.
“Our Campo Morado team have produced another excellent quarter of operational results” stated
Ralph Shearing, CEO. “Q3 AISC and C1 Cash Costs have reduced by $0.07 and $0.03 respectively per
pound of zinc produced as compared to Q2 2021, resulting in gross revenue of just over $23 million and
mine operating profit of $9.55 million for the quarter. ”.
Q3 - 2021 Financial and Operational Highlights
Mine operating profit of $9.5 million and total income of $4.3 million during the quarter and
mine operating profit of $23.8 million and total income of $15.7 million year to date
10,743 tonnes of zinc concentrate produced with an average of 45% zinc, 2.29 g/t gold, 724 g/t
silver and sold approximately 10,169 tonnes of zinc concentrate generating revenue from zinc
concentrate of US$12.32 million. The Company also produced 2,690 tonnes of lead concentrate
grading an average of 22% lead, 1.56% copper, 5.45 g/t gold, 919 g/t silver and sold 2,296 tonnes
generating revenue from lead concentrate of US$2.1 million.
Total C1 cash cost per pound of zinc US$0.45 and all-in sustaining costs* (“AISC”) of US$0.70
during the quarter
The Company processed 168,443 tonnes of mineralized material, compared to approximately
127,438 tonnes of ore processed in the comparative period
Mineralized material mined during the period was 151,388 tonnes grading 4.30% zinc, 1.18% lead,
137 g/t silver and 1.13 g/t gold, achieving recoveries of 66.4% in zinc, 29% in lead, 11.3% in gold, and
23% in silver.
Altaley Mining Corporation
1000 – 1111 Melville Street
Vancouver, BC, V6E 3V6,
Canada
TSX.V: ATLY
Page 2 of 3
* Please refer to section “7 – Non GAAP measures” of the MD&A
About Altaley Mining Corporation
Altaley Mining Corporation is a Canadian based mining company with two 100% owned Mexican gold,
silver, and base metal mining projects.
Altaley's Tahuehueto mining project is in north-western Durango State, Mexico where construction has
been advanced to an estimated 80% of completion on its 1,000 tonne per day processing facility and
related mine infrastructure to initiate production of gold, silver, lead, and zinc in concentrates at
Tahuehueto. The Company is targeting initial pre-production near the end of 2021 and ramping up to
full production capacity during Q1-Q2 2022.
Campo Morado is an operating polymetallic base metal mine with mining and milling equipment
currently producing at an average rate of approximately 2,100 tonnes per day, Campo Morado is
currently estimated to be Mexico’s 6th largest zinc producer.
2021 2020 2021 2020
Operational
Ore Processed 168,443 127,438 506,872 286,314
Zn concentrate produced (ton) 10,743 7,778 33,568 18,057
Average realized zinc price per tonne (US$) 2,915 $ 2,332$ 2,809$ 2,071$
Zn grade 45% 46% 46% 46%
Zn recovery 66% 70% 71% 70%
Pb concentrate produced (ton) 2,690 1,609 7,245 3,878
Average realized lead price per tonne (US$) 2,139 $ 1,848$ 2,063$ 1,745$
Pb grade 22% 21% 22% 21%
Pb recovery 29% 29% 29% 29%
Cost Analysis
C1 Cash Cost (US$/lb) 0.45 $ 1.26$ 0.55$ 0.88$
All-in Sustaining Cost (US$/lb) 0.70 $ 0.80$ 0.79$ 1.03$
Financial
Gross revenues 23,076 $ 11,148 $ 68,781 $ 25,483 $
Mine operating profit 9,558 $ 473 $ 23,803$ 220 -$
Income (Loss) for the period 4,284 $ 4,377$ 15,655$ 1,944 -$
Non-restricted cash 7,466 $ 729 $ 7,466$ 729 $
Working capital deficiency 5,451 -$ 56,516-$ 5,451 -$ 56,516-$
Shareholders
Basic earnings (loss) per share 0.02 $ 0.03$ 0.07$ (0.01)$
Diluted earnings per share 0.01 $ 0.03$ 0.06$ - $
Three months ended September 30, Nine months ended September 30,
Altaley Mining Corporation
1000 – 1111 Melville Street
Vancouver, BC, V6E 3V6,
Canada
TSX.V: ATLY
Page 3 of 3
* Please refer to section “7 – Non GAAP measures” of the MD&A
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 Telson declared commercial production at Campo Morado prior to completing a feasibility study
of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that
Telson’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. Telson 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, disclosure regarding the planned recommencement
of mining operations at Campo Morado; 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 in 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 achieved; that recommencement of operations 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