Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (“Altiplano” or the “Company”) is pleased to provide an update on the construction phase at the El Peñón processing plant to support the Farellon iron and copper oxide plant. Gold mine (Cu-Au) located near La Serena, Chile.

The Company is pleased to announce that the application for the incorporation of an iron separator (designed to recover high added value iron oxide) and a high efficiency water recovery circuit (designed to produce dry tailings) has been approved by the Chilean mining authority. Adding this equipment to the processing circuit offers the possibility of capturing high value iron which can be sold to generate secondary income and, with iron removal, reduce overall tailings production by 50%. The dewatering stack will generate a dry tailings product that can be moved and stored in an environmentally efficient manner that will replace the need for a conventional tailings dam system. In addition, the chimney dewatering circuit will reduce the overall consumption of fresh water required by the plant by approximately 75%. The equipment was recently manufactured and will be delivered from storage in Chile to the site next week. Civil works such as slab leveling, electrical and plumbing are underway for the installation of the equipment.

CEO Alastair McIntyre comments “We are delighted to receive this important approval as the next step in the completion of our processing facility. With our treatment design, APN will be one of the first companies in the Chilean mining sector to implement a state-of-the-art environmental process. focused on water conservation and waste reduction. Water is an important resource in Chile and our process is designed to preserve this precious resource. I believe our best practice approach to sustainable mining and environmentally responsible processing will reduce our footprint and make APN a leader in Chile’s small-scale mining sector.

Description of the plant

The APN processing facility will use modern high efficiency flotation circuits that focus on copper and gold recovery while also using a magnetic separation system for the recovery of magnetite and other iron minerals. (Figure 1). The circuit will use a filter press system for the concentrate and copper tailings and a disc filter for the iron concentrate. All systems are designed to focus on water conservation and reduction of total tailings production. The combined process is designed to reduce the total material reported in tailings by up to 50%, compared to standard practice at copper processing plants treating iron oxide and copper-gold (IOCG) deposits. The water will be recovered and recycled, thus ensuring efficient water reuse, with an expected reduction in freshwater consumption of around 75% compared to conventional systems. Typically, standard installation configurations for small mining operations are limited to flotation recovery without effective water recovery systems. In addition, the moisture content of the tailings will be reduced to about 10% to 15% through the filter press system and placed in a dry tailings treatment facility. This additional process will significantly reduce water loss through evaporation compared to conventional tailings dams. The completion date of the processing facility is scheduled for the first quarter of 2022.

Figure 1. Flowchart of the processing plant.

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In addition to conserving water, magnetic separation can recover up to half of plant food as marketable iron concentrate. A total of 1,850 tonnes of iron oxide is expected to be recovered per month and can represent a significant portion of the revenue combined with the sale of the copper-gold concentrate.

The circuit takes advantage of the magnetic properties of iron mineralization in the feed to the crusher and does not require additional crushing or dewatering as the feed to the magnetic separators is made up of tailings or rejects from the flotation circuit. This process dramatically reduces the amount of tailings to be disposed of in a tailings storage facility while maximizing the recovery of all minerals in the plant feed, thereby reducing the overall environmental footprint of the mining process.

Figure 2. Schematic illustration of the magnetic and drying installations.

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A schematic video illustration of the operation of the plant can be viewed via the following link:

Altiplano generated over US $ 7.2 million from the recovery and sale of approximately 3.6 million pounds of copper with an average grade of 1.74% Cu (2018 Q1-2021 Q3). Cash flow was reinvested in equipment, underground drilling, expanding underground development, improving ventilation to increase productivity and capacity, and starting the licensed mill and flotation plant. El Peñón located 15 km from the Farellon site.

About the Altiplano

Altiplano Metals is a growing gold, silver and copper company focused on the Americas. The Company has a diversified portfolio of assets which includes an operating copper-gold-iron mine, short-term gold-copper development projects and sets of exploration land with scale potential. ‘a district. Altiplano is focused on creating long-term value for stakeholders by developing safe and sustainable production, reinvesting in exploration and seeking acquisition opportunities to complement its existing portfolio. Management has a solid track record of success in capitalizing on opportunities, solving challenges and creating shareholder value. Altiplano is listed on the Toronto Venture Stock Exchange under the symbol APN and on the Frankfurt Stock Exchange under the symbol A2JNFG.

John Williamson, B.Sc., P.Geol., A Qualified Person as defined in NI 43-101, has reviewed and approved the technical content of this document.

Altiplano is part of the Metals group of companies, managed by a team of award-winning professionals who distinguish themselves through technical excellence, careful project selection and uncompromising corporate governance, with a proven ability to capitalize on business opportunities. investment and generate returns for shareholders.

www.metalsgroup.com

ON BEHALF OF THE BOARD

/ s / “John Williamson”
President

For more information, please contact:
Alastair McIntyre, President and Chief Executive Officer.
[email protected]
Phone. : (416) 434-3799

Jeremy Yaseniuk, Director
[email protected]
Phone. : (604) 773-1467

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 press release includes certain statements which may be considered “forward-looking statements”. All statements in this press release, other than statements of historical fact, that relate to exploration drilling, operations and events or developments to be expected by the Company are forward-looking statements. A Qualified Person has not performed sufficient work to classify historical estimates as Mineral Resources or Current Mineral Reserves and the Issuer does not treat historical estimates as Mineral Resources or Current Mineral Reserves. The Farellon mine had previously been in production since the 1970s with reported historical production (to a depth of 70m) yielding approximately 300,000 tonnes at an average grade of 2.5% copper and 0.5 g / t d ‘gold. This material was processed locally and sold to ENAMI. Altiplano relies on past production records, underground sampling and related activities, and ongoing diamond drilling to estimate the grade and widths of mineralization in order to reactivate production. The decision to begin production on the Farellon deposit is not based on a mineral reserve feasibility study demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. . Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those of forward-looking statements. Factors that could cause actual results to differ materially from those of forward-looking statements include market prices, operating and exploration successes, continuity of mineralization, uncertainties relating to the ability to obtain permits, licenses and titles required and delays due to opposition from third parties, changes in government policies regarding exploration and exploitation of minerals and natural resources, and the continued availability of capital and financing, and conditions general economics, market or business. Investors are cautioned that these statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information about the Company, investors should consult the Company’s continuous disclosure documents which are available at www.sedar.com.

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