Altiplano Reports Cash-positive Second Quarter Operations in Chile

Edmonton, Alberta--(Newsfile Corp. - July 31, 2019) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to report the Q2 April - June results at the historic Farellon Copper-Gold Mine near La Serena, Chile.

CEO John Williamson stated, "We are pleased with the second quarter results in that we have maintained positive operating results at the Farellon project for three consecutive quarters. We have consistently extracted and processed Cu concentrate during this low copper price environment and are continuing to evaluate our efforts to move this project towards a potential commercial decision."

Between April 1st and June 30th, the Company extracted 6,935 tonnes of mineralized material at Farellon and processed 5,750 tonnes at an average grade of 1.71% Cu. Compared to the previous quarter, this represents a 12% decrease in tonnes extracted but an 8% increase in copper grade achieved. The Company received US$578,000 for the sale of this material during the quarter.

For the past three quarters, Altiplano has consistently extracted and processed an average of 130 tonnes per month of Cu concentrate at an average of 25.6% copper. During Q2, Altiplano achieved a milestone of 1 million pounds of copper processed and sold since the start of bulk sample evaluations. As of June 30, the Company has 830 tonnes awaiting processing at the toll treating facility, and 2,750 tonnes in stockpiles at the Farellon site.

In addition, recent drilling down-dip from the current working has extended the copper mineralization at least 50m below the current workings over a strike length of 300m, which indicates that the high-grade vein system continues. With the expansion of the known mineralization, Altiplano contemplates further exploration and infrastructure development during Q3.

John Williamson, P.Geol., President and CEO of Altiplano, is the Qualified Person as defined in National Instrument 43-101 who has reviewed and approved the technical contents of this press release.

About Altiplano

Altiplano Metals Inc. (TSXV: APN) is a mineral exploration company focused on evaluating and acquiring projects with significant potential for advancement from discovery through to production, in Canada and abroad. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Additional information concerning Altiplano can be found on its website at www.apnmetals.com.

ON BEHALF OF THE BOARD

/s/ "John Williamson"
President and CEO

For further information, please contact:
Jeremy Yaseniuk, Director

jeremyy@apnmetals.com
Tel: (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 release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes 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, exploitation and exploration successes, 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 mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

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