Altaley Mining Updates Agreement and Grants Stock Options to Service Provider
Altaley Mining Corporation
1000 – 1111 Melville St.
Vancouver, BC, V6E 3V6
www.altaleymining.com
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Altaley Mining Updates Agreement and
Grants Stock Options to Service Provider
VANCOUVER, BRITISH COLUMBIA – February 10, 2023
Altaley Mining Corporation (the “ Company” or “Altaley”) announces that it has amended a marketing
agreement (“Agreement”) with Peak Investor Marketing (“Peak”) originally dated December 3, 2021 .
By mutual agreement Altaley and Peak suspended the Agreement effective September 23, 2022 . At
that time a total of C$36,000 of past due fees were outstanding and payable to Peak by Altaley.
On January 5, 2023 , by mutual agreement the suspension of the Agreement was lifted and would
continue on a month-to-month basis. It was agreed that the outstanding debt of C$36,000 would be
paid to Peak on the following payment schedule:
a) $12,000 upon closing the rights offering announced by Altaley on December 6, 2022
b) The balance of $24,000 to be paid by the end of March 31, 2023
Altaley also agrees to grant Peak a total of 100,000 incentive stock optio ns (the “ Peak Options”)
exercisable at the closing price on the date of grant which will be following TSX Venture Exchange
(“TSXV”) approval . The Peak Options are issued in accordance with the terms of the Company’s
Incentive Stock Option Plan (the “Plan”) and TSXV Policy 4.4, and are subject to the approval of the
TSXV. The Peak Options vest in four stages over a period of 12 months, with ¼ of the Peak Options
vesting three months after the grant date and every three months thereafter. The Peak Options will
expire ninety days after the termination of the Agreement.
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 Gold Mine Project is in north -western Durango State, Mexico , where
construction of an initial 500 tonnes per day (“tpd”) operation is well advanced. The second stage, the
nameplate 1000 tpd project, will follow during 2023 . The operation is generating gold, silver, lead, and
zinc in concentrates.
Campo Morado is an operating polymetallic base and precious metals mine currently producing zinc
and copper concentrates at an average of 2400 tpd and is progressively increasing its copper-silver
revenues.
Visit: www.altaleymining.com
On Behalf of the Board of Directors
(signed) Mike Struthers
Mike Struthers,
CEO and Director
News Release
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Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Altaley declared commercial production at Campo Morado and elected to initiate construction to go into production at Tahuehueto
prior to completing full feasibility stud ies demonstrating economic and technical viability. Accordingly, readers should be cautioned that Altaley’s
production decisions have been made without comprehensive feasibility studies of established reserves at Campo Morado and prefeasibility level reserves
at Tahuehueto, such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and at Tahuehueto mine where
reserves are established to the prefeasibility level of confidence and therefore a higher technical risk of failure than would be the case if full feasibility
studies were completed and relied upon to make production decisions. Altaley has completed a preliminary economic assessment (“PEA”) mining study on
the Campo Morado mine and a prefeasibility study (“PFS”) at Tahuehueto 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, April 4, 2018, and April 25, 2022).
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
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 var iations 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 an d the Tahuehueto
Project can be achieved: 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 diffe rent 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