Altan Rio Provides Bi-Monthly Shareholder Update

Perth, Australia--(Newsfile Corp. - June 29, 2023) - Altan Rio Minerals Limited (TSXV: AMO) is pleased to provide its third bi-monthly shareholder letter from Chairman and Interim CEO, Graeme Sloan.

Dear Shareholders,

Welcome to the third edition of our shareholder's letter. It has certainly been a hectic and exciting time over the past couple of months, as such we would like to take a moment to update you on the recent developments and exciting progress we have made over the past couple of months.

First and foremost, we are thrilled to announce the successful Gold Pour through our pilot stockpile, announcement found here. Although the finalization is still pending, we anticipate that this achievement will deliver positive returns for the company. This significant milestone not only improves our creditor position but also provides the necessary financing for our recent acquisition and boosts the company's working capital. We will provide a comprehensive update on this matter in our upcoming Q2 and Management Discussion and Analysis (MD&A) shareholder report. Please note that the MD&A is equivalent to the ASX quarterly report and will be released on our website, SEDAR reporting platform and distributed by email.

In terms of mergers and acquisitions, we have been very active in this arena. We have recently made notable progress with our pathway to consolidate the Southern Cross region with the Hakes Find and Torque Acquisitions. These strategic moves are aimed at strengthening our market position and expanding our strike across the Southern Cross Greenstone Belt. We are excited about the potential these acquisitions hold for our company's growth and development.

Furthermore, our exploration efforts have been extremely active, with fieldwork conducted within and around our tenement package. Of particular interest is the work completed around our new Parisian Target. We have been actively exploring the region using magnetics, and we are pleased to report positive findings so far, see exploration update here. This exploration update demonstrates our commitment to unlocking the full potential of the Southern Cross Greenstone Belt. We are confident that these efforts will contribute significantly to our future success.

Looking ahead, we remain focused on our fieldwork program and will continue to provide updates as we work towards consolidating our position in the Southern Cross Greenstone Belt.

We would like to express our gratitude for your continued support from our loyal shareholders and would also like to thank our small but dedicated team as we are committed to delivering real value and sustainable growth for all stakeholders. We look forward to updating you on the next chapter of our journey as we strive for continued success.

Thank you once again for your ongoing support, please be safe and keep well.

Graeme Sloan
Chairman and Interim CEO

About Altan Rio Minerals Limited

Altan Rio is a Canadian-listed, West Australian-focused gold exploration company primarily focused on the Southern Cross Greenstone Belt, a prolific gold producing region responsible for well in excess of 12 million ounces. The Company is focused on applying world-class exploration technologies and experience to proven mineralised tenure to generate shareholder wealth through discovery and production. To learn more about the Company, visit our website at https://www.altanrio.com/.

On behalf of Altan Rio Minerals Limited

Graeme Sloan
Director / Interim CEO
Email: gs@altanrio.com
+61 9322 1788

Josh Conner
Chief Operating Officer
Email: josh.conner@altanrio.com
+61 9322 1788

Media
David Tasker
Chapter One Advisors
Email: dtasker@chapteroneadvisors.com.au
+61 433 112 936

Cautionary Statement on Forward-Looking Information
This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Altan Rio to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These forward-looking statements are based on management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. Actual results may differ materially from those currently anticipated in such statements, and Altan Rio undertakes no obligation to update such statements, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/171806