EDMONTON, AB, July 9, 2025 – Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (“Altiplano” or the “Company”) is pleased to announce that the lease agreement with an option to acquire the Santa Beatriz copper-gold-iron mine has been extended to July 2029. Santa Beatriz is a historic underground copper-gold mine located approximately 45 kilometers south of La Serena, Chile, and 13 kilometers south of the El Peñón processing plant.
President and CEO Alastair McIntyre comments:
“We are very pleased to have reached a new agreement to extend the option on Santa Beatriz. The extension provides us with additional technical and financial flexibility to continue our exploration and development work and to support further underground work. The technical progress and positive sampling and drilling results at Santa Beatriz open up the potential to continuously supply high-grade and cost-effective material to our mill, which ultimately means a positive return for the company.”
Highlights:
Option Extension:
- The leasing and acquisition terms for Santa Beatriz are extended to July 2029.
- The monthly lease payments remain unchanged at CLP $5,000,000 (USD $5,300/CDN $7,250). The lease payments may increase by 5% if the average copper price exceeds US$4.50/lb in a given year.
- The Company has the option to acquire the property at any time during the lease term for $350,000,000 (~CDN $507,000) as per the original agreement.
Royalty Payments:
- The net profit interest (NPI) is reduced from 15% to 10% if the mineral is sold to a buyer other than the company’s own El Peñón plant.
- For material processed at the plant, a 1% royalty on net sales of copper and iron concentrates is due.
Exclusivity Payment:
- CLP $20M (USD $21,215/CDN $29,015) due within 6 months.
- CLP $20M (USD $21,215/CDN $29,015) due after 2 years, within 6 months.
- Secures exclusive right to purchase and preferential right to renew
Figure 1: Underground construction at the Santa Beatriz Mine.
The decision to develop the historic Santa Beatriz mine is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and there is increased uncertainty regarding the economic and technical risks of failure associated with a potential production decision.
Altiplano has earned more than C$23.8 million through the extraction and sale (after processing costs) of more than 8.2 million pounds of copper with an average grade of 1.8% Cu (January 2018 to March 2025). The cash has been reinvested in the acquisition, exploration, new equipment, underground drilling, expansion of underground development and production, and completion of the El Peñón copper-gold-iron processing plant, 30 km from La Serena, Chile.
About Altiplano
Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company has a diversified portfolio of assets that include exploration properties, a copper/gold/iron mine in development, and a state-of-the-art copper/gold and iron processing facility. Altiplano is focused on creating long-term shareholder value through the development of safe and sustainable production, reinvestment in exploration and development, and the pursuit of acquisition opportunities that provide scalable upside potential. Management has a substantial track record of capitalizing on opportunities, overcoming challenges and driving shareholder value.
Qualified Person
The technical content of this press release has been reviewed and approved by John Williamson, P.Geol., a Qualified Person as defined by National Instrument 43-101. Mr. Williamson is Chairman and Director of Altiplano Metals Inc. and is not independent of the Company.
| Altiplano is part of the Metals Group of Companies, managed by a dynamic group of resource sector professionals with a long track record of evaluating and advancing mining projects from exploration to production, attracting capital and overcoming adversity to deliver exceptional shareholder value. |
ON BEHALF OF THE BOARD
/s/ “John Williamson”
Chairman
For further information, please contact:
Alastair McIntyre, CEO
Tel: (416) 434 3799
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 press release.
This press release contains certain statements that may be considered “forward-looking statements”. All statements in this press release, other than statements of historical facts, that relate to exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating any historical information or estimates as current mineral resources or mineral reserves. The Santa Beatriz Mine was previously in production in mid-2010 with limited production data known. This material was processed and sold on site to a private processing facility. Altiplano is relying on limited past production records, underground sampling and related activities to guide its continued exploration and potential development of Santa Beatriz. The decision to develop the project and extract material for potential processing is not based on a feasibility study of mineral reserves demonstrating economic and technical feasibility, and there is increased uncertainty and economic and technical risk of failure associated with any future potential production decision . Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, mining and exploration successes, the continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title, and delays due to third party opposition, changes in government policies regarding the exploration and mining of mineral and natural resources, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that such 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 read the Company’s continuous disclosure reports available under www.sedarplus.ca are available.
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