Altiplano Metals Inc. reported on the April 2023 operating results from the Farellon Copper-Gold (Cu-Au) mine located near La Serena, Chile. During the month of April, approximately 3,022 tonnes of mineralized copper-gold material was produced at Farellon with approximately 2,973 tonnes shipped and processed. The April production represents an increase of 5% over the March output of 2,875 tonnes.

Processing in April decreased by 11% over the March figure of 3,315 tonnes processed. The copper grade at Farellon observed in April was 1.72%, representing a small decrease from the 1.77% observed in March. Revenue generated in April was approximately USD279,925 after processing costs, representing a 17% decrease over March's revenue of USD329,055.

At April month end, an additional 200 tonnes were stockpiled at site with 1,790 tonnes in process at ENAMI. The revenue from this material will be credited in the following months after processing has been completed. An additional, 6,000 tonnes of lower grade stocks are on site at Farellon and available to be shipped and processed at El Penon.

This material will be blended with higher grade material to optimize the milling process. A total of 2,800 tonnes have been shipped to the El Penon processing facility in advance of full operation. This material will be used as part of the startup phase expected in the last week of June.

Newly mined material will begin to be shipped to the El Penon facility in mid-July. Mining during the month of April focused on the extraction on the 352 NE and 344 NE and SW levels. The advance of the Hugo Decline to the level 336 m is underway with an expected target date of mid July to begin operations on this level in the NE and SW directions.

Bench mining will continue in levels above as part of the on-going mining plan.